P&G pop-up store could motivate consumer spending
WHAT IT MEANS AND WHY IT'S IMPORTANT In this lackluster economy, retailers are fortunate that such vendors as consumer products giant Procter & Gamble are investing in ideas like the pop-up store in New York to encourage consumers to try new products and loosen the grip on their wallets and buy.
(THE NEWS: P&G unites innovation with value for multipronged campaign. For the full story, click here)
As the article stated, P&G opened on Oct. 22 a temporary store in the high-traffic area of West 57th St. near Sixth Avenue in an effort to reach consumers and demonstrate product innovation and quality.
Giving rise to the pop-up store and the overarching "Have You Tried This Yet?" campaign is that fact many women say they feel overwhelmed when shopping for family essentials, and the recognition that manufacturers need to do more marketing after the first six months of a product launch. This is why the 18 products featured in the overall campaign are those that have launched within the past 16 to 18 months.
In a national survey conducted in September among 1,000 women in the United States, P&G found that 48% state the majority of their daily stress occurs inside their homes, with more than half saying they often feel overwhelmed with all the responsibilities they face in caring for their loved ones, including shopping for their families' needs.
Furthermore, 73% of women said they sometimes are disappointed with their purchase of household products, describing that roughly 25% fail to live up to their expectations. However, 84% of women do like to try innovative products they find while shopping, and 96% indicated that they often seek out products for under $20 that can help with household needs.
These findings are especially critical given today's economy as consumers have fewer dollars to waste on products that do not deliver on their promise. By creating the pop-up store, P&G is providing consumers with a risk-free, fun venue to learn more about product innovation and how such products can simplify and enhance their life. This means the next time they are shopping in the store they likely will be more inclined to buy, buy, buy.