Retail senses encompass the five basic areas: presentation, price, quality, availability and location. Automated retailing has some advantages in many of these areas – especially if you work with a premier automated retailing solutions provider that understands these factors of purchasing decision making.
Immersed in a variety of different brands and products, presentation and engaging consumers is essential. In-store merchandising has the key advantage of obtaining instant buy-in, many times by consumer testing. Test products allow consumers to explore and interact with the size, shape and color of a handful of products or services. Customers are more likely to create a connection with a product by touching and experiencing it first-hand. According to a four-part study done by the Journal of Consumer Research, touch “results in an increase in perceived ownership of [an] object,” (Peck, Shu 2009) which according to the Harvard Business Review, “[drives] must-have purchase decisions.” (Williams, Ackerman 2011) So, by allowing the customers to make the connection of physiological ownership with the product, the probability of purchase is heightened.
With the end of any season brings sales and I can confirm that in the world of retail, “price” is key. I say “price” because it is less about the actual numbers than it is about the framing of the numbers. Customers aren’t just looking for good products, they’re looking for good products at fair prices, and framing prices with words like “SALE” and “ROLLBACK” makes prices appear more appealing to consumers.
Whether or not a consumer chooses a brick-and-mortar store over purchasing online, there’s still an online element in the sale of the product. According to a survey done by PwC, 67 percent of consumers are influenced by social media reviews and comments about products that they buy. Shoppers want quality, and with easily accessible consumer reviews, assuring the quality of a product has never been easier.
“LIMITED SUPPLY” seems to trigger a dual-sense of both excitement and panic. Perhaps it’s the fact availability is such a significant factor for consumers and that it is such a temperamental sense. With clearance sales at our front door, stores have the opportunity to use the limited supply of products to create a buzz.
A product’s availability can have a negative impact on both the consumer and the retailer due to the finicky nature of this aspect of shopping.
Back-to-school sales are here and gone with the holidays right around the corner. Merchandising displays and new product introductions will be front and center with a focus on high profile endcaps and placement in-line. For many products the location of the display and interactive components will draw in sales and repeat visits ideal for any retailer.
Five retail senses and brand relationships
Looking at consumers’ five retail senses, how does each one contribute to brand relationships?
- PRESENTATION: Creates the feel and representation of the brand
- PRICE: Appeals to the customers’ budget
- QUALITY: Establishes trust with the consumer
- AVAILABILITY: Regular easy access perseveres the customer-brand Relationship
- LOCATION: Appeals to the customer’s convenience
As we transition into another season in retail, it doesn’t hurt to keep in mind the five consumer senses: presentation, price, quality, availability and location.