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Changes in purchasing behaviors… and what happens next?

SeanWatch the talk by Sean O’Neill, chief product officer at GfK, giving examples of how disruption is accelerating and explaining the benefits of businesses rethinking how they equip their teams to identify the important signals amongst the overwhelming market noise.

Market dynamics have changed; organizations have to equip their teams to be much more agile"

Cumulative Click & Mortar online sales grew 83% in first 31 weeks, while pure online players’ sales grew just 37%. Our new omni-channel reality demands that we equip teams to deliver much faster responsiveness, to defend and gain market share"

Key take-outs:

  • Consumer behavior has been forced to change – and that prompts people to rethink old habits and embrace new realities for shopping
  • New opportunities for those willing to serve those needs.
  • TCG consumers historically chose in-store to touch and try before they buy, - but a large proportion of shoppers expect to continue working from home, will avoid shopping malls, and plan to increase their use of home delivery
  • Shoppers and retailers both confirm that the online element of omni-channel shopping is only going to get stronger.
  • Manufacturers and retailers must
    • invest in their digital marketing
    • develop omni-channel experiences around Conversational, Educative, Trusting
    • find digital ways to compensate for the loss of physical showroom options for TCG consumers, to ensure they help consumers make a purchase decision
  • Crucial to rethink how you equip your teams to move fast in a world of market volatility, accelerated disruption and overwhelming amounts of market data

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