Consumer Shopping Habits – Need vs. Want

Need is only a small part of why shoppers buy things. Want, which is typically driven by emotions, makes up a large part of why consumers choose to purchase things. Because of this, it’s up to you as buyers of your retail stores and designers / owners of wholesale businesses to try and understand both the need and want of consumers today. Balancing the reality between the two and your specific business can help enhance your overall success in sales, allowing you to really capture an audience that stays dedicated to your store or product. The first step in doing this is understanding the difference between products consumers need versus products consumers want.

For example, as cooler weather approaches, consumers start to think about a change of wardrobes and new essentials they will need – or want – to keep them warm. Some consumers already have their staples, such as coats and boats, taken care of and in their closets with no care as to what the new fashions may be. Others, however, may have gained or lost some weight and NEED something new while others want to stand out in the latest trends, therefore WANTING to get a new coat. These examples represent two different types of consumers, though two is just a small example of the many types of consumers that exist. As retailers and wholesalers, it’s important to try and understand just who your audience may be when trying to make a sale. Will he or she NEED to get your product or is it more likely your product will be sold on a WANT basis?

Once you have identified the type of product you are selling, you can then support it with marketing and merchandising that will help capture the audience you believe it will be sold to. Make sure your sales team, whether as wholesale reps or in store sales associates, are educated on the reasons someone may NEED a certain product as well as why someone should simply WANT that product. In addition, make sure they know how to listen and understand your consumers so that they can help make the sale accordingly, trying to sell it as something someone “has to have” simply because it’s a hot trend or looks great on someone or likewise, because it is something they must have to meet the needs they are looking for. Each consumer is different, therefore each sales pitch may need to be altered and of course, each reason for purchase will be varied. Recognizing these points in a competitive marketplace is important in keeping your business healthy by making smart, educated decisions on your marketing, merchandising, product purchases and more. Listening and reacting to consumer purchasing trends in your business can help give you an edge, as well. Don’t ignore the reality that consumers really are your bosses when it comes to your success. Their decisions as to if they NEED something you sell or really WANT something you have makes all the difference in how your business will succeed.