shoppers

Mobile In-Store Research Frequency Seen Increasing Alongside Price Point

source: http://www.marketingcharts.com/wp/topics/e-commerce/mobile-in-store-research-frequency-seen-increasing-alongside-price-point-36700/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

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Similarly, while 36% regularly conduct in-store searches when looking at products priced at less than $50, 62% do so for products priced at $250 and up.

Besides price point, the study also finds that the frequency of in-store searches ranges significantly by product category. Respondents most commonly conduct in-store mobile searches for electronics and appliances (83% doing so almost always or frequently) and books and music (67%), with fewer do so for automotive (52%) and food and beverage (50%) products.

There are some intriguing results in the study’s section regarding the discount rates at which M-shoppers would consider buying online (these responses limited to US respondents). Almost 6 in 10 respondents would consider buying online if they could get a 10% discount on a $500 item. But a 10% discount on a $200 item would only persuade 50% to consider buying online, while swaying only 28% of those shopping for a $50 item. These results align with previous research from parago, which found that for an equal discount rate, consumers would be about 20% more likely to switch to an alternative online option (in this case Amazon) that provides larger dollar savings. The results from that study suggested that the focus on dollar savings over discounts could be attributable to a calculus regarding shipping costs.

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Tuesday, September 17th, 2013 news No Comments

Americans Are Rekindling Their Dangerous Love For Credit

Source: http://www.businessinsider.com/americans-are-rekindling-their-dangerous-love-for-credit-2013-9

credit card spendingFueled by a burgeoning economy, shoppers have slowly but surely rekindled their love affair with plastic. A new MasterCard analysis shows that in 2012, U.S. credit card volume grew by $172 billion year-over-year, an increase of 8.4%.

We’ve pretty much done a complete 180 since the onset of the recession. Back in 2008, Americans shifted more than $140 billion from credit to debt card spending.

You could say consumers are simply feeling more secure about their ability to handle credit card bills these days. But looking closer at the study, we found two dangerous signs that we could be getting in over our heads again.

More than half of credit users say they continuously carry a balance on their accounts and 54% of consumers say they use credit for rewards, up a full 9 points from 2008.

Credit lenders are incentivizing overspending and consumers are clearly taking the bait.

Already, we can see the effect rewards are having on credit use. The average credit card transaction is only $93, signaling that consumers are leaning on credit even for everyday purchases in order to get rewards.

Warning Signs

Credit perks are all well and good if you’re planning on paying your card down each month. But what’s the point in cashing in credit rewards if you’re dragging your credit score down and running the risk of paying late payment fees in the process?

There’s real danger in relying on credit cards just for a fe! w extra cashback points. First of all, carrying balance on your credit card is one of the easiest ways to lower your credit score. You’re basically telling lenders that you’re willing to rack up charges without having the means to pay them off in quick fashion.

“The amount of debt a consumer carries tends to be highly predictive of future credit performance because the amount a person owes has a direct impact on her or his ability to pay all their credit obligations on time each month,” says Barry Paperno, consumer operations manager for myFICO.com. “While having debt doesn’t automatically put someone in a high-risk category, as balances increase, the probability of having difficulty making payments on time each month increases.”

In an ideal world, everyone would pay down their credit card balance in full each month. Realistically speaking, most experts recommend keeping your total debt load at one-third of your available credit limit.

We’d recommend going even further. A recent FICO report found that people with the highest credit scores typically carried debt loads less than 7% of their total limits.

A good rule of thumb: If you’re about to use a credit card, just ask yourself if you’d be making that purchase if you were using cash instead. If the answer is no, chances are you’re better off keeping that card parked in your wallet.

 

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Monday, September 16th, 2013 news No Comments

Older Generations More Loyal to Brands in the Grocery Store

source: http://www.marketingcharts.com/wp/topics/branding/older-generations-more-loyal-to-brands-in-the-grocery-store-36618/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

Acosta-Increasing-Store-Brand-Purchases-by-Generation-Sept2013Generational differences abound in grocery shopping behavior, reveals Acosta Sales & Marketing [download page] in a new report. The study indicates that younger shoppers tend to be less loyal to brands: 42% of Millennials (born between 1982 and the early 2000s) say they’re buying more store brands to save money, a figure that drops to 36% among Boomers (born between 1946 and 1964) and just 26% of Silents (born between 1925 and 1945).

Although they make the most number of routine shopping shopping trips per month (4.1 on average), Millennials have the smallest average monthly grocery spend.

At $252.60 per month, Millennials trail Silents ($263.70) and Baby Boomers ($295.50) in average monthly grocery spend, with Gen Xers (born between 1965 and 1981) spending easily the most ($323.10).

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Thursday, September 12th, 2013 news No Comments

Millennials Still Spend the Vast Majority of Their Retail Dollars In-Store

source: http://www.marketingcharts.com/wp/topics/e-commerce/millennials-still-spend-the-vast-majority-of-their-retail-dollars-in-store-36364/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

NPDGroup-Millennials-Retail-Spending-Behavior-Sept201381% of Millennials’ retail spending occurs in brick-and-mortar stores, reveals The NPD Group in a new study covering shopping activity from May 2012 to April 2013. In fact, slightly more than half of Millennials (13-33) shop in-store during a typical week, and the group accounts for more than one-third of all US shopping visits. Interestingly, though, Millennials are less likely to make a purchase while they’re in-store than older generations, and they spend more per visit online than in a brick-and-mortar store.

Millennials have a 57% in-store conversion rate (percentage of shoppers who make a purchase), according to the study, significantly behind the corresponding rates for Gen Xers (34-48; 66%), Boomers (49-67; 69%) and Seniors (68+; 72%). That could be related to an increased propensity for showrooming among the younger group, even if recent research has shown webrooming to be more prevalent than showrooming among Millennials.

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Tuesday, September 3rd, 2013 news No Comments

Popular Shopping Activities Differ Significantly by Mobile Device

source: http://www.marketingcharts.com/wp/interactive/popular-shopping-activities-differ-significantly-by-mobile-device-35882/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

Nielsen-Smartphone-Shopping-Activities-inQ1-Aug2013Recent data from comScore illustrated the types of items that are most commonly purchased by smartphone and tablet owners. New research from Nielsen gets in on the act, revealing the most common activities performed by mobile shoppers. While there are some predictable findings (such as smartphone owners more likely to perform on-the-go activities), it’s useful to see the various ways in which these devices are being leveraged during the shopping journey.

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Thursday, August 15th, 2013 news No Comments

Online Buyers Notice Retargeted Ads – eMarketer

source: http://www.emarketer.com/Article/Online-Buyers-Notice-Retargeted-Ads/1010122

Majority notice retargeted ads for products they previously looked up

Online retailers are putting more dollars to retargeted ads to remind shoppers of the item they once seemed interested in buying. And there is evidence that consumers do notice these ads. Nearly three out of five US online buyers surveyed in April 2013 by programmatic buying technology company Adroit Digital and research company Toluna said they had noticed ads for products they looked up on other sites.

However, even if consumers notice such ads, this does not directly correlate with purchase intent. Moreover, retargeted ads could just as easily raise eyebrows among consumers who do not appreciate reminders that their digital behavior is being tracked.

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Tuesday, August 13th, 2013 news No Comments

Source: http://www.businessinsider.com/social-commerce-and-retailer-benefits-2013-8

BII ecommerce conversions size

Overall usage on social media platforms is exploding. Millions and millions of consumers are expressing likes on Facebook, tweeting about products on Twitter, and pinning on Pinterest every single day.

Retailers and brands are increasingly focusing their attention on social commerce.

But many struggle with the question: how do you convert a “like,” a “tweet,” or “pin” into a sale? Is social media really going to be a source of dollars and foot traffic?

In a recent report from BI Intelligence, we look at successful examples of businesses and business models for generating commerce via social media-based strategies, analyze Pinterest’s success as a social commerce platform, look at Facebook’s potential as a social commerce contender, and we examine the numbers behind the social commerce conversion and order value gap. The report is supplemented by rich datasets on social commerce, and subscribers will also receive full access to BI Intelligence’s full library of hundreds of in-depth reports, charts and datasets — including up to date coverage on social commerce.

Access The Full Report And Data By Signing Up For A Free Trial Today >>

Here’s an overview of the converging trends that promise to transform social media into a viable commerce platform:

BII social mobile purchases

BII specialty retail social platforms

BII_PinterestInStoresCOTD_7_11_13

BII AOV comparisons

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Friday, August 2nd, 2013 charts No Comments

drag2share: Tablets Continue Their Rise As Shopping Devices, Far Outpacing Smartphones In Conversion Rates

source: http://feedproxy.google.com/~r/businessinsider/~3/R077sO1y6uI/tablets-tripled-smartphone-conversion-rates-2013-7

Tablet users visiting e-commerce sites are three times more likely to make a purchase than those accessing the sites on their smartphones.

Tablet-based conversion rates for the holiday season in 2012 reached 2.2%, according to new data from Adobe’s State Of Mobile Benchmark Digital Index.

Smartphone conversion rates over the same period were significantly lower, reaching only about 0.7%.

Adobe tracked activity on over 500 U.S.-based retail websites during December 2012, and calculated conversion rates as total orders divided by total website visits.

The relatively low smartphone conversions were in effect during the the 2011 holiday season as well, when they were also .7%, according to a separate Adobe study.

It may be that in lieu of making an actual purchase, consumers more often prefer to use a smartphone for its on-the-go practicality in comparing prices or pinpointing store locations while shopping.

It’s further evidence that retailers have to approach mobile on a device-specific basis, meaning they should optimize their mobile sites and apps specifically for tablets and smartphones.

Tablets also offer would-be shoppers more screen real estate for browsing, and many consumers have basically begun to use them as lean-back PCs. However, desktop PCs still command the highest conversion rates.

Comparing 2011 to 2012, we see tablet conversion rates actually fell slightly, from 2.5% to 2.2%.

bii_ConversionRates_2013


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Wednesday, July 31st, 2013 news No Comments

In Which Categories Are Lowest Prices Most Important to Women?

source: http://www.marketingcharts.com/wp/topics/automotive/in-which-categories-are-lowest-prices-most-important-to-women-34992/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

Ipsos-Womens-Price-Focus-by-Category-July2013There are many factors aside from price that women take into account when choosing a brand, according to results from the 5th wave of Ipsos MediaCT’s “Women, Power & Money” study, co-developed with FleishmanHillard and Hearst Magazines. Yet pricing is obviously important to shoppers, and while 91% of women agree that good value for the money is more important than price, there are a number of categories in which a majority feel that it is extremely or very important to get the lowest prices.

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Monday, July 22nd, 2013 news No Comments

When It Comes to Marketing, Digital Mom Shoppers Have Boundaries – eMarketer

source: http://www.emarketer.com/Article/Comes-Marketing-Digital-Mom-Shoppers-Have-Boundaries/1010060

Moms’ digital savvy comes with caveats

Mobile devices and social networks are important fixtures of the shopping process for today’s mom. But marketers must be careful not to intrude unduly on their time, according to a new eMarketer report, “Mom Shoppers: Using Digital to Keep Their Heads Above Water.” Moms want to be the ones who initiate commerce-related activities in today’s digital environments.

It’s no mystery why marketers aim at moms: There are lots of them, and they spend lots of money. eMarketer estimates the population of US moms with kids under age 18 in the household was 35.7 million last year. BSM Media, which specializes in marketing to moms, pegged US mom buying power at an annual $2.25 trillion as of June 2013.

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Friday, July 19th, 2013 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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