Consumer Trends
Higher Costs of Living Spur Private Label Purchases
Private label has been a serious contender for shelf space for several years. But when consumers are bombarded by smaller packages that have higher prices...
How Does Context Affect Consumer Purchase Decisions?
The “why” behind a visit to the store can make all the difference in the world when it comes to consumer purchasing decisions. If you’re at the store with a back-to-school list in hand you’ll certainly make different purchase decisions than when you’re just stopping in to pick up laundry detergent.
Target's PFresh Success
Target is receiving kudos for its ability to successfully merge high-quality private label brands, competitive pricing, boutique and designer at-the-right-price offerings with — groceries. While many big-box retailers are stocking groceries in an effort to increase traffic, the PFresh Target format — which will be implemented in 1,100 stores by December 2012 — is receiving particular praise.
BRIC Consumer Spending Is Catching Up to U.S. Spending
Economists at IHS Global Insight reports that while the American share of gross domestic product generated by their spending is falling (along with that in Western Europe), spending in poorer nations such as Brazil, Russia, India and China (BRIC) is rising.
March Sales Figures Better Than Expected
Here's a piece of good news. In March, retail sales gained .8 percent — industry insiders predicted a .3 gain. Overall, from January through March, sales gained 2.5 percent and this despite rising gas and grocery prices.
Are Multi-Channel Customers More Profitable?
Walgreens says they are. According to Ron Kelly, Walgreens' VP of Customer and Pharmacy Service, E-commerce, consumers who visit their site, use mobile technologies and shop in their stores are three times more profitable than a consumer who only uses one channel.
Easter Spending Expected to Rise
According to the NRF's Easter spending survey, Americans will spendan average of $145.28 on Easter goodies — clothing, candy, decorations, food. That's an 11% jump from last year's average of $131.04.
Are You Afraid of Millenials?
According to a recent article in Forbes magazine, retailers are "running scared" of the Millenials (ages 18-24). Why? Because they have far less to spend and what they do have is being spent on education — which leads to an average debt burden of $45,000. Now, notes Henderson, factor in Millenial unemployment rates (just above 50%) and what you see is a prolonged delay in spending for this sector
Experts Feel US Spending Can Boost the Global Economy
In the last week, global economic reports have been less than stellar. China, Brazil and even Germany have reported a variety of economic figures that point to lackluster expectations. According to a recent article, experts seem to feel that the "pastime" (shopping) of the world's largest economy (the U.S.) may be a key to spurring the global economy.
Strong February Sales Helped in Part by Mild Weather
Mother Nature's mild winter seems to have spurred consumer spending across a variety of American retailers. Target, Macy's and Gap all reported higher than expected February sales figures. Reporting retailers noted a 6.7% increase over spending at this time last year — the biggest gain since June 2011.
