Harvard Business Review: “Despite the many advantages of … digital goods, companies find again and again that people value and are willing to pay considerably more for … their physical counterparts … experiments suggest that the key driver of this value loss is not the resale value of the good, or how much it costs to make, or how long it can be used, or whether it’s unique or popular. We find that the key difference is that digital goods do not facilitate the same feeling of ownership that physical goods do.”
Category: SHOPPER FYI
BRAND X JOURNAL
RESEARCH REPORT Three more secrets of Shopper success
Training, scope & retailer focus
Training: Sixty-four percent of ‘excellents’ (i.e., those who say they excel at Shopper) report that they received their shopper-marketing training through formal company training programs, while only 22 percent of the ‘not-so-good/poor’ group did. Even more important is the quality of training: Only 3.6 percent of the ‘not-so-good/poor’ respondents rate the training they did get as excellent, compared to 50 percent of the ‘excellents.’
INSIGHTS How do you define loyalty?
Adam Holyk, CMO, Walgreens
Adam Holyk: Loyalty is broader than a loyalty program. There’s this idea of little “l” and big “L” loyalty, in that it goes beyond a promotion program that attracts customers. It is more around how we actually enhance the customer experience at Walgreens.
BRAND X JOURNAL What’s small is big again at retail
Smaller stores are on the rise
The Washington Post: “Across the country, retailers such as Walmart, Target, Macy’s and Nordstrom are experimenting with ways to distill their inventory into smaller, more-focused locations. The shift comes, analysts say, as Americans flock from the suburbs to city centers, where space is at a premium. Big-box stores on the outskirts of town are no longer convenient nor practical for millennials with tiny apartments and no car. Target alone is opening 30 smaller stores by the end of the year, doubling its presence near urban areas and college campuses.”
RESEARCH REPORT What does Shopper ‘best practice’ look like?
Experience, headcount & training, for starters
By comparing our “State of Shopper” survey responses of those who self-identified as ‘excellent’ in Shopper to those identifying as ‘not so good/poor,’ a picture of Best Practices in Shopper begins to emerge.