Consumer sentiment changes every hour of every day. Knowing what customers are thinking is the key to making good decisions for your brand. Here are the top stories affecting consumers this week. Keeping your finger on the pulse, made easy.
Is your strategy still relevant?
IKEA are taking note of shifting consumer shopping and living behaviours. Less and less consumers own their home, and lots live with friends rather than partners, so they’ve responded with a shift in their own strategy. As their key consumers’ living situations get less predictable, their new adverts and website redesign focus on product innovation rather than showcasing rooms to this varied market. The change represents an appreciation that members of their key market don’t all shop the same way, and don’t shop the same way they did ten years ago. Have behaviours of your key consumers changed right under your nose? And when was the last time you checked in with them?
Are you well defended against High Street closures?
Gourmet Burger Kitchen (GBK) could be the next High Street casual dining restaurant to bite the dust. Following in the footsteps of similar chains including Jamie’s Italian and Byron Hamburgers, GBK are in talks with Deloitte to cut their portfolio of stores. A familiar tale up and down the High Street, bringing in consultants seems to be a last ditch attempt to keep afloat. But we can’t help wondering what GBK could have done earlier, to defend themselves against the worrying trend that was setting-in amongst competitors. Are you sure your brand stands out amongst the rest, and is well valued by consumers above others operating in your market?
Or is an offensive strategy better for remaining present on the High Street?
Rather than defending themselves, Debenhams have taken steps to come out fighting in the face of impending store closures. Radiating confidence, their new brand identity hopes to breathe much-needed life into the centuries-old department store. Included in the strategy is a redesign of the logo for the first time in two decades, store revamps, plus one new store opening in Watford. Their new strategy is based on research with consumers, who identified that they didn’t feel joyful when shopping any more. The new brand positioning and supporting campaign aims to spark joy amongst consumers, and drive them in store. If your brand operates on the High Street, have you identified whether a defensive or offensive approach will best keep you afloat? And is it based on real consumer insight?
Which sector could your company move into next?
In a cross-sector move, Coca-Cola, the fizzy drinks giant, has had its first taste of the hot drinks sector. The brand has bought Costa Coffee, with its 2,400 UK coffee shops and an additional 1,400 shops abroad. Coke has suggested plans to distribute coffee products in the same way as their flagship products; in vending machines, pubs, restaurants and so on. While Starbucks already offer cold versions of their main products, available in supermarkets and other retailers, Coke’s acquisition of Costa might just offer up Costa as reasonable competition. Are you actively thinking about the sectors your brand could be moving into? And do you have the confidence that consumers will warm to a new owner and the changes that you might bring?
If you want to launch a survey about any of these, or other current issues, just log in to your Attest dashboard and launch a survey to find out what real people are thinking right now.