Business It All Adds Up
GDA Staff -- Gifts and Dec, 8/6/2011 5:59:09 AM
HOW WE SHOP
57 % | of men claim to always or almost always do research before making purchases, according to Jacobs Media.
36 % | of pet owners buy birthday presents for their pets, says Harris Interactive. (70% of adults ages 35-46 own pets.)
27 % | of online shoppers will only buy if they can get free shipping, reports Steelhouse.
300 % | Hispanic women spend almost three times as much per month on skincare products as women overall do, finds Macy's.
The State of Retail
According to a recently released census bureau report,
• In 2009, businesses with paid employees numbered 7.4 million, a decline of 168,000 from 2008.
• Between 2008 and 2009, employment dropped 5.3%, a decrease of more than 6 million employees.
• Retail trade was the sector with the largest number of establishments: 1,076,645.
• Retail employed 14,802,767 people and paid them $355,492,525,000, an average of about $24,000 each.
Made in America Counts with Customers
Even for big ticket items. according to telescope casual furniture's national shopper survey, conducted by WSL Strategic Retail, 62% of U.S. shoppers believe buying American made products helps support the domestic economy and jobs; 52% say buying American makes them feel good. And they're putting their money where their heart is: Made in America ranks fourth in factors rated extremely important when buying outdoor furniture, named so by 37% of respondents.
$69 Billion in discretionary
spending. That's how much millennials will spend this year; up 10% from 2009. Total millennial spending rose 13% to $306 billion, according to CampusAuction.com.
• Tweens spend $43 billion annually, about $2,047 per tween, according to Research and Markets.
• 84% of young people surveyed by Buzz Marketing Group claim to shop online regularly.
• 61% of teens hear about new products online, while 15% still hear about them from friends, according to Buzz Marketing Group's annual Teen Study).
• 99% of teens have a Facebook page, according to Buzz Marketing Group's Study "What Teens Want."
Reviews Matter
> 60% of Shoppers rated online reviews more important than in-store employees, traditional media and social networking, says a Cisco study. 51% of shoppers said consumer-written online reviews are influential towards purchasing a product.
> 55% Of retailers believe shoppers are better connected to information than store associates, according to a Deloitte study.
> Not just one: 39% of consumers read eight or more reviews, up from 22% in 2007, according to Motorola.
> 50% Say a lack of reviews degrades their trust in a product; 38% say a lack of negative reviews degrades their trust, according to an e-tailing group/PowerReviews study.
> They're writing, not just reading: 41% are more likely to share negative product experiencees online via Twitter or by writing a review, according to a Nielsen study.
> They change their minds 33% who'd posted negative reviews about companies on review or social networking sites posted positive reviews after being contacted by the companies, according to RightNow.
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