Consumer and Shopper Insights

Knowledge is Power. That Means We’re Powerful.

In retail, knowing your customer is essential. Everything else is secondary. Is your product answering a need? Which products and/or features will be most successful on shelves — and why? What about in-store and online pricing, placement and promotion? Are you keeping tabs on trends to use as inspiration? Answering these questions will help you optimize your assortment, innovate new products, tailor the shopping experience, and drive sales.

But many retailers and manufacturers simply don’t have the answers. More importantly, the symbiotic relationship between consumers and the retail environment is easily overlooked. For example, your offering may be better than the competition, but consumer perception — and their actions — may not reflect this. You may have a game-changing product innovation, but a merchant wants data to support a change to their assortment. Consumers may be willing to pay more for your brand, but without data to justify your brand selling at a premium price, a merchant may choose to include a lower cost brand. Shoppers may be looking for the solution that your product offers, but retail sales associates may not be recommending your product.

Consumer and shopper insights can help uncover the “whys” and “why nots” to these questions — and Premium’s Consumer Insights team is best equipped to give your company answers.

How our clients use consumer and shopper insights to drive sales:

  • Derive consumers’ real preferences for product attributes such as warranty, size, packaging and brand while identifying their willingness to pay for those preferences
  • Innovate new products that address and eliminate consumer pain points or respond to market trends
  • Pinpoint where consumers learn about products when shopping in order to make profitable marketing decisions
  • Understand path to purchase such as shopping online versus in-store, use of demonstrational videos, and impact of customer reviews
  • Test new concepts to determine purchase probability
  • Strengthen in-store selling techniques through research
  • Provide valuable market and consumer information to retailers which reinforces supplier-retail relationships
  • Use data to support retailer buying decisions
  • Gain insights into rate of recommendation by retail store associates to identify opportunities (such as training and sales incentives) to improve product promotion

Premium invites you to review a sample Consumer Insights presentation.

Hear it for Yourself

“…The Premium team was able to provide in store sales support, real-time customer feedback and product training that was invaluable to understanding the performance of the program and driving sales at the store level. Not only did they engage hundreds of contractor customers on our new offering, they captured names and contact information for these customers so that we can build an ongoing relationship. They also made sure our end cap was up and trained hundreds of associates. The program delivered excellent short term benefits…but the long term dividend of this…will be huge!”

-Lithonia Lighting Vice President of Retail Sales, Lithonia Lighting

“As our high season approached in 2012, using [Premium’s] QTrax POS, we discovered that some of our historically top-selling SKUs were underperforming forecasts in key retail locations. We had some ideas as to what the cause of the problems might be, but Premium helped us to quickly confirm the issues consumers were encountering in our high priority stores. They also rectified the problems with spot packing down product, organizing our space and updating our on hand counts to be accurate. As a result, we were able to quickly recover and drive more than 50% sales increases in the visited stores.”

-Rain Bird National Account Manager, Rain Bird

“The market research from Premium was absolutely essential to our successful launch at retail. Not only did it help us refine our approach to the market including pricing and packaging, the data was critical in convincing the merchant to move forward.”

-PF WaterWorks President, PF Waterworks

“Premium’s creativity and market research capabilities set them apart from other consulting agencies in the industry. They have helped us conceptualize and market test ideas that will help us dramatically grow our hand tools business.”

-JS Products, Inc. President and CEO, JS Products, Inc.

“Premium was able to help us identify and size a completely new market for growth and turn our thinking 180 degrees on which channels to target.”

-Origin Point Brands VP Sales, Origin Point Brands

“The analysis was so compelling that Home Depot’s merchant team doubled their opening order right there in the meeting,”

-Lighting Science Group General Manager, Lighting Science Group

“I have been working as a vendor to retail for a long time at Black and Decker, Emerson and a couple of other large manufacturers. Our ability to react to what is happening in specific stores for specific SKUs is one of the most powerful retail tools that I have ever seen. On a monthly basis it drives real sales opportunities for us and for our retail partners. It also makes us a more valuable partner to the retailer and allows us to differentiate on something other than pure cost.”

-Lighting Science Group Vice President of Retail Accounts, Lighting Science Group