background preloader

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

The Joy of Shopping: It’s All in the Mind - FITCH
Click here to download the PDF The global world of retail is in a state of revolution. What was once so SIMPLE – “I’m just popping out to the shops” is now infinitely SPLINTERED. Shopping is anywhere and everywhere. Today’s consumers have an abundance of choice for shopping – in a store, on a website, via an app on their smart phone and through their games console. They move fluidly and instinctively across retail brands and channels as they satisfy their different SHOPPER MINDSTATES at the flick of a key or the click of a mouse. The old notion of a linear customer journey is rapidly evolving into a more mosaic approach. FITCH has identified three universal ‘shopper mindstates’ that characterise the behaviours of shoppers across the world. Dreaming In this mindstate, shoppers actively look for new ideas and inspiration. Exploring Here, the shopper is open-minded, but has a category-specific purchase intent. Locating Is Locating Now Simply The Price Of Entry? A Shopper Mindstate Study Enjoy

http://www.fitch.com/the-joy-of-shopping-its-all-in-the-mind/

Related:  Consumer Research, Behaviour, TheoriesFMPcarmen180691

Business Standard Welcome to a new model of consumer behaviour: snackable consumption, a world in which people use smart devices to shop in increments, moving comfortably from one digital destination to the next, grabbing bite-sized information such as prices about brands, products and services, often doing their research while multitasking. Snacking behaviour often discussed in the context of content consumption - now extends far beyond content. Increasingly, we are seeing this behaviour extend into new areas. Experience retailing – adding value to the customer journey ‘Experience retailing’ isn’t a new phenomenon, it’s been around for decades, but the stakes have been raised and now for retailers to stay ahead of the game they must deliver an all encompassing in-store experience that adds value to the customer journey. IBM recently reported that consumers are increasingly purchasing through multiple retail channels and mass adoption of ‘showrooming’ – where shoppers price check and buy online while in-store – mean that retailers have to try that little bit harder to drive engagement in their physical space. The secret of retail success today is a cohesive multichannel approach, which includes a clearly defined role for a bricks and mortar retail environment.

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.

Asos credits e-commerce innovation as sales soar Asos posted a big jump in sales over Christmas and says its commitment to e-commerce innovation helped to attract consumers increasingly heading online to buy clothes. Sales for the four months to the end of December were up 38 per cent to £335.7m. In the UK, its biggest market, sales increased 37 per cent to £133.7m, while sales growth was particularly strong in Europe, up 69 per cent. Active customers, described as those that have made a purchase in the past year, rose 41 per cent to 7.9m. Asos CEO Nick Robertson credits “significant improvements” to its customer experience for the sales boost. These include better delivery options, additional payment methods and the rollout of its premier service, which offers perks such as exclusive access to sales and unlimited next-day delivery.

The Secret Psychology Behind Selling Beauty Products to Men - In Depth In 1960, in the aftermath of the first-ever televised presidential debate, Richard Nixon wished he hadn't passed on the concealer, bronzer, and foundation. His opponent, John F. Kennedy, looked dashing, youthful, and put-together on screen; meanwhile, even Nixon's supporters said he looked like he'd just suffered a coronary. Few political candidates since have been stupid enough to repeat Nixon's mistake. It's no secret that men in power—politicians, actors, business leaders—often rely on makeup artists to look their best, particularly in front of the camera. Bringing social innovation to life through design What do a near indestructible football, newly designed clothing for female medical patients and a new condom pack have in common? Firstly, they are all shortlisted for the 2013 Index awards for "design to improve life". Secondly, they all provide great examples for the theme of our next article on sustainability and design: how designers are creating real, practical solutions to some of the world's many social and environmental challenges – through social innovation by design. The biannual Index awards are one of my favourite sustainability initiatives, and also I believe one of the most important.

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.

'One in five shops to close as ecommerce grows' One in five high street shops are expected to close in the next five years, according to a new report as separate survey finds a third of consumers now do most of their shopping online. London’s Oxford Street VIP shopping day in December attracted shoppers but high streets face closures. More than 60,000 high streets shops are predicted to close and 164 retail chains to go into administration, according to the Retail Futures 2018 report by the Centre for Retail Research.

Fashion consciousness increasing across socio-economic segments Hot pants, or short shorts, a hot fashion item, sell at the same speed in cities like Bangalore and Pune and smaller towns like Kolhapur, Hasan and Hubli, says Abhay Bahuhune, brand head, People, a fashion apparel retail chain. In Kolhapur, it is not common to find the youth sporting micro shorts in public. They wear them in their houses and at house parties. As such, girls usually wear their jeans on top of the shorts when stepping out of their homes and take the jeans off once indoors, says Bahuhune. The Aram Gallery Unread Messages 11 March - 9 April 2016 Creative agency Six:Thirty presents Unread Messages at The Aram Gallery.

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. The first section deals with theoretical and conceptual issues in advertising research, while the second section presents chapters devoted to improving methodology. ASOS posts bumper Christmas sales as data shows online shopping boom Online fashion store Asos enjoyed a bumper rise in sales in the last four months of the year, the latest example in the recent swath of retailers' results to show the growing influence of the internet. Sales at Asos – which has become a top destination for fashionable teen and twentysomething shoppers in countries ranging from China to the US – jumped a better than expected 38% to £336m in the four months to the end of December. Sales in the UK, Asos's biggest market, increased 37% to £134m. Nick Robertson, Asos chief executive, said: "We have been benefiting from a structural shift online for 10 years. By constantly improving the offer to our fashion-conscious twentysomething customers they are rewarding us with more sales."

Now & then: Shifts in consumer behaviour over the last 10 years ET Bureau Nov 5, 2014, 05.05AM IST (Consumers of today have…) Consumers of today have evolved into a hyper active multi-taskers, constantly squeezing the 25th hour out of a regular day. Here are some of the most radical changes between contemporary consumers and how they behaved as recently as a decade ago. In an exclusive to Brand Equity, Devendra Chawla, CEO, Food Bazaar, chronicles the many shifts in consumer behaviour and attitude over the last decade. The star of a movie called 'me.'

Distillation apparatus forms centrepiece in Aesop Nottingham A complicated assemblage of glass beakers and steel tubes emits scents into this outpost of skincare brand Aesop, designed by Paris studio Ciguë above a record store in Nottingham, UK (+ slideshow). Ciguë worked with Aesop's in-house design team to create the interior of the 33-square-metre space, on the first floor of music retailer and label Rough Trade's branch on Broad Street. The three-tiered contraption includes a glass kettle, live plants and feeding taps – connected by a series of pipes – and is situated in the centre of the room. A similar device was created by a Design Academy Eindhoven last year to waft historical smells into its setting.

Related: