Better Understanding the Consumer’s Path to Purchase

We know that consumers shop differently for various goods and services. But we can always learn more.
Millward Brown Digital recently produced a report entitled “Demystifying the Consumer Journey?” A free download is available with a simple login.
The chart below summarizes the average length of a shopper’s journey (in days) and  the level of involvement accompanying a purchase decision (in other words, how hard the consumer was willing to work to make a purchase decision). Millard Brown concluded that:
“The risk of making the wrong decision is a powerful thing. When a wrong decision could result in significant financial loss or impact personal safety, consumers invest more time and care in the decision-making process. As a result, the average journey length for an auto purchase, for example, is nearly 10 times longer than that of a beauty purchase.”
“A ‘retailer-centric’ approach to budget and resource allocation is often the easiest option. However, by placing the consumer at the center, retailers can tailor budget allocations to the digital touchpoints that drive real consumer action.”

 

 

This entry was posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing and tagged , , , , , , , , , , , , , . Bookmark the permalink.

One Response to Better Understanding the Consumer’s Path to Purchase

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