How can retailers increase their sales despite consumers' increased tendency to save money? This is where customer inspiration comes into play as an important factor. In the following, we take a closer look at the study results on this topic and show how innovative online advertising solutions such as Converto Augmented can help to arouse customers' interest.
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Background: Customer inspiration study reveals increased tendency to save
The latest customer inspiration study by the Research Centre for Retail Management at the University of St.Gallen sheds light on the challenges facing the retail trade in view of the sharp increase in consumers' tendency to save. With an increase from 27.8% in 2016 to 39.3% in 2023, it is more important than ever for retailers to find solutions to maintain sales despite increasing price pressure.
Customer inspiration as a success factor in challenging times
The study highlights the importance of customer inspiration to encourage consumers to buy even in difficult economic times. After all, customer satisfaction will no longer be a decisive factor in 2023. It is much more important to stimulate and inspire consumers. By inspiring customers to discover desirable products and offers, their purchasing behaviour will increase significantly.
Impact of customer inspiration on shopping behaviour
The study also shows that inspired customers tend to visit physical shops and/or online shops more often. Furthermore, the study concludes that inspired consumers buy more products at higher prices than planned.
Converto Augmented's role in customer inspiration
Converto Augmented offers retailers the unique opportunity to create immersive and personalised experiences for their customers. By using augmented reality and other innovative technologies, products can be presented in a fascinating way and consumers can be inspired.
This is because AR-based advertising media allow content to be presented in an interactive and appealing way. For example, products can be displayed in 3D within the advertising banner or projected directly into your own home. It is also possible to configure and try on products directly in the displayed advertising banner.
AR banners go one step further than traditional advertising media and allow consumers to think outside the box. They stand out and offer a completely new experience. This increases not only the interest but also the brand engagement of the consumer - and it increases the average purchase amount.
Target groups and relevant contact points
The study highlights that certain customer groups, such as experiential shoppers, are more open to inspiration than others. Here, both younger target groups and women may have a higher interest in inspirational offers. Converto Augmented enables retailers to reach these target groups through different channels in real time and address them with appropriate advertising materials and messages.
The balance between inspiration and reality
However, the study also concludes that over-inspiration can have negative effects. Customers should not be promised more than the retailer can deliver. Converto can take this into account when planning campaigns.
Conclusion: Converto Augmented as an innovative way to inspire customers
The customer inspiration study of the Research Centre for Retail Management shows how important customer inspiration is in retail. Converto Augmented offers retailers an innovative solution to inspire customers and increase interest and engagement. Converto Augmented helps advertisers bridge the gap between consumers' increased tendency to save and increased customer inspiration.
Learn more about Converto Augmented here: https://converto.com/converto-augmented
If you have questions, write as an email info@converto.com or give us a call +41 43 255 20 10.
Detailed study results including a free sample and further information can be found at: https://www.handelsliteratur-hsg.ch/