Toy market news

Do retailers have a firm understanding of their shoppers?

“Creating multiple communication mechanisms to keep shoppers engaged with your brand through direct, tailored personalization is required, especially with the GenZ consumer who expects a brand to speak to them as an individual,” said Junior Pence, CMO of Peace Out Skincare.

What hinders many brands is not having the proper tools to collect first-party data on their shoppers. Most of them rely on clicks, purchases, and third-party data. We believe that every media dollar should double as a research dollar and so they really need to be collecting first-party data on customer preferences, future purchase plans, personal tastes, allergies, and thousands of other data points that can dramatically improve the relationship between brand and consumer.

The pandemic has made it clear that personalization is essential for every brand, going from a luxury to a necessity. The Omnichannel becomes the standard. Most probable, shopper acquisition and retention become more similar than ever.