With speculation about the future of Sears Holdings running rampant among analysts and amid news of additional store closures, one has to wonder which retailers might step up with shoppers should a Sears shutdown become a reality. Earlier in the year, I detailed the highs and lows for Sears, according to insights from Prosper’s consumer survey of more than 6,000 U.S. adults 18+. One positive that remained for Sears was its first place position in appliances; however, while Sears currently leads in this category, the once dominant department store’s share is undoubtedly slipping with shoppers. With some of retail’s biggest boxes, including Home Depot and Best Buy, vying for the appliance crown, recent analysis reveals that Lowe’s appears to be best positioned to succeed Sears’ reign. Continue reading →
When we first addressed Jet.com, the start-up had just launched with many speculating that this site, with its complex pricing algorithms, vast assortment, and low-threshold free shipping, could give Jeff Bezos & Co. over at Amazon a run for their money. Fast forward a few quarters (and past the crucial holiday season), Jet.com has dropped its membership model and is still spending media mega-bucks to convert shopper clicks away from competitors. For this analysis, we’ll take a look at the progress Jet.com has made with consumers at the seven month mark and whether or not Amazon.com should be worried. Continue reading →
While L.L.Bean ranked supreme among this year’s Customer Service Champions overall, younger shoppers certainly express a difference of opinion. New analysis of Prosper Insights & Analytics’ 2015 Customer Service Champions reveals that both the Millennial (born 1983 – 1997) and Gen X (1965 – 1982) generations nominated Amazon.com as their top choice for customer service excellence, while Boomers (1946 – 1964) were firmly entrenched in the L.L.Bean camp. However, a review of the three generations’ top picks for customer service providers highlights interesting similarities between these divergent age groups. Continue reading →
What’s wrong at Kohl’s? While the department store responded to a weak holiday quarter with a round of pink slips, the answer more likely lies with its shoppers. Using the consumer intelligence collected by Prosper Insights, this analysis reviews why the disappointing holiday season at Kohl’s wasn’t a surprise, as well as a broader trend eroding the store’s customer base – which has could have a devastating impact on the retailer’s future. 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 →
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 →
While consumers overall recently voted L.L.Bean the best in customer service, if you ask a Millennial, he or she will likely disagree. New analysis from Prosper’s Customer Service Champions ranking reveals a vast disparity between two of the most divergent generations, Millennials (born 1983-1997) and Boomers (born 1946-1964), when it comes to the retailers they elevate to customer service excellence.
First, let’s take a look at Millennials’ choices. This generation crowned online giant Amazon.com as their Customer Service Champion, followed by Victoria’s Secret, Best Buy, Nordstrom, and Macy’s. As an online leader and de facto search engine for many, Amazon’s top position among that this tech-savvy generation should come as no surprise. Add to that the Amazon Prime membership program, which is most heavily concentrated in young customers – nearly two out of five members are under the age of 35 – and Amazon’s got a recipe for loyalty among the Millennial generation that few retailers have been able to successfully copy. Continue reading →
Millennials’ Satisfaction with Their Jobs Doesn’t Increase Overall Happiness
Worthington, OH – July 30, 2013
Two in five (38.6%) Americans are satisfied with their current job situation according to a Prosper Insights & Analytics™ analysis of the latest American Pulse™ data. With a Job Satisfaction Score of 102.6, Millennials have a markedly higher rating than Boomers (92.6). The scores are an index to Adults 18+ of an aggregate job satisfaction score, which includes four key areas: benefits, work/life balance, compensation, and position/job within a company.
Listen closely…can you hear that? It’s the terrified screams from millions of children enjoying their summer breaks as retailers pound a [premature] Back-to-School drumbeat to get the second largest shopping season of the year underway. And when schools return to session in September, you can expect retailers to strike up the promotional band for the biggest selling season of the year: Holiday 2013. Forget the screams (along with Halloween and Thanksgiving), and cue the Buddy-the-Elf-esque joyful noise: “Santa!”
By these standards, is July too early for a peek at holiday spending intentions? I think not. Unfortunately, preliminary estimates aren’t looking like they’ll make retailers’ cash registers sing this year. Continue reading →