By Terrie Wendricks, Vice President, Shopper Insights
How does a company make progress toward navigating the volatility in the marketplace that has become the norm? It starts with a strong shopper insights foundation. Based on my experience in conducting Shopper Insights research with manufacturers and retailers, here are a couple critical points to get you started in building that strong foundation:
1) There is an important distinction that needs to be made between Consumer and Shopper Insights.
It is true that in a lot of categories, the individuals doing the consuming are also doing the shopping.
2) Great insight can come from relating consumer and shopper insights.
Actionable insights come from the intersection of understanding consumer motivations and shopper behavior as it relates to the category and brands. Great shopper insight is not developed in isolation. The more inputs that go into insights development, the richer and more actionable the outcome will be. It is very important to understand what inspires or is a barrier to shopper action.
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