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.
Generally speaking, Americans tend to be fairly balanced between impulsive and cautious when it comes to their spending habits. The December Prosper Impulsivity Score has them pegged at 2.9 on a 5-point scoring scale. (The closer to five indicates that they are more likely to agree that “My philosophy of spending is ‘Live for today because tomorrow is so uncertain’.”) The Impulsivity Score provides marketers with an indication of which shoppers may be more likely to grab an unplanned gift or to be “up-sold” beyond their initial purchase plans this holiday season.
Best Buy, Walmart and Target Shoppers all hover just slightly above the national average for impulsiveness, with Sam’s Club and Kmart Shoppers just below. Of those profiled, Amazon Shoppers appear to be the most thoughtful in their spending habits—or, least impulsive—likely taking advantage of the online retailer’s product review and price comparison features.
Prosper Impulsivity Score for Shoppers* from Select Retailers (Index to Adults 18+):
Source: Prosper Insights & Analytics
*Shoppers are defined as those who indicate through an unaided, write-in question that they shop that particular
retailer most often for at least one merchandise category.
For more Holiday 2013 information and to view the report, click here.
About the Prosper Impulsivity Score
For the Prosper Impulsivity Score, consumers are asked the following question: How do you feel about the following statement? “My philosophy of spending is ‘Live for today because tomorrow is so uncertain.” Respondents then rate how much they agree on a scale of 1 to 5, with 1 being “Strongly Disagree” and 5 being “Strongly Agree.” The score is calculated using a weighted average. The closer the score is to five, the more likely consumers are to be impulsive in their purchase decisions.
These Prosper Impulsivity Score and other Smart Data apps are available via Prosper’s InsightCenter technology, which integrates data from multiple sources and applies unique algorithms within the system. Prosper’s platform allows clients to predict markets, understand consumer segments and develop core business strategies.
Prosper found that the Impulsivity Score is highly correlated to lightweight vehicle auto sales and is used in their Auto Outlook, along with consumer auto purchase deferrals and select government data. According to the latest information, the December Auto Outlook is looking up both month-over-month and year-over-year. For more information about the Prosper Auto Outlook and other Smart Data apps, click here.
About Prosper Insights & Analytics™
Prosper Insights & Analytics provides advanced business intelligence using sophisticated analytical software to examine big datasets and provide answers to executives via its cloud-based InsightCenter™ platform powered by Prosper Technologies. By integrating a variety of data including economic, behavioral and attitudinal data, Prosper Insights & Analytics delivers insights for executive decision making. Further, it is continually identifying unique insights through analytics to enable marketers to make knowledge-based decisions rather than relying on intuition.
Client Services & Marketing Director