Research about the target audiences for retail stores

Published Thursday, February 12, 2009 by allisn ! in  

Target audience by definition is the market segment toward which the retailer plans to focus its resources and retail mix. A target audience can be people of a certain age group, gender, marital status, etc. (ex: teenagers, females, single people, etc.) Retail stores usually have certain target audicences that they strive to accomodate, helping not only with a buyer's needs, but also with getting a costumer to make that store their go to retailer.
Many retailers are known for developing innovative marketing strategies that meet their target audiences perfectly. For example Limited Too caters to young girls with a taste for fashion. By creating a target market with a specific age in mind a product can be sold solely for that target group, eventually enhancing the sale and brand loyalty. Another example of great target marketing is Ann Taylor Loft, geared to women on-the-go in their 40's and 50's who want comfortable, casual, but stylish apparel.
It's most important to have a retailer focus on a main target group for the main reason that it would be almost impossible to cater to everyone. It is much easier to go to a store where you know they have what you are looking for, instead of taking all the time to walk around a mall or shopping area. These days especially are short on time, and we could all use an extra hour or two not searching for that dress we need on Saturday night.
Creating a target is the first thing a company needs to look at and evaluate, sometimes even before finding what product to sell. Having little competition, a large, and growing business is sure to help gain more profit and get your company name out there for that specific product, and not just an array of items.

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