Profitable Retail: Hearing Customers’ Needs & Wants

We are diving into our ability, as retailers and brands, to hear our customers’ needs and wants to help us build strong, loyal relationships.

I was in the drive-thru at Mcdonald's recently and ordered a McFlurry. The cashier said, “no we’re out”. I'm left idling. I wanted ice cream but ended up leaving the drive-thru.

We had a disconnect.

It turned out, the ice cream machine was broken. Instead of ending the transaction, the cashier could have asked me “are you after something cold, it's really hot out”. I probably would have said yes and considered a smoothie instead. The ability to identify consumers’ wants and needs is imperative for a retailer.

How can you learn more about your customers?

RETAILERS: 

• Ask budtenders, “what are our customers' needs?” They are on the floor talking with your customers every day and will be able to give the best feedback. 
• Identify and prioritize those customer needs so that you can deliver authentically (i.e., Price, Quality, Choice, Convenience, etc.)
• Keep a close eye on competitors, as they can influence your customers’ expectations and needs

BRANDS: 

• Get 360 feedback from budtenders
• Meet with sales teams and ask, “what are our retailers' needs and wants?”
• Provide budtenders with the resources to help navigate the pricing ‘need’ mindset, so they can guide the customer journey

Creating a profitable retail environment is about the small adjustments we make over time that have a big impact.