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  • Master the different elements of your media mix using store-level sales data
    • 06/09/17
    • Retail
    • Technology
    • Point of Sales Analytics
    • Singapore
    • English

    Master the different elements of your media mix using store-level sales data

    In our free webinar, you'll learn how to juggle the different elements of the media mix and maximize their performance so that they deliver a greater return on investment.

  • Digital vs. non-digital advertising: Where should you be investing?
    • 06/08/17
    • Retail
    • Technology
    • Point of Sales Analytics
    • Global
    • English

    Digital vs. non-digital advertising: Where should you be investing?

    In our video we can help you to understand which of your media are delivering the best ROI - and which to invest more in to drive higher returns. 

    • 06/02/17
    • Retail
    • Global
    • English

    Why retailers shouldn’t shy away from Amazon Prime members

    This is based on a byline article published May 15 by Internet Retailer.

    Amazon Prime members contributed $6.4 billion in revenue to the online behemoth in 2016. So what can other retailers learn from the digital behavior of this cohort, which is estimated at more than 65 million people? Many things, foremost among them that Prime members are very heavy online shoppers and are not wed exclusively to Amazon. In fact, they spend lots of time on other retailing apps and websites and, as a result, are ripe for conquesting by competitors who can rival Amazon’s seamless shopping experience. Apps should be a key component of this strategy.

    Tracking their behavior

    To conduct an in-depth analysis of Amazon Prime members, we accessed the passively tracked behavior of approximately 300 and compared their behavior to slightly more than 400 non-Prime consumers. This occurred from Aug. 1 to Dec. 31, 2016 via KnowledgePanelDigital, a cross-device single source panel that passively tracks digital behavior among a sample of mobile (smartphone or tablet) device owners.

    More than 100 digital shopping resources—from clubs like BJ’s to mass outlets like Walmart and pure play companies like Overstock—were part of our tracking and analysis. Overall, Amazon Prime members made far more visits and spent significantly more time using digital shopping resources than did non-Prime members. Total shopping visits were roughly 50 more per shopper than non-members and time spent shopping online by Prime members exceeded that of non-members by about six hours per person during the five-month period. Prime membership drove twice the number of visits to Amazon versus non-Prime members.

    App preferences for Prime and non-Prime shoppers

    While Amazon is the most used shopping touchpoint even among non-Prime members, there is a distinct difference in their preferences for apps versus mobile websites. During the five-month period, 91% of Amazon Prime members engaged with Amazon via its mobile site, compared with 77% of non-Prime shoppers. Just 55% of Prime members and 30% of non-members used the Amazon app.

    But despite this disparity, apps drove more repeat usage of and longer engagement with online shopping venues than mobile sites. And both Prime and non-Prime consumers showed a willingness to explore retail app options in categories like Pure Play and Mass.

    Prime members like to shop all over

    Prime members demonstrated an inclination towards online shopping, visiting Pure Play outlets twice as often as non-Prime members and being more likely to access grocery sellers online. One area where Prime and non-prime members were pretty much in sync is in their use of coupons and deals. Their top choices were Groupon (32% of Prime members, 32% of non-Prime), RetailMeNot (20% and 16%), Coupons.com (17% and 19%), Ebates (10% and 8%) and Ibotta (8% and 9%).

    The behavior of Prime members during November and December is particularly noteworthy because they showed an increase in shopping time earlier than non-members. Prime members’ shopping activity at places other than Amazon spiked upward in the first week of November, reaching a peak at the end of the month. Prime members did not show an increase in weekly shopping minutes on Amazon until the week of Thanksgiving when deals are traditionally offered.

    Conclusion

    Retailers should not shy away from Amazon Prime members. They’re very active at all sorts of online retail options and are open to various online shopping experiences. To compete with this highly evolved e-retailer you must elevate your app experience because it’s a great way to generate deeper and longer engagement. And start your holiday deals early. Prime members are in the forefront of seeking out the best merchandise and deals.

    Christina Pate is a Senior Research Director at GfK. Please email christina.pate@gfk.com or leave a comment below to share your thoughts.

     

     

     

     

     

     

     

     

     

     

     

     

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    • 06/01/17
    • Retail
    • Trends and Forecasting
    • Global
    • English

    The big, hairy, new luxury mindset and the opportunities it offers brands

    Being a 23 year old male, less than two years removed from undergrad, I’m still getting used to this whole “adulting” thing. My spending habits to start my professional career were sub-par at best – luckily I had the ability to live with my parents for a while. Now being off on my own, wanting nicer things can really challenge my wallet. Yet I still find my peers and I can find ways to indulge on the finer things in life whether it be travel, fashion, or daily aspects of our lives like personal grooming and coffee breaks.

    Putting luxury within consumers’ reach

    As we’ve recently noticed, consumer confidence is up, employment is up, and median household incomes have reached pre-recession levels. This gives us a little more room to be a bit more liberal with our spending, making what’s typically considered a “luxury” closer to our reach. GfK Consumer Life’s research shows that one in three Americans believe “now is a good time to buy.”  This sentiment is up 14 points from 2011, and continues to trend upwards.

    Here’s a question for you readers: how many 22-23 year old men does it take to plan a New Year’s trip to New Orleans?

    Answer: TEN.

    Planning this adventure was no small feat, as limited disposable income put us at a crossroads. We had our location, but even the cheapest hotel near the French Quarter was going to run us each at least an arm, a leg, and doubling our student loans.

    We had heard about AirBnB from friends, but never really looked into it before – yet it turned out to be the perfect fit. Staying in a New Orleans home gave us the ability to experience the city, rather than just visit. It comes as no surprise that our research increasingly shows that experiences are more important than possessions for Americans – especially among millennials. We valued this alternative option, and saw this as a luxury accommodation for our New Year’s voyage.

    Making luxury accessible across industries

    This taste for luxury is seen in more ways than just travel. Recent research from GfK Consumer Life shows that half of Americans daydream about being rich (the #2 thing Americans daydream about, #1 among <$50k HHI).  Many of us aspire for luxuries before our incomes can sustain it – so we have to get creative. I see many of my peers using services like Rent the Runway to get at least a taste of this luxurious feeling.  Paying student loans while saving money doesn’t give a recent college grad much disposable income to work with, but renting a designer dress is both sensible and a way to treat oneself.

    Brands offering products that connote premium or luxury can learn from this when seeking loyalty in their future customers.  The sharing economy gives us a feeling of being wealthy before our income catches up to our dreams, which aligns with GfK Consumer Life insights that 21 percent of Millennials associate the sharing economy with ‘giving you access to luxury goods that you normally could not afford’ (+4 pts from total Americans).

    Finding other opportunities that allow consumers to indulge

    Men’s grooming is another hot luxury opportunity. Growing up I never imagined spending as much time as I do grooming, but for the past ten months I’ve committed to growing a beard for the first time ever. I’ve even going as far as purchasing beard oils and creams to soften the hairs and make it look neater. Through beard blogs (yes, they exist!) and how-to videos, I successfully grew a full beard, and continue to browse different products and reviews to keep it around.

    When looking at the hard data, I find that I’m not alone! GfK Consumer Life’s research shows that men ages 18-34 are most likely to prefer to buy luxury brands of beauty/grooming products, at 57% (+17 pts from total US consumers, +8 pts from 18-34 women). Hordes of men are dishing out extra money for grooming to fit the mold; the opportunity to capture these men cannot be ignored.

    What about the consumer that doesn’t travel, shop, or meticulously groom each day? Well sometimes, we all just need to indulge in something for ourselves.

    More than one in three Americans strongly agree that it is important to indulge or pamper themselves on a regular basis (+6 pts from 2011). This trend is being capitalized on by people like ex-Starbucks CEO Howard Schultz, who has shifted his focus on building his Roastery & Reserve premium portfolio with $12 cups of coffee. This turns a consumer’s typical coffee break into “a multisensory coffee experience” while enjoying a unique food menu and coffee brewed in different ways.

    Conclusion

    Americans have more money and confidence than they’ve had in years, and are willing to spend on luxury, even if the investment is minimal. Younger generations want this premiumization too – but in different ways. The sharing economy and smaller yet premium indulgences offer brands across industries to offer products and services in new, exciting ways.

    Brett Willman is an Associate on the Consumer Life team at GfK. He can be reached at brett.willman@gfk.com.

     

     

     

     

     

     

     

     

     

     

     

     

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    • 05/30/17
    • Retail
    • Promotion and Causal Retail
    • Global
    • English

    Step this way to find out if you’re getting your fair share of manufacturer investment

    As a retailer, you are to manufacturers what Ginger Rogers was to Fred Astaire: a principal partner. That’s why they invest with you to help promote their products across your channels – online, in-store and in print. But how can you be sure that you are perfectly in step with each other, and you’re receiving a fair share of their trade marketing budget for the activities you execute for them?

    Intelligence you can leverage in conversations with manufacturers

    Let’s assume, for example, that you sell 20% of all smart TVs in a market. So, in theory, you should be able to command a proportion of the biggest TV manufacturer’s trade marketing budget for its new model that’s relative to your share of the market.

    From a manufacturer’s point of view, however, they will be looking not only at the retailer with the greatest share of sales now, but also the one with the most potential to gain market share in the future. If they can see that a particular retailer has made gains and the indications are that they will continue to do so, they could move the lion’s share of their trade marketing budget to this contender.

    But this is only part of a manufacturer’s consideration set. They also want to know that their campaigns are being executed as agreed with their retail partners. So, if you know how you are performing when it comes to delivering different campaign elements across channels, and how this compares to your key competitors’ performance, you will be in a stronger position at the negotiating table with manufacturers. This information combined with your sales data provides you with intelligence that you can leverage in conversations with manufacturers about their level of investment with you.

    Determining the level of investment you should be able to command from manufacturers

    We can help you track how retailers are promoting products and their selling points on their websites, in-store, at the point of sale and in their advertising. Based on this information and your sales figures, we can conduct a fair share analysis to determine what level of investment you should be able to command from manufacturers. If you are delivering the agreed trade marketing campaign, our data will show this. It will also provide evidence of which elements of the campaign work and which don’t, as well as what promotions your competitors are running. This level of transparency relieves tensions on both sides, and ensures that you and your manufacturer partners are in perfect harmony when making your agreements.

    Contact me at Karsten.holdorf@gfk.com to find out how we can help you to get your fair share of your partners’ promotional investments.

     

     

     

     

     

     

     

     

     

     

     

     

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  • Smart major domestic appliances are connecting with households globally
    • 05/29/17
    • Retail
    • Technology
    • Point of Sales Tracking
    • Connected car
    • Global
    • English

    Smart major domestic appliances are connecting with households globally

    Smart connected major domestic appliances (MDA) like washing machines, dishwashers and tumble dryers are winning over Connected Consumers globally. Discover more about sales of smart MDA with our infographic.

  • Smart major domestic appliances are connecting with households globally
    • 05/29/17
    • Retail
    • Technology
    • Point of Sales Tracking
    • Connected car
    • Singapore
    • English

    Smart major domestic appliances are connecting with households globally

    Smart connected major domestic appliances (MDA) like washing machines, dishwashers and tumble dryers are winning over Connected Consumers globally. Discover more about sales of smart MDA with our infographic.

    • 05/23/17
    • Retail
    • Promotion and Causal Retail
    • Global
    • English

    Track the execution of launch campaigns to ensure they achieve lift off

    As a manufacturer, you’ll know that the launch phase of a new product is absolutely critical. As our recent POS Analytics study in Japan shows, product life cycles can be short. As much as 90% of the overall sales of mobile PCs and smartphones in this market are delivered in less than 10 months of their launch1. You have just a small window of opportunity to make sure your product secures its target share of market and sales against the competition. You will therefore invest heavily in a sophisticated launch campaign with key retail partners to promote your product. But how can you be sure your trade marketing campaigns are being executed as agreed?

    Monitor key retail partners’ performance to get the maximum ROI

    Let’s look at the major smartphone manufacturers. Three have recently launched new generation flagship models. They will want to know how the launch promotions they have designed and agreed with their various retailer partners are being implemented. Is their product achieving maximum visibility across retailers’ channels? Are they using the right video online? How is the product positioned in-store? How is it featured in their seasonal TV advertising?

    Often trade marketing campaigns focus on promoting a particular technical feature or benefit, like an infinity screen, or a sophisticated camera that can take high-end pictures for posting on social media. If you are running a feature-led campaign, you will want to ensure that retailers are promoting the relevant selling point to consumers across touchpoints.

    Determine how retailers are implementing the campaigns you’ve devised for them

    You should monitor online, in-store and print advertising to determine how retailers are implementing the campaigns you’ve devised for them. You will know if your product features prominently in their advertising and promotional materials at the point of sale, if it is reachable within five clicks on their website and whether it appears in one of the “golden locations” (i.e. the front entrance of end of aisle, etc.) in their stores. Similarly, you can monitor the execution of your competitor’s campaigns.

    By combining intelligence on the execution of different elements of your trade campaigns by retailers and their sales data, you can determine the success of your campaigns. More importantly, you can align your efforts and investment – in different channels, campaign elements and retail partners – with your results. This level of transparency about your campaigns and retail partners’ performance is invaluable when it comes to agreeing campaigns and your level of investment with retailers.

    Contact me at Karsten.holdorf@gfk.com to find out how we can help you to optimize your trade promotion management.

    1 Our recent GfK POS Analytics studies of durable goods in Asia provide evidence of increasingly short product life cycles. In Japan, for example, 90% of the overall sales of mobile PCs and smartphones are achieved in less than 10 months. However, selling the last 10% of these products takes longer than the entire time needed to sell the first 90%, despite the best price incentives being employed for the final 10%.

     

     

     

     

     

     

     

     

     

     

     

     

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  • Maximize your media effectiveness and investment with our five-step program
    • 05/23/17
    • Retail
    • Technology
    • Point of Sales Analytics
    • Global
    • English

    Maximize your media effectiveness and investment with our five-step program

    In our interactive white paper, we share our five-step program for maximizing your media effectiveness and achieving more for your marketing budget. 

  • The revolution: Dads of today and tomorrow
    • 05/22/17
    • Home Appliances
    • Financial Services
    • Consumer Health
    • Media and Entertainment
    • Retail
    • Technology
    • Automotive
    • Consumer Goods
    • FMCG
    • Home and Living
    • Trends and Forecasting
    • Consumer Life
    • GfK-MRI
    • United States
    • English

    The revolution: Dads of today and tomorrow

    In Part 2 of this GfK webinar series, you will learn about how macro-drivers and marketplace trends are impacting dads – new insights to inspire your thinking around product/service innovation, branding, and shopper trends.

  • Putting your performance in perspective: GfK Consumer Wallet
    • 05/16/17
    • Retail
    • Technology
    • Consumer Goods
    • FMCG
    • Consumer Panels
    • Sweden
    • English

    Putting your performance in perspective: GfK Consumer Wallet

    Understand and meet the evolving needs of your customers is key to connect and create a loyal relationship with them. Consumer Wallet will give you the opportunity to track your business performance as well as your competitors over time, you'll be able to identify and understand the growth drivers like number of customers, how often they buy or the average purchase value.#

  • What’s happening with prices in consumer durables?
    • 05/12/17
    • Retail
    • Point of Sales Tracking
    • United Kingdom
    • English

    What’s happening with prices in consumer durables?

    How much a product costs is an important factor; not just for consumers but also for retailers. For the consumer this doesn’t simply mean that cheapest is always the best option, but price is an important part of most buying decisions.

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