New Research from Location Data Pioneer Blis Identifies the New Consumer Path To Purchase
NEW YORK, June 28, 2018 /PRNewswire/ -- Blis, the global pioneer in advanced location data technology, today launched the findings of an in-depth study exploring consumer behaviors leading up to and during the point of purchase. Detailed in a new report entitled Locating Decisions: A Marketer's Guide to Re-Navigating the Consumer Path to Purchase, the research shows consumers have begun to adopt a non-linear path to purchase that encompasses multiple start points dotted across channels and platforms.
Just five years ago, the majority of shoppers placed TV ads as the primary source of knowledge for new product discovery, closely followed by friends and family. Blis' research suggests that this has flipped almost entirely: fewer than one in four respondents indicated they rely on TV for new product discovery today, instead favoring the store as a source of inspiration. Almost one-third of consumers reported that in-store browsing remains their primary product discovery channel, followed by targeted online/mobile advertising. And, while most of a consumer's research still happens online via a laptop/desktop or mobile phone from 6pm onwards, data shows more than half of shoppers will visit a store at least two to three times before making a sizable purchase.
"In spite of all of the time and money being invested in new channels like video, influencers, UGC and online, for the majority of consumers discovery starts where we've traditionally known the journey to end: the store," said Gil Larsen, VP Americas at Blis. "What's perhaps even more eye opening is how likely shoppers are to spend more once they're in store. Where consumers begin their discovery journeys significantly impacts how they spend their dollars, and there's an incredibly compelling narrative developing for retailers on how to rethink in-store strategies using location insights and construct a new path to purchase compass to navigate multiple consumer touchpoints."
While, at first glance, in-store browsers look to pose a problem for brands trying to market to and influence them using technology, a significant percentage (36%) browse both mobile and physical stores at the same time to check for prices and product availability presenting a huge opening for retailer messaging. One out of four respondents indicated an offer from another retailer offering a bonus gift or "buy one get one" type offer would change their mind, and 20% would be swayed by a targeting online/mobile ad offering a price reduction on a similar product elsewhere.
"At every moment, especially in store, there are still ample opportunities to sway consumers even if they are at the point of purchase. Brands that aren't taking advantage of this additional opportunity to persuade consumers are missing out on critical touchpoints within the purchase journey," added Larsen. "By understanding where and what consumers are browsing via location and behavioral data, brands can create more targeted and highly personalized ads, increasingly the likelihood of conversion."
As discussed in Blis' previous whitepaper Unlocking The New Consumer Hierarchy Of Needs, brands are still coming to terms with the new retail landscape. This research paper takes it a step further by offering guidance on how these "Conscious Consumers" are experiencing the customer journey and when/how brands should be interacting with potential shoppers, especially through the use of location insights. More like a web than a traditional path, the complexity and lack of causal progression within this new shopper journey presents untold challenges for brands. When navigated correctly, the myriad touchpoints offer new ways to influence consumers and, ultimately, sell to them, both on their terms and wherever they happen to be.
Visit blis.com for more information on location-based tactics, or download Locating Decisions: A Marketer's Guide to Re-Navigating the Consumer Path to Purchase to discover what new touchpoints are driving consumer toward the final purchase decision, as well as recommendations for retailers and brands to navigate these new trade routes.
Blis conducted market research through AYTM, surveying 2,000 consumers across the U.S. at every socioeconomic level, to uncover shopper preferences and how they like to best interact with brands.
About Blis
Blis is the global pioneer in location data. Our proprietary technology and platform helps agencies and brands use location data to better understand consumer behavior, allowing for effective targeted advertising to drive business outcomes. We believe that where you go defines who you are, and advertisers must capitalize on these insights for meaningful marketing experiences across devices. Our technology filters and scales location data, giving advertisers access to the most accurate location events, location data, and unique devices. The data is then applied across the apps that matter most to their consumers for targeting based on rich insights. Clients are supported by our location experts or can work in an agnostic service model of their choice. Since creating the world's first location data technology platform in 2004, Blis has grown to be a global company with 17 offices across 5 continents. Blis' clients include all major holding companies as well as leading brands in top verticals including Samsung, McDonald's, HSBC, Mercedes Benz and Peugeot. For more information, visit www.blis.com.
Contact information
Jamie Crespi
VP Marketing, Blis
jamie.crespi@blis.com
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