Alter Agents, a market research company based in Los Angeles, has rolled out a new shopper insights program to help national brands and private brands get a better idea of what influenced a shopper to buy the product.
The Shopper Influence Research program, as it’s named, includes proprietary research methodologies, and data from the company’s newly fielded 2021 shopper study. Rebecca Brooks, founder and CEO of Alter Agents, told Store Brands, that the research program examines the research behaviors of recent purchasers in a category regardless of the brand purchased.
“Our work is centered around the shopper's experience — what they researched, what influenced their purchase decision, what content they were looking for, what they ultimately bought and why. Unlike most traditional brand-focused research our methodology captures all the category competitors including private label brands or categories with limited brand familiarity (i.e. home improvement brands).”
Alter’s recent shopper study indicated that 76% of shoppers want to be as informed as possible when making a purchase decision. The firm said retailers with owned brands need to know where their shoppers are going for information, which information is most influential and where the opportunities lie to intersect with consumers. Alter Agents Shopper Influence Research methodology provides a turnkey way for brands to understand:
- Source usage: Where shoppers are going for information and which sources they are using the most;
- Net Influence: How influential each source is in the shopper’s decision-making process to help focus the most impactful marketing spend;
- Shopping process: The firm’s “Shopper DIAL” gives a deep look at a shopper’s final brand choices, comparing initial conceptions to final purchase decisions.
These elements, when combined with other available metrics and data streams, add up to exponentially greater audience understanding, providing a strategic roadmap for brands to implement practical, tangible business solutions, the company said. The methodology is the latest iteration in a decade’s worth of shopper research from Alter, starting with the firm’s Zero Moment of Truth study for Google in 2011.
“Our latest research reinforced what we already know: brand loyalty is rapidly losing relevance,” said Brooks. “Today’s shoppers have limitless options and information at their fingertips, and they’re taking advantage of that power. This reality has a host of implications for marketers. We address these challenges directly with our new shopper influence research methodology program to give brands practical solutions to understand the modern shopper.”