AdAge published a very insightful article on the changing spending habits of consumers. The list includes payment methods, expendable items, and where consumers are shopping. The topic of major interest, is how consumers feel when they shop.
How Are your Consumers Feeling during shopping:
“¢ Self-conscious
“¢ Cynical
“¢ Buying based on research
Retailer’s typically cannot change how a consumer pays for their goods, but they can influence how a consumer feels about spending. The research evidence shows consumers are more hesitant to spend, questioning the validity of their purchases, and basing shopping decisions on word of mouth research (primarily via the internet). Organizations who have established and continually improve customer experience can lessen the negative feelings associated with purchases.
Knowing consumer are approaching purchases with a cynical attitude means you need to step up the customer service. Promote quality and trustworthy business practices which breaks through customers on the defense. Involve a loyalty or reward program to reaffirm in the customer’s decision to purchase was a smart one.
As a brand or retailer, are you aware of public opinion on your brand? Zappos and Comcast are two organizations who utilize social media’s Twitter to keep in touch with customers. More than ever, consumers will be networking online to find the best deals, most trustworthy retailer, and quality products. Your organization should have a plan that keeps track of customer experience and the word of mouth marketing on the internet.
Retailers need to be sharpening their customer experience program to a fine point. A well rounded customer experience program is the best source of attracting and maintaining customer’s this year.
