Customer Centric Merchandising Marketing Market by Type & Forecast during 2017 – 2025
The customer is always right’ is the oldest slogan taught to every marketing person, manager and prospective student. In reality, what the customer wanted (or thought they wanted) was decided not by them but the company corporate headquarters. This was the situation for several decades but not anymore. Customers today are well-informed, educated, and know exactly what they want. Higher customer expectations and rising awareness has led to the formation of the Customer-Centric Merchandising & Marketing Market. While many retailers are making great strides in customer-centric marketing and customer service, merchandising has not progressed as much.
Gradually, retail has evolved from buying products and negotiating costs to deciding where products should be located in the stores and on which shelf. This then progressed into category management where the category manager was delegated responsibility to set prices and plan promotions. A further evolution of category management was adding customer insights into it to help decide pricing and promotion policies. True customer-centric merchandising in the Customer-Centric Merchandising & Marketing Market doesn’t attempt to impose customer insights onto traditional category management. Instead, it completely redesigns the process by allowing customer tastes to drive management decisions, which in turn helps to achieve sales targets rather than hinder them.
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China has become the world’s largest retail market this year, making the largest Customer-Centric Merchandising & Marketing Market too. Mobile accounts more than half of all e-commerce purchases in the country making it very important for long-term growth.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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