In the Category Management/Shopper Insights space, there’s a fallacy that Decision Trees or Market Structures have a nearly interminable shelf life, with companies often waiting three to ten years before refreshing the work.
This prolonged interval is now being scrutinized, with more of our clients posing the question: "We did this in [insert year]... when should we revisit?"
From our perspective, considerations for the optimal cadence can be made based on the following:
· Was your last assessment pre-COVID, during the pandemic, or post-COVID? The shopping landscape has drastically shifted amidst these phases.
· Did your previous work occur before the recent inflationary environment or during its peak?
· Have you or competitors introduced innovations in the category?
· Has increased attention to eco-friendly/sustainability efforts impacted shopper preferences?
· How about healthier/better-for-you aspirations?
· Has there been a shift in channel share of preference? Are shoppers more likely going online in your category?
The reality is few categories remain static; change is the only constant. At Vista Grande, several clients have opted to refresh the work on a two-year tempo or even annually.
Even if the learnings remain consistent, regularly sharing fresh insights with key customers bolsters your standing as a category thought leader. This is especially true when insights encompass a comprehensive understanding of your shoppers' identities, their motivations for shopping in your category, preferred shopping destinations tailored to their individual needs, and their intuitive navigation of product attributes to create a consideration set.
When it comes to robust shopper insights, there's no such thing as “too much of a good thing.”
