The purpose of this paper is to offer retailers and manufacturers tips on adopting a comprehensive consumer‐centric approach to business in order to maintain a competitive edge in the retail marketplace.
The approach takes the form of exploring the benefits and challenges of adopting a consumer‐centric marketing approach by offering real‐world examples and statistics to retailers and manufacturers in order to aid them in implementing this approach across their own corporate environment.
Three out of four retailers (75 per cent) identify a consumer‐centric approach as one of the top three most important factors in business success. Despite the challenges of implementing and optimizing a consumer‐centric strategy, such as budget constraints and poor access to data, retailers and manufacturers see consumer centricity as a vital lifeline and a profitable alternative to a strategy based solely on price.
In order to truly influence consumers' brand selections, retailers and manufacturers must understand their consumers and behavior leading up to a purchase. A consumer‐centric strategy can provide a monumental advantage in influencing shoppers and engendering high value consumers.
The paper presents tangible tips and tools to utilize in the real world, along with statistics from 55 retailers and 65 consumer product companies.
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Emerald Group Publishing Limited
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