Dealing With Smart Customers
For years, the independent dealer channel has gone toe-to-toe with big-box retailers and etailers. While the competition has been slugging it out, a new dynamic of consumer empowerment has manifest and threatens to raise the stakes in the game of retailing. Fortunately, CEA market research brings perspective and competitive insight to meet this new business challenge.
So what is consumer empowerment and how can dealers cope with it? Mining and leveraging customer data are tactics retailers have used for years to understand consumer shopping habits and buying behaviors to fine tune their businesses. Think of consumer empowerment as the mirror image of this technique. Today, shoppers have an arsenal of tools and services available to aid them in their quest for the right solution that meets their purchase criteria and budgets.
Consider that connected wireless devices have grown in ownership, apps help users shop smarter and crowd-sourced marketing campaigns and sales allow consumers to choose their priorities when shopping. It all adds up to a new retail dynamic you've probably already started to see in your store. The good news is independent dealers are not alone in this; the rules for all retailers have changed. Better news still, dealers have some unique opportunities to address consumer empowerment and turn it to their advantage. Here are four ways to do it: