A Nation of Switchers
Wondering where those changes in store traffic from period to period are coming from? Here's an important part of the answer.
Canada is a nation of switchers! Between 5% and 15% of consumers switch the retailer they go to most often in any particular retail sector in a typical 3 month period. (These are actual shifts in loyalty.)
Switching Dynamics from Hay Research International is a new large-sample, quarterly study of retail switching in Canada. Each study involves over 4000 switchers. Between 500 and 1000 switchers in each of 8 retail sectors are examined yielding switching information for over 50 of Canada's largest retailers. These sectors include: Hardware stores, Grocery Stores, Drug Stores, Department Stores, Fast Food, Coffee Shops and Cell Phones.
Only Switching Dynamics offers "Motivational Dynamics", a comprehensive, detailed, new system for understanding why people switch.
Marketers often make the mistake of assuming that what motivates customers at large is what motivates those who switch. There are differences. Doesn't it make sense to appeal to those who are going to more immediately affect your bottom line?
By understanding why people switch in your retail sector – and seeing how you are doing against these critical motivators – you can make immediate improvements in your market share.
The Motivation Dynamics System
Switching Dynamics offers Motivational Dynamics, a comprehensive, new motivational system which detects the broad "macro" reasons for change but enables you to drill down to the finer areas as well. In any particular sector up to 100 causes are examined. If you ever wondered how powerful "x" was as a switching motivator, Motivational Dynamics can tell you.
Most retailers have a good idea about their strengths and weaknesses. But, most don't know precisely what this means in terms of actual business won and lost. Now you can quantify this: how many, how much, where they went and, most importantly, why. Responding directly to some of the most important things they are saying can have an immediate impact on your business and your bottom-line.
Areas of Measurement
Our switching expertise involves the following areas of measurement: Switching Volumes and Dollar Estimates --the incidence of switching in the quarter by category
Why Switching's Time Has Come
The answer is simple. It's not that switching hasn't mattered in the past. It's just that we've never been able to measure it. Switching usually involves less than 1% of the total population for any single retailer. And so the study of switching has been virtually ignored, being far too difficult and expensive to manage efficiently. By employing a unique design using large on-line samples, Hay Research International has overcome these obstacles. The result is a whole new class of marketing information available now to the savvy marketer.