Value shoppers are savvy purchasers with a sharp eye for the best deals. They know where to find the best discounts and coupons.
The terms value shoppers means customers highly informed about the price of a product or service. They can smell a bargain from a distance. They invest much time comparing prices, both online and offline. Also, they are more likely to buy things in bulk when they believe they have unearthed a good deal and stock up on these products. A common trait among all value shoppers is that they are always hunting for discounts.
E-commerce retailers understand the value of such shoppers. If they are not impressed by your offers and don’t find the deals they are looking for, they’ll simply turn elsewhere. You can’t afford to lose them. So, how do you pull these profitable shoppers to your store? And you have to do it consistently.
These tips will help you understand your value shoppers better.
The Shape of the Economy Impacts the Number of Value Shoppers
The number of value shoppers has clearly increased after the pandemic. It seems most consumers ditched their brand, cared little for loyalty, and started looking around for better value. The number of people shopping online surged during the pandemic, creating incredible opportunities for e-commerce businesses.
During the same time, the term shopper economics was used more frequently. It is all about how shoppers decide where to shop and their choice of products and services. Not surprisingly, shopper economics found itself heavily influenced by the economic situation. When the cost of products they plan to buy increases, they will spend time finding the best-value option in terms of quality, service, and of course, price.
E-commerce merchants must keep an eye on market developments and draw in value shoppers by pre-empting changes in shopping habits.
Value Is Not Just Great Price – It Is Also About Great Customer Experience
E-commerce can win over value shoppers by offering attractive discounts and tempting coupons, but that’s not all. They must also provide a smooth online shopping experience. This can be done by creating a user-friendly website, providing easy navigation, and sharing valuable information that can be readily accessed.
Customer experience is an intrinsic component of the value proposition. Frequently, customers willingly pay more for a better experience. Most of them make their buying decisions based on the customer service they receive.
Online retailers must ensure their site is clean and attractive to drive value shoppers to their stores. The pop-ups must be relevant and valuable, the best offers must be readily visible, and the checkout experience must be quick and seamless.
Value Shoppers Are Not Your Dedicated Customers – They Are Inconsistent
Looking at the way they shop, the last thing you can expect from value shoppers is loyalty or consistency. They are not dedicated customers whom you can rely on for regular purchases. They will check out prices on your site when your offers are better than your competitors or when there are supply issues. Also, they may visit for better online shopping options with faster and cheap delivery or just browse through a broader range of products.
You Can Gain the Loyalty of Value Shoppers with Incentives
It is not like every value shopper is not a dedicated customer. They can be convinced to shop at your online store more frequently. All you have to do is fine-tune your marketing strategy and tempt them with attractive offers and incentives. Do it consistently, and they will be encouraged to return more frequently. Play smart by adding a discount on the next purchase or offering a loyalty program or free samples.
When you announce limited-time offers, it can tempt value shoppers to visit your site more frequently and stay on for a longer time. Send out a clear message of how your price compares with last year or how you have a much wider range of products than before. It will reveal your consistent efforts to win them over and the urge to stay competitive. You can be assured of their loyalty if your prices have been consistently lower than others.
The best way to improve the sales of your e-commerce business is to get people to come back and shop for more. Encourage repeat purchases. Leverage your business data to learn about the loyalty schemes and offers that have generated the best customer responses. It will also help you target value shoppers based on their demographics.
Identifying and handling your value shoppers is not easy. Several factors are involved because they do not shop within specific parameters of customer behavior that other shoppers generally follow. To attract value shoppers to your store, you must consistently be alert. There are many technical solutions available that can help you identify and target value shoppers effectively. You can either follow your store’s analytics and establish correlations between buying patterns and pricing or bring in an analytics expert to handle the job for you.