Retail Marketing
December
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Go Ahead And Hang Your Stockings With Care, Just Don’t Expect As Much As Last Christmas
2011 at 05:53 pm Posted by Sherri Sharp
Consumers will continue to be frugal this holiday season according to a new survey by YouGov. Still, there are a few "must have" brands out there. The average adult expects to complete 46% of his or her holiday shopping online this year, however expected spending for the holidays drops from $521 in 2010 to $451 in 2011.
Top mentioned "Must Have" brands: 1. iPad 2. Kindle 3. iPod 4. Xbox 5. iPhone
Top mentioned "Must Have" categories: 1. Clothing 2. Gift cards 3. Toys 4. Books (Really? Like old fashioned books with pages you can spill coffee stains on?) 5. Money
Everyone have a very Merry Christmas and best wishes for the New Year!
(Photo credit of the Herald Sun)
Posted in: Retail Marketing
November
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Let the Madness Begin: Consumers to Spend $500 billion on Black Friday
2010 at 12:14 pm Posted by Sherri Sharp
Y&R consumer guru John Gerzema says spending should be quite healthy this holiday season. He expects "less mindless spending" on gadgets and more "mindful" spending on higher quality, luxury goods. It's quality over quantity this year, Gerzema predicts. Here's a few of his predictions.
- Brands like ETSY, offering alternatives in 'handmade Christmas' gifts including digital and artisinal choices, will be hot this season, as 65% of Americans are more interested in learning new skills since the recession, so they can do more themselves and rely less on others (Haven't you always wanted a Purple Rain Elf Coat as pictured?)
Look for Zappos.com to win the online shoe retailing war with its celebrated customer service, while brands like Foot Locker decline (down 20% in usage). Even though Black Friday shoppers are deal-oriented, 72% of American shoppers are now willing to pay more for products/services offered by companies with solid customer service reputations
Premium brands expect a surge, i.e., Burberry up 15% in brand strength; Theory up 59% in usage and Whole Foods up 10% in usage
Mass market mainstays may find decline, i.e., Old Navy (down 15% in usage); Safeway (down 23% in usage), and Nestle (down 17% in usage)
Expect Walmart to exceed expectations this Black Friday. Why? In part because 65% of American shoppers are now willing to pay a premium for companies that contribute to their local community -- the success of Wal-Mart's locally grown food initiative and independent brands is proof.
Posted in: Retail Marketing
May
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Marketing Rationale For Why I Loathe Purse Parties
2009 at 11:18 am Posted by Sherri Sharp
One of my girlfriends is headed to NYC in a couple of weeks and is thrilled about the prospect of finding this season's new fake Prada bag. I pretended to be excited for her sake. Today I read an article, "Why Do Consumers Buy Counterfeit Luxury Brands?" by Keith Wilcox, Hyeong Min Kim and Sankar Sen, which actually makes me feel better as a consumer because I wonder why women go nuts to buy these worthless copies. The article sites a recent study that explains this behavior.
Researchers did one experiment focused on buyer attitudes that serve two distinct "social functions" - the "social-adjustive" (this will help me fit in) and the "value-expressive"(this will help me stand out). The researchers showed two different images of a "fake" Louis Vuitton handbag to two randomly chosen groups of women. One group saw the bag with a conspicuous logo, and the other saw the bag without it. The women then answered a questionnaire that classified their attitudes and their willingness to buy the fake.
Results showed that those subjects classified as "social-adjustive" were the most likely to buy the fake bag, especially when it had a conspicuous logo. The appeal of seeming to fit in with an elite group was strong enough to make these shoppers risk buying the flashy fake. The researchers' doled out this advice to luxury goods manufacturers: tout the in-crowd status of owning the real luxury item and depict the shame of being discovered with a knockoff.
I just wonder if my girlfriend would have participated in the study if she'd still be up all night googling street corners in NYC.
Posted in: Retail Marketing
