Long gone is the linear path to purchase; today, consumers are embarking on increasingly complex journeys, guided by a huge number of constantly changing influences.
But while there’s no such thing as an average customer, there are new segments emerging that display distinct behavioural patterns. Analyst Mintel has identified 6 emerging shopper ‘tribes’ that are dominating retail decision making in 2016:
An ageing population is no bad thing for the retail sector, as those aged 65+ are reaping the benefit of a lifetime’s hard work and are ready to spend their hard-earned retirement income. Good financial planning among this group mean they often have cash to spare at the end of the month, and are looking to enjoy the finer things in life.
Tavel and eating/dining out are valued highly here, so there’s an excellent opportunity here for shopping centres and destination retail venues.
This consumer group is desperate for analytics to make accurate, effective daily decisions. Wearable technology’s popularity is rising fast among this group, who want data to drive every element of their lives.
Convenience and personalisation is key for this group; if an offer doesn’t resonate or an experience isn’t optimised, they will become frustrated very quickly.
It’s no secret that mums tend to hold the spending power in most households, and their influence spreads into other areas of family life.
Decision-Making Mums putting their foot down and encouraging more time together without technology is a key trend for 2016. As with Cash-Rich Seniors, there’s a good opening here for destination retail venues like shopping centres to promote their entertainment and leisure offering.
Online privacy is a growing issue among shoppers, and this particular group is very concerned about discretion where it comes to their ecommerce purchases.
For both retailers and shopping centres, this fear of ‘big brother’ style online control is a great opportunity to get back to shopping basics and promote the store’s warm, human nature. Even with retail analytics solutions on site, the invasion of their personal affairs is less intrusive than online.
It feels as if most people live their lives in a constant rush and, as such, rest and relaxation time is a highly prized commodity.
Serenity Seekers would like a place to decompress, which is of twofold benefit to the retail industry. Firstly, retailers selling wellbeing products have a very strong target demographic. Secondly, there’s a gap in the market for stores and shopping centres to create mindfulness experiences, such as yoga lessons, guided meditations or complimentary massages.
Why Buy? Generation
This ties in closely with another consumer tribe, the Waste Warrior, who tries to live a sustainable, zero waste lifestyle. The concept of reusing and recycling is rocketing up the social agenda, with shoppers becoming increasingly concerned about the ethics and practices of the companies they interact with.
While the Why Buyers will always try to swap or borrow the things they need, there is an opportunity here for retailers to promote waste-reducing practices, such as reusing packaging.
Are you seeing any of these consumer tribes in your stores or shopping centres? Tweet us @sensormatic with your thoughts.
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