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Inside the Mind of the Shopper: The Science of Retailing

By Herb Sorensen

Published by FT Press

Published Date: May 6, 2009

Description

What do you really do when you shop? The answers are fascinating and, for retailers, they're cash in the bank. In Inside the Mind of the Shopper: The Science of Retailing, world-renowned retail consultant Dr. Herb Sorensen, Ph.D. uncovers the truth about the retail shopper and rips away the myths and mistakes that lead retailers to miss their greatest opportunities. Every year, says Sorensen, shoppers will spend a quadrillion seconds in supermarkets and they'll waste 80% of that time. Sorensen analyzes consumer behavior–how shoppers make buying decisions as they move through supermarkets and other retail stores–and presents powerful, tested strategies for designing more effective stores, improving merchandising, and driving double-digit sales increases. He identifies simple interventions that can have dramatic sales effects, and shows why many common strategies simply don't work. You'll learn how to appeal to the "quick trip" shopper; make the most of all three "moments of truth"; understand consumers' powerful in-store migration patterns; improve collaboration between manufacturers and retailers; learn the lessons of Stew Leonard's and other innovators; and much more. Then, in Part II, Sorensen presents revealing interviews with several leading in-store retail experts, including crucial insights on using technology and retailing to multicultural communities.

Table of Contents

Author's Notes and Acknowledgments     xv

About the Author     xxi

Preface: Rethinking Retail     1

Introduction: Twenty Million Opportunities to Buy     5

 

Part I: Active Retailing     23

Chapter 1: The Quick Trip: Eighty Percent of Shopper Time Is Wasted     25

Chapter 2: Three Moments of Truth and Three Currencies     47

Chapter 3: In-Store Migration Patterns: Where Shoppers Go and What They Do     69

Chapter 4: Active Retailing: Putting Products into the Path of Shoppers     97

Chapter 5: Brands, Retailers, and Shoppers: Why the Long Tail Is Wagging the Dog     113

 

Part II: Going Deeper into the Shopper's Mind     131

Chapter 6: The Quick-Trip Paradox: An Interview with Unilever’s Mike Twitty     133

Chapter 7: Integrating Online and Offline Retailing: An Interview with Professors Peter Fader (The Wharton School) and Wendy Moe (University of Maryland)     147

Chapter 8: Multicultural Retailing: An Interview with Emil Morales, Executive Vice President of TNS Multicultural     161

Chapter 9: Insights into Action: A Retailer Responds: An Interview with Mark Heckman of Marsh Supermarkets     179

 

Part III: Conclusions     189

Chapter 10: The Internet Goes Shopping     191

Chapter 11: Game-Changing Retail: A Manifesto     199

 

Part IV: Appendix     205

Appendix: Views on the World of Shoppers, Retailers, and Brands     207

 

Index     213

 

Purchase Info

ISBN-10: 0-13-263937-8

ISBN-13: 978-0-13-263937-8

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