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Retail Industries Detail

Retail Industries Detail

  • Buyer/Consumers: 22%
  • Retail Operations: 13%
  • Marketing and Advertising: 12% (seed companies, fertilizer manufacturers, food processing companies)
  • Consumer goods manufacturers/producers: 13%
  • E-commerce and Digital Retail: 15%
  • Customer Experience: 15%
  • Executive Leadership: 10%

The industry which runs on providing (goods and services) directly to the customer is Retail. Consumers/customers are buying from the front end executives of this industry. Everything which is done, from identifying needs, creating demands, manufacturing the products in demand, ensuring supply of the manufactured product to the last of the retail store and right into the customer’s hand, is to ensure customer’s need is met and money is transferring hands, fueling the economy.

The role of market research comes mostly at the beginning where ‘identifying the needs’ is required, which then sets the entire chain in motion. The researchers are supported and assisted by exclusive panellists handpicked depending on the research objective of the project. They can be categorised in many ways. However, most common among them are:

The list broadly contains enterprises, retailers and individual customers all of which could be segmented on the basis of following parameters:

  • Demographic segmentation: The panellists are segregated based on demographic factors such as age, gender, income, education, and occupation. Since different groups of people may have varying preferences and behaviours when it comes to shopping, buyers segmented like covers many aspects in detail.
  • Geographic segmentation:Here the panellists belong to specific location(s), which could be a city, a state, or a country. Regional differences impacting shopping behaviour and preferences is studied through them.
  • Psychographic segmentation: Our panellists when asked about their personality, values, interests, and lifestyle to understand different types of shopping and purchasing decisions, researchers are just using a different approach to understand buyers’ psyche.
  • Behavioural segmentation: Things like purchase history, brand loyalty, and level of engagement with your company helps decipher the researchers the ways to effectively market to different types of customers and retain their business.
  • Attitudinal segmentation:The attitudes and beliefs of the panellists towards shopping and retail brands highlight critical nuances. The brands understand better, how to effectively communicate with different types of customers and address their concerns and preferences through our exclusive panel members.
  • The professionals who work in store (like grocery, convenience, departmental and speciality) operations, merchandising, supply chain, logistics, and inventory management all fall into this category and can be used for their different insights. These panellists can provide insights into day-to-day operations, best practices, and trends in retail operations. They are the life and blood of retail functions: retail executives, store managers, customer care executives, product developers and supply chain professionals.
  • The professionals who often get the least share of the limelight for all their sleepless nights work in marketing, advertising, branding, and promotions, after the product/service gets launched. Our exclusive panellists can provide insights into consumer behaviour, effective marketing strategies, and trends in retail advertising.
  • The people who are into the process of conceptualising a product till its manufacturing are found in this exclusive panel. We have esteemed professionals like product developers, procurement specialists, warehouse managers and manufacturing engineers from all levels of management and experience from companies like Unilever, P&G, Samsung, etc. to help with your management research.
  • Since the dawn of the era of the Internet in a huge way to market, brand and sell the products and services. E-commerce is the new retailing space. This segment could include professionals who work in e-commerce, digital retail, and online marketing. These panellists can provide insights into online consumer behaviour, effective e-commerce strategies, and trends in digital retail.
  • When you want to know what’s going on in a buyer’s mind, without asking the buyer, ask the next best option: professionals who work directly in the jobs dealing with serving the customer, creating a favourable customer experience, thus leading to customer success. These panellists can provide insights into customer expectations, pain points, and trends in customer experience.
  • Without a leading command, the ship would sink in no time. The Retail Industry stood strong even in the time of pandemic. To better understand the industry, one needs to understand the segment including senior leaders who steer the ship with their experience in roles like CEOs, CMOs, and COOs. The insights into strategic planning, industry trends, and best practices for leadership in the retail industry is their forte.

Overall, by segmenting the professional panellists based on their specific roles and expertise within the retail industry, you can gain a deeper understanding of the industry trends and best practices relevant to your research objectives.