Opinion: Shoppers want the story behind the product

It’s far beyond me to make that bet. However, with the prospect of inflation returning and mass discounting already apparent, I do know that success will require many retailers to define value for customers in a new way.

A customer recently told me that the “perfect gift is a thoughtful gift” and this is a trend we’re seeing year-round.

In an online world where customers can shop from a global catalogue of products, competitive pricing and choice are no longer the only components in the value equation: customers are looking for more meaningful presents for friends and loved ones.

An example of this is the giving of experiences. The experience economy isn’t a new concept but it’s a category we anticipate performing especially well this Christmas, with experiences such as gin-making and canal boat stays among our expected bestsellers.

Value drivers

When spare time is increasingly scarce, time spent together – gifter and recipient, friend and family – is increasingly valued.

With regard to purchasing physical products, customers tell us that the best gifts are those that say something about the gifter as well as the recipient.

“Sharing the narrative around a product gives customers a point of difference to buy into and sets products apart from the mainstream”

The ability to customise and personalise gifts is a driver of value in the eyes of today’s customer.

Notonthehighstreet.com’s marketplace model has a great advantage, enabling customers to liaise directly with the supply chain – our community of independent makers – to co-create products from the outset.

Personalisation as a driver of value has become a theme for the retail sector more broadly, as we have seen in several recent campaigns.

Furthermore, shoppers increasingly want to know how, where, and by whom their products were made and are less attracted by homogeneity.

They want to know the story behind the product, and that their purchases have had a positive effect on the lives of those who made them.

Telling stories

Sharing the narrative around a product gives customers a point of difference to buy into and sets products apart from the mainstream.

This thinking is very much at the heart of our Christmas campaign this year, which highlights the stories of the people making our products as much as the products themselves.

Customers are also looking for products that are ahead of the curve. In a world of ubiquity, finding a ‘thoughtful’ gift often means discovering items that they’ve never come across before.

The ability to personalise and refresh product ranges and introduce new products en masse can be a challenge for traditional retailers; less so when your suppliers are craftspeople, designers and makers who are able to respond in real time to trends.

The launch of a number of Christmas adverts this week will herald the start of the Christmas shopping season for many.

While price and choice will continue to be important in shoppers’ decision-making, I believe that the most valued gifts this Christmas will be something that says much more than the gift itself.

• Simon Belsham is chief executive of Notonthehighstreet.com