Understanding consumer behavior is essential for any business. If you don’t know how they interact with your offer, you will lose valuable information. You won’t see the obstacles they face, the way they shop, or the way they make decisions. To prevent the problem from growing, you must take into account a number of factors.
The keys of consumer behavior
Understanding consumers is a process that must be done on an ongoing basis. As time goes by, their way of acting varies depending on trends or the state of the economy. You have to pay attention to the changes to be able to adapt and not be left behind at a difficult time.
Behavior in the store
One of the essential factors is the consumer behavior in the store, which is very varied. Some people need to touch the products, others just see them, and some investigate the offers in depth.
Each case may seem unique, but there are actually patterns that you can take advantage of. By knowing them, you will make better use of the available space and create a more satisfying experience.
What to sell?
Some products will work better in the physical store and others, in the virtual one. However, before making the decision, you have to know how your customers have reacted to them in the past.
There is a wide variety of factors, such as size and price, that will make a substantial difference. Also, nothing is fixed. An article that today sells well in the establishment, stops doing so and succeeds in the network.
Variable prices
Currently, it is possible to adjust prices according to purchase patterns or social segmentation. Two customers could buy the same product, but its cost would vary.
Achieving such granularity depends, to a large extent, on the use of artificial intelligence tools. Thus, it is easier to make the relevant adjustments.
Design of specific offers
Understanding your customers will help you design offers for specific audiences. It’s a great way to personalize the shopping experience, although you need to keep a number of factors in mind.
The demographic component is essential, as well as interactions, inclinations, or the price elasticity of the product. By taking them into account, and using a tool powered by AI, you will obtain surprising results.
Personalization is a crucial element that is increasingly appreciated by customers. They expect close treatment adapted to their needs, which change over time. If you manage to adapt successfully, you will achieve a relevant competitive advantage. And you will only need to understand consumer behavior.
Planning the distribution
One aspect that influences behavior is the distribution of products, something that must be planned in detail. Depending on where they are placed, some will be more visible than others, which will make them striking.
Additionally, the ease of finding an article is relevant. If a customer doesn’t find their target fast, they’ll get frustrated and won’t make a purchase. Some may take the time to find it, but it is not common.
Planning must extend from inventory management. There is no possibility of losing opportunities, especially on certain days, due to poor foresight. The lack of highly demanded products at the wrong time will mean lost sales. You will not have taken advantage of the behavior of the buyers, something that must be avoided.
Optimizing the store
The distribution of shelves has a direct impact on the development of sales. It also affects the route that customers take while they remain inside the store. In fact, placing products in a certain position or height is essential. All these aspects can be optimized by taking into account consumer behavior.
As a general rule, the most effective distribution is one that arranges items to attract attention, increase shopping time, and make it easy to find what you want. When developing improvements, try to understand buyers’ motivations and anticipate their patterns.
The role of emotions
Emotions while they move are important to understand how they react to the products for sale. Facial movements can reveal essential information to you, as they generate expressions.
The advantage of taking them into account is that what they show is honest. These are reactions that, in most cases, the client does not have the ability to manipulate. Therefore, they are vital when making decisions, as they are an indicator that does not lead to trickery.
As you have seen, understanding consumer behavior is crucial for the progress of your business. Although it is not an easy task, it is worth investing in the tools to obtain the information. In fact, with the emergence of AI, it is easier to investigate and collect data with which to make the best decision.
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