Inside the Mind of the Shopper The Science of Retailing

ISBN-10: 0137126859
ISBN-13: 9780137126859
Edition: 2009
Authors: Herb Sorensen
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Description: What do you really do when you shop? The answers are fascinating and, for retailers, they're cash in the bank. InInside the Mind of the Shopper, world-renowned retail consultant Dr. Herb Sorensen, Ph.D. uncovers the truth about the retail shopper  More...

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Book details

List price: $36.99
Copyright year: 2009
Publisher: Wharton School Publishing
Publication date: 5/6/2009
Binding: Hardcover
Pages: 256
Size: 6.50" wide x 9.50" long x 1.00" tall
Weight: 0.880
Language: English

What do you really do when you shop? The answers are fascinating and, for retailers, they're cash in the bank. InInside the Mind of the Shopper, 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. Drawing on Sorensen's breakthrough second-by-second analysis of millions of shopping trips, this book reveals how consumers actually behave, move, and make buying decisions as they move through supermarkets and other retail stores. Sorensen 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.

Herb Sorensen is a preeminent authority on observing and measuring shopping behavior and attitudes within the four walls of the store. He has worked with Fortune 100 retailers and consumer packaged-goods manufacturers for more than 35 years, studying shopper behavior, motivations, and perceptions at the point of purchase. Sorensen's patented shopper-tracking technology PathTracker� is helping to revolutionize retail marketing strategies from a traditional "product-centric" perspective to a new "shopper-centric" focus. As Baseline magazine commented, "Herb Sorensen and Paco Underhill are the yin and yang of observational research."Herb has conducted studies in North America, Europe, Asia, Australia, and South America. His research has been published in AMA's Marketing Research, The Journal of Advertising Research, FMI Advantage Magazine, Progressive Grocer, and Chain Drug Review, and he has been utilized as an expert source for The Wall Street Journal, Supermarket News, and BusinessWeek. Additionally, he is currently a panelist of Retail Wire's "Brain Trust."Herb was named one of the top 50 innovators of 2004 by Fast Company Magazine, and shared the American Marketing Association's 2007 EXPLOR Award for technological applications that advance research, with Peter Fader and his group at the Wharton School of Business of the University of Pennsylvania. Herb has a Ph.D. in Biochemistry.

Author's Notes and Acknowledgments
About the Author
Preface
Introduction Twenty Million Opportunities to Buy
Twenty Million Seconds: Shopper Time Is Mostly Wasted
Time Is Money: Shopper Seconds per Dollar
Leaving Money in the Aisles: The $80 Million Question
Planning Our Trip
Shopping Serengeti
Endnotes
Active Retailing
The Quick Trip: Eighty Percent of Shopper Time Is Wasted
Three Shoppers: Quick Trip, Fill-In, and Stock-Up
Rise of the Small Store
Perils of Promotion
The Big Head and Long Tail
Heads You Win
The Communal Pantry
Layered Merchandising
The Right Paths for the Right Shoppers
Purchase Models and Selection Paradigm
Spending Faster
Conclusion: Dual Chaos
Endnotes
Three Moments of Truth and Three Currencies
Moments of Truth
Seeing the Truth: Eyes Are Windows to the Shopper
Reach: Impressions and Exposures
Stopping Power (and Holding Power)
Closing Power
Three Currencies of Shopping: Money, Time, and Angst
A Complex Optimization
Endnotes
In-Store Migration Patterns: Where Shoppers Go and What They Do
If You Stock It, They Will Come
Understanding Shopper Behavior
First Impressions: The Entrance
Shopper Direction: Elephant Herds
The Checkout Magnet
Products Hardly Ever Dictate Shopper Traffic-Open Space Does
Managing the Two Stores
Five Store Designs
Where the Rubber Meets the Linoleum
Endnotes
Active Retailing: Putting Products into the Path of Shoppers
Active Retailing
Put the Right Products in the Path of Customers
Double ConversionTM: Converting Visitors to Shoppers to Buyers
Packaging Must Play the Starring Role
Holding Power-How Long Is Long Enough?
Stopping and Closing Power: VitalQuadrantTM Analysis
Playing the Niche
Good Is the Enemy of the Great
Endnotes
Brands, Retailers, and Shoppers: Why the Long Tail Is Wagging the Dog
Where the Money Is in Retail
Massive Amounts of Data
Shifting Relationships
A Refreshing Change: Working Together to Sweeten Sales
Beyond Category Management
A New Era of Active Retailing: Total Store Management
Pitching a Category's Emotional Tone More Precisely
Retailers Control Reach
The Urgent Need for Retailing Evolution
Endnotes
Going Deeper into the Shopper's Mind
The Quick-Trip Paradox: An Interview with Unilever's Mike Twitty
Endnotes
Integrating Online and Offline Retailing: An Interview with Professors Peter Fader (The Wharton School) and Wendy Moe (University of Maryland)
Endnotes
Multicultural Retailing: An Interview with Emil Morales, Executive Vice President of TNS Multicultural
Endnotes
Insights into Action: A Retailer Responds: An Interview with Mark Heckman of Marsh Supermarkets
Conclusions
The Internet Goes Shopping
Entering the VideoCart Age
Cell Phone Invasion
Implications for Retailers and Brand Owners
The Power of Model Makers
The Model Business
A Fivefold Increase
Endnotes
Game-Changing Retail: A Manifesto
Appendix
Appendix: Views on the World of Shoppers, Retailers, and Brands
Excerpts from "Views from the Hills of Kentucky" by
Index

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