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 →
In the battle for home improvement supremacy, Lowe’s always seems to settle for second place behind star performer Home Depot. While both of these big box behemoths recently posted comp store gains in for the critical first quarter, Lowe’s lagged Home Depot’s stellar performance in a mixed and uncertain retail environment, disappointing analysts and investors alike. When we last visited the Home Depot / Lowe’s rivalry, I equated the competition to Aesop’s Tortoise and the Hare fable. Then (and now), Lowe’s – the tortoise – benefited from a higher Net Promoter Score®, and its shoppers valued the “extras” Lowe’s offers beyond the location advantage of Home Depot – the hare – including perceived quality and store appearance. At the time, Lowe’s was on the verge of contesting its rival as the top pick among consumers, perhaps finally winning one for the slow and steady. Fast forward two years, however, and the big boxes are becoming increasingly bifurcated in Home Depot’s favor. So what’s wrong with Lowe’s? Continue reading →
According to the May monthly reading from Prosper, consumer confidence is flat month-over-month but up year-over-year. Planned spending on retail and dining, purchase intentions for autos, and consumer impulsivity are all rising.
Among Adults 18+, the May Consumer Confidence reading is at 48.6%, which is relatively flat compared to last month (49.0%) and up 18% from May 2014 (41.0%). Small Business Owners are tracking continue reading…
All of the items below are from recent headlines or research reports and they depict the turmoil and turbulence in today’s advertising world caused when advertisers attempt to deal with a new technology-driven media environment.
Item: For those who plan on buying a car or truck, 27% say TV influences their auto purchases. However, leading U.S. automakers spent nearly $6.5 billion (76% of measured media) on TV ads in 2013.
Apparently marketers aren’t winning this new war as the headlines indicate. Each year, hundreds of millions, maybe even billions, of ad dollars may be wasted due to outdated communication models. Continue reading…