In the fast-paced world of retail, understanding shopper behavior is crucial for driving growth and enhancing the customer experience. At VideoMining, our mission is to unravel the intricacies of in-store shopping by dissecting each individual micro-moment to identify active behaviors in every millisecond of the shopping experience. Through the fusion of powerful AI technology and behavioral science, we empower retailers and CPGs to gain visibility to the entire shopper journey from the moment they enter the forecourt to the moment they walk out the front door.
One of the key aspects of our in-store research is deciphering and quantifying the time that a shopper spends simply walking past a product, actively searching and navigating the store, and truly "shopping" at the shelf. By slicing behavior into navigating versus active shopping, we can examine decision-making processes in a whole new way. For instance, our data reveals that beer shoppers in c-store spend an average of 7 seconds navigating before entering into an average 15 seconds of active shopping. These micro-moments are critical in shaping a shopper's journey and influencing their purchasing decisions.
However, not all shoppers convert, and there is a significant amount of opportunity left on the table. In the case of beer, our research indicate that only 42% of actively engaged c-store beer shoppers shoppers convert into buyers. This challenge is by no means exclusive to the beer category. In fact, in c-store, only 21% of active shoppers of sports drinks become buyers.
This level of leakage highlights a massive opportunity for retailers and CPGs to optimize their strategies and enhance the shopping experience. By understanding the power of each in-store stimulus and how it plays a role in shaping micro-moments, businesses can better tailor their efforts to address the needs of their customers, ultimately driving growth and increasing conversion rates.
Understanding the nuances of shopper behavior, from navigation to active shopping, allows marketers to make informed decisions that attract, engage, and convert shoppers. With the right strategies in place, the opportunities for growth and success are limitless. Without the right insights in place, many opportunities are left on the table.