Archive

Posts Tagged ‘biginsight’

First Look: January 2013

January 15, 2013 Leave a comment

Snapshot Summary January 2013Eager to know where consumers stand as we begin the New Year?

We’ve got the latest details on consumer confidence, employment, purchase plans, financial goals as well as what’s hot (or not) in our January 2013 Snapshot Summary. Here are some of the highlights:

- Did the fiscal cliff free fall we nearly experienced lead to more fragile sentiment for the New Year? For January, just over a third (35.3%) is very confident/confident in chances for a strong economy, down two points from last month.

- Though the U.S. unemployment rate remained stagnant at 7.8% for December, consumers maintain slightly higher hopes for the job market compared to thirty days ago. Look for unemployment to remain a hot topic in 2013, though: year-over-year; consumers look less optimistic about the pink slip situation.

- Perhaps some of those holiday gift cards are leading consumers to less practical pastures…this month, while nearly half are poised for pragmatic spending, this figure has declined three points from 30 days ago.

- New Year’s Resolution #1: Fix the Finances…in January, more than a third affirm that they plan to pay down debt and/or decrease overall spending over the next three months, rising from December as well as Jan-12 and Jan-11.

- With the annual average price of gas the highest on record in 2012, it should come as no surprise that drivers haven’t relegated this issue to the back seat…two-thirds are still affected by the pain at the pump. Drivers’ pump price prediction for the end of January is $3.52/gal, just under what was expected at the close of 2012.

- In this month’s retail roundup: In Women’s Clothing, Kohl’s bests Walmart for January, while the big discounter seems to be thisclose to losing the top spot in Shoes as well…stay tuned. Amazon proves it’s the biggest-freight-train-that-could in Electronics, nearly doubling customer share Y-O-Y. And, in an interesting development in Health & Beauty: it appears that 2013 could be a battle between Target and Walgreens…

- Evidence of a holiday hangover? With the gift-giving season in the rearview, consumers take a downward approach to spending compared to December.

- It’s blue skies ahead for vacationers in this month’s BIG Ticket, as 6 month purchase intentions for vacation travel have increased M-O-M and Y-O-Y.

- Not only is Amazon’s the world’s largest online retailer, but it’s the hottest as well…nearly four out of five consumers voted Amazon what’s hot in January. Plus: “Made in America” products, exercise/going to the gym, Super Bowl XLVII, and Walmart.

Our monthly Consumer Snapshot video analysis of the State of the Consumer for 2013 will be released tomorrow, January 16. This special edition includes quick insights on the five things you need to know about consumers in the New Year. To sign up to be a BIGinsight™ VIP and receive our Consumer Snapshot email notification, please click here.

And, to view the Snapshot Summary in its entirely: January 2013.

Source: BIGinsight.com

© 2013, Prosper®

BIGinsight™ is a trademark of Prosper Business Development

The IT List: Hottest Trends for 2012

Amid reports of a ho-hum holiday season, you really have to wonder about current consumer mindset. After a strong turnout Black Friday weekend, Hurricane Sandy hit, we witnessed tragedy in Sandy Hook, while those on Capitol Hill literally left us hanging on the fiscal cliff. Retailers continued to give consumers what they really wanted – deals, deals, and more deals – but ultimately it appears that practicality and a focus on needs were at the forefront of consumers’ thoughts as we approached December 25. To top everything off, NBC revealed record ratings for its Christmas Eve showing of It’s a Wonderful Life…coincidence? Perhaps not.
 
We at BIGinsight tallied up all of the votes in the lively “Hot or Not?” segment for the whole of 2012 to see which of the 145 trends, personalities, and events really got consumers (Adults 18+) buzzing last year. And while items like holiday shopping online and the New Apple iPad landed high in the rankings, the top 10 list points to consumers focused more on what really matters:
 
#10 NFL (Sep-12)*
 

Football: America’s new favorite pastime? With its top ten ranking, the NFL is certainly giving Major League Baseball (Apr-12, #46) a run for its money. The Giants-Patriots match-up for Super Bowl XLVI (Jan-12, #19) finished within the top 20 this year; however, it was the Packers-Steelers bout in Super Bowl XLV that took top honors in this list back in 2011.

#9 New Apple iPad (Mar-12)

At #9, Apple’s third iteration of its popular iPad was the top tech gadget we polled in 2012, while the more recent releases of the Apple iPad Mini (Nov-12, #25) and Kindle Fire HD (Oct-12, #27) – which sparked the great tablet debate – ranked lower in our list overall.

#8 London Summer Olympic Games (Jul-12)

Fresh off of 2011’s royal wedding, the British invasion of sorts continued for Americans in 2012 with the London Olympic Games. Ranking higher than any other athletes on our lists, swimming superstars Michael Phelps (Aug-12, #21) and Ryan Lochte (Aug-12, #36) proved that they were certainly the pride of the yanks.

#7 Farmers’ Markets (Jul-12)

Perhaps it’s because they offer fresh fare or maybe it’s their “shop small” charm, but at #7, Farmers’ Markets were hit among consumers getting back to the basics this year, though Community Gardens (Aug-12, #81) and Gluten-free Diets (Jul-12, #106) didn’t rank quite so highly.

#6 2012 Presidential Election (Sep-12)

While those of us residing in the swing states couldn’t wait for the endless barrage of phone calls, mailers, and commercials to end, this year’s Presidential Election was certainly very important to all who exercised their right to vote.

#5 Coupons (Jun-12)

Indicative of a consumer group prioritizing budgeting, practicality, and – most importantly – saving money, Coupons scored a top five position in this year’s list. Note to retailers and manufacturers: keep ‘em coming in 2013.

#4 Voting (Nov-12)

You lose your right to complain when you don’t exercise your right to vote…right? Whether their candidate won or lost the election, Americans set precedence on voicing their opinions this year.

#3 “Made in America” Products (Jan-12)

While they may be few and far between, at #3 on our list, “Made in America” Products seem to be what consumers prefer. Or perhaps it’s logical reasoning for boosting our sagging unemployment rate

#2 Holiday Shopping Online (Dec-12)

Arguably one of the few bright spots for retailers over the past holiday season (gift cards were pretty popular as well), shopping online – whether via a traditional computer/laptop or a mobile device – just clicked with consumers this year. With free shipping offers abound, gift givers were able to skip crowded malls, long checkout lines, and stock-outs in favor of cruising the web for the big bargains, competitive pricing, and compelling customer reviews from the comfort of their couches. However, with Holiday Shopping in Stores (Dec-12) landing at #15, it appears that plenty of Santas still preferred to shop the old fashioned way.

#1 Thanksgiving (Nov-12)

While the Black Friday shopping tradition is increasingly encroaching on the fourth Thursday of November, consumers are seemingly taking a stand on the Thanksgiving holiday, placing it atop our list this year. (Giving Thanks was #2 last year.) It’s a Wonderful Life, right?

* The month/year each item was asked is denoted in parenthesis (MMM-YY).

This post originally appeared on Forbes.com as a contribution to the Prosper Now blog.

Hot Trends for December: Not a Creature Was Stirring, Except for a Mouse…

December 27, 2012 Leave a comment

Do you hear what I hear? That wasn’t eight tiny reindeer up on the housetop recently, but the soft sounds of mouse clicks bringing joy to all of those good little girls and boys, as holiday shopping online topped out “Hot or Not?” segment for December.

Those who love the annual Christmas tradition of fighting for a parking space, scouring the [sale] racks for perfect gifts, and braving the long checkout lines, however, kept holiday shopping in stores alive at #2 in our heat spectrum this month. Buoyed by a large proportion of celebrants under 35, New Year’s Eve Parties clocked in at #3.

And perhaps one of the stories we’ll hear most about in 2013, mom-to-be Kate Middleton, Duchess of Cambridge, bested the results for Princes William and Harry earlier in the fall. She’s certainly shaping up to be the next people’s princess [at least among us Yanks] – particularly among women 35+.

Hot or Not? December 2012

Proof that you can put anything in front of the word “diamond” and find gift-giving success among the female crowd: about two in five women gave brown/chocolate diamonds two thumbs up. Ditto for cashmere. And rounding out fashion, while ugly christmas sweaters registered pretty cool on our heat-o-meter this month, those under 35 found the humor in this new holiday tradition.

Finally, while it appears that consumers certainly intend to celebrate as the ball drops for 2013, don’t expect them to be rockin’ with Ryan Seacrest.

For more on what we found “Hot or Not?” for the month of December, plus other consumer highlights, check out this month’s video briefing:


Happy New Year!

Source: BIGinsight.com

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development

3 Reasons Why 2012 Might be the Year of the Gift Card

December 18, 2012 1 comment

Holiday 2012 has been an interesting selling season. Consumers are cautiously optimistic, planning to spend slightly above what they did in 2011, though the economy / unemployment are still troublesome and the fiscal cliff could still turn out to be the Grinch who stole Christmas. Undoubtedly, though, the shining star of the season has been the resurgence of gift cards.

Have Already Purchased Gift Cards this Holiday Season (Adults 18+)While gift cards have been perennially touted as the perfect last-minute gift, a look at this year’s insights shows us that gift card buying patterns are shifting. For 2012, consumers aren’t waiting until Christmas Eve for these purchases; they are checking them off their lists much sooner. According to the National Retail Federation, nearly one-third (32.6%) of Black Friday Weekend* shoppers made a gift card purchase, up a whopping 40% from a year ago (23.1%). Further, as of the first week of December, holiday shoppers overall continue to pace ahead of previous years’ buying habits; two out of five (39.2%) have already purchased these stored-cash cards as gifts this season, up 25% from 2011 (31.4%).

So is 2012 shaping up to be the Year of the Gift Card? You betcha. So let’s take a look at three reasons why gift cards are a “must buy” among holiday shoppers this year.

1. We want gift cards – badly.

While they have been atop consumers’ wish lists since 2007, intent to buy gift cards sputtered during the recession as consumers reached for bargain merchandise that wouldn’t quite reveal the total dollar amount paid. This year, though, a record number of consumers are requesting them (59.8%, much higher than the second most request gift – apparel and accessories – at 49.1%), and a record number of shoppers are responding that they are planning to buy them (59.2%, nearly eclipsing the most purchased category – again apparel and accessories – at 59.7%).

Gift Cards: Holiday Wish Lists versus Holiday Shopping Lists (Adults 18+)

Bonus: Buying a gift card spares the giver and receiver from that awkward “here’s the receipt for the return” exchange.

2. Gift cards are still practical gifts.

Gift cards may be tempting this year because they can still be perfectly practical, which is on what the near majority of consumers are remaining focused in this uncertain economy. Recipients can buy what they want or what they need – and either way, it’s money well spent on behalf of the giver and better than a sweater relegated to the back of someone’s closet, no? Shoppers may have a little extra cash in their pockets this year, but if they are going to spend their hard-earned (and hard-saved) pennies, they’ll do it wisely. And remember, a $50 gift card to a discounter might be one man’s (or woman’s) groceries at Target but another’s new home décor from Tar-Zhay.

Bonus: And speaking of sweaters, gift cards are one-size-fits-all, so no worrying about whether or not Aunt Clara really did lose that 10 lbs. this year when debating between a medium and a large [oy].

3. We can buy gift cards “on sale.”

Back in the day (so…five years ago), buying a $50 gift card meant that the purchaser would fork over $50 cash.  And these days, with retailers and restaurateurs bending over backward to bring customers through their doors, it seems that incentives to buy gift cards are becoming increasingly creative as well as prevalent. Nowadays, a $100 gift card might come with a $20 bonus to use later (Merry Christmas to me, right?) Or, and this is one of the examples I saw a few times during my Black Friday exploits, a pack of five $20 gift cards might be discounted 20% to $80. Gift card purchasers may also be receiving more indirect incentives to purchase, such as grocery stores offering frequent shopper / fuel rewards or salons giving away coupon books for future services with gift cards purchases.

Bonus: Shop wisely and gift cards purchases can still come with that “you’ll-never-guess-what-I-paid-for-it” cachet, which was the feel good saying among holiday shoppers during the recession.

So are gift cards changing the way we approach shopping for holiday gifts? Certainly. However, when and if gift exchanges turn into gift card exchanges, I’ll bet we’ll see a renaissance of more traditional gift giving.

* “Black Friday Weekend” is defined as Thursday (Thanksgiving), Friday (Black Friday), Saturday, and Sunday.

This post originally appeared on Forbes.com as a contribution to the Prosper Now blog.

New December Insights in a Snap!

December 13, 2012 Leave a comment

This month’s Consumer Snapshot is ready! The video below is a concise look at a few trending topics for the month of December, designed to give you a BIG picture view of current consumers.

Here’s a brief overview of what we’re seeing from consumers in December 2012:

- Will the fiscal cliff prove to be the Grinch who stole Christmas? Confidence backs down two points from November.
– While the official unemployment rate registered at 7.7% for November,this doesn’t seem to be quite the hiring miracle consumers were hoping to see this season.
– After the buying bonanza that was Black Friday and Cyber Monday, consumers’ penchant for practicality rises in December.
– It appears that along with trimming the tree this month, consumers will also be trimming their budgets.
– Walmart versus Kohl’s is a toss-up this month in Women’s Clothing.
– Amazon.com climbs to record customer share in Electronics.
– It’s a frosty 90 Day Outlook with spending plans looking downward from Nov-12, Dec-11.
– What’s Hot? Holiday shopping…online.

 

Be sure to check out the NEW Consumer Snapshot InsightCenter™. When you register for complimentary access to this InsightCenter™, you’ll have the ability to segment an advance preview of our all-star insights on consumer confidence, employment, shopping strategies, and future purchase plans by several key demographic groups. You can also download this month’s text summary (which includes additional insights) as well as the PowerPoint analysis through this InsightCenter™.

Interested in becoming a BIG VIP? Please click here to sign up for access to a host of complimentary insights, from our briefings and webinars to press releases and more.

Source: BIGinsight.com

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

New November Insights in a Snap!

November 16, 2012 Leave a comment

This month’s Consumer Snapshot is ready! The video below is a concise look at a few trending topics for the month of November, designed to give you a BIG picture view of current consumers.

Here’s a brief overview of what we’re seeing from consumers in November 2012:

- Confidence reaches a five year high
– With the holiday season on the horizon, it appears that consumers are in a gifting mood
– With the majority planning to begin holiday purchasing before December, the tightwad tendencies we’ve seen over the past few months have begun to relax
– Payless advances to the co-leader position in Shoes
– Walmart trumps Whole Foods, Trader Joe’s in Organics
– 90 Day Outlook: Mixed from October, UP from Nov-11, Nov-10
– I hope Santa blings me something sparkly
– What’s Hot…Giving thanks for Black Friday?


Be sure to check out the NEW Consumer Snapshot InsightCenter™. When you register for complimentary access to this InsightCenter™, you’ll have the ability to segment an advance preview of our all-star insights on consumer confidence, employment, shopping strategies, and future purchase plans by several key demographic groups. You can also download this month’s text summary (which includes additional insights) as well as the PowerPoint analysis through this InsightCenter™.

Interested in becoming a BIG VIP? Please click here to sign up for access to a host of complimentary insights, from our briefings and webinars to press releases and more.

Source: BIGinsight.com

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

JC Penney’s Million Women Walkout

October 30, 2012 Leave a comment

While shying away from using the word coupon, JC Penney’s recent delivery of a $10 “gift” to its email newsletter recipients demonstrated that the beleaguered department store was finally bending to what its customers have been asking for all along: a deal. Since the commencement of its “Fair & Square” promotional strategy in Q1 of 2012, JC Penney has been fighting a losing battle with its dwindling customer base, trying to spoon feed shoppers everyday low pricing like its ice cream, while in reality they were tasting [insert your least favorite veggie here]. What did JC Penney forget? In this economy, consumers have the upper hand with retailers.

With sales set in a tailspin during the first half of the year, it’s obvious that “Fair & Square” was a costly turnabout for both JC Penney and its customers.  But what price did JC Penney pay in terms of lost shoppers?

According to the Consumer Equity Index™ for the highly competitive women’s clothing segment, JC Penney’s share of female customers shrank 13% in the past year, leaving the department store with an index of 86.9 (baseline index = 100).* That equates to a loss of 1.3 million of the department store’s most loyal female women’s clothing shoppers.

With their million woman march out of JC Penney, these shoppers appear to have gravitated to Kohl’s (index = 104.5), Macy’s (116.1), Target (121.6), and even Walmart (112.2) for their women’s apparel purchases. Female shopper share for each of these competitors has increased over the past 13 months:

A million shoppers are a lot to lose in a year’s time – especially in just one category – but the numbers become even more sobering when you consider how much potential revenue JC Penney let slip from its grasp. With the average female spending more than $500 per year within the women’s clothing segment, an estimated $745 million in potential revenue has walked out of JC Penney’s women’s department over the past year – that’s a big share of purse, if you will.

JC Penney’s $10 gift comes at a pivotal time for retailing: the all-important holiday season. And with shoppers continuing to be drawn to sales, coupons, and promotions like moths to a flame, JC Penney is likely to see a short-term increase in the foot traffic it so desperately needs. However, while the department store indicates that this “gift” does not signal their return to couponing, if they want repeat customers, they may have to keep the coupons gifts coming.

* The Consumer Equity Index™ from BIGinsight™ is a year over year index showing growth or decline of consumer preference share. An index of 100 is flat, an index of 105 indicates 5% growth, while an index of 95 denotes 5% decline.

This post originally appeared on Forbes.com as a contribution to the Prosper Now blog.

Follow

Get every new post delivered to your Inbox.

Join 2,585 other followers

%d bloggers like this: