Consumer packaged goods. Most marketers who hear CPG think immediately of fast-moving products like packaged foods, beverages, toiletries, candies, cosmetics, OTC drugs and dry goods. But there is another CPG: considered purchase goods. While we work with both, today we wanted to look more closely at the latter.
The thought put into what kind of toilet paper you are going to buy is waaaay different from the thought that goes into buying a TV. Or refrigerator. Or mobile phone. Or tires. Or windows. Or furniture. You get the idea. But why is that important to pay attention to? Because the shopping journey is incredibly different even though it’s the same consumer.
Another thing to take note of: since considered purchase goods cycle into people’s lives less frequently, there’s a whole learning curve when that shopper goes out after 5 years, 10 years or even 15 years and sees how much the product has changed since the last time they bought.
The first thing that impedes their shopping decision? Sticker shock. Shoppers are immediately questioning their brand loyalty when the thing they bought X years ago only cost X and now you can’t even get a low-end version for the price they paid. Yes, intellectually they understand that time and inflation have played a role, but they are open at that point into considering other brands they may not know as well but offer more affordable options. This is where many brands lose loyal shoppers. The next thing to halt them in their tracks? Often, they don’t recognize nor understand the value of what they are getting because they are behind the curve on the application of the tech. This makes them reluctant to trust what to buy.
As much as pricing and products have changed, so has the shopping experience. What used to be a traditional trail to the sale has evolved and integrated with many more inputs along the way. Your shopper and your product are considering purchases in a wide variety of new ways. Is your marketing keeping up with the changes?
So, let’s unpack why we wanted to write about this:
- If you sell considered purchase goods, what are you doing to nurture your brand/consumer relationship awaiting the next buy? Nurturing a brand relationship for years used to be unheard of. But simply pushing out the right content on an ongoing, hyperlocal basis can help shoppers feel a bigger connection to your brand and deliver a compelling story as to why to buy again. You need to have a plan and the capability to do this because keeping a customer is always better financially than trying to reach a new one.
- Have you looked at who the gatekeeper to the sale is today vs before and are you ensuring “they” assist with the sale? We say “they” because we have found that it has shifted from sales associates to online search engines/storefronts. Digital interactions today happen not only online but also at point of sale and can deliver so much more data on your shopper and the ability to incent them to buy through offers and information. Ensuring all your touchpoints work together is something we do every day.
Long story short: Considered purchase goods are not a one and done selling proposition. If you want to audit your category to see how well your repurchase efforts are working, we can help with that! We would love to see what’s happening with your products and pull all your options together for you. Let us know what you would like to be considered for your CPGs at arthurelliott.com.