Sunday, October 26, 2008

Retail Sales - Identify your customer

At the risk of sounding like a moron in front of a premier supplier in the bike business, I figure it would be important to cover the basics.

Bicycle consumers cover a broad spectrum of the population. However, I've tried to simplify this to help educate a retail shop's sales staff.

The Comfort Buyer.

Typically this customer is similar to the recreational user. When a Comfort Buyer is making a purchase decision it is based on their need to be comfortable on the bike. This can apply to gloves, a saddle, apparel, or a bicycle. This customer usually has a fairly minimal amount of brand awareness but can easily be upsold with tech talk. The Comfort Buyer is willing to part with cash if it will make them more comfortable.


The Value Buyer.
This guy likes to shop around and hunts for what he thinks is a great deal. Value buyers spend a long time in the pre-purchase phase researching different products and their price points. This guy isn't particularly brand or shop loyal; he is "buying to save". However, the value buyer will spend more for a product if the marketing has proven the product's effectiveness. The Value Buyer is willing to part with cash if it makes him feel like he got a bargain.


The Performance Buyer.
This customer is easy to identify. Most men will have shaved legs and most women will be fit. They are basing their purchase decision on what they think will be a competitive edge. The Performance Buyer is almost always highly informed and most likely to be brand loyal or brand aware. The marketing strategy here is to focus on technological advancement and hype. The Performance Buyer is willing to part with cash if it will make them faster.


All of these customers are willing to pay more and buy now if the company's marketing has properly sold them a brand image.

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