How Your Clients will Buy From You in 2023

By Tamara Reid, Global Head of Strategic Partnerships, Timely Business Management Software

WHY YOU NEED TO STEP INTO YOUR PRESCRIPTIVE POWER, NOW!

The clients of today are not the clients of yesterday and they are not the clients of tomorrow. In a world where the only constant is constant change, being able to balance the needs of today with the demands of tomorrow is a careful balancing act that anyone who cares about the future survival of their business must juggle.

As we shift focus for 2024 it’s important to gain perspective on how you can keep pace in this ever-changing world, without running out of steam. After reflecting how people spend through a retrospective lens, the retail industry has identified four client profiles who must be prioritised by looking at the drivers of their behaviour, their wants and needs, and – most importantly – the action points you need to take today to win their hearts, minds (and money!) tomorrow.

From The Regulators and anti-hustle culture Connectors, through to The Memory Makers and techoptimistic New Sensorialists, what unites these four clients is a shared need for realignment – with themselves, their world, and the planet. So, how can you ensure your retail strategies marry up with how these clients buy, continue reading to find out.

THE REGULATORS

Overwhelmed by internet fog and change-averse, Regulators look for frictionless buying experiences to maintain control and keep a healthy work-life balance.

Engagement Strategy:

Driven by the rapid success of click-andcollect during the pandemic, Regulators are quick adopters of an easy and convenient buying experience, paired with the certainty of a scheduled pick-up. In 2024, Regulators will choose door to door delivery for items left off subscription purchases or those forgotten essentials – think toilet paper, coffee, medicine. Speed and seamless ordering will be key for this cohort.

THE CONNECTORS

Taking a stance against hustle culture, but not being lazy, this client is exploring fractional lifestyles (co-buying and subscribing) and quitting their jobs as they redefine the meaning of success.

Engagement Strategy:

Sometimes the sales are in the small details. For the Connectors, cost-per-use (aka how many mls am I getting for the price I’m paying), sustainability and authentication details on labels and boxes are value-drivers that will result in sales and social shares. While not a new innovation, track-and-trace technology is going to be a client expectation in 2024. In 2021, Dermalogica presented its Digital ID, which can trace a product from production through to sale and even recycle.

Brands including INSKIN, PBS and CaronLab will implement the ID in 2022. Sustainability fact labels are another growing strategy, which can be used as an awareness tool for clients and an accountability tool for brands, allowing for greater transparency.

THE MEMORY MAKERS

In 2024, this client will transform a quest for perfection into a quest for being present, by decluttering their social and work lives and investing in time abundance.

We have moved from unprecedented times to trying times, to trying to make the most of time. For the Memory Makers, the coping mechanism has been to anchor themselves to the past because the past doesn’t change. It is stable.

Engagement Strategy:

For the Memory Makers, ageing well is not about vanity but extending their lifespans to enjoy their time living.

Whether it’s spending time with loved ones, investing in new hobbies, or simply finding moments to daydream, products that allow Memory Makers to ‘age well’ will be prioritised. This means lots of retail opportunities in tradition and the ingestible beauty space, so ensure your shelves are packed with collagen and age supporting products. both worlds – digital wallets for in salon physical purchases, VR moments they can feel in real life (like QR code scanning) – and they are driving virality in-store and online. Get ready for the New Sensorialists’ energy in 2024.

While some clients are taking a balanced approach to the Everything Net, the New Sensorialists are flocking to it faster than a TikTok reel. This client is the quintessential hybrid buyer. They’ll pay with ApplePay while dining in-person. They will unlock online loyalty rewards to be used for reallife products. They’ll invest in NFT artwork to be displayed in their homes. They are not fearful of tech, but hopeful.

Engagement strategy:

Driven by the rise of the direct-to-client economy, play-to-earn rewards and digital wallets, your business needs to capture this client. If digital monetisation isn’t on the table and you don’t have a client loyalty program in place for example, then you’ll need to consider ways to strategically show up through online consultations, digital partnerships, or even virtual events - like activating a VIP Facebook group for your clients.

While this new wave of futuristic client might feel a little daunting heading into the new year, you should use this knowledge as an opportunity to delegate tasks required to satisfy these client purchasing strategies to someone on your team who loves the online space - if that is in fact not your strong suit.

By getting on the front foot of digital marketing, e-commerce and online consultations, your business will feel lighter and become more profitable in the long run, because it directly speaks to the way in which your clients are purchasing - something we’re all longing for!