Adapting to Evolving Consumer Buying Patterns
Millennials are projected to overtake Baby Boomers as the primary adult buying group in the United States in 2019. The future of retailing is closely dependent on their ability to market to Millennial and Gen Z shoppers.
The Retail Industry Leaders Association (RILA) identified 10 shopping styles that will help retailers do just that. Here’s an overview of the shopping styles to be aware of and the displays and merchandising ideas that cater to each style.
The Convenience Factor
Two shopping groups place the most importance on convenience, speed, and value: “Necessities” and “Grab and Go” consumers. You may see them drawn away from in-store shopping due to subscription services that offer the convenience they desire and low prices for essential items.
Capture their attention by putting essential and convenience products, such as toiletries, paper towels, and grab-and-go snacks near your checkout area or the doors. Themed cross-sell stations that have everything the buyer needs, such as a BBQ cookout display, is another way to promote convenience. Dump bins, step displays, and long handle tool carts are small footprint displays that help organize space.
This group uses shopping for their entertainment and socialization needs. They are interested in learning new things, discovering new places and taking part in unique experiences that they can share with others. You have the “Learn and Do,” “Socialize” and “Gram Worthy” buyers in this category.
This group also loves to be on top of the latest trends. Put fast moving trendy items in impulse displays at the front of your store. Storytelling vignettes with incorporated selling space use the show and sell strategy to get their attention.
Hosting classes and events in-store will attract these buyers. You can create a display that has products used during the class or lesson so they can easily make purchases afterward. Read more ideas on experiential retail here.
Finally, make sure that your store provides plenty of photo opportunities for social media mavens. The overall decor and aesthetics of your store should be welcoming and offer a unique experience they can’t find elsewhere. Think about how these displays look on Instagram and other social media channels.
The display types that work best for this group include DIY stations, platform gondolas, feature end power towers, low-level rounds, and clusters of nesting tables. Their ability to create product vignettes while providing ample selling space is perfect for in-demand items.
The Uncommittable Shopper
This category includes “Recycled and Upgrade,” and “Rent” consumers. They don’t want to be locked-in to a purchase. Sometimes they only need a product for a short period or wish to upgrade to the newest model. They do not want to spend a lot of money to use products, so they look for companies with upgrade, buy-back, and rental programs.
Put together displays that include accessories and related merchandise near your exchange area. You need to promote add-on sales and give the customer more education about the product to encourage purchases. Invest in displays with easy graphic integrations that can be swapped out as needed.
The Thoughtful Shopper
These consumers research and consult others before they make purchases. They look for products that are reputable, high quality, improve a problem or contribute to a greater good. They’re referred to as “Compare and Consult” and “Fix It” shoppers.
Give these shoppers the information they are looking for. Incorporate signage and graphics into displays with in-depth product descriptions or showcase your brand’s philosophy. Create meaningful stories and ensure that the information is easy to understand.
Provide these buyers with resources to continue their research, such as websites. Use social media as an in-store tool and set up displays with trending hashtags. This group also likes to see merchandising technique that show a DIY project from start to finish, with the associated products in the display.
Catering to all these shopping styles can be tricky. You set yourself up for success by using well thought out merchandising strategies combined with a set of displays that provides branding opportunities and accommodates many product types.
If you would like more information about our all plastic display system, contact us at 800-523-6899.