Brick-and-mortar stores—which include discount stores, specialty stores and department stores—remain the main channel at which surveyed men most often purchase menswear, for a total share of 78.3% as of June 2016.
The majority of surveyed men have purchased menswear online, with 67.0% having done so in June 2016. However, those who do over half of their menswear shopping online remained a small minority, representing only 14.8% of surveyed men, whereas those buying most often online was a niche segment, at 2.6%.
The number of Amazon menswear customers has doubled over the past five years―23.4% of those surveyed bought menswear at the online retailer in the three months prior to June 2016, up from 9.4% in June 2011. However, those buying menswear most often at Amazon remained a niche segment, with a share of 2.1% in June 2016.
Amazon, Kohl’s and Walmart appeal to price-sensitive customers―over 85% of their customers cite price as the reason they shop there. Macy’s positioning differs slightly, in that it has an edge on selection and style compared to the other top retailers.
Deborah Weinswig, a top-ranked global retail analyst who writes about retail and tech, recently authored “The ‘Recycling’ Of Department-Store Shoppers — And Why Amazon Could Gain From Macy’s Closures” for Forbes.com. In the article, Deborah uses unique consumer insights from Prosper Insights & Analytics to show how Macy’s store closures will benefit Amazon. This article is timely for anyone in the retail industry and we think you will enjoy it.
In just the last few years, iconic names like Borders, Radio Shack and Sports Authority have all gone the way of the T-Rex…they are extinct! Disruption is and will continue to be a constant as we can see from political campaigns to consumer’s shopping behaviors.
Today, the effects of this disruption can be seen in accelerated retail store closings, legacy brands increasingly on life support and plummeting mall real estate values.
In response, private equity, corporations, and academic institutions have responded by pouring billions of dollars into an ever-expanding universe of big data firms with services, hardware, software and course offerings all promising to find the magic potion when firms aggregate their data gold mines.
This, in turn, leads to a bright light shined on the most important variable in this equation…the data. And the resulting reflection has uncovered 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 →
Columbus, Ohio and Hong Kong, China — October 19, 2015 — Prosper Insights & Analytics™, a leading provider of business intelligence solutions, and Fung Business Intelligence Centre (FBIC), the research arm of the Hong-Kong based multinational Fung Group, announced today that they have formed a strategic alliance to provide unique insights and analysis on retail and technology trends regarding U.S. and Chinese consumers. As part of the alliance, the FBIC experts will have access to Prosper’s consumer and market information as well as predictive analytics and software applications which they can use as a source for special analysis to be included in articles, reports and other publications. Continue reading →
Consumer packaged goods (CPG) companies recognize their vital role in coordinating category management and shopper insights to help retailers keep up with the ever-changing consumer. To meet this need, Learning Evolution and Prosper Technologies have expanded their relationship to integrate Prosper’s Science of Influence metrics into Learning Evolution’s certified online category management and shopper marketing training programs for CPG and Retail firms. Continue reading →
This Unique Subscription-Based Strategic Data And Analytics Platform is Designed to Provide Business Executives with Consumer Insights to Help Them Make Evidence-Based Decisions
NEW YORK, November 17, 2014 – Forbes Insights has partnered with Prosper Insights & Analytics to launch the Forbes Executive InsightCenter™– a one-of-its-kind subscription-based integrated data platform (www.ForbesExecutiveInsightCenter.com) loaded with advanced analytics that integrate hundreds of consumer insights from thousands of various data sets. These data sets are expected to help business executives find meaningful insights to make better, evidence-based decisions, as well as highlight previously unknown insights about companies’ customers, competitors, the marketplace, economy, and future consumer spending plans, giving executives a competitive edge in an ever-changing marketplace. Continue reading →
It’s a highly competitive retail marketplace. Corporations are always looking for a competitive edge. With that in mind, here are five unique business insights with one goal—to arm business professionals with valuable pieces of consumer intelligence to take to their executive team. These insights will provide a different perspective, aid in decision making, and impress them, all at the same time. Remember these and you’ll have something to talk about if you run into your boss at the water cooler.
1. What to say when your boss asks about the spending outlook for retail… continue reading…
This advanced strategic application helps the C-suite grow sustainable revenues and profits.
Worthington, OH – 9/16/14
The C-suite can now access an application that puts the power of data analytics and visualization into an easy-to-access InsightCenter for decision making. Senior level executives are challenged daily with making big-time decisions based on the information they have at hand. Being able to access the most relevant business intelligence in a quick, easy-to-use manner is critical for success in today’s constantly changing market. With the launch of the new Executive Retail InsightCenter™ by Prosper Insights & Analytics™, the first in a series from the new Executive Insight Platform which simplifies decision making, senior level retail executives can cut through the clutter of useless and irrelevant data and find meaningful insights to make better decisions. Developed using advanced analytics, the InsightCenter allows executives to uncover previously unknown insights about their customers, competitors, the marketplace, economy, and future spending plans. For today’s executive, it’s not about how much data they have; it’s about having the right information to drive smarter decision making. Continue reading →