News: Kantar at MT Clinic’s Seminar 2023

Chananya Boonyarungsrit, Business Growth Associate Director at Kantar Worldpanel, was the guest speaker at MT Clinic's seminar. Drawing in a crowd of more than 160 attendees, the seminar provided invaluable insights into leveraging shopper data to plan strategies and drive growth in the fast-moving consumer goods (FMCG) industry. Chananya's extensive experience from various perspectives, including supplier, retailer, and market research from both locally and internationally, enriched the seminar with diverse perspectives. The seminar offered a comprehensive view of shopper behaviour and its impacts on sales, as well as the future of the retailer landscape, encompassing the digital realm.

The mere sales numbers do not provide the complete picture, but there are lots of driving factors hidden behind them. Businesses must analyse shopper behaviour to uncover the factors influencing growth or decline. Despite we already passed the period of Covid lockdown, some behaviour changes from that period continue; for example, how shoppers are more familiar with buying things online, how some shoppers realised that they could get what they need from convenience stores without having to go to the bigger store format, to name a few. Shoppers have become more discerning with smaller budgets. Some choose to switch to lower-priced product tiers or alternative brands. Additionally, shoppers might gravitate towards retailers that offer better assortment choices, prices, and promotions, making it essential for businesses to adapt to these shifting needs.

Increasing the number of shoppers, referred to as penetration, is the key metric for sustainable business growth. Attracting new shoppers while maintaining existing shoppers is the key to expanding the shopper base. However, the needs, concerns, and behaviours of new shoppers and existing shoppers could be different. Doing business without shopper data is like a guessing game. It is difficult to pinpoint what happens in the market and if what is working in the past is still working today. With shopper data, businesses can remain resilient even during challenging times, fostering long-term success.

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