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  • GfK’s FutureBuy® study records major leaps in US mobile shopping
    • 11/12/18
    • Financial Services
    • Retail
    • Technology
    • Consumer Goods
    • Shopper
    • Future of Retail
    • United States
    • English

    GfK’s FutureBuy® study records major leaps in US mobile shopping

    Just-released 2018 GfK research shows that 45% of all US consumers believe that their smartphones and/or tablets are “quickly becoming [their] most important” shopping tools.

  • In hackathon competition, students get hands-on experience with data integration, activation
    • 10/15/18
    • Media and Entertainment
    • Retail
    • Technology
    • Automotive
    • Consumer Goods
    • Media Measurement
    • Shopper
    • Trends and Forecasting
    • United States
    • English

    In hackathon competition, students get hands-on experience with data integration, activation

    GfK has relaunched its NextGen Competition for undergraduates, challenging them to extract insights from a variety of raw data sets during a 10-day hackathon.

  • At TMRE 2018, GfK will focus on brands, advertising impact, and in-market testing
    • 10/11/18
    • Technology
    • Consumer Goods
    • Shopper
    • United States
    • English

    At TMRE 2018, GfK will focus on brands, advertising impact, and in-market testing

    At one of the premier events for thought leaders in consumer insights, GfK experts will play key roles in all three days of the agenda, including co-presentations with Ferrero and Microsoft.

  • What drives price movements of tech devices?
    • 08/20/18
    • Technology
    • Online Pricing Intelligence
    • Trends and Forecasting
    • Global
    • English

    What drives price movements of tech devices?

    It is a common assumption among consumers that the retail price of flagship tech devices and features will gradually drop over time. Moreover, it is often assumed that the release of new models accelerates the price decline for the, now obsolete, previous models.

    That means consumers often think it is better to wait a couple of months before buying the latest tech device. But how much is price affected? We looked at a huge range of online pricing over time, to answer this question.

    How far do the prices of tech devices and features really fall, over time?

    The worldwide TV market recently saw the introduction of exciting new display technologies, such as OLED and QLED. Looking at the average price of three 55 inch OLED/QLED TVs (Samsung, LG, Panasonic), we see that the average online price has fallen by 34% between October 2017 and July 2018.

    Other consumer electronics categories show similar trends, but to lesser extents. For example, the online retail price of a laptop featuring a Core i7 processor has fallen 8%, on average, since the beginning of the year. Similarly, the average price of a smart watch has fallen 6% year-on-year (YoY) to August 2018.

    Overall, there is a considerable degree of variation between different products, reflecting their peculiar product characteristics and strategies, but data suggests a general downward trend over time for ageing technology features.

    Do new model releases accelerate price declines for older models?

    Sim-free smartphones offer a great case study in this area. So, let’s look at the impact that the release of two flagship devices (Galaxy S9 and iPhone 8) had on the average online prices of previous models (Galaxy S8 and iPhone 7).

    The release of Samsung’s Galaxy S9 in March 2018 seems to have had a noticeable influence on the price of the Galaxy S8, which decreased 14% in the following 5 months. A similar, albeit weaker, dynamic applies to Apple. The iPhone 8 release in September 2017 induced a decline in the price of an iPhone 7 of 6% in the following 5 months.

    It is worth noting that the average online retail price of the Galaxy S8 and iPhone 7 does follows a long-term decline trend (the iPhone7 lost 7% and the Galaxy S8 lost 15% YoY, compared to July 2018 prices), but it seems clear that the release of new models certainly had an influence on price movements.

    However, this is only half of the story…

    The price variations we tracked during the considered period highlight a key contrast between the approaches of the two brands.

    Samsung’s device is subject to higher seasonal fluctuations, while Apple focuses on limited price variations in key periods (e.g. Black Friday). This shows that, although there is a long-term price trend in place, brand strategies and retail promotions can have a big influence on average prices and drive considerable discounts.

    This dynamic is even more apparent if we overlay the average online retail price and the lowest online retail price. We can see from the chart below how promotional prices can cut deep under average prices and anticipate the price decline trend by many months. For example, Galaxy S8’ lowest price touched £550 in November 2017, 6 months before the average price reached the same level.

    Conclusions

    The assumption is true, that there is a general trend of price decline over time key tech devices, which is influenced by the faster release of new and upgraded models. However, long-term price movements are also heavily influenced by brand strategies and retail promotions, which can drive deeper price cuts across a shorter amount of time.

    This has important implications for both consumers and marketers:

    For a consumer wanting to buy the latest technology or a newer model, looking out for key promotional periods is a better strategy than waiting for the price to drop over time.

    For Retailers and manufacturers bringing new technology and new ranges to market, the key lies in understanding consumers’ expectation that prices of older models will fall, and their consequent spending behaviour, based on that belief.

  • GfK MRI, Acxiom partner to bring unmatched quality to audience activation
    • 06/05/18
    • Media and Entertainment
    • Technology
    • Media Measurement
    • GfK-MRI
    • United States
    • English

    GfK MRI, Acxiom partner to bring unmatched quality to audience activation

    GfK MRI and Acxiom® have joined forces to develop MRI Predictive Audiences Powered by AcxiomTM –- an end-to-end, privacy-conscious solution for omnichannel marketing planning and execution.

  • GfK hires RealityMine co-founder to lead Data Assets team in North America
    • 05/23/18
    • Consumer Panels
    • Point of Sales Tracking
    • Point of Sales Analytics
    • United States
    • English

    GfK hires RealityMine co-founder to lead Data Assets team in North America

    Signaling its growing emphasis on collecting and leveraging data from many sources, GfK has named Rolfe Swinton as its first Director of Data Assets in North America.

  • Belgian ecommerce hits new milestone of € 10 billion turnover in 2017
    • 03/22/18
    • Retail
    • Shopper
    • Belgium
    • English

    Belgian ecommerce hits new milestone of € 10 billion turnover in 2017

    In 2017, 8.4 million Belgian consumers shopped online at least once, representing 87 million purchases and spending € 10.05 billion. 

  • One-third of US consumers own two or more smart home devices
    • 03/20/18
    • Media and Entertainment
    • Technology
    • Media Measurement
    • Trends and Forecasting
    • Smart Home
    • United States
    • English

    One-third of US consumers own two or more smart home devices

    New GfK research shows that nearly six-in-ten (58%) of US consumers say Smart Home technology is likely to change their lives in the next few years.

  • What are the future tools of market research and how they can help you?
    • 01/10/18
    • Fashion and Lifestyle
    • Financial Services
    • Retail
    • Technology
    • Automotive
    • Consumer Goods
    • FMCG
    • Home and Living
    • United Kingdom
    • English

    What are the future tools of market research and how they can help you?

    Traditional market research is dying. The future of research involves constant testing and developing research approaches using tools such as voice and text analysis, artificial intelligence (AI) and behavioural economics, to name a few. Read all about the future of market research in our Future of Research series!

  • Bert Hendrickx will present at Webtomorrow on June 8th 2017
    • 05/15/17
    • Belgium
    • English

    Bert Hendrickx will present at Webtomorrow on June 8th 2017

    This year, our very own Bert Hendrickx, Digital Lead at GfK Belgium, will be on stage at Webtomorrow on June 8th 2017.

  • Omni-channel shopping supports e-commerce growth in Belgium
    • 05/11/17
    • Belgium
    • English

    Omni-channel shopping supports e-commerce growth in Belgium

    Belgian e-commerce was worth 9.1 billion euros in 2016, spent by consumers on online purchases. However, the role of online touchpoints is larger than that of just a purchase channel: many customers look up information online before committing to a purchase, compare prices or are being exposed to online adverts.

  • Boosting a distributor’s competitive advantage in ecommerce
    • 04/20/17
    • Retail
    • Global
    • English

    Boosting a distributor’s competitive advantage in ecommerce

    Our product data and ecommerce technology solutions empower S.P. Richards’ dealers to increase their online sales.

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