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Why we need to know our customers better…

Consumer focused companies take notice – here’s a GFK study that shows just how valuable customer knowledge can be to sales these days. Living proof that it’s more important than ever to really get to know your customers…

This GFK study shows that 57% of Americans are thinking more about what they are buying then they did a year ago. That’s not all – the survey goes on to say that 73 % of Americans say they ‘strongly’ or ‘somewhat’ agree that they ALWAYS buy things on sale.

Shoppers are becoming more cautious

These results show an increasingly cautious consumer base. How a consumer goods company responds to this data will be the key to bottom line results.

When you’re establishing a panel of your consumer base, you need a good background of knowledge to be able to understand more about this shift. A tried and tested panel will guide you into what direction to take.

Think about how a retailer can use the data from a panel to help establish outline rules for product placement in a store. The study from GFK also shows that 42% of Americans are willing to spend more for American products. This could result in a retailer placing a few higher priced American made items at or near the checkout counter for a quick sale.

A strong and robust panel is so important to keep a pulse on understanding your customer.

Shopping habits are shifting faster than ever

There’s only one way to beat your competitors. MARSC can help you keep track of these habits and guide you in how to react quickly to the latest purchasing habits.