A recent research undertaken by CISCO Retail (in UK & US) revealed that retailers should pay attention to two customer segments: calculating shoppers and extreme shoppers.
Calculating shoppers (56 percent of the general population) use the web to inform their buying decisions. Extreme shoppers (11 percent of the general population, with a high representation from Generation Y) use the web and smart phones to turn shopping into a low price battleground. And while extreme shoppers receive the most attention, it’s the larger group—calculating shoppers—that has the greatest impact on retailers’ revenues and margins.
The behavior of calculating shoppers is increasingly shaped by technology. In fact, 1 in 3 calculating shoppers use retailers’ Facebook pages and coupon-sharing sites, while 1 in 4 use web-based group buying sites such as Groupon. They also prefer to research products online rather than to speak with store staff. Most important for retailers, calculating shoppers expect to increase their value-seeking behavior over the next two years, further accelerating margin pressures.