Latest consumer insights for July 2016. For more: www.ConsumerSnapshot.com
From Forbes on July 14, 2016:
According to Fung Global Retail & Technology’s recently released report titled The State of Consumers in the US and China, there are some stark differences between US and Chinese consumers, including in terms of consumer sentiment and online shopping behavior. It is important for marketers to understand consumer spending behavior in the world’s two largest economies, as any movement could tip an already fragile global market.
Deborah Weinswig, Managing Director of Fung Global Retail & Technology, said that key findings from the report include: Continue reading…
From Forbes on July 12, 2016:
The conference agenda contained a session that jumped off the page and whacked me on the side of the head. It promoted a 6 Step Program for guaranteed marketing improvement and elimination of ad waste. It went on to say something about how today’s markets are different from the past and constantly shifting. The old marketing methods are no longer applicable for today’s marketplace and won’t provide the requisite skills for developing sustainable revenues and profits. But leave your expert resume outside as only those willing to be challenged to change in an interactive environment need to attend.
I had never seen a session that didn’t want you to attend before, nor one that challenged my attitude to change, so I penciled this one in. Continue reading…
From Forbes on June 28, 2016:
Nearly a year after its test launch, Wal-Mart Stores recently revamped its ShippingPass delivery subscription program, rolling back the price of a yearly membership by $1 – to $49/year – and speeding up the delivery time frame from three days to two. At the time of these changes, mid-May, the program appeared to be invitation-only, allowing interested shoppers to sign up for a wait list for membership. As of late June, while ShippingPass is still termed a “pilot” program, Walmart – per its website – has opened up subscriptions to “everyone, no invitation required.” With Walmart now offering comparable shipping speed at half the price of Amazon’s popular Prime membership, has consumer interest ignited for ShippingPass? Continue reading
From Forbes on June 29, 2016:
Prosper’s Consumer Confidence reading is up nearly three points from last month, while the Prosper Spending Score is down less than one point. Deborah Weinswig, Managing Director of Fung Global Retail & Technology, provides analysis on the future of consumer confidence, the Consumer Spending Forecast and what it says about consumers’ position to spend, the Consumer Mood Index by category, and subsequent categories that may benefit or suffer based on consumer automotive purchase intentions. Continue reading…
From Forbes on June 21, 2016:
It’s been nearly a year since Jet.com, a direct challenger to the Amazon.com e-commerce empire, launched onto the retail scene. And over this relatively short time period, Jet.com has dropped its initial membership model, instead offering free shipping on orders over $35, two-day delivery on common household essentials, and an almost game show style shopping experience where customers unlock new deals and discounts when they waive free returns, buy in multiples, pay with debit cards, or add specific items to their online carts. On paper, this business model seems like a surefire way to gain savings-hungry, free shipping-loving shoppers’ attention. So is Jet.com making inroads with consumers? Or is the site destined to become another blip on Amazon’s radar, à la once hot flash-sale sites like One Kings Lane? For this analysis, we’ll take a look at Prosper Insights & Analytics’ latest consumer insights on Jet.com shoppers – including repeat purchasers – as well as how the Jet.com shopping experience stacks up against Jeff Bezos’ behemoth. Continue reading
Latest consumer insights for June 2016. For more: www.ConsumerSnapshot.com
Index is Less Volatile and More Useful for Category and Retailer Predictive Analytics
June 6, 2016 – Prosper Insights & Analytics™ and MacroSavvy™ LLC have collaborated in the development of the Spending Confidence Index™, a less volatile index of consumer confidence/sentiment. This new measure integrates psychological and behavioral factors that affect spending and is valuable for all who wish to predict personal consumption.
The new index and its components are especially valuable for predicting spending at a category level. The index provides a new tool for category analysis and is part of a broader category toolkit that will result from the collaboration between Prosper and MacroSavvy. Continue reading
From Forbes on June 2, 2016:
At the recent Shoptalk commerce event, Jason Goldberger, Target’s Chief Digital Officer and President of Target.com, spoke about his customers’ point of view regarding on-demand delivery, insisting that instead of an immediate gratification shipment, Target guests were more concerned with having their expectations met within an accurate delivery window. That is, if the shopper was informed that their package would arrive on Tuesday, it should be sitting on the doorstep on Tuesday, even if that meant waiting the standard three to five business days for the package to arrive. This sentiment was also reinforced by the retailer’s recent abandonment of its pilot partnership with the Curbside pick-up app to focus on delivery and execution of retail fundamentals. However, recent research collected by Prosper Insights & Analytics suggests that Target guests in particular prefer a more expedited shipping process. Continue reading
From Forbes on June 1, 2016:
Prosper’s Consumer Confidence reading is down and the Consumer Spending Forecast is flat. Deborah Weinswig, Managing Director of Fung Global Retail & Technology, provides analysis on why sentiment is soft, as well as where consumer discretionary dollars may be going this summer. She also weighs in on a potential bright spot—the auto market. Continue reading…