The types of retail research tools that Brandspeak can employ to optimise your retail environment can vary depending upon the types of goods you are selling. With low cost, Fast-moving consumer goods (FMCG) consumers typically use system 1, intuitive decision making to make purchasing decisions. Whereas, with high cost, low volume, consumer durables there is always a more rational, system 2 type, evaluation also involved.
FMCG Retail Research
When it comes to everyday, lower value FMCG goods, 60% of consumers who intend to make a purchase won’t have decided which brand to buy by the time they arrive in the aisle or at the relevant fixture.
In such instances it is important for the brand owner and the retailer to not only understand the basis on which the 40% have already made their brand selection, but also the process by which the remaining 60% will decide which brand to buy.
The above illustrates the importance of employing research techniques capable of understanding how consumers employ intuitive, System 1 thinking to make purchase decisions when instore.
That is why use tools such as eye-tracking to help us understand the role of System 1 decision-making and how it is affected by issues such as:
Signage / Information
Consumer Durables retail research
With more expensive, one-off purchases (e.g. cars or TVs), consumers will typically combine System 1 decision-making with more and more rational, considered, System 2 evaluation.
To understand the impact of both System 1 and System 2 thinking on the decision-making process Brandspeak uses a range of qualitative, quantitative, ethnographic and neuromarketing research approaches.
Types of retail research project we do
Brandspeak’s expertise in retail market research includes:
Retail brand proposition and positioning definition
Proposed retail layout assessment and refinement
Retail customer journey mapping
POS / merchandising assessment and optimisation
Retail purchase driver and barrier analysis
Retail shopper experience optimisation
Retail customer support / fulfilment analysis
Our team has worked with retail in a whole host of industry sectors, including:
- Financial services
- Petrol / Roadside