Download - 20140117 buyer behavior iba mba48 d
Buyer Behavior
Session 6: ‘Conversion’ – the key word
Zeeshan Kingshuk Huq
Guest Faculty
2 2/3/14/ZKH
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
4 2/3/14/ZKH
HOW DO YOU INCREASE CONVERSION
5 2/3/14/ZKH
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
6 2/3/14/ZKH
Interception
§ Ask him/her at the ‘right’ moment
§ How do you define what is ‘right’?
§ Distance
§ Waiting time / Ease-up Time
§ Interest
7 2/3/14/ZKH
8 2/3/14/ZKH
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 …
9 2/3/14/ZKH
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
10 2/3/14/ZKH