Möchten Sie zur deutschen Seite wechseln?JaNeina
Close
X
Share this page

Insights

Industries
Solutions
Content type
Country
Sort
clear all filters
  • The sales tracking solution trusted by major industry players
    • 02/11/20
    • Retail
    • Technology
    • Point of Sales Tracking
    • Global
    • English

    The sales tracking solution trusted by major industry players

    Our Point of Sales (POS) Tracking helps you measure your market share and brand performance and benchmark it against your competition. We have built the world’s largest retail panel, and track products and deliver insights based on actual sales. Watch our video and find out more…

  • Peak season sales 2019: Retail lessons learned
    • 02/06/20
    • Retail
    • Technology
    • Consumer Goods
    • Point of Sales Tracking
    • Trends and Forecasting
    • TEMAX
    • Global
    • English

    Peak season sales 2019: Retail lessons learned

    It’s not a surprise – for many retailers, their Christmas season performance is the decisive factor for the entire year’s financial success. This is particularly true for those selling tech and durable goods. While peak season sales embrace Black Friday, Cyber week, Christmas week and post-Christmas promotions, it’s increasingly difficult for retailers to set the right priorities for each of these events. To do so, they need the best intelligence on what is selling and when.

    Each peak season is different

    When it comes to Black Friday, Cyber week, Christmas week and post-Christmas sales, retailers need to know that each peak season is different. They must react to different consumer expectations and demands to succeed in the peak season sales. First, the size of the business opportunity must be considered. The fact that Black Friday week and the following week after it are responsible for more than double the revenue of an average week indicates where to focus most energy. Combined with a 16% growth compared to 2018, this sub-season is most crucial for securing revenues and margins.

     

    The Christmas weeks (week 50 and 51) may have fallen behind Black Friday/Cyber week, but they still generate 45% more revenue than a usual week. However, relevance appears to be declining over time, for instance, in 2019 turnover was slightly below that posted in 2018.

    The post-Christmas season (weeks 52 to 02) is different again. Here we see a 12% uplift versus an average week, with growth in 2019 amounting to almost 10% compared to 2018. Vouchers and gift cards – as well as having the time to shop – are key drivers of consumer demand during this time of the year.

    The center of gravity keeps shifting to the Black Friday weeks, particularly for big-ticket item purchases. Every fifth Euro of the year is spent within these seven weeks of the peak trading season. Or put another way, the season’s performance is about 50% higher than that of an average retail week.

    When is the best time to promote a product?

    Consumer purchase behavior captured in GfK’s weekly Point of sales Tracking for tech and durables tells the story of what to promote and when it during the peak season sales weeks:

     

    •  Black Friday/Cyber Monday: Consumer Electronics (CE) are the star. Big-ticket items such as TVs soar in Brazil, Spain and Italy. Audio devices contribute strongly to the uplift in categories such as Small Domestic Appliances (SDA). Consumers are increasingly seeking out premium segment purchases, with a focus on entertainment categories including PTV and Audio. Overall, attractive discounts are the trigger to save the most Euros in absolute terms.

    •  Christmas: SDAs, Photo and IT product categories reveal the highest momentum. Printers, hairstyling tools and coffee machines are key movers in the final weeks of the year. The real gifting season peaks now. Smaller ticket items sell well, with a focus on traditional shops rather than online retail. Products to place as gifts under the tree are key.

       

    •  Post-Christmas: Here we see a shift back to CE, namely audio devices. Also, SDAs are more in demand this season. Price promotions pick up again and a more normal mix of assortment is in demand. E.g. Major Domestic Appliances see relative strong demand compared to the Christmas weeks. SDA and CE categories maintain their seasonal strength. 

    How do you protect sales margins?

    Looking at the level of discounts granted, the pressure on margins can be massive. But not playing along is not an option at all – consumer expectations for seasonal promotions become stronger every year and is a major trigger driving demand. The only option to secure peak season sales performance is to listen to consumer needs and behaviors to look out for opportunities. We break it down to three main takeaways:

    1. Less complexity: This is the new consumer mantra. According to our latest FutureBuy study, 62% of global tech and durables shoppers complain about too much choice. This hampers decision-making. Instead, we recommend promoting fewer hero products that deliver performance and simplification.

    2. Clear communication: Alerted by media reports questioning the validity of seasonal promotion deals in previous years, consumers are increasingly skeptical about sales, discounts and promotions. It’s important that they are assured that price drops are genuine and that they see Black Friday and other seasonal price drops as offering a real benefit to them.

    3. Premiumization: Owning fewer but higher quality products is a clear and significant trend, especially during Black Friday week. Offering product segments one or two levels above the standard segments yields revenue potential, despite discounts to be granted. That’s why in 2019, average prices rose to a new peak compared to 2018 – at more than 40% above an average week. We saw this in the success of OLED and >50-inch TVs, and headphones/headsets, where prices rose by more than 50% on average Demand was strong for high-performance notebooks for gaming, and with ultra-thin designs, as well as true wireless in-ear Bluetooth headphones. Similar trading-up patterns were visible in the Telecom and Domestic Appliances markets. Ultimately, this ensures interest and traffic, and supports consumers’ aspirations.

    How will peak season sales look like in 2020?

    The year-end peak sales season has undergone a major shift over the past years with Black Friday dominating the promotional calendar as the game-changer. As this trend grows, markets have become more predictable as sales dynamics repeat themselves. Different sub-seasonal focus areas have established themselves in most European countries, as well as in markets such as Brazil. Knowing the details on a country and product level will support profitable decision making for the peak season sales in 2020.

  • Key take-aways from the year-end peak trading season
    • 02/06/20
    • Retail
    • Technology
    • Point of Sales Tracking
    • Global
    • English

    Key take-aways from the year-end peak trading season

    Black Friday is now the biggest sales event in the retail year in many key markets. GfK’s retail expert Michael McLaughlin explains how the end-of-year peak trading season changed and what this means for your promotional tactics and planning. Watch our video.

  • Infographic: Black Friday and Christmas Sales
    • 02/05/20
    • Retail
    • Technology
    • Point of Sales Tracking
    • Global
    • English

    Infographic: Black Friday and Christmas Sales

    One fifth of annual sales are made during the “peak retail weeks” between end November to mid-January. For more facts download our infographic.

  • German consumer optimism is returning
    • 01/29/20
    • Press
    • Global
    • English

    German consumer optimism is returning

    These are the results of the GfK consumer climate study Germany for January 2020.

  • Map of the Month: GfK Purchasing Power, Germany 2020
    • 01/27/20
    • Fashion and Lifestyle
    • Financial Services
    • Industrial Goods
    • Media and Entertainment
    • Retail
    • Technology
    • Travel and Hospitality
    • Automotive
    • Consumer Goods
    • Energy
    • Geomarketing
    • Geodata
    • Global
    • English

    Map of the Month: GfK Purchasing Power, Germany 2020

    GfK's Map of the Month for January shows the projected distribution of purchasing power in Germany in 2020.

  • Germans’ per capita purchasing power amounts to €23,766 in 2020
    • 01/22/20
    • Press
    • Global
    • English

    Germans’ per capita purchasing power amounts to €23,766 in 2020

    Germans have an average per capita purchasing power of €23,766 in 2020 according to GfK’s latest purchasing power study. 

  • The global market for technical consumer goods looks optimistic for 2020*
    • 01/03/20
    • Press
    • Global
    • English

    The global market for technical consumer goods looks optimistic for 2020*

    These are GfK findings to coincide with CES 2020 in Las Vegas. 

  • German consumers remain in spending mood
    • 12/20/19
    • Press
    • Global
    • English

    German consumers remain in spending mood

    These are the findings of the GfK Consumer Climate Study Germany for December 2019.

  • Smart car technology and the generational divide
    • 12/12/19
    • Technology
    • Automotive
    • Global
    • English

    Smart car technology and the generational divide

    With every passing year, smart car technology becomes more of a deal-breaker with consumers. From safety features to voice technology, the options get more compelling – and non-vehicle digital tech keeps elevating car buyers’ expectations. If they can have it at their desks or on their couches, why should they expect less for their vehicles?

    A generational chasm over smart car tech

    In GfK’s latest Auto Tech Insights research for the US market, 8 in 10 US auto intenders – those who plan to buy or lease a new vehicle – say they would “probably” or “definitely” consider abandoning a favorite vehicle or automaker to get the latest smart car technology. The figures are startling, but we should not be surprised. Brand loyalty has its limits, and a lot depends on what is at stake – dollar savings, or self-image, or even pure whim and indulgence.

    Smart technology has altered the consumer landscape. Ten years ago, who knew that everyday shoppers would soon pay $1,000 for a new phone, or hundreds of dollars a month just for TV and internet service? Always-on access and the devices that go with it have come to define us as consumers – even more, some would say, than the cars we drive or the clothes we wear.

    This is true not just in the US, but around the world, where we see that technology performance is a driver of the rich experiences consumers crave. Global Point of Sale (POS) data from GfK shows that smartphones with large (6” to 7”) displays captured 73% of all category sales in the first three quarters of 2019, while PCs with full HD accounted for 79% of sales in that vertical. And GfK Consumer Life research shows that almost half of global consumers say they are prepared to pay more for products that make life easier. It is not surprising that GfK would want to extend these “premium” tech perks to their cars.

     

    In the US, though, one of the most striking findings about auto intenders and tech obsession is the remarkable chasm we see between the youngest and oldest car buyers. Willingness to abandon established brands in favor of smart car technology is strongest among young intenders; close to 4 in 10 from Gen Y (ages 23 to 41) say they would definitely consider a brand switch. Close to half (47%) among Gen Z (ages 18 to 22) would change their minds based on tech features.

    On the other side of the age spectrum, though, just 15% of US Baby Boomers (ages 54 and above) would consider defecting from a beloved brand to get connected technology or digital safety features in their cars. Younger auto intenders are also much more likely to say that they have already made a car purchase that was influenced by smart tech availability. Overall, four in ten (44%) intenders reported this effect – but gaps of 20 to 25 percentage points separated Gens Y and Z from the Boomers and Gen X. For example, 59% of Gen Y said they had already been influenced, compared to just 33% of Boomers.

     

    Among those who had defected to get smart devices and services, the technologies responsible were slightly different across the generations. Baby Boomers and Gen X were more likely to switch brands for the sake of Infotainment Systems, and Gen Y was slightly less inclined to seek out Active Safety Technology – although safety features were still the biggest draw across the full population. The desire for Connected Vehicle tech was essentially even across the age groups.

    Gen Z would “love” to be driven

    Autonomous driving and electric vehicles are slowly winning acceptance, with one in six intenders seeing them as essential today. But younger intenders are more likely to say they are “curious” about electric or hybrid vehicles, and the generational differences get even wider when it comes to reporting they would “love it if vehicles could just drive themselves” – with 52% of Gen Z agreeing fully or somewhat, versus just 19% of Boomers.

    The implications of this remarkable age divide are nothing less than transformational for automakers. As much as they may know that digital technology is the game that matters most, it seems as if they simply cannot put too much emphasis on these emerging essentials, especially safety, connected, and infotainment capabilities. The next generations of car buyers will shift the argument even more in this direction, and automakers need to stay relevant at all costs. There are no laurels to rest on – just digital mountains to climb.

     

    Want to know more about the auto industry?

    hbspt.cta.load(2405078, 'e302ad55-b5be-4959-983e-a34bc537fba8', {});

  • New 2019 CRESTA zones offer universal standard for global risk management
    • 12/04/19
    • Financial Services
    • Geomarketing
    • Geodata
    • Digital Maps
    • Digital Maps
    • Global
    • English

    New 2019 CRESTA zones offer universal standard for global risk management

    GfK has released new 2019 CRESTA zones that give insurers, reinsurers, modelers, regulators and other industry professionals a common standard for analyzing, aggregating and exchanging risk-related insights.

  • What does the future of Millennials look like?
    • 12/04/19
    • Trends and Forecasting
    • Global
    • English

    What does the future of Millennials look like?

    As the oldest members of this oft-discussed group prepare to turn 40, the future of Millennials will have a significant impact on the global marketplace.

    Although they haven’t suffered from a lack of media attention in the past decade, Millennials are worth another look simply because of their significant impact on the future. For example, they are currently overtaking Baby Boomers as the largest adult generation and approaching their Boomer parents in their share of the US electorate heading into the 2020 Presidential election. And in the past few years, they surpassed Generation X as the largest generation in the workforce.

    Millennials may also be the first truly global generation. Technology has broken down geographic boundaries, and these young adults are the product of not just their native cultures, but the tumultuous time during which they came of age. A second look at Millennials uncovers three key lessons that will be essential for engaging with them meaningfully in the future.

    Future of Millennials as parents

    Millennials are now the focal points of families and leading households that look quite different than those headed by previous generations. For example, GfK Consumer Life research shows that Millennials today are about as likely to be parents, but less likely to be married, when compared with Gen Xers at the same age in 2003. With Millennials leading more non-traditional households (e.g., single parents, unmarried couples), messaging needs to evolve to encompass these different types of families.

     

    Even more interesting is the marked difference in the way that Millennial moms and dads approach parenting today. In contrast to the Boomer tendency to raise “latch-key kids,” and Gen X’s “helicopter” parenting approach, Millennials have their own unique take on the parent-child relationship. Research from GfK Consumer Life shows that they reject “over-scheduling” by reducing the amount of time their children spend on extracurricular activities, are more liberal when it comes to limits on a child’s technology and media exposure, and are eager to spend more time with their kids on a variety of activities, from video and board games to shopping and exercising. With less of a strict dividing line between parent and child preferences across categories like media, entertainment, and health, brands can rethink how their offerings are classified and marketed; they can also create more opportunities & platforms for parents and kids to interact.

    Financial future of Millennials

    Coming of age during the Great Recession left many Millennials with low incomes and record levels of student debt. In fact, the typical Millennial’s net worth is 40% lower than that of Gen Xers in 2001, and 20% below what Boomers experienced in 1989. What’s more, significant financial polarization exists within the Millennial group: income gaps by levels of education are significantly wider than those of previous generations, and the change in net worth among young adults over time has declined among unmarried Millennials while rising among those who are married. And while many did receive financial help from their parents during tough times, many Millennials actually have been playing the caregiver role with their own mothers and fathers. With many forecasting that a possible recession in 2020 will again hit Millennials the hardest, brands need to adapt pricing, marketing, and merchandising to reflect a challenging and more diverse economic reality.

    Financial stress is just one of the reasons that Millennials have come to be known as the “burnout generation.” This segment—particularly those who are also parents—tends to lead on many indicators of modern-day “hustle culture” tracked by GfK Consumer Life. For example, they are very likely to report high stress levels and more likely than average to admit that they work most weekends and are often so busy, they can’t finish everything they need to do in a day. They’re not “lazy,” they’re simply exhausted – and it’s likely that shaky job security and major financial commitments are partially driving this mindset.

    This tendency to “hustle” is not unique to Millennials in the US – members of this generation index higher than average on aspirational values such as social recognition and status across all regions of the world. But while Millennials tend to lead on many of these attitudes, they aren’t the only generation suffering from burnout; recent studies of Generation Z (the generation following Millennials) show record-high stress levels among this emerging segment as well.

    Fun is still a priority for the future

    Despite their stress – financial and otherwise – Millennials have not yet outgrown the focus that has long distinguished them from other cohorts: their desire to have a good time. GfK Consumer Life research finds that personal values such as enjoying life, excitement, and having fun are still prioritized more highly among this generation than older age groups.

     

    Millennials’ signature optimism hasn’t taken too hard of a hit, either: they report high levels of confidence about their own immediate futures, as well as the lives their children will lead as adults; this mindset is consistently higher than average on a global level as well as in the US. Further, Millennials are more likely than average to seek novelty and fun in everyday products. Appealing to Millennials’ pleasure-seeking tendencies, and giving them enjoyable outlets in their daily lives, will inspire brand loyalty.

    What can brands do in order to keep up with these shifts in Millennials?

    In just a few decades of life, Millennials have experienced significant social, political, and economic upheavals, many of which have had a long-lasting impact on their lifestyles today and prospects for the future. As they enter the “middle era” of their lives with different approaches than their predecessors, brands will be wise to understand that:

      • The economic instability that has defined, and will continue to impact, this generation gives brands the opportunity to offer health innovations to relieve Millennials of their financial stress
      • Millennial parents enjoy a closer bond with their children compared to their predecessors; communicate to the entire family, not just the parent or the child
      • The future of Millennials still needs to include fun – give them opportunities to enjoy life!

     

    Get updates on consumer trends & insights

    hbspt.cta.load(2405078, 'b7f8b3d4-af21-44d0-b4ad-92570670533c', {});