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Smart insights: Retail

The pace of change in the retail industry is driven by digital advancements: more touchpoints, more product reviews and comparisons for consumers to access anytime, anywhere. And more variety in the path to purchase of shoppers.

To stay competitive and relevant, retail businesses need to understand evolving shopping behaviors and target group demands. They need to apply this knowledge to create differentiated experiences across both digital and physical environments.

Our retail industry research experts provide the insights to support you at every stage: from measuring your shoppers’ experiences and paths to purchase, to monitoring retail performance and trends.

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Here you can find the latest insights for retail industry. View all insights

    • 12/05/16
    • Retail
    • Global
    • English

    Millennials: Are ‘digital natives’ more engaged with e-commerce?

    In a world increasingly active online, more and more questions arise to define the ‘digitally savvy’ population. We know Millennials, those reaching adulthood around the year 2000, have been born into a digital world, but are they more engaged with e-commerce brands? Using Millennials as a target group has been criticized, as marketers broadly categorize individuals at different life stages, with different interests and attitudes. However, this cohort of digital natives have already shown differentiating behavior in terms of social media usage, gaming and life priorities including health, marriage, having children or buying a house. For all the myths, Millennials are one of the largest consumer groups in history, they have an affinity with technology and are about to reach their prime working and spending years (Goldman Sachs).

    The E-commerce Elite

    Each year InternetRetailing UK releases a list of the top e-commerce and cross-channel retailers. We have taken the top 50 brands and added them to our GfK Crossmedia Visualizer platform to see how behavior varies among different age groups. When looking at the UK online population during the first half of 2016, reach is the highest among the over 45’s, particularly females. This questions the extent to which larger e-commerce and cross-channel retailers have moved their marketing focus towards the Millennial demographic, querying the untapped purchasing potential of this target group. However, although reach amongst Millennials is lower, when looking at the average duration of time spent on these sites those in the young Millennial age group (16-24) over-index significantly. This reflects that although larger retailers don’t reach as high a proportion of Millennials compared to other age groups, those they do reach are more engaged for a much longer duration. This higher level of engagement is particularly noticeable for retailers in the areas of Fashion, Personal Care/Cosmetics and Animals/Pets. Although young Millennials (16-24) spend more time visiting these sites, they do so less frequently. Younger Millennials therefore may seem difficult to reach, but with engaging content should stay on site for a much greater duration of time.

    So which retail sites have the greatest Millennial reach?

    No demographic group is homogeneous, yet we still find distinct differences for young Millennials compared to other age groups. When looking at the top 20 retail sites that over-index for a Millennial target group compared to the average reach for the total UK online population, sites related to Fashion and Education have much greater reach for young Millennials (16-24). Combined these industries account for 80% of the top 20 sites. In comparison, more mature Millennials (25-34) are attracted to a wider variety of e-commerce sites, visiting more general retailers including department stores and multi-content pure play brands. Mature Millennials also shop more for other people including children, engaged with sites relating to Mother/Baby and Toys. This pattern also follows for Millennial retail sites with the greatest level of engagement. Young Millennials are the only demographic where the top 20 sites in terms of engagement are mutually exclusive to all other age groups. This implies that Millennials are primarily engaged with brands that directly target their age cohort, including Topshop, Forever21 and Student Beans.

    Do Millennials need all or nothing?

    When looking at the top 20 e-commerce retailers with the greatest Millennial reach and engagement we have found that sites are directly targeted at this specific demographic. Therefore if retailers want to target Millennials they will generate significantly greater levels of engagement with relevant, targeted content. However, this is only the case for younger Millennials. We have found key differences in the e-commerce activity of young Millennials (16-24) and more mature Millennials (25-34). Younger Millennials spend a significantly greater amount of time per month visiting the top 50 retailers according to InternetRetailing UK. This is primarily due to Fashion, a key e-commerce industry appealing to young Millennials with brands providing targeted content. This demonstrates an opportunity for e-commerce brands to increase awareness and purchase intent, as the first digitally native demographic reaches its prime. Deep drills into the UK’s top e-commerce and cross-channel retailers is just a starting point when getting familiar with your audience’s cross-media and cross-device usage. The above case study on Millennial e-commerce behavior is fully based on data provided by the GfK Crossmedia Visualizer. This cutting edge tool offers up to date, clear and deep insights into all relevant indicators of online usage across different devices (PC, smartphone and tablet). Moreover the internet usage data from this platform is linked to unique users’ consumer profiles, including all relevant socio-demographic data and further profiling attributes such as media usage, TV consumption and lifestyle data. Amy Warwick is a digital senior research executive at GfK. For more information or to share your thoughts, please email amy.warwick@gfk.com.
    • 12/05/16
    • Retail
    • Technology
    • Consumer Goods
    • Global
    • English

    Remaster your trade marketing to create the perfect promotional tune

    Join our promotion and retail expert for our webinar on 15 December and discover how to remaster you below-the-line marketing activities to create the perfect promotional tune.
    • 12/02/16
    • Retail
    • Technology
    • Promotion and Causal Retail
    • Connected Consumer
    • Future of Retail
    • Global
    • English

    Promotions are particularly popular with young consumers

    Price comparison sites, product demos, coupons - which promotions appeal most to which age group? See for yourself with our infographic!
    • 11/29/16
    • Retail
    • Geomarketing
    • Geodata
    • Geo+RealEstate
    • Picture of the month
    • Global
    • English

    Map of the month: GfK Purchasing Power Europe 2016

    GfK's Map of the Month for November illustrates Europe's purchasing power density at the 2-digit postcode level. Purchasing power density refers to the purchasing power sum per square kilometer (source: "GfK Purchasing Power Europe 2016").
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  • Brand and Customer Experience (BaCE)

    Brand and Customer Experience (BaCE)

    Brands are under pressure to develop emotional connections and relationships with consumers and business decision makers.  Brands need to respond in-the-moment, to enrich the customer experience – and develop strategies that influence ”moments of truth” throughout individual brand journeys.  

  • Consumer Panels

    Consumer Panels

    Your business is all about your consumers. So understanding them is essential in ensuring your products and services meet their needs, and in identifying opportunities for growth.

    Our international consumer panel data and research expertise provide you with smart customer insights into who your consumers are, their attitudes and behaviors, across channels.

  • Digital Market Intelligence (DMI)

    Digital Market Intelligence (DMI)

    When consumers shop, search, communicate, gather information and engage with companies or brands online, they behave differently depending on which device or screen they are using. They expect a consistent experience regardless of the channel or device they are using.

  • Point of Sales Tracking

    Point of Sales Tracking

    Retailers and manufacturers are under pressure to develop products and services that maximize sales and profit and to keep customers coming back.

    Success relies on having the most up-to-date sales data, combined with robust analysis to understand which products and services are performing well in the market – and which are not. With this information, clients can set clear strategies for commercial growth and increase return on investment.

  • Shopper

    Shopper

    Digital continues to open up new paths to purchase, changing how and where people shop. More and more data becomes available every day, as shoppers embrace multi-channel brand experiences.

    To stay competitive in this big data, multi-channel environment, businesses need to identify and leverage the most relevant data along the entire path to purchase. With this, companies can optimize each step of the shopper journey. 

  • User Experience (UX)

    User Experience (UX)

    Our user experience (UX) research and design experts help our clients create and improve customer experiences for existing or new products and services

    Today’s consumer is bombarded with promises for compelling experiences. They are sophisticated and demanding.  To be successful, a new product or service needs to be intuitive, usable, engaging and desirable. The user experience needs to be emotional in order to be memorable.

  • Geomarketing

    Geomarketing

    Our geomarketing solutions and consultancy provide our clients with smart insights into location-specific factors that impact the success of business sites, shops, sales territories, target groups, as well as chain store and distribution networks.

  • Mystery Shopping

    Mystery Shopping

    Consumers face a complex array of brand touch points every day of their lives. To deliver a consistent brand experience, marketers need to know how consumers are actually experiencing their brand. Our mystery shoppers give you all the help you need to understand these experiences, and respond to them to maximize the return for your business.

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