Brands want to know where, how, and why consumers make final purchase on products, so that they can make smart decisions about retailer partnerships, product selection and development, and marketing and promotions. Retailers, meanwhile, need to understand how they are performing in different channels (in-store and digital), as well as which brands and models sell best and why. Manufacturers and retailers alike also want insights into competitor performance and partnerships.
A case study of the TV market in India
Having looked at how our Consumer Journey solution helps brands understand how consumers research a purchase in my previous post, let’s dive into the insights it offers into the moment of their final purchase.
Truly understand all the factors that influence consumers’ final decision at the moment of purchase
Powered by the GfK Consumer Insights Engine, our Consumer Journey offers technology and consumer durables manufacturers a full view of the online and offline consumer purchase journey. This enables them to answer key business questions, including:
How many shoppers did we lose during the purchase journey and what is the size of this lost opportunity?
Who are these shoppers?
Which competitive brands or retailers did we lose out to and why?
Which retail or manufacturer brands should we partner with?
Which retailers or brands could offer access to unique customers?
Which competitive brands or retailers attract the same consumer profile as we do?
What are my channel conversion rates?
How can I improve them?
What role does each channel play in the consumer journey?
As a subscriber to the Consumer Journey module, you can use the Consumer Insights Engine to get instant access to insights that will allow you to answer your key business questions. To provide you the data that leads to trusted and actionable consumer insights, we seamlessly integrate multiple data sources