If you are a business owner and are unfamiliar with the term “Zero Consumer,” you have come to the right place. It’s high time you leveraged technology and brainstormed ideas to approach this new line of customers.
So, without further ado, let’s dive into the lives of zero consumers and understand what they want.
Who Are Zero Consumers?
In the context of consumer behavior, zero consumers are consumers who adopt practices such as minimalism, waste reduction, and a preference for sustainable and eco-friendly products. Their goal is to contribute to reducing waste and depletion of natural resources. Even though they care about sustainability, they are unwilling to pay for something costly.
They are omnichannel shoppers (shop online, offline, via mobile apps, and in stores); they splurge and scrimp together when the mood strikes, they demand excellent and fast service, and show ZERO loyalty.
Yes, you read that right! Unless you can hit all their shopping preferences, expect them to change brands lightning-fast.
Here’s how zero consumers operate:
Zero Boundaries – They Want EVERYTHING
Zero consumers want a phy-gital experience – the combination of physical and digital retailers. Moreover, they want it to be seamless and consistent. Technology and media players have raised the bar with omnichannel strategies, and consumers expect the same experience from retailers.
Currently, zero consumers are found in Asian countries. According to a survey by McKinsey, consumers buy food and groceries through omnichannels. 71% of South Korean respondents are omnichannel grocery shoppers and 19% visit stores. Other countries joining the race are 78% Indians and 74% Chinese.
Here are some examples to help you understand how the omnichannel works:
Many retailers are using online and offline platforms to deliver a seamless experience.
- Indian brand Reliance operates 18,000 retail stores and has joined hands with Meta to offer customers the ease of shopping for groceries through WhatsApp.
- Alibaba and Sephora are trying to use augmented and virtual reality to offer virtual try-ons.
- The Nike app offers users access to in-person events and in-store offerings.
- Lululemon has partnered with Peloton, a fitness tech company, to offer affluent women quality shapewear.
Zero Range – The Spend Like the Rich and Save Like a Miser
As said earlier, zero consumers like to spend and save simultaneously. They will either flock to cheap brands or premium products. For example, the findings of the McKinsey survey revealed that 81% of Chinese would spend less on home improvement and furniture, and 69% said they would splurge on fitness, restaurant dining, apparel, and travel.
Zero Loyalty – They Will Switch to Your Competitor If You Don’t Offer Value
During the pandemic, customers tried new brands and products when products ran out of stock. They kept up with it if they found something better at a cheaper price. Before, they were looking for availability, but now, they look for variety, quality, and value. 82% of Indian respondents said they switched to a new brand or retailer for better value, such as lower delivery fees, prices, and promotions.
Targeting zero consumers is a challenge that has yet to be solved. Businesses are still developing different ideas and experimenting to determine how large an impact their efforts make.
To touch points briefly, you must create an ecosystem that sells products and services to people. The Chinese shopping platform Meituan offers services from various companies. A Meituan user can shop for products, get food delivered, hail a taxi, book a spa appointment, and play games. Next, revamp your offers, and lastly, adopt labels such as “plastic-free,” “eco-friendly,” and “vegan.”
