How well do you know your customer?
While a number of future trends will be the evolution of existing products and services, the consumer is more than ever driving these trends forward and dictating the speed of change. With the power the consumer now has, it is they who will shape the future retail landscape. Brands need to be conscious of this at all times to ensure what they are selling is on-trend. If not they must adapt accordingly in order to survive.
In addition, when expanding internationally a mistake a number of brands make is automatically assuming that the make-up of the consumer will be similar to that in other markets. This is certainly not the case and brands need to understand who their target customer is in each market. This will not just help determine whether the market is ready for the brand's arrival but will also allow an accurate, localised strategy.
In order to be in a position to develop the appropriate strategy, it is important that brands first identify who their customer is and have as complete an understanding of them as possible. Catesby work with their clients to gain a 360 degrees picture of who the target consumer is and how they shop today. Our consumer insights ask the questions that help our clients understand what makes the consumer tick, engage and buy from particular brands allowing them to get closer to their target customer.
Consumer insights provide an accurate way to learn what the consumer wants together with an understanding of the difference in consumer behaviour, their needs as well as different consumer styles found across the market.