Social Media tops Retail Customer Experience’s Top 100 for 2011, a report they expect to produce annually. Also in the top listings: multi-channel integration, Apple Stores, online reputation management, digital products and 95 more. This is an interesting report for consumers and an even more interesting report for retailers.
Retail Trends
Archived Posts from this Category
February 28, 2011
February 23, 2011
What major retailer just finished 7 straight quarters of falling sales? Yup, Walmart
Posted by Mark under retail, Retail TrendsLeave a Comment
The company has been buoyed by international sales, but same store domestic sales have dropped for nearly two years, according to Financial Times.
February 23, 2011
Prices: what’s going up, what’s going down
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Predictions from the floor of the National Retail Federation trade show.
November 8, 2010
Retailers may find a bit of holiday cheer this quarter
Posted by Mark under Consumer research, Economy, retail, Retail TrendsLeave a Comment
Economy Still Impacting Shoppers, but Glimmers of Hope Appear in First NRF Holiday Survey
-Shoppers to Spend on More Discretionary Items, Non-Gift Purchases-
Washington, October 19, 2010 – Though Americans are still operating with the recession in the back of their minds and many have fundamentally changed their shopping habits, some findings from NRF’s first holiday survey imply consumers won’t only be focusing on low prices and basic necessities this year. According to NRF’s 2010 Holiday Consumer Intentions and Actions Survey, conducted by BIGresearch, U.S. consumers plan to spend an average of $688.87 on holiday-related shopping, a slight rise from last year’s $681.83*.
As in years past, most holiday gift-givers will spend the largest portion of their budget buying gifts for family ($393.55) and friends ($71.45), though they’ll still carve out room in their budget for small tokens of appreciation for both co-workers ($18.26) and others ($34.82). Total spending on gifts ($518.08) is expected to rise 2.1 percent from last year, which is in line with NRF’s 2010 holiday forecast. Americans will also spend an average of $41.51 on decorations, $26.10 on greeting cards and postage, $86.32 on candy and food, and $16.86 on flowers.
“Consumers will still shop with the economy in the back of their minds, but we’re starting to see shoppers take baby steps toward a new normal,” said NRF President and CEO Matthew Shay. “As Americans open up their wallets for more discretionary gifts like jewelry or take advantage of sales to buy for themselves, retailers will begin to truly believe that the worst may be behind them.”
According to the survey, 61.7 percent of shoppers say the economy will impact their spending, down from last year’s 65.3 percent. Many shoppers say they will compensate by spending less (81.5%), comparison shopping online (30.9%) or with newspapers and circulars (28.1%), shopping for sales (54.1%) or using more coupons (40.6%). Although the economy continues to impact shoppers, a number of survey results indicate that shoppers may be ready to emerge from their shells this holiday season.
When asked which one factor will be most important when shopping this holiday season, the majority (more…)
October 20, 2010
NRF predicts holiday sales will increase over prior
Posted by Mark under advertising, Business, Consumer research, Economy, retail, Retail TrendsLeave a Comment
Hopefully the days when “flat is the new up” are over. The National Retail Federation’s holiday sales spending projections anticipate a retail sales spending increase of 2.3% over last year.
That is pretty moderate growth by historic numbers, but it is wildly better than what many have seen over the past few years.
The NRF says that price considerations will still be of high importance and that special promotions and marketing will help make the difference.
October 20, 2010
Retailers – If you read only one item to prepare for the holiday selling season make it this one
Posted by Mark under Consumer research, Demographics, Economy, retail, Retail Trends, UncategorizedLeave a Comment
Top 10 Holiday Trends for 2010 from the National Retail Federation packs great information into a compact article.
The article, based on new consumer research as well as insights from retailers provides timely insight into the mind of the consumer, what you can expect this holiday season, and how you can improve your return on sales effort by incorporating traditional, simple and logical activities.
September 14, 2010
Its beginning to look a little like Christmas
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Sure, it is way to early to even think much about Halloween, but holiday sales messages for Christmas are already in the air. Target promoted a “Black Friday in July” sale and many retailers are pushing Christmas promotions earlier this year, according to this item in MediaPost.com
August 11, 2010
What sales are hot in August? For some it is a great month
Posted by Mark under advertising, Advertising Tips, Business, Business management, Consumer research, retail, Retail TrendsLeave a Comment
“Shoot when the ducks are flying” is an old expression in the advertising business that means advertise when your customers are buying. The best time to sell snow shovels is when it’s snowing.
So, what businesses does August and September favor with higher than average sales (all stats from Monthly retail and food service sales, 2007 sales, census) :
• Auto dealers – August, biggest month of the year at 9.3% of annual sales
• Automotive parts, accessories and tire stores – August, higher than average
• Book Stores – August and September, higher than average
• Beer & Wine – August, higher than average
• Clothing Stores – August, higher than average
• Department stores, discount – August, higher than average
• Furniture stores – August, higher than average
• Gasoline stations – August, higher than average
• Home furnishings stores – August is 2nd biggest month of the year
• Restaurants – August is 2nd biggest month of the year
• Shoe stores – August is 2nd biggest month of the year
• Sporting goods stores – August is 2nd biggest month of the year
August 10, 2010
Does $880 in back-to-school spending interest you?
Posted by Mark under Business, Economy, retail, Retail TrendsLeave a Comment
The average mom of two or three students will spend $880, or more this year on back-to-school supplies and clothes, according to MediaPost. Though mom’s are focusing on essentials and their budget that still adds up pretty quickly.
Here is the press release from the Marketing to Moms Coalition:
MOMS SPENDING LESS ON BACK TO SCHOOL SHOPPING,
BUT SPENDING MORE TIME HELPING IN CLASS THIS YEAR
Marketing to Mom Coalition Study Reveals Back to School Trends
CHICAGO – July 7, 2010, Moms plan to cut back on their school shopping this Fall, especially when it comes to clothing for kids, according to a new survey of 1,275 moms nationwide by the Marketing to Moms Coalition . Funded by Current Lifestyle Marketing and Weber Shandwick, the survey was conducted in June 2010 and reveals trends among moms of children age 7-17, including both English and Spanish-speaking Hispanic moms.
This year, spending is expected to decrease 10 percent for kids 7-12 and 12 percent for teenagers 13-17 compared to last year. Moms of 7-12 year olds report average spending of $440 for 2010, compared to $487 in 2009. Moms of teenagers 13-17 will spend $479 compared to $548 last year.
Across age brackets, spending on school supplies, electronics like calculators, and school activities will likely remain flat this year, with the biggest cutback coming in clothing. Among moms of 7-12 year olds, half (50%) say they will spend less than $100 on clothing– a 10 percent increase from 2009.
As spending levels decrease, school volunteering is increasing. More than 90 percent of moms with kids aged 7-17 say they will have the same or greater involvement in their child’s school this year.
“Our research shows that families are still cautious about buying and are sticking to essentials for their kids,” said Maria Bailey, CEO of BSM Media and founding member of the Marketing to Moms Coalition. “But they want to be involved and help as much as they can. As school systems face cutbacks, moms are stepping up by giving their time to help their children’s education.”
As has been the trend in recent years, moms plan to do most of their shopping in retail stores versus online. Online shopping for back to school has been trending down among moms for the past four years, according to Marketing to Moms Coalition reports.
So when the school bell rings – are moms happy or sad that summer is over? Happy! More than 80 percent say they will be happy when their kids go back to school this year.
For more information on the 2010 Back to School Report or the Marketing to Moms Coalition, go to marketingtomomscoalition.org.
About the Marketing to Moms Coalition
The Marketing to Moms Coalition is the only industry group dedicated to furthering an understanding of America’s most powerful consumers. A not-for-profit organization, the group’s goal is to share knowledge and insights about moms to help marketers create programs that engage and empower this driving force of the American economy. More information about the coalition can be found at www.marketingtomomscoalition.org. The founders of the coalition are Maria Bailey, CEO of BSM Media; Bridget Brennan, CEO of Female Factor; Michal Clements, Managing Partner, Insight to Action; Amy Colton, Executive Vice President, Current Lifestyle Marketing; and Teri Lucie Thompson, Chief Marketing Officer, Purdue University.
About the Survey
The survey was comprised of a nationally representative sample of American Moms contacted in June 2010, via an online invitation. The sample was balanced on region, household size, population density, income and ethnicity. An ending sample of 1, 275 moms with children under 18 living at home completed the online questionnaire. The research firm Insight to Action analyzed results.
July 28, 2010
Back to school purchasing looks positive
Posted by Mark under Business, retail, Retail TrendsLeave a Comment
Retail Customer Experience is reporting that more people expect to spend more on back-to-school items than are planning to spend less.
If your business plans to capture a larger share 58% of respondents say they are looking for items that are on sale or meet specific needs. The good news in that number for retailers is that it has dropped from 90% last year.
I’ve previously mentioned that some merchants are already going after those dollars so sales missed today are just missed. Given all the surveys that have shown the importance of strong coupon offers in generating consumer purchase behavior you may wish to consider using them in the coming weeks.
