Dimensionalizing the Hard-Copy Media Hold Out
Despite the growing digital trend, DVDs, Blue Rays and CDs represented significant but declining sales for a national electronics retailer and entertainment industry giants. Physical movie and music media departments also commonly worked as a gateway into other retail offerings. So who are these hard-core, hard-copy hold outs? Understanding them and what type of shopping experience they are looking for, in-store and online, could hold the keys to bucking sales trends and opening new revenue streams.
SIVO Insights coordinated consumer shop-alongs with pre-recruited physical media buyers and intercepted in-store shoppers in 4 distinct markets across the US. This work uncovered the relative benefits that committed these shoppers to buying physical media and detailed the mindset, emotional ties, values and personalities that fueled their distinct shopping behaviors and preferences. At the same time, SIVO Insights also discovered that although these consumers were proud to showcase their media libraries, they were not unplugged luddites who shied away from all things digital.
SIVO Insights brought the physical media buyer to life by formulating key findings into a live-action, movie trailer which was released to rave reviews. “A 5-star knock out!” said one entertainment executive. “A must-see for years to come!” said a retail big-wig. But SIVO Insights didn’t stop there. The trailer premier included an ideation session that ultimately answered two important questions: How can current company assets be leveraged to provide unique benefits to the hard-copy media buyer and where is the door open for physical and digital media crossover? Ideas from this session now form merchandising, value-proposition bundling and signage in both the retail and entertainment industries.