Discounts ARE Still Important to Many Shoppers

Posted on April 6, 2014 by bermanevansretail
Last month, we reported that one recent research study found that “consumers may finally be moving from their interest in price as the driving force in their shopping behavior to a greater emphasis on quality.”
But, many shoppers are still quite price sensitive. And this continues to drive their shopping behavior for items such as consumer packaged goods.
As Serena Ng reports for the Wall Street Journal:
“The problem for makers of household basics is that consumers are devoting a shrinking share of their wallets to packaged goods as other costs of living rise more sharply, such as health care and education.”
“Discounts are in the standard tool kit for consumer-products makers; and the current level of activity is particularly high. All told, some 33.7% of consumer packaged goods — from soda and razors to shampoo, shaving cream, and paper towels — were sold on promotion in the 12 months through February 2014, according to data from Nielsen. That’s the highest level since the U.S. recession ended in mid-2009. The numbers exclude alcohol, tobacco, fruits and vegetables.”
Click the image to read more.

 

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing | Tagged , , , , , , , , , , | 1 Comment

Nielsen Research on the “New Retail” in Australia

Posted on April 4, 2014 by bermanevansretail
Australian shoppers are highly connected and do a lot of online shopping. And recent research from Nielsen sheds more light on the Australian consumer:
“Online research converts into both online and offline purchases. Results from the newly released 2014 Nielsen Connected Consumers Report show that online (research)-to-online (purchase) has the best conversion for (printed) books, clothing and digital music; while online-to-offline best converts grocery, liquor, restaurant, clothing, and pharmacy item purchase.”
“Mobile connected devices such as smartphones and tablets are aiding this ‘new retail’ movement, broadening the reach of brands and retailers by facilitating anywhere, anytime shopping, and blurring the lines between what constitutes online versus offline shopping. More than one in 10 online Australian shoppers use their smartphone to make a purchase and the same proportion purchase via tablet (13%).”
Click the chart to read more about Nielsen’s Australian shopper study.

 

 

Posted in Global Retailing, Online Retailing, Part 1: Overview/Planning, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , , | 1 Comment

Today’s Path to Purchase Is Faster Than Ever

Posted on April 2, 2014 by bermanevansretail
As the consumer purchase process speeds up, retailers need to act accordingly.
According to Parago, an expert in consumer incentives and engagement: “With consumers embracing the omnichannel, the path to purchase is accelerating. Today’s retailers need faster ways to compete for customers who are making decisions in shorter time frames. The key to closing more sales as deal-seeking speeds up? Limited-time dynamic discounts that create a sense of urgency.”
Click the image to an informative report from Parago.

 

 

Posted in Part 1: Overview/Planning, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , | Leave a comment