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The Joy of Shopping: It’s All in the Mind - FITCH

The Joy of Shopping: It’s All in the Mind - FITCH

The art and science of selling clothes to bros The menswear community on Tumblr is positively bustling. In the last 30 days, more than 77,000 photos, text posts, and videos were posted with the #Menswear tag, according to Union Metrics. There are posts by Nick Wooster, a street-fashion icon; Fuck Yeah Menswear, which spawned a book; and even Menswear Dog, a Shiba Inu that dons a variety of well-put-together outfits, and who has garnered more than 60,000 followers on Instagram. Ten years ago most men, let alone dogs, wouldn't have been caught dead sporting an ascot It’s hard to pinpoint exactly when the spike in interest in men’s fashion occurred, but with that spike came a dozen new websites aiming to sell clothes to men — men who have traditionally been stubborn about shopping for clothing online. To Michael Preysman, it begins with the male psyche. He cites The Sartorialist, a blog documenting street fashions, as one of the pioneering places to catalyze the online menswear revolution back in 2005.

Study: Consumers Prefer Shopping in a Store, Not Online Good news for small retailers. Consumers of all ages still prefer physical stores to eCommerce shopping, according to a study by A.T. Kearney. In fact, brick-and-mortar retailing is not only the industry’s cornerstone today – but also its future the study predicts. Although eCommerce seems to get all the media attention these days, in reality, the Omnichannel Shopping Preferences Study notes, 90 percent of all U.S. retail sales still happen in stores. Opening a physical store, in fact, is becoming a hot trend for formerly eCommerce-only companies such as Warby Parker, Birchbox and Bonobos. “Stores provide consumers with a sensory experience that allows them to touch and feel products, immerse in brand experiences, and engage with sales associates who provide tips and reaffirm shopper enthusiasm for their new purchases.” Study Polled Consumers in Five Demographic Categories: TeensMillennialsGeneration XBaby BoomersSeniors And About Five Steps in the Shopping Journey: Discovery Trial/Testing

Understanding Grocery Shopper Values Sets Gold Standard for Customer Experience Across Industries, Says PwC US PwC’s “Experience Radar” Defines Five Behaviors Industry Leaders Can Learn from Grocers to Drive Exceptional Customer Experience NEW YORK, NY, December 19, 2012 – No experience happens as often, grabs share of wallet, and stimulates the senses more than grocery shopping, finds PwC US in a new report titled Experience Radar 2013: Lessons from the U.S. Grocery Industry. The study, which is one in a series of customer-centric reports, measures the experiences of about 6,000 U.S. consumers across multiple industries. Facing commoditization, grocery has turned to experience to grow their top lines and maintain margins, according to the report. “Today’s shopper has specific expectations and retailers must be ready to cater to the widest range of consumer preference and demands,” said Susan McPartlin, PwC’s U.S. retail & consumer sector leader. The report defines the five behaviors that companies can adopt to enhance customer experience and create value: PwC’s Experience Radar

How to Sell Clothes to Men: On the Rise of Menswear in Fashion Carson Street Clothiers, on the cobblestoned Crosby Street in Soho, Manhattan, is a welcoming den surrounded by luxury clothing boutiques—cold spaces with minimalist presentations of just a few dresses or a small clutch of handbags. The upscale men’s clothing store is less fashion mausoleum than messy living room. Garments are strewn over tables and knick-knacks line the shelves. In arm’s reach of a pair of large leather club chairs in the back is an empty Budweiser bottle and a partly crumpled pack of cigarettes. Launched by two former corporate lawyers, Brian Trunzo and Matthew Breen, in March 2013, Carson Street Clothiers has quickly become one of New York’s premier shopping destinations for men, capitalizing on a growing wave of enthusiasm for menswear and a sea change in the fashion industry, which has traditionally devoted itself to women. Jesse Thorn, founder of the men’s clothing podcast Put This On, described the menswear market as undergoing a “renaissance.”

Deloitte Consumer Tracker: Wheels are turning, but consumer spending on leisure remains hesitant - News release 25 July 2013 Consumers feel the most optimistic about their disposable income since the Deloitte Consumer Tracker began in 2011 (-29% in Q2 2013 vs. -36% in Q2 2012). Consumers have tentatively started to increase their spending in some of the discretionary categories such as in restaurants and on short breaks; Consumers remain cautious about their future with one-in-two not foreseeing improvements in their level of disposable income in 2014. Consumer confidence is growing and behaviour is beginning to change, according to the latest Deloitte Consumer Tracker. Consumers feel the most optimistic about their disposable income since the Tracker began in 2011. The sentiment index rose by 7 points to -29%, compared to -36% this time last year. As a result, consumers are showing a slightly greater willingness to spend on non-essentials, such as leisure activities. End Notes to editors The information contained in this press release is correct at the time of going to press.

The most important shopper marketing trends to watch Whether on our phones, tablets, or in-store, our fundamental shopping and buying needs, expectations, and behaviors have changed. Historically, digital marketing efforts to actively engage shopping and buying behavior have largely been focused on driving online sales or in-store traffic. However, there is an increasing opportunity to reach and engage shoppers while in-store to drive sales with digital shopper marketing. What exactly is shopper marketing? Wikipedia defines it as "understanding how one's target consumers behave as shoppers, in different channels and formats, and leveraging this intelligence to the benefit of all stakeholders, defined as brands, consumers, retailers and shoppers." While shopping behavior increasingly starts online, it often still ends in the store. Mobile Rather than deliver a coupon at the register when a person is ready to leave the store, wouldn't it be more effective to deliver a relevant offer to that person while in-store? In-store signage

Men's fashion: Online suits you sir The men’s fashion market is enjoying strong growth thanks to online channels and better brand marketing. Ecommerce is helping to drive a boom in the men’s fashion market, with one third of men shopping online for clothes, new research shows. The UK menswear market has grown by 12 per cent in the past five years and is worth £10.4bn, according to the study by Mintel. The market research group believes the market will maintain this growth and rise by 11 per cent between 2012 and 2017. Tamara Sender, senior clothing analyst at Mintel, says that although men are under-serviced with fashion options compared to women, numerous brands have identified “considerable growth potential” in the men’s sector. “There has been a tendency for fashion retailers to focus on women’s clothing simply because women have been the biggest fashion buyers,” she says. Digital platforms are contributing to the rise in menswear sales, the research shows. The frontline Fergus PattersonManaging director UK and IrelandGant

Values, Lifestyles, and Psychographics This book showcases papers presented at the annual Advertising and Consumer Psychology Conference. The contributors -- active scholars with both practitioner and academic backgrounds -- share an interest in the general area of psychographics, values, and lifestyle in advertising. The interdisciplinary and international mix of authors bring a diverse perspective to this volume, which is divided into four nonorthogonal sections. Collectively, these chapters illustrate how practical state-of-the-art research in values, lifestyles, and psychographics can be. Online Grocery Retailing is Tricky Business Author: Joost W. van der Laan, RetailEconomics This article will: Prevent you from going bankruptDemonstrate Internet opportunities for traditional retailersShow cost/profit modeling for effective e-business planning My motivation for this article is the analysis of commercially successful and commercially failing online grocery retailers. I have experience as wholesale supplier of two well managed but failing online grocery businesses. Management Summary Success of online grocery shopping depends on market potential and distribution costs. These key issues are interdependent. It is the ultimate challenge to develop an exception to this rule and the solution to this dilemma. Niche marketing: focus on a small, affluent and service oriented consumer groupFocus on margin rich products, that sell well on the internetFocus on information distribution These three solutions should be combined into a powerful Internet strategy, that should be executed in an excellent way. Example 1: Trust.

Opinion: What men want - Retail Focus - Retail Interior Design and Visual Merchandising Details Created on Monday, 12 May 2014 10:37 12 May Written by William Russell There used to be a dearth of decent menswear outlets beyond the exclusive worlds of Sloane or Bond Street but that has changed argues Pentagram architect, William Russell. The growth in the number of stores like Start, Present and Hostem in the East End, and Trunk, Album and Oliver Spencer further West seems to indicate a change in men’s attitude to retail. The wealth of these shopping experiences aimed at the stylish, cultured male shopper with an appreciation for design suggests that the so-called ‘smart man’ has already risen and the high street has some catching up to do. The prevailing attitude of these savvy professional males places a high value on buying quality in small quantities. Margaret Howell, who I’ve been collaborating with on store design for more than a decade, is a perfect example of these contemporary shops. Image: Margaret Howell

Largest employment rise in over 4 decades Employment has seen the largest quarterly rise since records began over 40 years ago and the unemployment rate has fallen again to a new 5-year low, according to figures published by the Office for National Statistics (ONS) this morning. The number of people in a job rose 283,000 in the last 3 months – the largest quarterly increase in 43 years. Employment increased by 722,000 on the year – almost the population of Leeds – meaning a record 30.43 million people are in work. Creating jobs and supporting enterprise as the economy grows are central to the government’s long-term plan to help hardworking people secure their future. The number of unemployed young people fell by 48,000 in the last 3 months, and has been falling now for the last 8 months. Minister for Employment Esther McVey said: As the recovery takes hold, more people are able to get a job or set up their own business and become the employers of tomorrow. Background to labour market statistics: May 2014

Will Grocery Stores Go the Way of Video Stores? | Environment on GOOD Think about the last time you went into a grocery store and saw an empty table or shelf. Tough, right? That's because it virtually never happens in this country. American shoppers have become accustomed to finding whatever food item they want when they go to the grocery store—and plenty of it, too. That expectation, which U.S. shoppers have only really had for the last few decades, plays a big role in the country's growing food waste problem. Of course, that's not all to do with the fact that stores overstock shelves—and wind up throwing rotted food away—in order to meet shopper expectations. However, Grant says the reason waste is endemic to the current American model of food consumption is largely to do with how we approach grocery shopping. Grant's company produced the HarvestMark platform a few years ago and have since helped suppliers throughout the country affix QR codes to their products, which shoppers can use to see where a food item came from and how long it was in transit.

RETAILERS ARE UNDERLEVERAGING CRITICAL CONSUMER DATA AS THEY SEEK TO STIMULATE INCREASED SALES VIA OMNI-CHANNEL SHOPPING CAPABILITY NORTHBROOK, Ill., Oct. 22, 2014 (GLOBE NEWSWIRE) -- While numerous retailers have collected years of customer data, only 9% are leveraging the information in a structured, usable way, according to HRC Advisory (HRC), a leading strategic retail advisory firm and unit of Hilco Global. The finding was revealed as part of the leading consulting firm's latest retail industry study, which found that outdated organizational structures and processes, non-integrated IT platforms and a lack of a clear roadmap are major barriers preventing customer data in enabling a retailer's Omni-Channel efforts. "Retail companies have collected vast amounts of consumer data and research, but the vast majorities are simply not leveraging this information to develop improved customer relationships and experiences," said Farla Efros, EVP/COO of HRC Advisory. Significant findings of the report include: Retailers aren't leveraging customer data in a structured way. Key Additional Findings:

Economy tracker: House prices 17 January 2014Last updated at 09:39 ET Latest news: House prices have increased as activity in the housing market has picked up sharply at the end of 2013 following a few years of relative stagnation. The Halifax survey said that prices had risen by 7.5% over the course of 2013, while the Nationwide said house prices were up at an annual rate of 8.4%. The Nationwide compares prices in one month with the same month a year ago. However, the Halifax compares a three-month period with the three-month period in the previous year. On each measure, the average price of a house also went through the £170,000 mark for the first time in five years. However, the figures are still below the peak of the market in August 2007, when the average price was almost £200,000. This is a UK average figure, driven by London and the south east of England. Continue reading the main story The interactive content on this page requires JavaScript BBC housing calculator UK house prices Reset