Travel Retail Awards 2020: M1nd-set consumer data insights explained

By Andrew Pentol |

Peter-Mohn-awards

 Peter Mohn, Owner and CEO, M1nd-set.

Each year, those participating in the Travel Retail Awards in association with Mind-set receive complimentary data revealing how consumers rate their product or airport retail experience. With entries now open for the 2020 edition of the industry’s only consumer-voted awards, Peter Mohn, Owner and CEO, m1nd-set, reveals more about this data and how previous awards participants have benefitted.

Q. What are some of the key insights consumers have provided about the products they have judged as part of the Travel Retail Awards and how do the insights vary from category to category?

A. The insights for brands and airports are based on feedback from 5,000 travellers who have shopped at airports in the past six months at the time the study is undertaken. Brands receive detailed feedback on a number of criteria including value for money, quality, uniqueness, suitability to travel retail, innovativeness, product experience and general appeal.

They also receive in depth insights on the customer segments — region, age or gender — that gave the top three and bottom three ratings for each criterion, as well as detailed scores for each segment (age, gender, travel purpose and region). In addition, they can compare their ratings in comparison to the average of all other products in the category, so there’s valuable benchmarking too.

With the airport insights, a similar level of depth is provided for all customer segments. The criteria is different of course. Consumers judge the airports on the following aspects: customer service, digital and social media offer, sense of place and overall retail environment.

Q. What have been the most surprising comments from the consumers?

A. We were actually positively surprised about how open and honest the consumers are when asked their opinions on various specific products. The answers are not always pleasant for the brand owners, but it is by far the best way to improve a product, packaging or communication, when hearing it directly from the consumer in an unfiltered way. Many brand owners learned a lot about why shoppers actually like their products and some were surprised that certain aspects, which internally they thought as a strength were not appreciated at all.

m1nd-set-feedback-new

Participants receive in depth insights on region, age and gender.

Q. How have travel retail exclusives performed in the Awards and how important are they to the shopper experience, based on the feedback from consumers in the judging panel?

A. Overall, good travel retail exclusives are the absolute favourites in the evaluations and shoppers just love them if they are different and unique. We can see that travel retail exclusives have a very significant impact on the overall shopping experience and from all parts of the world interestingly.

Q. How have Awards participants reacted to the insights provided as part of the programme?

A. The reactions of the Awards participants have been extremely positive. We were expecting a positive reaction, but it was overwhelmingly encouraging. It shows that more and more industry players are finally understanding the importance of talking to the end consumer to receive objective and useful feedback to better meet the needs of the actual shoppers.

One fascinating case we know of is where a category-leading brand, which did not win in the first year of the awards in 2018, actually made changes to the product based on the feedback and won the award in 2019! Most importantly, this brand has experienced double digit-growth off the back of the insights.

Mumbai-Duty-Free-Travel-Retail-Awards-2019

Chhatrapati Shivaji International Airport, Mumbai (BOM) and Mumbai Duty Free picked up the award for Best Airport for ‘sense of place’ in May.

Q. What’s new for 2020 in the Travel Retail Awards as far as the consumer insights reports are concerned?

A. We have received many suggestions and ideas on how to further improve the feedback and insights from consumers. We are currently working intensively with the TRBusiness team on the 2020 edition with record breaking participants and contributions.

One thing we can announce is that we will be offering all Platinum and Gold Awards Sponsors their own customised report, which brings significant further value to the partnership packages.

New Sponsors box

 

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