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GfK Consumer Journey Demo

Powered by The Consumer Insights Engine

Turn your lost shoppers into your customers

Every brand loses some shoppers during the purchase journey. Do you know where you lost them, why, and to which competitors? Can you quantify the value of your lost opportunities?

With our Consumer Insights Engine, you can answer these questions and many others. We’ll help you to identify when and why shoppers choose a competitor and how you can convert more customers from consideration to purchase. 

Here’s an example from Q1 2018 Germany TV purchasers…

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We start by selecting the market, product group and time period

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Now, let's look at why customers are purchasing elsewhere, so we can resolve the issue

How many shoppers considered and purchased your brand?
1) Step One

What is the conversion rate for my brand?
2) Step Two

What is the size of Lost Shoppers for your brand?
3) Step Three

Which brand did your Lost Shoppers purchase instead?
4) Step Four

What drove final product choice for your Lost Shoppers?
5) Step Five

Who are your Lost Shoppers?
 
6) Step Six

Let's start by looking at the proportion of shoppers that considered and purchased your brand for the TV purchase


20% of TV purchasers considered your brand, but only 9% purchased your brand.

Now, we’ll zoom in on those that considered your brand but did not purchase.
Step_2_What is the conversion from consideration to purchase for my brand
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Among those that considered your brand, 55% finally bought a competitive brand.

Here’s how much your lost shoppers may have cost your business in volume and revenue.
Step_3_ What is the size of Lost Shoppers for my brand
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169,000 shoppers considered your brand but didn’t buy it.

This represented €87.7 million in lost sales*.

Converting just 10% of those lost shoppers could have added an additional €8.77m to revenues for the quarter.

*Based on an ASP (Average Sale Price) of €518

The CIE can show which brands your lost shoppers purchased instead of yours.
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The largest proportion of your lost shoppers purchased Brand A.

You can also see which factors tipped the scales for your lost shoppers when they were choosing a TV brand.
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Compared to the market as a whole, your lost shoppers were more concerned about price and screen size.

Might this mean you should re-evaluate your pricing, promotional calendar and product portfolio as a potential way to increase conversion among these shoppers?

The CIE can also show you the demographic profile of your Lost Shoppers, which is vital for targeting
Gender
Age (years old)
Adults
Child household size (no. of children)


Compared to the total market, your lost shoppers are more likely to be 45-64 years old and to live on their own with no children.

With the GfK Consumer Insights Engine you can now:

  • Quantify the volume and value of your lost sales
  • Identify which customers you lost
  • Know where they searched and shopped
  • Understand what they bought instead
  • See why they went elsewhere
  • Most importantly, you’ll know what to do about it because the insights will help you make smarter, faster business decisions.
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