Retailers creating ‘theatres of shopping’ is not new. However, the idea of grabbing consumers by their senses; dropping them into lavish multi-sensory experiences; and physically moving them beyond everyday brand interactions to meaningful, personalised brand engagements is. And it’s taking off in a big way.
Business Monitor International, a division of US-based financial information services, Fitch Group, rebranded its South African operation BMI Research in March 2015.
While this possible name infringement has been subject to a legal process since that time, it has recently come to our attention that it is causing confusion among clients, media and within the local business sector.
Lacklustre sales staff cost SA retailers dearly
The indifferent attitude of South African retail sales staff when interacting with customers is not only costing retailers valuable sales but, in some cases, even delivering customers right into the hands of competitors. The result is an increasingly discontented consumer base that is becoming more discerning when it comes to spending its hard-earned rands.
Consumers are looking for connections with the brands they use at multiple levels, across various digital platforms and social media channels. What’s more, the experience in stores must deliver on the brand promise; staff should know their products.
One of the biggest drivers in 2016 will be consumers’ continually shrinking wallet. This will continue to put enormous pressure on manufacturers and retailers, as consumers from across the LSM spectrum demand competitive pricing and increased value.