We wanted to gain an insightful and realistic view on what actually happens in the S/M battlefield. We invited 16 mothers to track their shopping behavior for a period of 2 weeks and share their experiences with us via our on line platform, hive live. What they found out about themselves was quite revealing, not only for us, but for them as well. Do they really stick to the list & budget? Are they as disciplined as they claim to be? Let's find out . . .
The diffusion of the Internet in our lives has not only enabled the free & instant access to all kind of information, but, it has also affected the way people express themselves and communicate today.Consumes - citizens are not passive observers and recipients of information.
People today flirt with the more active and dynamic role of commentators, influencers and co-creators.
At the same time, people find themselves sharing their everydayness between the on line and off line world, to the extent that it is becoming hard to discern between the two. The psychology of the consumer-citizen is changing, along with the perception on his own image, his role in the “universe” and of course his behavior.
It’s been quite a while since researchers started questioning whether research, as we know it, can effectively incorporate the new emerging role of the consumer – citizen and to what extent existing research approaches grasp the new means of expression and communication, reaction and behavior of consumers
One has to wonder if traditional research continues to face respondents as passive transmitters of information, disregarding their new empowered status; whether it places focus on the playback of past experiences and interact with respondents with the intervention of the researcher.
One thing is certain. If we continue ignoring respondents’ new role, we distance ourselves from the wealth of experiences and emotions which can be shared only through direct and continuous interaction with the consumer in his own environment.
Research can no longer be a snapshot of the past. Research owes to itself to become a continuous, systematic and direct form of interaction with the consumer, an imprint of many smaller moments in people’s lives eagerly shared between respondents and researchers.
It is of ultimate importance to enrich our methodologies so as to grasp the new reality. Market research is challenged not only to adjust to the new reality, but to take things a step forward, develop new methodologies and software that can more effectively deal with the new consumer reality.
As more and more consumers enthusiastically embrace Internet in their everydayness and immerse in the on line world, barriers against on line and experiential approaches lose ground and the need for researchers to become more resourceful becomes imperative.
Vassilis Moustakoudis
It seems like we are, if we take into account that consumers today are more likely to talk about a brand in a positive manner, contrary to the earlier years of the crisis, where consumers were turning their backs on the brands.
40% of consumers have discussed with friends their positive experience with a brand. Another 12% does not hesitate to suggest a brand to their friends
Women 25-34 were the target most likely to spread around their positive feel about the brand.
Promos is the most popular topic amongst 45+ consumers, who consistently admit informing their friends on offers and promotions. This is the target who have higher chances to become PL ambassadors as well.
1 in 2 people are likely to place new products in their basket during a visit to the super market.
If we were to interpret these figures a few years ago, we may be discussing about experience seeking consumers, eager to discover and embrace the new and inspiring.
But, within today’s context, what could be the conclusions drawn?
Could this mean that as we distance ourselves from brands, we are becoming more open to new in the lookout for more value for money propositions? Promos and offers account for 25% of new products trial.
Could it also mean that we are in need for unique and novel propositions that make us feel that things are moving forward despite the crisis? Uniqueness & novelty enchant 25-34 y.o targets. Especially if the new proposition is presented in an impactful manner on shelf which can convince 20% of trialists
For sure, the presence of kids in household is a crucial factor of trial. 65% of parents with younger kids have bought a new product in the last couple of weeks.
Friends’ advice and suggestions persuaded 2 in 10 consumers to try out a new product, a percentage marginally higher than TV advertising.
If we come to think about it, our everyday life is a series of trade-offs. But not in the way it used to be once, selecting out of two desired options. Today, trade-offs are more demanding, and cause frustration. Especially, given that every single euro we are about to spend needs to be well thought out and fully justified.
We have definitely caught ourselves camouflaging our desires into needs so as to pass them through our tight budget.
What does that mean? For starters any product, activity needs to be exceptionally good in order to prevail in this trade off, especially since it falls into a comparison with many different things. It must be either of undoubtable value and importance or it must be very emotionally rewarding to the individual.
18-24 seem less willing to sacrifice entertainment and continue to consider it money well spent. Accordingly for 25-34 traveling | vacations is something they prioritize, as very important to keep them going, as an inner need to cut off and escape from reality.
However, for 45+ it seems that trade-offs are more in the direction of sacrifices. These targets are likely to suppress their desires and wants in order to meet the obligations, more basic needs and things that have to do with their kids, like education, training, activities or clothing.
Well, it’s hard to say. According to the research hive study, 1 in 2 consumers admit not being emotionally attached to any brand in the super market. Instead, they claim to have a number of brands that they trust and prefer. This is especially so for the youngest (18-24 y.o.) & the eldest targets (55-65 y.o).
Trying to find the answers amongst those brand lovers, we were surprised to see that rational criteria had entered the love equation. A brand that has good value for money (even if it doesn’t offer the best possible quality) has high chances of winning consumers hearts.
Love is one thing yet loyalty is another. Only 24% stay loyal to the brand they love, purchasing it every single time. The rest decide to take their chances with other temptress brands
It seems that a brand today cannot but take into consideration the need to facilitate consumers, enabling them to enjoy the brand that they love in their everyday life.
On the other hand, consumers were in position to detect inspiring brands, brands they may not embrace in their everydayness, but hold admiration for them. What were those most motivating brand features? Younger targets appreciate design, style and fit to own lifestyle. We have indications that escapism, uniqueness and positive mood is a trigger for 25-34.
Older targets appreciate trust & reliability, while economy re-appears as an inspiring element for 55-64, who seem to maintain a flatter relationship with brands vs other targets.
Causes: Generation Y bond better to brands that support social causes. This generation need to feel good about brands they buy, and feeling good with brands today has shifted from how the brand makes me look . . .to what story the brand tells about me as a person.
Process: Generation Y relate more to the way products are designed and build rather than the product itself. So let them in behind the scenes, show them how the product is actually made. . .or in the best case . . .ask their advice, and co-create together.
24/7: this generation will not wait for tomorrow. When they seek information or even to buy a products, this has to be now! So stay connected, make products available to them the moment they want them.
Experiences: Generation Y are dedicated to living their life to the fullest, that’s why they respond best to brand that promise them a “once in a lifetime experience”.
Future: this generation is not interested in what you have done in the past, in fact past glories are often scrutinized by Generation Y as “those that brought us here”. So think ahead and promise them how your brand will enrich their life in the near future.
Understate: Generation Y thrive on being the first to discover and share. So be discrete about your brand, understate its worth and allow Generation Y the joy of discovering your brand themselves. The impact of their voice will be worth what you understate.
Bite sized info: this generation can pay attention to and digest only bite sized information. So consider the length of your message or posts. Be concise and to the point.
Transparency: Generation Y are great at reading behind the lines. So be transparent, be yourself, look them in the eye and tell them your true brand story.
Freebies: Generation Y love giveaways, and they want instant gratification. Offer them something free or at little costs that they can take away right now.
Talk digital: Generation Y live a connected life. So make sure your website is always up to date and accessible. Respond promptly and in their text language, take the initiative to direct them to other sources of information on the Web and stay on top of your online reputation.
Pictures: Generation Y live in a visual world, a world in which your brand ought to have an identity if it is to address the specific generation. So say your brand story in pictures, and consider visual context if your are to communicate and bond with this generation.
Born between late 1980’s till the early 2000’s, Generation Y currently comprise one of the most sizable consumer segment, while it is estimated that within the next decade they will outnumber all other consumer groups combined.
The significance of Generation Y however, goes beyond their numerical size, to structural difference in attitude and behavior which tend to affect all of us, challenging basic marketing principles.
The two key pillars that make Generation Y so much more different than their predecessors are that:
The result, is the emergence of a highly educated generation, empowered and market savvy, but full of emotional and behavioral contradictions.
Generation Y are impatient and eager, demanding instantaneous gratification for any effort. They don’t believe in building for the future and they don’t want to wait. They want what they want. . .and they want it now.
They are natural multitaskers, living simultaneously in a multi-screen environment. This renders them little to no attention span, since according to Medina, author of “Brain Rules” we are biologically incapable of processing attention-rich inputs simultaneously.
Needless to say, this generation has moved all its media consumption online, where they process information on a more intuitive level, responding better to short, sharp messages.
Generation Y sees the world in pixels. They are far better at digesting and expressing themselves through visual context. Pictures for Generation Y have deeper meaning and are more reflective of emotions than text will ever be.
Experiences and opportunity for adventures are big with Generation Y, and rank much higher in their preference than the acquisition of goods.
For this generation it’s more about the journey and less the destination.
Generation Y does not want to be sold to, they catch on to and immediately dismiss advertising gimmicks. What they do appreciate is true, authentic brands who build consistent brand stories.
Vs. their elder counterparts, Generation Y are less brand conscious. They take a more distant stance to brands, and relate to them in a more pragmatic manner. Furthermore, the meaning of brand for this generation has shifted from symbolic cues to more intangible values like free time, unique media content and support of philanthropic causes.
They are great ambassadors, they personally take on the responsibility of recommending, praising, punishing and warning against . . . products, brands, services. Whether good or bad, you can rest assured that this generation will spread the word in an extrapolated voice.
“Word of mouth . . .or mouse” is big with Generation Y, since they embrace brands that are recommended by and popular amongst others like themselves.
