The importance of listening to the shopper's voice
To drive sustainable growth brands need to have a very detailed view of their shopper's perspective.
Collating and organising shopper's reviews from multiple sources is a powerful tool enabling almost real-time actionable insights.
Companies that are adaptable are able to remain relevant to their shoppers over time and be a resilient organisation.
By quickly pivoting NPDs and even your entire business model according to shopper feedback, you can still grow revenue while testing public response until the product fit is perfected, or even evolve a failed product into a successful re-launch.
Delighting shoppers is an essential goal of any business. Listening to the shopper’s voice is the only way to work out what the market wants and if your product can fulfill this need. Yet this crucial task is often seen as the sole responsibility of the sales and marketing teams, instead of being taken seriously at a strategic level.
If the market evolves and a company fails to move with it, even established businesses like Virgin Megastore can famously lose their way if they stay static when the market changes around them. If a consumer goods company can understand the shopper and can adapt to the rapid changes in the market, then they can stay relevant, can innovate and reinvent themselves to lead in their categories. Listening to and learning from the shopper’s voice is a fundamental element of success. As Brian McBride, Chairman of ASOS and of AO.com, said at this years Retail Business Conference, “companies either evolve or die”.
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Discover how to get the most out of all the shopper feedback available to modern businesses
Learn from examples of: companies that have benefited from listening to the shopper’s voice, and products that have failed as a result of ignoring the market, as well as one of the world's largest companies who learned from their mistakes and can re-launch with better market fit.