How retailers can appeal to families

Many families are having to make changes to their shopping habits due to the cost-of-living crisis, showing increasing resilience and savviness when making a purchase. There has never been a better time to understand how retailers can appeal to families, with a greater focus on convenience, value and flexibility,

These changing habits present an opportunity for retailers that take note of how families are feeling and turn data into action.

How retailers can appeal to families

The Very Group is a brand that has successfully managed to appeal to families. At Retail Week LIVE, Lionel Desclée, Group CEO of The Very Group shared his top tips on how retailers can appeal to families.

Here’s how retailers can appeal to families:

Convenience

Retailers can create a convenient experience for shoppers by allowing them to purchase in their preferred ways and streamline the process wherever possible.

To achieve this, retailers can invest in technology, such as apps. Data collection and analysis is also essential in understanding what ‘convenience’ means to the chosen target market and using this to guide business decisions, such as the introduction of subscription models.

Flexibility

Shoppers now look for flexibility with payments, making sure it aligns with their budget. This is proving to be a popular method of removing one of the common barriers to purchase.

Retailers can find ways to offer flexible payment solutions, including the option to pay in installments. By finding the safest, most appealing methods of offering payment flexibility,  retailers can help to look after customers and give them opportunities to purchase.

Value

Consumers expect value, however, it is important to remember that there are various definitions of ‘value’. From value for money, to long-lasting products, sustainable manufacturing, or giving useful recommendations, there are various aspects of a purchase that shoppers value most.

Retailers should begin by identifying the most important types of value for their target market and then finding ways to offer this value.

Ways to offer value can include:

• Introducing a lower cost, budget range
• Making tailored product recommendations by using data
• Introducing rewards schemes to give back to shoppers
• Ensuring products are long-lasting and high-quality
• Using automation to save money and pass on the cost savings to customers
• Making sure product ranges meet preferences, e.g. sustainable items

Summary

Families are focusing increasingly on the aspects of a purchase that matter most to them, including convenience, flexibility and value. By understanding the changing expectations of consumers and aligning with these, it is possible for retailers to grow loyalty with families.

Now is the time for retailers to invest into solutions that solve consumers’ pain points.