1 min listen
Understanding 'Buying' vs. 'Shopping'
ratings:
Length:
40 minutes
Released:
Jul 19, 2022
Format:
Podcast episode
Description
This week we go sans guest to unpack an increasingly important strategic and executional distinction which Steve first dug into in a 2018 Forbes article and then subsequently developed in his best-selling book. Understanding the critical difference between "buying", which is more about addressing a need quickly and efficiently, and "shopping" which is inherently more solutions based and involves more of an emotional connection, can go a long way to informing both our underlying business design and go-to-market strategy, as well as how we evolve the customer experience and targeted marketing programs. We start with a bit of a history lesson, discussing how convenience has evolved and how the growth of e-commerce and new, disruptive store formats have reshaped the competitive landscape and led to increasing bifurcation of outcomes. Then we discuss what it all means for our future strategic choices.But first we open up with the retail news that caught our attention this week, including what to make of staggeringly high inflation rates, the potential implications of the just released US monthly sales report, and whether we should really care about Amazon Prime Day(s) anymore. We also hear a bit about Michael's trip to the Netherlands and his battles dealing with the big Canadian internet outage of 2022. Photo by Karsten Winegeart on UnsplashSpecial thanks to our presenting sponsor, MarketDial!About MarketDialMarketDial helps brick-and-mortar retailers conduct in-store testing on their innovative initiatives – preventing poor decisions, empowering great decisions. About UsSteve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is now available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast, The Voice of Retail, plus Global E-Commerce Tech Talks , The Food Professor with Dr. Sylvain Charlebois and now in its second season, Conversations with CommerceNext! You can learn more about Michael here or on LinkedIn. Be sure and check out Michael's latest venture for fun and influencer riches - Last Request Barbecue, his YouTube BBQ cooking channel!
Released:
Jul 19, 2022
Format:
Podcast episode
Titles in the series (100)
Retail isn't dead - boring retail is.: Season 1 Trailer I'm here to tell you: Retail isn't dead. Boring retail is. As a C-level executive at two Fortune 500 companies, keynote speaker and strategic advisor to dozens of retail, consumer and technology brands I help organizations accelerate their growth. I’m also the author of the new best-selling book, “Remarkable Retail: How to Win & Keep Customers in the Age of Digital Disruption”. Join me and my co-host Michael LeBlanc, Producer & Host of The Voice of Retail podcast, as we use my “8 Essentials of Remarkable Retail’ framework to explore modern retail, before, during and after the COVID-19 crisis. Each and every week along with special guests including top retailers and industry thought leaders, will explore the latest events and work to understand the lessons of the past and present to craft strategies for the future. So please join us each and every week starting September 29, 2020 for a lively and interactive journey t by Remarkable Retail