Posts Tagged consumers
Motorola Solutions annual holiday survey indicates Consumers know more than Retail Sales Associates
The latest installment of the Motorola Solutions annual holiday study indicates that the majority of surveyed retail associates believe that shoppers were better connected to consumer information than in-store associates, driven by increasing availability of online shopping tools and mobile phone applications that allow price comparisons, access to coupons and social-networking.
The survey found that retailers that aren’t investing in technology to stay ahead of increasingly tech-savvy shoppers are hurting their own bottom line. 28% of store visits ended with an average of $132 unspent due to abandoned purchases driven by deal-habituated behavior, out-of-stocks, limited store associate assistance and long check-out processes.
| Product Awareness “The shopper today is better connected to product information than store associates… “ (% of Retailers) | |
| Response | % of Retailer Responses |
| Completely agree | 17% |
| Somewhat agree | 38 |
| Neither agree nor disagree | 26 |
| Somewhat disagree | 15 |
| Completely disagree | 4 |
| Source: Motorola Solutions, January 2011 | |
Posted by eBrand Media Research Department in Customer Centric, Marketing on January 31st, 2011
Consumers Plan to Spend More, Save Less, and Pay Debts
According to the latest American Express Spending & Saving Tracker, more than half of adults are planning to spend more (14%) or the same (40%) in 2011 than they did last year, with the majority of that spending focused on themselves. Personal savings rates are still well above pre-recession levels and consumers will remain focused on saving, but they will set aside less than they did in 2010. After setting aggressive savings goals for 2010, $14,000 on average, consumers are paring back their savings target this year to a more modest $2,600.
Pamela Codispoti, senior vice present and general manager of Cardmember Services, American Express, says “… it’s encouraging to see that (consumers) feel more optimistic about their finances… they’re setting more realistic savings goals and… gained some financial breathing room to spend a bit more than in 2010.”
Posted by eBrand Media Research Department in Advertising, Customer Centric, Trend Tracker on January 18th, 2011
If you’re wondering where your buyers went – Americans’ credit scores at new lows
From the GoTo, “just get me more eyeballs” day’s, until the fall of 2007, the web was awash with home equity money and easy credit. Not to mention that every year new shoppers were jumping on to the web. Those were the days. Some companies, aware of the ephemeral nature of that boom, used that money to improve their businesses. Others were blinded by greed.
Lending standards are more stringent and that means fewer people with credit. Many have been pummeled by material excesses propelled by a desire to keep up with “the Jones”. The problem was that “the Jones used to be next door neighbors. Somewhere along the line “the Jones” became the rich and famous. Idealized people we could never keep up with.
We’re reminded of a line written by the English mystic, William Blake: “The greatest danger a man (or woman) faces as they walk the path through life, is the seduction of the material world”.
Here’s an article about how an increasing number of Americans are considered poor risk, the consequences they’ll face, and the price we’re all paying as a result.
Posted by eBrand Media Research Department in Customer Centric, Trend Tracker on July 13th, 2010
April showers didn’t bring May flowers but it’s not all bad news for marketing followers
The June Consumer Reports Trouble Tracker Index measuring financial difficulties faced by consumers in the past 30 days, worsened, rising to 63.5 from 53.0 in May. The most troubling increase is in missed mortgage payments, which reached 3.9%, its highest level since tracking began in April 2009. The latest numbers show consumers have taken a step back facing increases in financial difficulties and a soured employment picture, says the report.
Some of the key findings include:
In June, more consumers reported difficulty in affording medical bills or medications versus the prior month,and faced lost or reduced healthcare coverage
* The Employment Index has dropped, pointing to an increase in the ranks of the unemployed, at least temporarily. The decline was led by the proportion of Americans that lost their jobs in the past 30 days
* Despite the high job losses posted in June, 7.4% of Americans reported starting a job in the past 30 days, well above May, and achieved its highest level recorded since April 2009.
* Consumers have scaled back their interest in shopping as well. The past 30-Day Retail Index for June, reflective of May activity, is 10.8, unchanged from the prior month
* May’s next 30-Day Retail Index, reflective of planned purchases for June, is down slightly from the prior month. Per capita spending for the index categories in the past 30 days was $234, down slightly fromay ($248)
The Consumer Reports Index report comprises five key indices: Sentiment, Trouble Tracker, Stress, Retail and Employment. Here are the key findings:
Posted by eBrand Media Research Department in The Economy, Trend Tracker on June 29th, 2010
Online flower prices grow as you go
By Bob Sullivan
Companies often advertise one price to lure customers into their stores, then charge a higher price. In days gone by, this was called “bait and switch.” Now, it’s called fees and surcharges.
On the Internet, this tactic has another fancy name: “landing price.” Advertisements include a low price to persuade customers to land on their e-commerce site. But by the time shipping and handling is piled on, the “out-the-door” price is substantially higher.
This tactic is most clear in the world of online florists, and most prevalent during Valentine’s Day. A quick survey of the top online florists shows that consumers using the two top sites typically pay at least 50 percent — and often as much as 100 percent — higher than the advertised price.
Take ProFlowers.com, which this week was running nearly ubiquitous ads with offers like this: $29.99 for a dozen roses and a free vase. But any consumer wanting the arrangement delivered on Valentine’s Day will pay at least $55, after shipping, taxes, handling and a Saturday delivery fee are added. Shoppers who agree to early delivery on Feb. 12 will save $10, but will still pay around $45 (when $10 shipping, $1.99 handling and about $3 in taxes are added in). That’s still 50 percent above the advertised price.
Making matters worse for shoppers: The total price isn’t revealed until the last possible moment — after the recipient’s name and address, credit card number, billing address and even the “Love, Bob,” note are entered. This reporter counted seven screens before the real price was unmasked. After all that typing, consumers are less likely to abandon the transaction.
ProFlowers says all its advertisements indicate customers will face additional fees
“ProFlowers advertising…clearly states that shipping and handling are additional costs,” spokesman Mike Rosen said in an e-mail. He said the company has not received any complaints that its advertisements are deceptive.
Rosen also pointed out that consumers can add the total cost on their own within the first click or two. But to do that, consumers must notice and click on a link named “details” while picking the delivery date.
“I don’t think you give consumers enough credit,” Rosen countered. “In this day and age customers understand this process better … and expect to pay shipping charges.”
Posted by Tom Polanski in Customer Centric on February 12th, 2009