Shopper Insights: Increasingly a ‘Joint Responsibility’
Retailers and manufacturers may not be getting ready to join hands in a circle
and sing "Kumbaya," but a RetailWire poll finds that both
parties understand the need to work together to translate shopper insights
into greater sales and profits.
Top line results of the survey of 593 industry professionals (Sept. 29 – Oct.
6, 2010) were discussed in a RetailWire webinar, "Shopper Insights:
Actionable or Academic?" on Tuesday. (Click here to download a free Executive
Summary of the study results.)
According to the research, 38.7 percent of retailers regularly use shopper
insights in their positions while 29.8 percent sometimes do. For manufacturers,
49.7 percent regularly use shopper insights and 28.5 percent report using them
"Shopper insights can and should drive an enormous amount of retail activities
in merchandising, buying, aisle and category management," said Roy White,
business development executive with RetailWire and lead author of a
white paper on the study.
Noting how closely aligned retailers and manufacturers were on the value of
using shopper insights to improve a variety of retail activities, Mr. White
said, "They’re really on the same page. That’s something that bodes real
well for collaboration. And it’s a statement that collaboration is an actual
Nadine Hernandez, director, shopper insights worldwide industry marketing,
DemandTec, who co-presented the research findings on the webinar, said the
study results and her own in the field observations show retailers and manufacturers
are putting their money where their mouths are.
"More and more trading partners agree that this (funding shopper insights)
is a joint responsibility. In fact, the topic of trade dollars, which has always
been sort of a taboo topic, is back on the table," she said. "I think
that is largely in part to the tremendous amount of success we’ve seen with
those trading partners that have done a great job in leveraging shopper insights
to drive true ROI — in many cases, much higher ROI than another me-too, ineffective
in-store promotion that was planned without any type of shopper insights."
Discussion Questions: How important is collaboration between retailers and manufacturers to achieve maximum returns on shopper insight investments? Is collaboration between retailers and suppliers for real?