Posted by Barry Silverstein on July 11, 2012 01:01 PM
What started as a recession-beating tactic seems to have become ingrained in shoppers in the United States. They just can't get enough of store brands, aka generics or private label products.
A new study of 500 U.S. consumers conducted by the management consulting company Accenture shows that 64 percent of shoppers' grocery carts were at least half full of store brand products — and 39 percent said they've bought more store brands in recent years. This is in line with an April 2012 study conducted by Perception Research Services indicating that 38 percent of U.S. shoppers have bought more private label products than they did in 2010, with 86 percent of shoppers saying they purchase at least some store brands on a regular basis.
The rise of store brands has been a phenomenon typically associated with recessionary times, but in recent years, consumers have favored store brands for reasons other than price alone. Two-thirds of shoppers do indeed say they buy store brands because they are cheaper; according to the Accenture study, however, 50 percent of consumers surveyed buy store brand products because they perceive the quality to be just as good as the brand-name equivalent, and 42 percent say they buy private label products because they trust a particular store's brand.
Start throwing around terms like "quality" and "trust" and marketers of brand-name products become very nervous.Continue reading...
Posted by Barry Silverstein on February 8, 2012 12:11 PM
There's good news for CPG companies who've been shifting their promotional dollars from print ads, FSIs, direct mail, and other traditional media to online media. A new study suggests they should keep doing it.
A trio of lower-case branded research consultancies — accenture, comScore, and dunnhumbyUSA — have teamed up on a research study to answer the question, "Are your CPG brands maximizing the return on your digital investment?"
What they discovered was compelling: a direct correlation between CPG brand website usage and in-store purchase behavior. The study was based on an integrated panel of one million U.S. Internet users who gave comScore explicit permission to have their online activities continuously measured and matched to their in-store brand buying behavior provided by dunnhumbyUSA.
The research was designed to accomplish three specific objectives:Continue reading...
Posted by Sheila Shayon on February 2, 2012 11:02 AM
A new study from Accenture reveals that 66% of consumers changed brand loyalty in 2011 due to dissatisfaction with customer service, even as satisfaction with overall services provided increased.
The Accenture Global Consumer Survey polled 10,000 people in 27 countries on ten issues about service expectations, purchasing intentions, loyalty, satisfaction and switching.Continue reading...
Posted by Dale Buss on November 18, 2011 09:02 AM
Accenture introduces global brand campaign.
Alamo trademark flap resolved in Texas.
Anna's Thins cookies adopt a new look.
Apple's iPad tested as voting device in Oregon, continues "App Store" fight with Amazon.
Best Buy ups holiday spending and introduces "Game On, Santa" campaign.
Boeing wins its biggest-ever commercial-jet deal even as mechanism for deal is criticized.
Cannes adds Mobile Lions award.
Coach pushes for China to become its No. 1 market within three years.
Deutsche Borse and NYSE seek to appease European Union.
Fiat introduces another TV commercial featuring Jennifer Lopez and its Gucci edition.Continue reading...
Posted by Dale Buss on November 17, 2011 09:25 AM
Abercrombie & Fitch tells investors it discounted prices too much.
Accenture calls on clients to help make a statement.
American Airlines and union plan to return to talks.
Apple's iPhone passes BlackBerry as business favorite.
BP faces charges over Alaska spill.
Chrysler plans to invest heavily in building Jeeps in Toledo, Ohio.
Corona brings back long-time holiday spot.
Delphi prices IPO at $22 a share.
DirecTV unveils dramatic man-vs.-wolf action in new spot.
GE bets on software development.Continue reading...
Posted by Barry Silverstein on November 16, 2011 09:55 AM
Retailers always approach the holiday shopping season with a mixture of cautious optimism and trepidation. While this year will be no different, at least one market survey suggests American retailers may be able to breathe a small sigh of relief.
That's because American consumers will spend, on average, 17 percent more money than last year. Americans will spend an average of $831 on gifts this holiday season, $121 more than last year, according to the latest American Express Spending & Saving Tracker report.
But consumers will also be shopping smarter, taking advantage of strategies that will save them money. Pre-holiday shopping is expected to increase by 37 percent over last year. That's one reason Walmart is aggressively promoting its layaway program and pitching a "Christmas Price Guarantee."Continue reading...
Posted by Sheila Shayon on October 10, 2011 12:30 PM
This holiday shopping season will be dominated by the ‘precision shopper’ as 72% of U.S. consumers will be consciously minding their budgets according to the latest annual Accenture Holiday Shopping Survey.
Accenture projects that discretionary gift spending this holiday will be consonant with the strains on consumer’s wallets and economic concerns. ‘Extravagant’ or ‘unrestrained’ spending is planned by only 6% surveyed while 24% expect a ‘thrifty’ holiday season with one in five (18%) ‘focused on necessities.’
While 88% plan to spend the same or less than last year, a spike from shoppers with income exceeding $100,000 (71% of respondents) expect to spend at least $500 on gifts in a segmented boost for retailers.
“This holiday season will see the balance of power continue to tip in favor of the consumer,” stated Janet Hoffman, managing director of Accenture’s retail practice. “‘Precision shoppers’ will dominate. They will be very targeted about where and what they buy, and will be more inclined to shop around for the best value.”Continue reading...
Posted by Dale Buss on August 4, 2011 09:00 AM
Accenture drives social business adoption through gamification.
Amazon battles U.S. states over taxes.
Bally expands to India.
Banco Popular expands rebranding to Popular Inc.
Canada sees online ad revenue exceed print for the first time.
Cargill recalls 36 million pounds of turkey products.
CNN finds host Piers Morgan coming under parliamentary pressure and accusations by Heather Mills over hacking.
Coca-Cola joins brands testing cloud-based in-text social advertising.
comScore acquires analytics firm AdXpose.
Dunkin' Donuts rolls out Keurig single-serve cups, with Starbucks to follow.Continue reading...