May 1, 2018 § Leave a comment
Gift giving is an important part of retail sales. It also represents an emotional bond made between the giver and the recipient. Retailers should recognize the dual rewards in growing their gifting business because you are touching two targeted consumers at the same time – the purchaser and the recipient. Gift giving strategy can provide exponential results for marketers if done correctly.
Unity Marketing estimates that $1 out every $10 spent in the typical retail store, (general merchandise, apparel, furnishings and others) is spent to buy a gift. Gifts represent approximately $128 billion in spending in 2017. Consumers are typically buying a gift every one to two months.
So what’s behind the science of giving? The act of gifting is typically meant to communicate feelings for and with another, fostering stronger social relationships. New research by the Wharton School looked at what type of gifts build deeper personal relationships, a material gift or an experiential gift.
Experiential gifts win over material gifts
Despite gift givers’ tendencies to give material possessions, material gifts do less to foster meaningful relationships between gift givers and gift recipients. The researchers report, “Experiential gifts, in contrast, make recipients feel closer to the person who gave them the gift, regardless of whether the experience is consumed together with the gift giver. Experiential gifts have this effect because of the emotion they evoke when consumed, particularly when the emotion is shared.”
“Our findings demonstrate that giving experiential gifts is more effective at fostering closer relationships, and therefore implies that gift givers should feel happier as a result of giving an experiential gift compared to a material gift,”
What are experiential gifts? An experience could be providing services like a meal, spa outing, horseback riding, or vacation. But don’t dismay – material gifts can offer experiential aspects – candles, music, books, toys, food and drink items and even things that are nice to the touch – a furry throw, a cashmere pillow or silk pajamas.
Even the actual event of purchasing the gift can be experiential in a story setting or online by telling a story, allowing for touch and feel, and conjuring up warm feelings.
June 21, 2016 § Leave a comment
Marketers tell us they desire more relevant information on marketing to women today. So we decided to devote August 5 to a one-day event around the new narratives about marketing to women. We call it Red Letter Day because the important days on the calendar are always marked in red!
By the way, women control 85% of all consumer purchases yet 90% of women think that marketers do not understand them. And some 80% of all new products fail. Think there is a correlation there?
Red Letter Day will host amazing speakers, provide great information and allow time for sharing insights. Our new 2016 Lipstick Economy Love Hate Brand Study will provide insights on media, brand interaction and purchase influences.
Yes, men are welcome. This is not a women’s empowerment event. This is a marketing event for those who are charged with marketing to women or communicating with women. Those who will benefit are individuals in marketing roles, brand managers, business owners, entrepreneurs and those charged with internal or B2B communications to women.
We wanted this day to be special with new insights from some great marketers to women. We will be talking about practical solutions for communicating with busy women and understand what convenience really means. We will hear brand stories from vital and relevant brands reaching women in interesting ways. We will learn more about having authentic and meaningful conversations with consumers. And we will learn from some new research on women and why they feel misunderstood.
Two Days of Information in One Day! You don’t like long presentations and neither do we, so we will have great Ted-like presentations from our speakers with time for real conversation and interaction.
For more information on the event and a special discount for early registration, click here.
November 9, 2015 § Leave a comment
Millennial foodies are the new “tastemakers”. What Millennials want in food today is what the rest of the world will soon be asking for. This savvy generation loves lots of informal celebrations, intense flavor profiles, ethnic cuisines, more natural foods and lots of snacks. Champagnes like Chandon are courting Millennials as an irreverent celebration alternative to their parents’ brands and are designing bottles to fit their occasions.
Restaurants are working hard to cater to millennials as their incomes and spending habits grow. Here are some important facts to understand.
- They eat out more often. 53% of the group goes out to eat once a week, compared with 43% for the general population. They eat out more often in all categories – quick serve, casual dining and fast casual. While they all eat fast food, millennials don’t want to admit to eating it. They are the least likely to recommend fast food to others. Fast casual is their favorite. Millennials compose 51% of fast casual customers.
- They want healthy food which means fresh, less processed and with fewer artificial ingredients.
- They want food that comes from socially responsible companies. Types of companies that they like include those who have principles around fair trade, sustainability and fair wages. Companies that exhibit these qualities include Starbucks and Chipolte.
- They like to support local restaurants. Again this means higher quality food, social ethics, ethnic foods and flavor profiles.
- They want convenience which translates to easy online ordering, stellar apps and rewards programs. Starbucks has scored big with their new app revamp for pick-up orders.
- Sriracha is on everything. It is stocked in 9% of American households and in 16% of those under 35.
- They celebrate a lot. According to CEB Iconoculture, Millennials are celebrating more than just the traditional holidays. Super Bowl Parties, May the 4th Be With You celebrations (for Star Wars fans), and single girls’ gatherings for Valentine’s Day are just a few ways Millennials are celebrating outside of traditional holidays.
- The line between snacks and meals is blurring. According to research by Barkley and BCG, Millennials tend to snack far more than older generations. It is very common for Millennials to regularly have snacks in the mid-morning, mid-afternoon and late at night.
On the alcohol side of things, Chandon reports that 27 percent of adult millennials now choose beer as their favorite alcoholic drink and a lot of that beer is craft beer. But beer consumption is down from 33 percent in 2012, leaving room for other products including vodkas, wines and sparkling wines. Millennials like craft brands and made-for-me brands. Chandon has targeted Millennials with its “celebrate everyday” strategy, moving sparkling wines from only end of year special occasions to everyday occasions. Since Chandon is technically not Champagne since it is from Napa Valley, the wine has become Americanized. Chandon has been able to reimagine how sparkling wine can be consumed—and by whom. Chandon typically sells for a lower price point as well.
But price alone is not enough to lure young adults. They seek an experience. Chandon has given the classic champagne bottle a trendy makeover and creates seasonal designs for its bottles. Last year Chandon put out three limited-edition bottles that are scrawled with the phrases “The Party Starts Here,” “Bring on the Fun,” and “I am the After Party.” Ideally, consumers can pick out the bottle that matches their personality. Their marketing also matches this new look with a heavy dependence on social media using image heavy social platforms like Instagram.
“Any marketer will tell you that it is very difficult to change consumer behavior,” Cristian Yanez, VP of Estate and Wines at Moet Hennessy USA, Chandon’s parent company says. “But with sparkling wine, we’ve found that a simple approach works best. I know it sounds a bit basic, but just giving people another excuse to drink a bottle of sparkling wine is sometimes all we need to do.”
November 9, 2015 § 1 Comment
It’s no secret that the average American woman is a size 14. And it seems that American fashion is beginning to take note.
Several things have happened recently to amp up the plus size movement. Project Runway celebrated its first plus size fashion designer win last week. Ashley Tipton is only the second designer on the show who has specialized in plus sizes. Her unique collection celebrated her Mexican heritage, a nod to Frida Kahlo and a fashion forward plus look. Recently Melissa McCarthy launched her own clothing line which is carried at retailers like Nordstrom’s and shopping network HSN.
According to market research firm NPD group, sales of plus-size clothes grew five percent in 2014, making it a $17.5 billion industry. What’s more the study defined ‘plus-size’ as U.S. size 18 and up, whereas in the fashion industry it starts at size 14, meaning the growth may well have been significantly larger.
Over the past two years, plus-size sales within the e-commerce category have grown 31%. Online shopping seems to take a larger share of plus size shopping. Even traditional retailers have more plus size options online.
Most plus-size women feel that their body size is not sufficiently represented in fashion and retail. A recent study from ModCloth found that 46% of plus-size women ‘never or rarely’ find clothing that flatters their body.
The online retailer surveyed more than 1,500 women to determine how they feel about the current state of the plus-size market. They found that most women are dissatisfied. Some 81% said they would spend more on clothing if there were more options available in their size.
November 8, 2015 § 1 Comment
Want to know something right away? The Google Consumer Survey is a new way to quickly answer marketing questions like “are brides keeping their maiden names”. The New York Times recently quoted a Google Consumer Survey, reporting some 20% of women married in recent years have kept their names. The Google Consumer Survey is a great alternative for quick-turn around questions. How does it work?
If you are thinking about a pre-test of a marketing campaign, testing some key product messages or gauging opinion or reactions, Google Consumer Surveys could be your answer.
With Google Consumer Surveys, you can write your own survey questions online. You pick your target, either the entire US internet population or a custom audience: 25-34 year olds, people who live in Nashville, women, etc. The survey can be fielded to a validated, representative sample of respondents whenever you want it. That means quick results.
Where do the respondents come from? Unlike traditional survey methods, Google survey respondents are people browsing the web who come across your questions as they seek out online content, such as news, entertainment and reference sites. I have answered questions on sites like The Tennessean to be able to access stories. Users answer up to 10 questions in exchange for access to the content.
Google says they automatically aggregate and analyze responses, providing the data through a simple online interface. They give you interactive histograms, clickable demographic segmentation and comparisons, and statistically significant insights―all easily sharable. Results appear as they come in, with full survey completion within days.
And pricing is really attractive. General population surveys are $.10 per complete for 1 question surveys and $1.00 per complete for 2-10 question surveys (regardless of how many questions you have).
Surveys targeted towards specific age, gender, or location demographics are now $.15 for 1 question surveys and $1.50 per complete for 2-10 question surveys.
So back to maiden names for women today! The Google survey found that higher-income urban women were much more likely to keep their names. The Times compared this subgroup to the wedding pages of The Times. Their results: nearly half of women featured in The Times since 1985 changed their names, while about a quarter kept their names and a quarter did not say, according to an analysis of 7,835 opposite-sex wedding announcements in five-year intervals.
It seems the resurgence in keeping names could be because women now go to college at higher rates than men, celebrities usually opt for their single names and couples commonly live together before marriage using both names. By the time, women marry, they have established themselves by their maiden name.
So, Google on friends.
October 6, 2015 § Leave a comment
We haven’t heard Brenda Lee singing Rockin’ Around the Christmas Tree yet, but holiday shopping has already begun. Around 32 million Americans –- or 14% of consumers -– have started their holiday shopping. Or should we say 32 million women have started their shopping?
Google has identified five holiday shopping trends we need to watch this year, based on last year’s behavior.
- This will be the most connected holiday shopping season ever. Forty percent of holiday shopping occurred online last year and this year will be bigger. We rely more on the internet for holiday research than we do friends and family.
- Mobile will continue to influence more sales. Nearly 28% of all retail sales were influenced by shopping-related mobile searches. Fifty-three percent of those who shopped online used mobile smartphones and tablets to make purchases.
- Early shopping will take away some of the clout of Black Friday and Cyber Monday. Some 48% of holiday shoppers say they did the majority of their shopping on or before Cyber Monday, up from 40% in 2013.
- Consumers more open to new stores and brands for holiday shopping.More than half of shoppers were open to buying from a new retailer and 41% actually made purchases at new retailer.
- Holiday shoppers turn to peer review on You Tube. Of people who watched online videos to help with holiday shopping, 68% preferred product videos from “people like me.”