Public Relations & Social Marketing Insight
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Public Relations & Social Marketing Insight
Social marketing, PR insight & thought leadership - from The PR Coach
Curated by Jeff Domansky
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Consumers' mindsets are shifting dramatically — and it's killing brands like Tiffany

Consumers' mindsets are shifting dramatically — and it's killing brands like Tiffany | Public Relations & Social Marketing Insight | Scoop.it

 At first glance, the weakness in luxury is puzzling because consumer confidence is high and Tiffany's customers still have discretionary income to spend.

But Yarbrough points out that people are increasingly spending on categories other than luxury retail. 

"People are still willing to spend on auto, and they're still willing to spend on their homes which are bigger-ticket items," he said.

"They're more interested in cars or homes or experiences," he said, pointing to movies and traveling as examples — not apparel.

An analysis by Jharonne Martis, director of consumer research for Thomson Reuters, confirmed that people were spending their money on hotels and casinos, too, Business Insider's Hayley Peterson reported earlier this month....

Jeff Domansky's insight:

Valuable look at consumer shopping trends and changes. Marketers take note

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79% of consumers have used reserve-and-collect in the past year

79% of consumers have used reserve-and-collect in the past year | Public Relations & Social Marketing Insight | Scoop.it

Almost two-thirds of consumers (63%) have bought products online before collecting them in-store at least once in the past 12 months, while 16% use reserve-and-collect at least once a month.


Overall around a fifth (22%) of consumers said they have never used the service, which is actually a very slight increase compared to 2012 when the figure stood at 20%.


Even so, the data highlights the continuing importance of reserve-and-collect services for multichannel retailers as a sales tool. The Multichannel Retail Survey, conducted using the Toluna survey tool, also found that 50% of respondents had abandoned a purchase online due to unsatisfactory delivery options....

Jeff Domansky's insight:

For retailers and small business, there is some fascinating insight into disruption in retail and what the future may look like.

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Is Bad Customer Service PR's Worst Enemy? Consumers Are Defecting From Brands in Growing Numbers

Is Bad Customer Service PR's Worst Enemy? Consumers Are Defecting From Brands in Growing Numbers | Public Relations & Social Marketing Insight | Scoop.it
In 2012, one in five consumers switched companies they buy from, including wireless phone, Internet service and retailers, according to new research released today by Accenture. This marks a five percent increase in switching over 2011 levels. 

 

However, the eighth annual Accenture Global Consumer Survey also found that the majority (85 percent) of consumers say the companies could have done something differently to prevent them from switching....

 

[Accenture report: Valuable insight into consumer purchase, online behavior & retention ~ Jeff]

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China Top 50 Brands - CMEX

China Top 50 Brands - CMEX | Public Relations & Social Marketing Insight | Scoop.it

Business leaders in much of world have sought for a long time to build local, regional and global brands that add significant value to their organizations. Today, in China, we see the same phenomena emerging as Chinese brands move from being local to regional to national and now to global entities.China’s people drive the change. Historically, the people of China generally have been savers rather than spenders. However, as the economy strengthens the Chinese are changing and causing the businesses they buy from to change too. Government policies and initiatives encourage the formerly conservative Chinese consumers to release some of their hard earned money and spend it on goods and services, driving GDP growth.


This slow but steady, and now very noticeable, transformation is affecting every business across China. Consumers are learning to buy more products and services for reasons other than price. They’re paying attention to brand....

Jeff Domansky's insight:

China Top 50 Brands is a fascinating look at evolving brand and consumer trends in China.

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This Chart Will Keep Cable Execs Up All Night

This Chart Will Keep Cable Execs Up All Night | Public Relations & Social Marketing Insight | Scoop.it

Americans are increasingly abandoning traditional television. In 2007, the number of "Zero-TV" households was around 2 million. It has since grown to more than 5 million, according to a recent Nielsen report. We first saw the news on Google Ventures Partner MG Siegler's personal blog.

 

Nielsen defines "Zero-TV" households as those that don't fit into its definition of a TV household. It doesn't mean that those households don't have traditional TV sets, but it's just that the majority of them get their content from computers, tablets, and smartphones. In short, it means they're not paying for cable.

 

But here's the real kicker: nearly half of these "Zero-TV" households are under the age of 35, marking a clear trend in our viewing habits. Anyway, look at this chart. It shows traditional TV households versus "Zero-TV" households broken down by age...

Jeff Domansky's insight:

Young Americans are flocking away from traditional TV, heralding big marketing implications. A must-read post on media trends for marketers.

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