Different kinds of people have different attitudes to shopping. Some will buy stuff because it’s cheap, some because its expensive. Some want to browse forever, some want to buy and run. Buying a gift for a wedding you don’t want to go to vs buying a gift for your best friend’s daughter. Buying diamonds vs buying grocery.
Given the complexity of bahaviour patterns, usage, occasions, and purchase pathways, how do you arrive at what could be a handy guide to value propositions for retail brands? Here’s a point of view: V2E3. Value, Variety, Exclusivity, Experience and Expertise. Every retailer needs to pick the dominant offering and craft a combination of those that suit its desired customer base best. Take a look at how each of these come alive.
Value: Some people just can’t resist the lure of low price.
Variety: something for everyone.
Exclusivity:The dilemma and pleasure of buying something expensive.
Expertise:How often have you gone back to a shop because of a sales person, or walked out of a shop because of a sales person?
Experience:Ambience and display turned into an art form, almost.
The above post is an excerpt from a talk titled “Value Propositions for Customer Satisfaction” delivered by Mythili Chandrasekar at Asia Retail Congress, Mumbai, Jan 08