Citibank

IPSOS RETAIL PERFORMANCE CASE STUDYCitibankEvaluating the role ofPOS in bank retail“Using Ipsos’Shopper Engage wasa brave andinnovative trial for us,but it has provedto be worth the timeand money spent.”Kit Chow,Vice President Head of Research/Marketing, Citibank Hong KongCitibank was keento understand howconsumer behaviourwas influenced bydifferent merchandisepositioning within itsflagship Hong Kongbranch.The clientFound in more than 100 countries,Citibank is the consumer banking armof the financial services giant Citigroupdelivering a wide array of banking,lending and investment services toindividual consumers, as well as to smallbusinesses with up to $10 million inannual sales.Its branch network comprises localoffices complemented by electronicdelivery systems including ATMs, theinternet and a mobile banking platform.The challengeCitibank was keen to understand howconsumer behaviour was influenced bydifferent merchandise positioning withinits flagship Hong Kong branch.Measuring the awareness of in-storemerchandise and understanding theattitude towards in-store POS wouldenable it to evaluate the effectiveness ofPOS material, while allowing it toefficiently and effectively allocateresources and set priorities for differentin-store merchandise offers. Citibank wasmainly concerned with the followingdeliverables:• Do customers recognise the in-branchmerchandising items and do theyinteract with them?• How do customers ‘shop’ in thebranch – do they establish ‘tracks’or set routes around the store?The solutionCitibank chose Ipsos Retail Performance’sShopper Engage solution, which offersunbiased, natural observation ofconsumer behaviour.The Shopper Engage research involvestracking consumers remotely on discreetvideo around the store, following theirmovements and actions. The unobtrusivenature of the technique ensures thatconsumer experiences areuncompromised so that observedbehaviour is totally ‘natural’.The collected video experiences areanalysed using proprietary Ipsos softwareagainst the project objectives. Typicalconsumer experiences with underlyingpatterns are reviewedin depth by our experienced team ofbehavioural psychologists to understandthe key customer facets that are drivingthe in-store offering.The observational work is based onamassing numerous customerexperiences from the point of entrythrough to the time they leave the store,capturing the route they follow, theitems they touch, the visual cues theygive. For the Citibank Hong Kongproject 1,427 consumer ‘journeys’ weremapped over a 10-day filming period.What we didTo answer the brief, Ipsos RetailPerformance observed and measuredcustomers’ flow within the branch andthe routes they took, enabling Citibankto make better decisions onmerchandising item locations.Ipsos reviewed Citibank Hong Kong’sbranch floor plan layout, pointing outany potential ‘barriers’ that hinderedcustomers from actually going to certainareas and interacting with the POSmerchandising or having a betterexperience in the branch. Hot and coldspots were detailed allowing Citibankto evaluate what in-store marketing wasworking and what was not. From theobservation, Ipsos Retail Performancewww.ipsos-retailperformance.com

IPSOS RETAIL PERFORMANCE CASE STUDY“Great insightshave been gained,enabling us toprovide thewarmest customerexperience.”Kit Chow,Vice President Head of Research/Marketing, Citibank Hong KongIpsos Retail Performance34 Walker Avenue,Wolverton Mill,Milton Keynes,MK12 5TWTel +44 (0)1908 682 700Fax +44 (0)1908 682 739Email info.rp@ipsos.comthen enriched the feedback withqualitative analysis offering suggestionsand advice to overcome potential flaws.From the powerful analytics, detailswere discovered about the role of POSin bank retailing, which differs greatlyfrom that in conventional retailing.Instead of drawing attention topromotions or new product lines,in bank retailing POS re-enforcesbrand values, builds and creates awarenessof products and provides productinformation.Findings from the Ipsos researchunveiled to Citibank that the successof POS materials is achieved by aligningcontent and display type with thedemands of the location.Some key observations were madein the study, including recognition thatmerchandising materials in a bankenvironment have little scope to driveinstant sales, as there is an absenceof impulse buying in branch.The outcomeWith the insights gained from theShopper Engage research, the Citibankmarketing and advertising teams are nowable to manage internal clientexpectations better and provide targetedPOS that works best in branch.Kit Chow, Vice President Head ofResearch/Marketing, Citibank HongKong, said: “Using Shopper Engage fromIpsos was a brave and innovative trial forus, but it has proved to be worth thetime and money spent. Great insightshave been gained enabling us to providethe warmest customer experience.”About Ipsos Retail Performance Ipsos Retail Performance provides footfallmonitoring solutions, shopper tracking systems and in-store behavioural research toretailers worldwide. Its core products Shopper Count, Shopper Interact and ShopperEngage scientifically measure all aspects of a shopper experience from store entry toexit. It supplies national and international retailers with essential business metrics todrive accountability and performance improvement. You can find out more atwww.ipsos-retailperformance.com.About Ipsos Founded in France in 1975, Ipsos is the only independent marketresearch company that is controlled and managed by research professionals.In October 2011 Ipsos completed the acquisition of Synovate. The combinationforms the world’s third largest market research company.With offices in 84 countries, Ipsos has the resources to conduct research wherever inthe world our clients do business. Working both on a global scale and in local markets,our expert teams give our clients the benefit of high value-added business solutionsincluding qualitative, forecasting, modeling, market knowledge and consumer insights.Ipsos professionals deliver insightful expertise across six research specialisations:advertising, customer loyalty, marketing, media, public affairs research, and surveymanagement.Ipsos has been listed on the Paris Stock Exchange since 1999 and generated globalrevenues of €1.14 billion ($1.6 billion U.S.) in 2010.Visit www.ipsos.com to learn more about Ipsos’ offerings and capabilities.www.ipsos-retailperformance.com