Know Your Customer’s Buying Motivation

Knowing your customer’s buying motivations are key to succeeding in all business, especially in today’s tough retail store market.

How to Know Your Customers Reason for Buying

So often I see small business owners marketing features and products that they “think” their customers want – which in fact they don’t. Before you select your products, layout your store and advertise your sales KNOW your customer’s preferences.

Case in point is a recent case study about convenience stores buyers the most important factors that fueled their selection of retail outlet. While the most convenient location is #1, as expected, the other top buying motivations were telling:

  • Price and value of products
  • Merchandise selection
  • Overall Value

Armed with this knowledge I advised store owners to:

Get Return Customers with Value Pricing and Wide Selection

This recent convenience store customer survey revealed that price and a wide selection of merchandise are among the top decision factors of which convenience store they visit — six times more important than brand loyalty. Instead of investing deeply with expensive major brand merchandise, spread out your inventory dollars to include a wider selection of more items, especially food and grocery, which increased 10 percent last year as compared to the declining restaurant market. Feature lower prices by buying secondary and local brands as opposed to top-name brands to reduce your costs, allowing you to sell at lower prices — especially important for frequently purchased items like milk, bread, and eggs.

Get started image

Ready to get started?

Get the expert support you need

Start Now

Related Articles

Keeping Up With Your Customers No Matter How Often They Change

by Adrian J. Slywotzky, on June 05, 2023

8 Ways To Improve Customer Satisfaction

by Team ZenBusiness, on June 05, 2023

How to Encourage Customer Loyalty

by Patricia Twitchell, on June 05, 2023

Pricing Strategy: Are Your Retail Customers Driven Only by Low Prices?

by James Bulger, on June 05, 2023

10 Ways to Grow Your Business One Customer at a Time

by Liz Tahir, on June 05, 2023

INCREASE YOUR SALES BY REVERSING THE RISK

by Bob Leduc, on June 05, 2023

Start Your $0 LLC Today