Early indicators from the first week of August pointed towards a slightly more optimistic consumer, as confidence, happiness and other key markers were up. However, although these numbers are up month-over-month, they are below recent highs—basically giving back gains for the year. The key will be whether the turmoil and drop of the Stock Market will be contagious and cause consumer mood to retreat. Continue reading…
Prosper’s latest grant provides more insight Into media influence as a means for better advertising outcomes.
WORTHINGTON, OH (PRWEB) AUGUST 18, 2015
With its latest grant, the Prosper Foundation is pleased to continue to support the initiatives of the Applied Neuromarketing Consortium (ANC) at Northwestern University. The consortium consists of leading academics from the Medill School, Kellogg School and the Feinberg School of Medicine. This grant provides access to a new dataset of unique findings based upon questions around the International Affective Picture System (IAPS). It has been integrated with a 4,000 person subset from Prosper’s annual Media Behavior & Influence™ (MBI) Study of more than 15,000 participants. The goal is to better understand and use media influence as a means for achieving improved advertising outcomes. Continue reading →
Shoppers have certainly changed since the recession. Having adopted a “new normal” tenet that focuses on cost-conscious, value-driven approaches to spending, today’s consumers are constantly seeking out sales and promotions, comparing prices, and researching products to ensure they get the most bang for as few bucks as possible. Advances in mobile technology over recent years have only made it easier for shoppers to adhere to this mindset. While many thought that declining gas prices would be the shot in the arm to spending in 2015, cautious consumers defied conventional “wisdom” and instead focused on paying down debt and increasing savings. And so the challenging retail environment continues…
Now we find ourselves mid-year 2015 with the back-to-school shopping season upon us. The National Retail Federation reports that shoppers plan to spend about $630 overall on clothing, shoes, supplies, and electronics for their K-12 students this year, a nearly 6% decline from the $669 average planned budget in 2014. Since the recession, consumers’ back-to-school budgets have consistently followed an up/down pattern as parents restocked one year (“up”) and reused backpacks, digital devices, etc. the next (“down”), so this year’s decline in planned spending didn’t exactly come as a surprise. Of course, this doesn’t make marketers’ jobs any easier in what’s already proved to be a challenging year for ringing up retail sales. Digging into our back-to-school insights a bit further, though, can help us uncover which retailers may be better positioned to gain this season versus those who may end up missing out. And for this installment, we’ll focus on the “Big 3” in back-to-school retailing: Walmart, Target, and Amazon.com. Continue reading →
Fact: Millennials shop Walmart. Well, lots of people shop Walmart; the big discounter didn’t grow to be one of the world’s largest retailers without any shoppers. While this fact isn’t exactly headline news, it did recently come as a “shock” to Walmart executives that the youngest generation of adult consumers perused their aisles and “like Walmart the best” over competitors, thereby implying that Millennials “love” shopping Walmart.
Whoa. Like? Love? Let’s not get ahead of ourselves. Recent analysis of 25 merchandise categories tracked by Prosper Insights reveals unique insights on why Millennial shoppers are headed to Walmart as well as how this burgeoning group of shoppers really feels about the big discounter – pointing to some weaknesses that Walmart’s competitors could turn into opportunities. For benchmarking purposes, Millennials who shop rival Target were also examined for this analysis. (Note: Prosper conducts online consumer surveys and tracks the 25 merchandise categories via unaided, write-in questions). Continue reading →
In an uncertain economy, retailers and product manufacturers today can’t hold their breath for a return of the 1990’s or early 2000’s heyday. Factors such as demographics and the growth of digital and inefficient marketing and advertising plans are converging to create the sluggishness and it won’t go away overnight. The retail seas are choppy, but they offer leaders a chance to reassess their old systems and business models and chart a new course for success based upon new consumer intelligence.
Prosper has identified some key analytics to help leaders navigate these waters. Continue reading…
New information from ProsperChina highlights areas of opportunities for marketers as Chinese Stock Market faces uncertainty.
Worthington, Ohio (PRWEB) July 06, 2015
On the heels of China spending billions to prevent a stock market crash, it’s more important than ever to understand the Chinese consumer and how the power of the consumer societies in both China and the U.S will continue to entangle the two largest economies and increase their co-dependency. ProsperChina™ recently analyzed data from its InsightCenter to identify some key opportunities for growth in a dismal market.
According to the ProsperChina Consumer Spending Score, which represents consumers’ intended level of retail spending over the next 90 days for a particular category, Continue reading →
In the battle of every retailer versus Amazon.com, Walmart is preparing to take direct aim at the latter’s popular Prime membership program this summer with the introduction of Shipping Pass. For $50 a year – half that of the $99 Amazon Prime program – Shipping Pass members will receive free three day shipping on Walmart.com orders; it’s a bid to promote loyalty for the Bentonville-based behemoth and keep wandering shoppers from clicking over to Amazon and competing retailers as the retail world becomes increasingly digital.
It’s an interesting move for the discount giant, whose shopper wheelhouse includes lower income, budget-focused families. Would current Walmart shoppers be willing to invest in a $50 free shipping program? And, would the Shipping Pass discounted price entice Prime loyalists to change allegiances? Of course, one can only answer these questions by asking shoppers themselves, which is exactly what Prosper Insights did in our latest consumer survey. Continue reading →