Canadian Retailer - Holiday 2016 - 21
Letts: This is an area where we can do a lot more with what we have. There
is a lot of data and it is important to invest the time in analyzing what you
can action and what will have the greatest impact on your business and
Des Roches: We know our customers. The online survey is a powerful
tool and because we have quite a loyal core following they provide us with
worthwhile insight. Due to our surveys, which are also a powerful part of
our marketing strategy, we know them often better than most other retailers
know their customers. But, that's not to say that I wouldn't want to know my
customers better on a more intimate level. But, we aren't there, either. It's
a challenge for us, being small and without the resources that some retailers can pull on. But, wherever we're able to, we analyze our sales to predict
seasons, the success of certain lines that we're considering bringing in and
how we market to our customers. Data can be a huge help if you know how
to look at it.
A social thing
62% of millennials are
more likely to become
a loyal customer if the
brand engages with
them on social networks
Source: Elite Daily
Kruh: Millennials have the extraordinary ability to shape consumer behavior.
They're a revolution in the retail and consumer space. Boomers are still the
largest group, but there are 2.5 billion millennials worldwide, a third of the
world's total population, and 25 per cent of the Canadian and US population. By 2018 they'll have more spending power than boomers and in North
America alone are set to inherit $30 trillion. As a group, they like experience. It's vital to their existence. And they're big on connecting with companies that align with their values. With all of these things in mind, what are
you doing to appeal to this increasingly influential customer group?
Green: Seventy-five per cent of our customers are aged between 25 and 34.
But, what's really helped us has been figuring out how we can grow within
different segments of millennials. For example, we started a wedding campaign where we give millennials getting married a slightly different experi-
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