HOUSTON
– Consumer preferences are paramount for suppliers when it comes to maximizing
sales and tailoring marketing campaigns for various audiences. A new retail
store in the College of Business at the University of Houston-Downtown (UHD)
promises detailed feedback and culturally driven opinions for manufacturers –
straight from consumers’ mouths.
In
one of the first retail operations of its kind on a college campus, UHD recently
opened its “Check It Out” store on a main thoroughfare within the College of
Business. All UHD students, faculty and staff are eligible for a free account
loaded with 1,000 cyber-points (equaling 1,000 pennies), which serve as
currency in the store. Cardholders can apply their points toward the purchase
of items including food, cleaning supplies, toiletries, energy drinks and other
products.
In
exchange for a product, participants must complete a brief online questionnaire
about the item, its price point and other consumer preferences. Once the
cardholder completes the online assessment, the “cost” of the product — or its
corresponding point value – is automatically credited to the card so that
students can purchase additional products.
“UHD’s
Check It Out store is a premier platform for suppliers to get their products
directly into the hands of consumers,” said Tracy Davis, director of the Center
for Retail Management at UHD, in a press release. “Because UHD’s student body
is one of the most diverse in the nation, suppliers can gather key feedback and
tailor their products and marketing campaigns based on consumers’ cultural
preferences.”
The
store, essentially a retail and marketing lab, is run entirely by students.
Supply chain management majors receive donated products in the University’s
simulated warehouse lab, slot items, fill orders and deliver the products to
the store. Retail management students, who manage the day-to-day operations of
the store, stock and price the merchandise before placing it on display
shelves. Once cardholders “purchase” the product and complete the online
questionnaire, marketing majors gather data from these student surveys, conduct
additional research on the products and produce detailed reports to submit to
participating suppliers.
In
addition to conducting the real-world operations of the enterprise, students
benefit from the latest, high-tech software and equipment currently used by
leading retailers. Cash Register Services recently donated $40,000 worth of
checkout equipment, Loyalty Lane provided a customer loyalty program, Total
Printing Solutions designed and printed signage and graphics, Grocers’ Supply
provided product and equipment and Wal-Mart provided funding and products to
the University store.
“UHD’s
Check It Out store is an excellent teaching tool and a clear win-win for both
students and participating suppliers,” said Davis. “As the store will
officially open in August at the beginning of the 2013-2014 academic year, we
are actively seeking manufacturing partners to participate in our store. This
is an excellent opportunity for major manufacturers to provide their products
to college students, with a guaranteed, detailed report of these consumers’
preferences.”