It’s been five years since Best Buy unwittingly acquired the “showroom” moniker thanks to online-upstart-turned-serious-competitor Amazon.com. I’ve previously detailed the showroom showdown between the two electronics giants as well as Best Buy’s issues converting its shoppers into buyers. And since then, Best Buy has made concerted efforts to improve its profile among consumers by investing in customer service, updating the in-store experience (e.g. the Samsung Experience Shop), and promoting the Internet of Things (IoT) while minimizing the space out-of-date products waste on the sales floor (so long, digital cameras). Perhaps more importantly, though, Best Buy implemented a competitor price matching policy aimed at preventing shoppers from leaving stores (or abandoning its website) empty-handed. So how have consumers reacted to Best Buy’s changes? New analysis from Prosper Insights & Analytics’ monthly survey of more than 6,000 U.S. consumers nationwide reveals the progress Best Buy has made with shoppers over the past five years as well as the challenges that continue to haunt the electronics retailer in its battle with Amazon. Continue reading →
Prosper Insights & Analytics™, a leading provider of business intelligence solutions, has released a new report available for purchase titled, “Prime Risk: A Retailer’s Guide to Understanding Amazon Prime Members.”
Over the past several years, as Amazon.com has grown its market share, loyal customer base, and product lineup, it seems that many competing retailers and brands underestimated – or were in complete denial of – Amazon’s impact on the retail industry and shifting shopping habits as consumers increasingly became comfortable purchasing online. Amazon is no longer an abstract digital pest for retailers – it’s a full-blown disruption to the industry as a whole. Shoppers, who are increasingly becoming Prime converts, LOVE the change, which in turn threatens the livelihood of every other retailer in the industry. As they gravitate toward Amazon in search of products, information, and other digital services, traditional retailers are left to compete for shrinking share of consumers’ wallets.
For retailers no longer in denial about the effect Amazon has had on both shoppers and the retail industry, this report is to serve as a guide to understanding Amazon Prime from the point of view of consumers, identifying which retailer shopper groups and formats are most at risk for losing customers to the Amazon vortex. Continue reading →
Is the Fire Phone the next great mobile device? With the first smartphone from Amazon.com set to launch on July 25, we took this question to one of the most important components of the buying equation, consumers.
Amazon.com may be finally facing a worthy adversary in the retail arena: itself. The online giant recently announced its intent to increase the $79 annual fee on its popular Prime membership by $20 to $40, but our consumer insights suggest that its shoppers aren’t buying into plan, signaling what could be a dangerous move in an already hyper-competitive retail environment where loyalty is hard to win and easy to lose. Continue reading →
As we await the announcement of the latest and greatest from Samsung – the suspected Galaxy S5 – later this month, I thought it would be interesting to take a look at continued battle between this smartphone giant and that other giant, Apple. While Samsung’s global market share remains intact, according to our latest insights, Apple is the dominant player in the smartphone market stateside, with 43.7% of U.S. adults 18+ owning one, with Samsung resting in second position (25.7%). Combined, these two Goliaths account for more than two-thirds of U.S. smartphone ownership among adults, ahead of smaller players like Motorola (7.5%), LG (7.0%), HTC (6.6%) and BlackBerry (3.0%).
What’s interesting about these two big competitors, though, is the loyalty between the two brands when shopping for a new smartphone model – and how much this loyalty is worth. Continue reading →
December 10, 2013
Consumer electronics remain a popular gift category this holiday season. 36.1% of Americans have added items such as TV’s, DVD players and mobile devices to their lists. And it appears that they may get their wish; one-third of consumers plan to buy electronics for others. The latest findings from Prosper Insights & Analytics profiles specific retailers that offer electronics and uncovers which of these retailers’ shoppers are most likely to be impulsive in their purchase decisions. Continue reading →