The Great Differentiation

Is it the great depression, the great recession or the great differentiation? A recent article by Mike Wittenstein spells out the differences and what that might mean to new opportunities to enhance the customer experience for your store or your brand.

The point of the article is that customers are not choosing to not to buy items. They are, in fact, still buying items. Walmart and the dollar stores are not hurting. What they are doing is trading down to the next level of brand or retail outlet to fit their new economic reality. Because of this, we might see a different kind of shopper in our stores. This shopper is more accustomed to looking for higher priced brands and more luxurious service.

While this is unfortunate for our brethren who sell items and operate stores that cater to higher income individuals, it represents a huge opportunity for those who might be seeing this new kind of shopper trickle down. Most experts expect this new shopper behavior to last long after the recovery. Brand marketers, retail executives and store personnel have to ask themselves, “What makes my new customers tick?”

Pay attention to the kind of experience that will win over these new upscale customers. If you can convert them permanently you can make them, and their circle of influence, life-long customers.

As Wittenstein suggests, this does not have to cost a lot of money, just a new and savvy approach to customer service. These consumers are used to a more hands on and personalized service. See if you can’t give it to them by studying the ways of the merchants they abandoned. Remember, they didn’t leave because they were dissatisfied, they left because of price. For starters, he suggests asking, “What’s on your shopping list today?” versus, “May I help you?” It’s a more personal question for those who expect a more personal service, and eventually, a lasting relationship.