20140117 buyer behavior iba mba48 d

Buyer Behavior

Session 6: ‘Conversion’ – the key word

Zeeshan Kingshuk Huq

Guest Faculty

zeeshan.huq@gmail.com

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The ultimate objective

How many of the people who walks into your stores actually buy something?

§  Shoppers versus Customers / Consumers

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Who shops at your store?

§ Gender / Age  Man and Woman  Man and woman and

kid  Man and kid  Woman and kid

§  Race

§  Religion

§ Geography / origin

§  Location of shop vis-à-vis the shopper

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HOW DO YOU INCREASE CONVERSION

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Store / Outlet Architecture

§  Space is defined (and defines) your business strategy

§  Store Layout

§  Product Display / Serving Area

§  Product Experience Area

§  Decompress Zone  Can work as STOP Zone

§  Information Architecture

§  Location Privacy

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Interception

§  Ask him/her at the ‘right’ moment

§  How do you define what is ‘right’?

§  Distance

§  Waiting time / Ease-up Time

§  Interest

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How much time is s/he spending at your shop?

§  Environment  Decoration  Layout  Space  Music / smell / other ambience factors

§  Product portfolio range vis-à-vis Display & Variety

§  What hooks:   In-shop offers  Free sampling  Additional Services / Utilities

BUT …

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Spending Too Much Time Is Not Desired

§  Optimum duration at the store  Depends on various factors  Same store, different optimum time for different types of

customers  Same customer yet different tolerance level for difference

stores

§  CHECKOUT  Avoid waiting time  How can you make the check-out experience pleasant  Actual Check-out time versus Perceived Check-out time

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