Actionable shopper segmentation aims to identify groups of shoppers with similar needs and behaviors, so that each group's distinct needs can be met. The most effective shopper segmentation strikes the right balance between two competing objectives: on the one hand, to recognize that not all shoppers are alike, and retailers will require differentiated strategies to meet the spectrum of shopper needs; and on the other hand, to recognize that many of these differentiated strategies will be implemented in an environment in which key variables, such as price, assortment and merchandising, cannot be tailored to the individual household.
Simply put, actionable segmentation balances the need for complex approaches with the need for a simple framework for execution.
The exhibit hall at last week's National Retail Federation 101st Annual Convention in New York was full of new cutting-edge applications for attendees to evaluate. The atmosphere was electric with positive vibes from buyers and sellers for the new year.
NRF billed the event's theme as Retail's New Rules. This was manifested in many ways, but two stood out: one was an on-site survey of attendees, and the other was a presentation of new merchandising strategies for retail growth.
Maxpoint Interactive, a firm that helps retailers and brands drive in-store traffic with technology that delivers scalable neighborhood-level online campaigns, accumulated 101 New Rules for Retail by surveying retailers, technology vendors and consultants on the show floor. There were four common themes...
