01 Jul 2019
How to target effectively in a disrupted retail and consumer goods market
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Odgers Berndtson’s Consumer Luncheon Series brought together senior Japanese executives to explore how to best engage a fragmented and rapidly-changing consumer market.
After the inaugural luncheon event exploring changing consumer behaviour, the growth of online channels and how to optimize brand position locally, this second event looked at strategic targeting.
The output of this event is now available to download here.
What is the best way to prioritize and effectively reach out to specific, strategically-targeted, customer demographics?
This ‘demographics’ theme set the stage for a discussion encompassing millennial influence, the older generation’s superior purchasing power, digital and social network outreach, in-store conversions, and bi-directional traffic drivers.
Senior executives from Japan’s retail and consumer branded goods sector attended the lunch, with a discussion led by Roger Marshall, Chairman in executive search company Odgers Berndtson’s Tokyo office and the Managing Director for Business Development.
Some of the topics discussed and debated:
- How to create a sustainable pipeline of future customers.
- How important are social media influencers versus celebrity endorsements?
- Which touchpoints bring more brand awareness that converts into purchase decisions?
- What is the role of marketing events?
- How companies are focusing on targeting customers whose active lifestyles match the brand’s aesthetic, instead of grouping and targeting customers demographically.
- Creating a highly-personalised, luxury experience on digital and mobile.
- How to take advantage of having both traditional brick-and-mortar stores and online platforms in order to increase overall revenue.
Our latest Consumer Luncheon Series event provided keen insights about the participants’ current retail business pain points and insights into their thinking of how to overcome them.
It confirmed that the radical shifts in consumer behaviour will continue in the coming years. Despite this, retailers can indeed find effective ways to serve different customer target groups.
Focusing on the total customer lifecycle has always been important, but brands are now developing increasingly effective tools and strategies to approach this.
The next event in the series will explore these consumer shifts further, as well as how to embrace them as opportunities.
Download the latest Consumer Luncheon report now for the full picture: