In order to entice increasingly time-pressed consumers who are spending less on apparel, retailers need to focus on making customers’ lives easier but also more exciting, said Marshal Cohen, chief industry analyst of The NPD Group.
The way to do it is to find out what customers think and expect as well as what gets them excited, Cohen said in his presentation.
“When we look at what we do with our merchandising, we look at it with a certain perspective,” Cohen explained. “It’s not what we think. It’s not what the people on your team think. It’s not what your family or friends think. You know what it is? It’s what the consumer thinks.”
Thus, it’s necessary for retailers to re-shape their own thinking and focus on communicating with this changed and ever-distracted consumer, said Cohen. That is, a consumer who has more choices than ever — from spending money on electronics and appliances to beauty products and fashion.
As such, Cohen promised that the secret formula to communicating with and getting inside customers’ heads — what he called the “inroads to success” — is to inspire, inform, innovate, intrigue and ultimately inquire about potential consumers.
First, retailers can inspire consumers by helping them learn what’s next. Second, he cited personalization, which he called “elevated products,” that enhance the consumer’s experience. Cohen also noted that “advanced products,” like wrinkle-free garments, are playing an increasingly important role in consumers’ lives. To intrigue consumers, Cohen advised using celebrities as beacons of style. Finally: Inquire. Cohen advised retailers to think about what consumers think and expect about their brands.