HOW TWO SIMPLEMECHANISMSINCREASE SUCCESS IN RETAIL
FOR FASHION AND OTHER RETAILERS
TIPS TO
SUCCESS
TIPS from MULTI-VALUEMARCH 2015
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#1 THE RANGE OF PRODUCTS
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YOU CAN PREDICT
THE NUMBER
OF CUSTOMERS
BY YOUR RANGE OF
PRODUCTS
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WE CAN DEFINE PRODUCTS BYA COMBINATION OF THE
PRODUCT CATEGORY &THE INVOLVEMENT
PRODUCTSFOR DAILY USE
PRODUCTS NOT FOR DAILY
USE
INVOLVEMENTWANTED
INVOLVEMENT
NEEDED
A
DC
B
PRODUCTSFOR DAILY USE
PRODUCTS NOT FOR DAILY
USE
INVOLVEMENTWANTED
INVOLVEMENT
NEEDED
ORDINARY+NEEDED
ORDINARY +WANTED
EXCEPTIONAL+NEEDED
EXCEPTIONAL+WANTED
ORDINARY BASICS +
ORDINARY SPECIALS
AFFORDABLE LIFESTYLE +
SMALL PLEASURES
TRUSTED ADVISORS LIFESTYLE CURATORS
A B C D
MORELESS
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WHAT IF MY RANGE OF PRODUCTS IS
EXCEPTIONAL BUT I NEED MORE
CUSTOMERS?
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#TIP ADD ORDINARY
PRODUCTS TO YOUR RANGE OF PRODUCTS
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HOW MANY TIMES WILL YOU BUY A NEW BED OR A NEW
SOFA IN YOUR LIFETIME?
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LESS
HOW MANY TIMES WILL YOU BUY A NEW BED OR A NEW
SOFA IN YOUR LIFETIME?
PRODUCT WANTED EXCEPTIONALLY
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MORELESS
PRODUCT WANTED EXCEPTIONALLYPRODUCT NEEDED + WANTED ORDINARY
… BUTHOW MANY TIMES WILL YOU
BUY NEW TEALIGHTS, PLATES AND FOOD IN YOUR LIFETIME?
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#2 THE COMPLETECUSTOMERJOURNEY
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DO YOU BELIEVE
THAT CUSTOMERS
REMAIN LOYAL TO
A RETAILER OR A
BRAND
BECAUSE OF THE
PAST?
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CUSTOMERS DO NOT REMAIN LOYAL.YOU HAVE TO CONVINCE THEM OVER
AND OVER AGAIN.
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PRICE AND QUALITY ARE NO LONGER ENOUGH TO CONVINCE
CUSTOMERS
#1
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A STORE OR WEBSHOP IS THE NEXT-TO-LAST POINT OF CONTACT IN A CUSTOMER JOURNEY
90% OF RETAILERS USE A STORE OR WEBSHOP AS THE FIRST POINT OF CONTACT
#2
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CUSTOMERS HAVE TO KNOW AND BELIEVE IN YOUR BRAND OR RETAIL
CONCEPTTO PUT IN THEIR SHOPBRARY
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SHOPBRARIES FILL UP WHEN CUSTOMERS ARE BROWSING FOR
NOTHING IN PARTICULAR
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YOU’RE LOOKING FOR A NEW BLACK DRESS
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HOW DO YOU SHOP TO FIND THIS BLACK DRESS?
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MY NEED SHOPBRARY COMPARING
A BLACK DRESS
ALL THE PLACES WHERE I KNOW I CAN FIND A BLACK
DRESS
DO I LIKE THE DRESS?
WHAT’S THE PRICE? IS IT
AVAILABLE IN MY SIZE? ETC.
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DECISION PURCHASE DELIVERY
A BLACK DRESS
PURCHASING THE DRESS
ONLINE OR IN A STORE
THIS IS THE BLACK DRESS
I WILL BUY
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THE MOMENT YOU WEAR THE DRESS
?
THE SHOWCASEFOR THE DRESS
AND YOU“Nice dress, where did you
find it?”
WHAT NOW?
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THE TWO MOST-FORGOTTEN POINTS OF CONTACT IN THE
CUSTOMER JOURNEY
SHOPBRARY ?&
BEFORE AFTER PURCHASE
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WHAT IF I NEED MORE CUSTOMERS?
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#TIP 1 PUT A LOT OF CONSTANT EFFORT INTO GETTING INTO POTENTIAL
CUSTOMERS’ SHOPBRARIES
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#TIP 1 BE AWARE THAT SHOPBRARIES FILL UP
WHEN PEOPLE ARE LOOKING FOR NOTHING IN PARTICULAR,
i.e. WELL BEFORE THEY HAVE A NEED
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#TIP 2 DO THE SAME AFTER A PURCHASE
IT’S NOT BECAUSE YOU SOLD SOMETHING TO A CUSTOMER THEY WILL STILL BE HAPPY WITH
THEIR PURCHASE FOR A WHILE.SO ASK YOUR CUSTOMER ABOUT THEIR SATISFACTION
#TIP 2
*the images used are royalty-free as far as we know. If not, please inform Multi-Value and we will remove the image within 4 days.
*the images used are royalty-free as far as we know. If not, please inform Multi-Value and we will remove the image within 4 days.
#TIP 2 IF YOU ASK THEM ABOUT THEIR SATISFACTION, YOU WILL KNOW IF THEY ARE HAPPY OR UNHAPPY ABOUT
A PURCHASE. WHY IS THIS IMPORTANT?
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#TIP 2 1. YOU CAN MAKE A UNHAPPY CUSTOMER HAPPY
AGAIN BY FOR EXAMPLE A DISCOUNT OR GIFTCARD.2. YOU KNOW YOU HAVE TO STOP PRODUCTS
CUSTOMERS ARE NOT SATISFIED ABOUT. IF YOU DON’T, CUSTOMERS WILL NOT PROMOTE YOU
There is more information at
www.multi-value.com