What a Shopper Seeks: Conveniences and Innovations By Rakhee Nagpal,

They say change is the only constant in life. That adage is certainly well reflected in the considerable and continuous movement in our industry – a result of frequently changing consumer's demands, purchasing trends and the focus on time management in merchandising to enhance value for existing buyers, which are becoming more demanding and rationale-oriented. So, what are the constants that can anchor retailers in this chaotic environment?

Indian vs global customer
There are distinct types of Indian customers; these are classified according to the analytical partitioning of a product's target consumer group, either according to their socio-demo types or according to psychological typing. They can be labelled as:
• The pleasure seekers
• The value seekers
• The novelty seekers
• The bargain hunters or whatevers

Whichever label a customer falls under, he is likely to be more sophisticated and demanding.

India's consumption growth is at the margin that always drives powerful macro and market trends. It is accelerating growth off a low base. The potential comes from the structure of the Indian economy: private consumption currently accounts for 64 per cent of Indian GDP. This is higher than shares in Europe (58 per cent), Japan (55 per cent), and especially China (42 per cent). India's transition to an 8 per cent growth path in recent years is very much an outgrowth of the emerging consumerism of one of the world's youngest populations. The increased vigour of private consumption provides a powerful leverage to the Indian growth dynamic rarely found in the externally-dependent developing world. The global customer, on the other hand, is a shopper who demands honesty and respect from retailers and brand manufacturers, more than the highest-quality merchandise or the lowest prices.

• Human values have become the contemporary currency of commerce.

• A chasm exists between what consumers want and what retailers offer, particularly when it comes to price, product, service, access and shopping experience.

• The majority of consumers are hard-pressed to identify their favourite stores in many retail channels.

• Retailers in general are not well differentiated in the minds of consumers in terms of their value propositions.

• Demographics make a difference: Throughout most of the countries studied, women were much more likely than men to rate the factors related to shopping satisfaction as extremely important, while younger consumers were less apt than older shoppers to do so.

Changing expectations

The new consumer is a butterfly, less likely to remain loyal. They are changing their mind about brand choices very often, fluttering from one product to another, operating like “butterflies”. Modern consumers are educated and experienced, and familiar with a growing choice of products and services. They take for granted the competitive trading environment that operates in most markets and expect high-quality service and value for money, as well as good marketing and information provision.

The butterfly existence in most cases does not arise out of choice, but confusion due to the tremendous amount of choices available. When people are overwhelmed by choices, they are left watching as all those things spin past them. As a result, decisions are deferred or even discarded. The famous American thinker Ralph Waldo Emerson once wrote: “Life is frittered away by detail. Simplify, simplify.” The key is about management of choice – helping the consumer make informed decisions.

As customer expectations change, so does a retailer's approach to service. Several retailers who have kept pace with the evolving customer say the most important thing that has remained constant is the belief that personal attention to customers is the key to repeat business and ultimate success.