Posts Tagged ‘retail sales’
Written on February 22nd, 2012 by Samanthano shouts
Consumers are rapidly changing the way that they spend money. Modern consumers want convenience and better prices even more than ever—in fact, they are demanding it—and they know how to get it too. With the rise of the great and magnificent Internet, a plethora of valuable information has made consumers all the wiser. Along with this phenomenon is the increased interest by advertisers to sell their wares on the Internet, as well as build interest in their retail stores among consumers. Now, the newest phenomenon is the rise of the mobile Internet via smart phones and tablets—and this is only the beginning.
Savvy Shopper
Every consumer wants to feel as though they have the upper hand in making purchases. The modern selling market, with an increase in electronic points of purchase, has opened up more choices for consumers. For most products, consumers no longer have to settle for what’s right in front of them. Today’s consumer can shop around, and at his or her convenience. According to a recent “technology business” presentation at the Web 2.0 Summit in San Francisco by Mary Meeker, an expert in the field, the increasing trend toward online business transactions is officially the preferred way for consumers to shop.
Consumers have driven ecommerce to an all time high. Meeker’s presentation put a spotlight on the tremendous growth of ecommerce over the last decade—retail store sales have risen to a height of approximately 6% with a marked depression of -9% at the beginning of 2009. On the other hand, ecommerce experienced a 30% height with a marked depression of -3% during the same beginning period of 2009. During the observed ten year spread this significant difference in percentage of sales was maintained with only a 10% minimum difference for at least six years straight, with ecommerce dominating the market.
Recovery of both systems were nearly parallel by the end of 2009 until the first quarter of 2010, when both systems started to split with ecommerce returning to a dominant height.
Commerce Going Mobile
Consumers have become savvier as the age of the Internet has pressed on. Comparison-shopping has always been a strategic staple of shopping. This may have called for a lot of legwork, then on to comparison-shopping online—today comparison-shopping can be done on mobile devices. In fact, there has been an unprecedented rise in mobile comparison shopping—while in retail stores 52% of consumers were able to find items at a better price online, 51% found items at a better price at another store, and 34% found negative reviews about an item on mobile devices Q3:2011.
Another selling point being used by merchants is giving preferential treatment to mobile users such as mobile user discounts, mobile coupon recognition, and specialized apps or subscriber programs that send out text messages advising consumers of upcoming deals that they can take immediate advantage of. As I am sure you can imagine, this is a seriously meaningful prospect for merchants and advertisers alike. This has also proven to be a “rejuvenator” of “local commerce” as a direct result of these activities.
According t0 Meeker’s report, the skies the limit on this type of mobile growth.
Resource:
Business Insider: http://www.businessinsider.com
Written on January 26th, 2012 by Samanthano shouts
JCPenny® has been making big waves in the newsroom lately. The conglomerate has made announcements this week to make those waves. They have new leadership, a new look, and are making dramatic changes to their “pricing strategies.” These will be distinguishable by a multi-tier “level of pricing.” The three identifiable levels will be designated by clearly laid out badges for the public to quickly and discernibly make selections from.
Everyday Value (red tags)
Monthly Long Value (white tags)
Best Prices (first and third Friday of each month)
These three levels of detectable shopping values are expected to bring in more customers and promote more return visits. Goals are set for “shopping to be an event again.” JCP has noted that they created approximately 590 promotions in 2011—with a visitation ratio of 4 visits per consumer out of 12 months means that the majority of visitors were not aware of active promotions, according to JCP strategists. The new strategy is supposed to change all of that by offering continuous sale advantages. JCP strategists believe that this will promote a higher frequency of planned shopping trips. This anticipates higher spending and return shopping visits.
The estimated value of the proposed discount is expected to be a permanent price reduction of 40%-50%, at all JCP stores throughout the country. That is a huge amount of saving and at such an opportune time, when the Americans are looking for the better deal everyday.
Some financial experts have critiqued this strategy by noting that Wal-Mart® stores attempted to do the very same thing and experienced a financial backlash because of it. However, other experts are banking on JCP making a better go at it. Only time will tell.
Meanwhile, Wal-Mart and Target® are doing the best they can to hold the better title of all around store value. Following Wal-Mart’s successful venture into grocery offering, Target has recently expanded its full grocery section to include fresh produce.
Each store has prided themselves on having very low prices and at convenient locations. However, a recent survey conducted by Kantar Retail IQ has revealed that Target has lower prices than Wal-Mart. This is from a study started in 2009.
The survey included purchases from edible and non-edible groceries, beauty products, and store brands of various items. The study concluded that Target shoppers are saving close to 3 percent more than Wal-Mart shoppers. This is the result of a test that was conducted five times, with Target being the better place to buy three out of those five times. So Wal-Mart does have some good days—as a consumer you may have to dig a little to find them out though. Some advice offered by the experts:
- Target fared well when key items were on sale. The sale items offered a deeper discount when compared to Wal-Mart.
- Wal-Mart store brands had an overall advantage over Target store brands for pricing. If you like the Wal-Mart store brand, then you may want to stick with those.
- Wal-Mart does not want to be defeated and is also “reemphasizing” its own low pricing strategy—so that they may have more to offer, and for less than Target, in the very near future.
To the winner, go the spoils.
Resources:
Daily Finance: http://www.dailyfinance.com
MSN Money: http://money.msn.com
Written on December 19th, 2011 by Samanthano shouts
Times have been tough for all us lately. The economy has forced many Americans to do without the usual and consistent luxuries. However, American women have adapted and even drove a particular market sky high—nail polish. Isn’t that simply amazing? There are plenty of beauty rituals that do not need to be put off because of the overturned economy. Become a do-it-yourself person, and get the most out of your own natural talents.
Nail Shop Envy
Consistent trips to a nail beauty salon used to be a grooming necessity. Now, it has become an every now and again luxury for many. A typical manicure and pedicure costs about $25 – $30 dollars, with a modest tip for the nail technician. That is a total cost of approximately $60 dollars per month, or approximately $720 dollars per year—when you add that up at the typical bi-weekly visiting rate for nail grooming. This does not include transportation costs, or the purchasing of a quick snack and beverage while waiting to be seated for services. That is a lot of money that can be used elsewhere, and for a more long lasting or productive purpose.
American Women Are Doing It For Themselves
Self-serve has taken on a whole new meaning this year. The numbers of self-grooming products are proving it—nail polish and nail products in particular. Nail polish products buying by average American women has gone up a whopping 59% for the better part of this year, according to the NPD Group market research firm. That is up from the same time in 2010.
Women are able to take care of this task themselves, and the opportunity to change up their look is endless. There is no need to wait for bi-weekly grooming, or for your favorite nail technician to be available. With the colder weather upon us, it can also be a bit more troublesome experience—try to get a pair of socks, boots, and gloves on after a fresh Mani Pedi. All that has to be done is to pick up a bottle of nail polish from a local beauty supply and voila—instant beauty makeover. This is quick, inexpensive, less time consuming, and truly gratifying.
Women just can’t seem to get enough.
Real Beauty
Women who want to be beautiful will find a way to achieve it without the salon. There are lots of beauty treatments that can be done at home. There are homemade beauty wrap recipes and products. Natural product facemask recipes for all complexions are easy to find with the some online research. YouTube is loaded with a plethora of instructional beauty regimen videos. Bring the spa experience home by adding romantic scents to the home atmosphere while performing a home beauty regimen. Make a party out of it by inviting some friends over. Get ready for the holidays—and save some money while you are at it.
With a bit of research women can find a ton of recipes on homemade beauty techniques, at a fraction of the cost of going to a beauty parlor or salon. That’s your beauty bonus.
Resources:
Reuters: http://www.reuters.com
Yahoo!: http://www.yahoo.com
Written on November 28th, 2011 by Samanthano shouts
Retailers waited anxiously for what has become the biggest day in retail for decades now—Black Friday. Occurring on the day after Thanksgiving, Black Friday has been used as a determining retail factor for financial figures for the rest of the holiday season for decades. Retailers that do well on Black Friday may expect to do well financially by the year’s end. This has lead to an expected frenzy of encouraging sales to lure shoppers so that they get a jump making on holiday purchases—including extending Black Friday to “Black Friday weekend.”
Everything and Anything Goes
Televisions, cell phones, computers, house wares, laptops, clothing, furniture, jewelry, and of course the crowd favorite—toys. Retailers had all of these on sale. Savvy consumers made the most out of some of the best shopping deals on the momentous day. Items that were usually sold at much higher prices earlier in the year were offered at a deep discount this past weekend. Retailers have been following suit by offering new items during the Black Friday event. Manufacturers have also been playing along, by offering new and updated items with late fall release dates. This spanned from e-readers to the latest and greatest video games. All of these retail forces worked together for the largest profit imaginable.
So how well did American retailers do this year? Very well, and better than expected according to experts. The National Retail Federation has estimated that during the weekend of Black Friday consumers spent a “record $52 billion dollars.” There were an estimated 14 million more shoppers in stores this past weekend, and nearly 25% of all shoppers that visited stores did so during the 12-midnight opening time on Friday. The earlier shopping hours went over well with shoppers that just wanted to get it out of the way as soon as possible and felt this was a welcoming alternative than getting up in the early morning to beat other shoppers to the door. Some shoppers would have been able to have dinner and camp out in front of stores with dessert—only in America.
And the Winner Is…
Lots of deals had eager shoppers flying in and out of stores this year, and Best Buy was a “big winner,” according to Reuters. Seen by experts as a retailer that may be closing up shop soon earlier this year, Best Buy turned a nice profit by attracting more shoppers than last year. Last season, Best buy concentrated on having some of the best items, but not at the best or most affordable prices as compared to other retailers offering the same or similar items. This year, Best Buy took a huge lesson from last year’s shortcomings and offered some of the best and most wanted items for lower prices. This was definitely their saving grace from this holiday season.
However, online shopping went up by over 30% from last year. The “leader of the pack” being Amazon. Wal-Mart came in second—Macy’s, Target, and Apple online stores also did very well.
Resources:
Associated Press: http://www.ap.org
National Retail Federation: http://www.nrf.com
Reuters: http://www.reuters.com
Written on November 15th, 2011 by Samanthano shouts
It’s Your Money
The holiday shopping season is finally here and shoppers are expecting a lot. Experts have predicted that shopper spending will increase almost 3 percent from last year. A lot of that has to do with the expectation of great holiday deals from retailers this season. Retailers are following suit by offering some amazing deals, and well before Black Friday actually arrives. The deals are expected to be so great that most experts predict that shoppers will not only buy for loved ones—they will buy for themselves as well. Some retailers have even started whole marketing campaigns around this popular theory. There may be a surge in BOGO’s (buy one get one) this holiday season as a direct result.
Here is a mini survival kit on how to get the most out of the 2011 holiday season.
Shop Around
Look through store circulars and compare the prices. You are sure to pinpoint items that you want to check off of your holiday shopping list. If you prefer dealing with a particular merchant, bring in competitor prices to see if they will match it.
Get Out Early, or Stay up Late
Lots of stores have set a trend of trying to beat out the competition by opening up as early as possible over recent years. The 8 am opening time has been swept aside for the 6 am opening, and then the 4 am opening. Well retailers have gotten even cleverer by offering Black Friday midnight (morning) sales. Macy’s, and others will be opening their doors at midnight so you can start shopping before sleeping off your delicious Thanksgiving meal. Check your local retailers for more details.
Go Online
Cyber Mondays has evolved into cyber everyday around the holidays. You do not have to wait until the Monday after Thanksgiving to get great deals. Great deals are only as far as your fingers can type your most wanted items into search modules.
Rain Check
Coveted items are sure to get top billing at most stores, which means that they will probably run out the fastest. You may be able to get a rain check from some retailers if this should happen. Don’t expect that you will be able to get the item before Christmas though. You may have to be patient and wait until the New Year—better late than never.
Keep Your Sanity Intact
The holidays can be one of the most stressful times of the entire year. If you do venture out, the lines are bound to be quite long with determined shoppers, who all want more than a retailer may have in stock. Be patient, and have several destinations in mind. If an item cannot be found at one store, it may be at another. This is a good time to get that out the e-reader and browse through a novel, or play a quick game. Bring along company, snacks, and water too. You don’t want to get dehydrated and famished while waiting on line.
Remember that a lot of stores may have an online website as well. If you can’t find it at the store you may be able to find at the store website.
Resources:
National Retailer Federation: http://www.nrf.com