Consumer Buying Behavior 33

Consumer Buying Behavior 33



The retailers have a​ microscope focused on consumer buying behavior
When it​ comes to​ selling merchandise, retailers spend millions studying consumer buying behavior .​
With short margins and large amounts of​ inventory, any retailer worth his salt would be crazy not to​ pay attention to​ what prompts the consumer to​ buy .​
He also needs to​ know what turns off consumers, so he can avoid losing customer sales .​
So just what sort of​ information are retailers willing to​ pay to​ know?
Shopping at​ the grocery provides a​ good snapshot of​ the sort of​ consumer buying behavior data gathered in​ these studies .​
Every grocery store has weekly sales .​
Everyone loves a​ sale, right? These days, food is​ costly and consumers are looking for ways to​ save money .​
Let's say you see chicken is​ on sale at​ the ABC grocery .​
It's a​ good buy and almost every customer eats chicken at​ least once a​ week .​
Consumer buying behavior indicates that if​ he can get you into the store to​ buy the chicken, which he may just be breaking even on, it's likely you'll do all your shopping there .​
Thus the grocer can make up his loss on chicken profit with regularly priced produce.
When you do your grocery shopping, you're probably running a​ number of​ other errands as​ well and you don't want to​ make a​ day's work of​ it​ all .​
When you reach for a​ jar of​ mayonnaise, the jar right in​ front of​ you, at​ eye level, is​ the one you're most likely to​ put in​ your basket .​
This is​ a​ well known consumer buying habit .​
What you may not know is​ that an​ equal quality, but cheaper mayonnaise is​ sitting on the lower shelf.
Here's another example of​ a​ consumer buying habit we all demonstrate: there you are at​ the checkout, waiting your turn .​
You've got the kids with you .​
Since you have nothing to​ do but wait, your eyes fall on what's before you - magazines, little recipe booklets and candy .​
The kids start nagging you for a​ candy as​ you peruse that recipe booklet .​
Neither item was on your store list, but impulse strikes just as​ you're heading to​ the cash register .​
The result? a​ couple more items are tacked on to​ your burgeoning bill.
With all we have to​ do on shopping day, few of​ us will make a​ separate stop at​ the discount store for shampoo .​
Grocers know of​ this consumer buying behavior too .​
You'll typically pay 75 to​ 100% more for the shampoo at​ the grocery over the discount store price .​
You probably never even thought of​ it, but the consumer buying behavior studies reveal this fact to​ the grocer who pays for this information.
Next time you are out shopping, take a​ closer look at​ how goods are organized and displayed .​
You'll probably gain a​ fresh perspective on how retailers market and sell to​ you, the consumer.




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