You Don’t Need a Fake Store to Get Consumer Insight

Staying competitive in the retail industry means understanding buyer motivation.  Frito-Lay knows what drives a consumer to buy, is the direction the brand needs to take.  Listening to consumers is so important to Frito_lay, they built a 15,00 square-foot fake store to study consumer trends, as highlighted in List Everitt’s BNET.com post.  The good news is, you don’t need to build a supermarket to understand your consumer.

What does a retailer need to know it’s consumer?
Retailers should rely on good research studies that are specific to the industry and brand.  Overall industry schematics and consumer trend reports will give retailers the “big picture” but the details will make them standout.  It is a good idea to enlist a reputable company to perform mystery shopping and consumer surveys for your stores.

ICC/Decision Services for 30 years has provided such services to the retail industry.  In a company white paper, CEO David Rich, outlines three important questions retailers can look for insight:

1. Do you know why shoppers leave your stores without making the purchase?

2. Do you know how actively your sales associates conduct follow-through selling?

3. Do you know how it feels to be your customer?
 
To read the full report, click here. 

ICCDS employs various surveys during the consumer shopping experience to deliver accurate decision making data to it’s clients.  Retailers can use exit interviews, mystery shopper reports, and satisfaction suryveys to gain complete analysis and make recommendations.

CPG brands such as Frito-Lay don’t have a sole store to represent their brand, so building one may give them more flexibility.  The best data is collected during normal consumer activity and from an active establishment.  The last key in the formula is to secure a top-notch company to conduct the study successfully.