|An electronics store in the Savico Megamall. Shopper marketing, a new technical term, is a new way to build brand equity, engage shoppers and encourage shoppers to buy. — VNA/VNS Photo Tran Viet
HCM CITY (VNS)— "Shopper marketing", a technical term meaning using any marketing stimuli to build brand equity, engage shoppers, and lead them tobuy, is helping European and Asian companies increase income by 20 – 25 per cent, even during the global financial crisis, international delegates heard at a conference in HCM City yesterday.
"Shopper marketing is the new definition on how to directly approach and sell goods to shoppers, not to general customers," Phan Thi Tuyet Mai, deputy chairwoman of the Sai Gon Entrepreneur Club, said.
Speaking at the conference on shopper marketing in Viet Nam, Mai said, "The new marketing definition has become familiar all around the world for around seven years, but in Viet Nam it is new.
"It is the best solution to help enterprises during recession. It is very useful for making plans in 2014," said Trieu Ton Phong, general director of MSV company.
Shopper marketing finds out how customers buy and why they choose certain brands. Many shoppers buy unconsciously, without calculation.
"So, bring your brand name into the customers' unconsciousness. One shopper will decide because of the family, for example. A lot of companies have done well in the general market, but still have lost because they did not do well in the retail sector," Richard Burrage, Cimigo's executive director, said.
In the retail industry, more commodities are being sold based on two factors: the first, on how to connect with shoppers, and the second on how to lead them from being a shopper to a buyer.
For both retailers and brand suppliers, these two factors have become goals in order to increase their income.
"There are seven principles for retail that can lead shoppers to becoming buyers, including reasonable price, convenience, available goods, benefits, services, surprise and the senses," Vu The Du, development director of MSV Group, said.
According to MSV Group statistics, budgets allocated for shopper marketing have increased 21 per cent annually, and 73 per cent of brand suppliers and 86 per cent of retailers said shopper marketing was effective.
At least 55 per cent of enterprises said they would increase budgets for shopper marketing within the next three years. And 59 per cent of consumers and 85 per cent of buyers confirmed that this would affect their decisions rather than outside factors. According to studies, consumers only trust advertisements 25 per cent of the time, while 70 per cent trust strangers who have knowledge of the products. Ninety per cent believe in relatives or friends who have used the products. — VNS