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CHICAGO, IL -- A better understanding of the shopper is critical to the future business success of retailers and manufacturers, according to results of a study presented by Gunnard Johnson, v.p. and managing director, Shopper Insights, TNS and Bill Bishop, founder of Willard Bishop Consulting, at the 6th Annual Shopper Insights in Action Conference held here.
"Retailers and manufacturers both see collaboration as a way to ensure a joint focus on better satisfying the needs of shoppers," said Bishop. "The key is to quickly convert the new insights into action in the store."
The study, "Walking the Talk on Shopper Centricity," focuses on how the area of shopper insights is evolving into a new form of shopper marketing that's expected to transform the shopping experience. It reflects the input of a broad cross-section of the CPG industry, including almost 40 manufacturers, retailers, and other experts.
"To completely understand where shoppers are today and where they're headed in the future, we need to combine learning from a range of different sources," said Johnson. "It involves combining what we're learning about shopper behavior with a new understanding of shopper attitudes."
"While it has always been important to focus on shopper needs, we've learned that most companies must transform the way they build these new shopper insights into actions in order to capture all of the potential benefits," said Bishop. "We're already seeing how this can change manufacturer/retailer relationships in ways that grow the business."