With the challenging holidays officially in the rear view, ‘tis the season for store closures. While Macy seems to be bearing the brunt of the criticism, Sears Holdings, relatively speaking, slipped under the radar with its recent disclosure that it will be shuttering a “small percentage” of Sears (as well as Kmart) stores in 2016. This confirmation appeared to be par for the course for the department store dinosaur, which just might be dying the slowest death in retailing history. But is there any silver lining for Sears? Using consumer insights from Prosper, I’ve analyzed the good, the bad, and the ugly of the Sears predicament to examine whether or not there is anything salvageable for this century-old chain going forward. Continue reading →
With the holiday season in full swing, consumers seem to have a jollier economic outlook in November based on confidence and impulsivity readings. However, it is yet to be determined if the Paris attacks will weigh down consumer confidence in December. The November Spending Forecast (which represents consumers’ intended spending levels over the next 90 days) is up nearly two points from last year. This reading is an improvement over October’s forecast when year-over-year comparables were flat. 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 →
Although Walmart’s global e-commerce operations reported 22% gains in sales for fiscal year 2015, U.S. same-store sales at Walmart stores were comparatively lackluster at +0.5%. Overarching retail trends like declining store traffic, the “death” of malls, and rise of online shopping (and, of course, Amazon.com) have been discussed at length by analysts and industry pundits with Walmart executives announcing plans to combat this in-store shopping fatigue by improving customer experience, keeping prices low, and expanding product assortment. While this three pronged approach to engaging shoppers and promoting loyalty to Walmart seems well-meaning, it’s also very broad and, quite frankly, could be used to define the strategies of any one of Walmart’s competitors, including Amazon.
Using the years of syndicated insights Prosper has collected on Walmart, I took a deeper look at one of the big discounter’s core customer groups – its grocery shoppers – in order to gain a better understanding of what ails this retailer. This analysis revealed that potential revenues are leaking like a sieve out of Walmart’s apparel departments, with Kohl’s lapping up a hefty proportion of Walmart’s so-called “lost opportunity.” Continue reading →
Consumers may forgive, but they will not forget. Unfortunately in Target’s case, shoppers are slow to even muster up that forgiveness. With its holiday data breach impacting every level of Target’s organization, one must look to the most important piece of the equation – customers – to assess the ongoing damage and pinpoint what’s working for the retailer versus what’s not. For this new analysis on the current state of the former discount darling, we’re examining the point of view from one very influential group of shoppers, women. Continue reading →
Snapshot Provides Valuable Insights For Marketers in Both United States and China
Worthington, OH – 4/4/2014
ProsperChina™ has released the latest in a series of Consumer Snapshot Infographics, available in both English and Chinese, to provide global marketers with a better understanding of Chinese Consumers. This infographic shines a spotlight on the young Chinese luxury consumer, including their confidence, practicality, focus on needs versus wants and budget consciousness, compared to all Chinese consumers. It also includes their feelings on fashion trends and familiar labels, as well as where they shop most often for beauty and apparel purchases. Continue reading →
First Infographic Shines Spotlight On Consumer Sentiment, Purchase Intentions And Prosper Spending Scores For Apparel And Shoes
Worthington, OH – 3/6/2014
ProsperChina™ has released the first in a series of Consumer Snapshot Infographics, available in both English and Chinese, to provide global marketers with a better understanding of Chinese Consumers. The infographics will serve to compliment the ProsperChina InsightsCenter, a unique cloud-based platform that allows for easy data integration. The InsightCenter draws from Prosper’s proprietary data warehouse that includes hundreds of already analyzed data sets as well as the ProsperChina Quarterly Survey which is the largest, ongoing survey of its kind in China. Further, this unique software allows Prosper to quickly build solution applications which are automatically updated for consistent decision making. Continue reading →
Prosper Insights & Analytics recently released the Holiday 2013 Retail Winners & Losers at the Morgan Stanley Global Consumer and Retail Conference. Pam Goodfellow, principal analyst, presented a list of select retailers along with emerging holiday trends. For Morgan Stanley’s video recap, please click on the image below.
The Q3 2013 Chinese Consumer Snapshot video is a brief look at young Chinese consumers’ economic sentiment compared to their U.S. counterparts. It also draws comparisons between the two groups regarding topics such as practicality, purchase intentions, online research and dining out.
Among shoppers who tend to leave Macy’s for Kohl’s when they’re shopping for women’s clothes, about 84 percent say they shop at the discount retailer for its prices. And those shoppers spend about $52 per month on women’s clothes on average at Kohl’s. Shoppers who mostly buy women’s clothes at Macy’s spend just over $76 per month in that category.