Shopper Know-How and the Retail Renaissance

Friday, September 2, 2011 by Betsy Miller
Last week, we posted about the retail trend of Online Expectations, Offline Experiences discussed in PSFK’s 2011 Future of Retail report. In this post, we will talk about another major trend they outline in the report: Shopper Know-How.

Shopper Know-How

The retail megatrend of Shopper Know-How stems from the emerging consumer trends related to how people now use mobile technology and social media, as well as how consumers crave/demand relevant location-based information specific to them.

  • On my block deals: This capitalizes on the success of Groupon, Living Social, etc. and combines combining deals with geolocation technology (something Groupon has already ventured into with Groupon Now). Consumers enjoy both the novelty of such alerts as well as the practicality of having time, location and need converge.
  • Social currency: There is value in consumers’ social influence. Some brands have already seen success by offering deals or special treatments based on social influence. Others have even offered discounts and products for Tweets.  In the social space, retailers will need to look beyond cultivating a stream of people to merely push deals out to and should work on creating a community of brand advocates, whose organic marketing voices are stronger than the retailers’ own. Pay with a Tweet – social media sharing as currency, too.
  • What’s in-store: Making real-time local inventory data available to consumers leads to local discovery. Consumers will be able to find the products they want nearby. By putting this information in the consumers hands, you will be able to attract new customers as people will go to new places to get what they want.
As you can see, technology is fueling a retail renaissance. Here at Blueport, we’re enjoying being a part of it!

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Copyright 2010, Official Blog of Blueport Commerce

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