The New Shopper - Informed, Connected and Demanding!

It is amazing how Apple rules over its consumer's mindsets. They pre-sell millions of products and even get away with shortcomings (think iPhone 4 signal issues) without hurting their fan base. Only Steve Jobs has the ability to instruct his consumers to stop holding the phone 'the wrong way!' But, Apple fanatics are a rare breed providing such leeway to a seller. In the times that we live in, it is difficult even to get shoppers' attention. To think of commanding what, where, when and how they buy is like daydreaming. Shoppers today have complete control and they have tools at their disposal that facilitate this authority.

So, what has lead to this shopper authority? Internet and other digital mediums have essentially changed the way we shop. The effect of internet shopping is far greater than the dollar value of online sales transactions. It is the influence on offline shopping where online produces a much bigger impact. Let's list down some of things that have changed shoppers' attitude and in effect transformed the retail landscape.

Information Access - Consumer today has copious ways of learning about products. Given enough time, anyone can be an expert in a product they intend to buy. Today, most shoppers educate themselves about a product even before they get to a retail store or its website. This has huge impact on how retailers treat these intelligent shoppers.

Multiple Channels - Gone are the days when mail catalogs and brochures were enough to fire consumer's purchase appetite. With access to numerous channels, consumers are now connected and ready for action 24x7. Many shoppers access 3 to 4 channels before making a purchase. The most important catalyst is mobile, which is leading the makeover of the shopping experience. But, others like interactive TV shopping are not far behind.

Social Technologies - Social media has not only changed the way we interact with our peers, but also how we interact with retailers. The word-of-mouth (positive or negative) has taken a completely new dimension and retailers have to be wary of what happens on social networks and communities. Consumer's ability to express and listen to opinions is changing the way products are made and marketed.

Change in Behavior - All this has decidedly changed consumer behavior. Consumers today are much more expressive, highly involved and want their voices heard. Besides sharing their shopping experiences, they also want to be involved in developing new products and retail experiences.

Their Voice Carries Weight - This is an important factor that has brought shoppers to a commanding position. Never before was consumer's voice heard with such keen interest. Shoppers today expect retailers to listen, respond and take appropriate actions. Retailers have to follow suit lest they face consumer backlash.

Retailers and product manufacturers have an uphill task of satisfying today's consumers who are much smarter than their predecessors. The new breed of consumer is knowledgeable, empowered, social, and has high expectations. Retailers have no choice but to adjust to these expectations if they want to survive in this age of shopper dominance.