Canadian Retailer - The Marketing Issue - 30

MARKETING ROUNDTABLE

Reshaping the shopping path to
purchase
Mahoney: The retail shopping path to purchase is constantly evolving. And with the recent
proliferation of digital technologies, the touchpoints within the path are multiplying. Millennials are accustomed to this, and as a result their path to purchase doesn't resemble that
of previous generations at all. Their path is not linear. They do research online, chat with
friends, go into the store to test the product, compare competitor prices, do more research,
and then chat with friends some more.
Considering the non-linear nature of their journey, do you find that your teams have more
opportunity now to connect with millennials than you perhaps once did?
Zedic: There is opportunity to engage with
millennials with the pre-purchase involvement
of the shopping path and where they're looking
for insights and information on products. The
more robust the content you can provide, particularly as it relates to the digital space, the
more confidence they have in your brand being able to help them. Getting exposure during
the pre-purchase investigation is a great way
to plant the seed for giving a brand relevance
to ensure you are part of the consideration for
the final purchase and return visits.

Watanabe: Millenials are digital natives and
we know that digital channels are woven into
their path to purchase. For omnichannel retailers, this creates a great opportunity to leverage this reality by creating a consistent, high
impact experience across all touchpoints both
online and in-store. This can be a strong differentiator to pure plays. The goal is to reduce
the friction and make this path as simple and
enjoyable as possible. Once achieved, this path
is shared through their social networks which
further exposes your brand to this segment.

Tate: It's not a straight line anymore. Because
of many sources of research that's easily accessible, customers are more educated than
ever before, especially with respect to a high
consideration item like the products we sell.
So, making sure you have the information that
they're looking for and that you're facilitating
the flow of that information is important, no
matter where the customer jumps to in their
journey. And being responsive to their needs,
primarily through the digital/mobile/social
channels, is key.

Castonguay: We're seeing a much higher
penetration of millennials online than we see
in our stores. What we're trying to understand
is the reasons why because understanding this
will help us shape the shopping experience
for them, today and in the future. Piloting and
testing to understand is important; and understanding the path is critical. What we need
to do as an industry is redefine convenience
for them, while optimizing cost of labour and
shipping to provide an incredible customer
experience. It's a lot easier said than done.

These are certainly interesting times for retail marketers as they continuously adapt and
evolve their strategies to engage and delight the millennial consumer. And it's clear after this
roundtable discussion that the common thread within each retailer's approach is an emphasis on
understanding the digital behavior of millennials in order to offer them the content and information that they're seeking. Doing this will go a long way toward creating the curated experience
that they crave, and will place any retailer in good stead to be able to capture their loyalty and
affinity to your brand.

30 |

CANADIAN RETAILER

| THE MARKETING ISSUE

Table of Contents for the Digital Edition of Canadian Retailer - The Marketing Issue