Recently, retail industry analysts and pundits were abuzz with the launch of Jet.com. A combination of membership-only exclusivity, low-threshold free shipping, and an intricate pricing algorithm, this new shopping site was seemingly positioned to be a formidable challenge to the web dominance of Amazon.com as well as other popular club retailers. In a spending environment where shoppers continue to be driven by price, loyalty is hard-won and easily lost, and this new entry to the retail space was certainly positioned to turn shoppers’ heads (and wallets) in a new direction. Enough about Jet.com’s potential, though: are shoppers buying into the Jet.com hype? Continue reading →
Prosper Insights & Analytics, a leading provider of advanced business intelligence, released the Holiday 2014: Retailers to Watch at the Morgan Stanley Global Consumer and Retail Conference today. Pam Goodfellow, principal analyst for Prosper, presented unique findings about select retailers along with emerging holiday trends. Continue reading →
With the back-to-school season winding down, it’s about that time of year for shoppers to look forward to the winter holidays. And while it may seem premature to preempt Halloween with the holiday discussion, last year one in five began their shopping prior to October, so many consumers are already planning their budgets for this all-important spending season. In July, we asked consumers to share their preliminary thoughts on holiday spending, and it appears that retailers may be in for a brighter holiday season compared to 2013.
According to the Prosper Spending Score, the overall outlook* for holiday gift spending in 2014 is up more than 8% from last year. While celebrants planning to spend more on gifts are relatively stable year-over-year at 9.1%, those budgeting less for gifts dropped 11% from 2013 to 38.0%. The majority of consumers (52.9%) are planning to keep budgets in line with the previous year. Directionally speaking, our preliminary Spending Score has served as a relatively accurate bellwether for consumers’ holiday intentions; last year’s lackluster score in July foreshadowed a nearly 3% drop in planned gift spending (released by the National Retail Federation the following October). Similarly, bullish preliminary outlooks for holiday spending preceded spending increases in 2010 and 2012. Continue reading →
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 →
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 →
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.
Worthington, OH – November 19, 2013
Prosper Insights & Analytics, a leading provider of advanced business intelligence, released the Holiday 2013 Retail Winners & Losers at the Morgan Stanley Global Consumer and Retail Conference today. Pam Goodfellow, principal analyst for the firm, presented a list of select retailers along with emerging holiday trends.
The terms “winners” and “losers” are relative with consumer spending expected to be down this year. While 2013 is the first holiday season that is Continue reading →
English: Logo of Best Buy, US-based retail chain (Photo credit: Wikipedia)
Best Buy’s problem isn’t shopper traffic, it’s buyer traffic.
Beginning on March 3, the big box will take yet another step to remedy this [very big] problem, when it beings a permanent price matching policy aimed squarely at low-price competitors like Amazon.com and Walmart. For those “showroomers” keeping tabs on prices with smartphones or tablets while testing out Best Buy’s wares in store, this announcement goes a long way to satiating that need for instant gratification that an online retailer like Amazon cannot fulfill – a potential “win” for Best Buy.
However, a big question remains: Will this new price matching policy be enough to restore shoppers’ trust in Best Buy? Continue reading →