Table of Contents
Overview
-
- What you need to know
- Definition
Executive Summary
-
- To find value, consumers have to define value
-
- Figure 1: Mintel trend driver – Value, 2019
- Big events highlight retail bigger trends
- Daily deals dominate
-
- Figure 2: Types of sales events shopped, December 2019
- Consumers see convenience in omnichannel retailing
-
- Figure 3: Shopping channels, December 2019
- All promotions are not created equally
-
- Figure 4: Types of promotions, December 2019
- What consumers want and why
- Retailers, show you know them
The Market – What You Need to Know
-
- Value is in the eyes of the shopper
- Money talks
- Major sales events set the tone for retail’s performance
Market Overview
-
- The value of sales and promotional events
- It’s all about the Benjamins
-
- Figure 5: Shopping habits – Simmons Research, Spring 2019
- Confessions of a (bargain) shopaholic
-
- Figure 6: Attitudes toward shopping during sales, December 2019
-
- Figure 7: Attitudes toward shopping during sales - Simmons Research, Spring 2019
- Cashing in on coupons
-
- Figure 8: Coupon usage, 2019
- Events shaping retail
- The king of the retailer-created sale events
-
- Figure 9: Amazon Prime Day announcement, July 2019
- It’s the most wonderful time of the year (for parents, anyway)
-
- Figure 10: Target Deal Days and back-to-school email, July 2019
- When do the winter holidays actually start?
-
- Figure 11: Walmart’s Early Deal Drop email, October 2019
- Market factors
- The politics of shopping
-
- Figure 12: Major macroeconomic indicators, by quarter, 2015-19
- Young consumers spend big to save big
-
- Figure 13: Median household income, in inflation-adjusted dollars, 2007-17
Key Drivers – What You Need to Know
-
- Drivers shaping consumer behaviors
- Effective promotions and events must align with consumers’ priorities
Key Drivers
-
- Value
- Delivering value through convenience
-
- Figure 14: Introducing Blueprint by David’s Bridal, August 2019
- Technology
- Driving membership through online entertainment
-
- Figure 15: Twitch Prime Crown Cup, July 2019
- Experiences
- Nature tracking paves the way for adventure seekers
-
- Figure 16: Alaska Airlines – Land a Lighter Fare, January 2020
- Surroundings
- Connecting with consumers through passion to preserve
-
- Figure 17: REI Opt to Act, October 2019
- Wellbeing
- Walking toward savings
-
- Figure 18: Walgreens rewards healthy consumers, March 2019
- Identity
- You’ve got a friend in makeup
-
- Figure 19: In-app shopping options, Ulta Beauty
- Rights
- Empowering consumers to make a difference
-
- Figure 20: TOMS donates based on consumers’ choices
The Consumer – What You Need to Know
-
- Regular savings appeal to thrifty shoppers
- Introduce virtual to reality
- Frugal fashionistas dominate the clearance racks
- Other promotions are nearly as effective as sales
Types of Sales Events Shopped
-
- Constant shopping needs constant sales
-
- Figure 21: Types of sales events shopped, December 2019
- Age impacts how consumers approach sales
-
- Figure 22: Types of sales events shopped, by age, December 2019
- Parents shop savvy
-
- Figure 23: Types of sales events shopped, by parental status, December 2019
- Make buying easy with omnichannel strategies
-
- Figure 24: Shopping channels, December 2019
Products Purchased
-
- Big events mean big savings
- Stay trendy during the winter holidays
- Shop smart over the summer
-
- Figure 25: Products purchased during major sales events, December 2019
- CPG shines during smaller events
-
- Figure 26: Products purchased during minor sales events, December 2019
-
- Figure 27: Target deals during Halloween, 2018
Types of Promotions
-
- Immediate cost savings provides instant gratification
- Don’t tell shoppers when to spend
-
- Figure 28: Types of promotions, December 2019
- Lower-income shoppers want to stretch their budget
-
- Figure 29: Types of promotions, by household income, December 2019
Information Channels
-
- Traditional media generates awareness
-
- Figure 30: Information channels, December 2019
- TURF Methodology
-
- Figure 31: TURF analysis – information channels, December 2019
- Frequent shoppers learn about promotions from targeted ads
-
- Figure 32: Information channels, by gender, December 2019
- Parents find sales through their network
-
- Figure 33: Information channels, by parental status, December 2019
- Multicultural consumers let the retailers come to them
-
- Figure 34: Information channels, race and Hispanic Origin, December 2019
Reasons for Shopping Sales
-
- Taking pride in a sale well shopped
-
- Figure 35: Reasons for shopping sales, December 2019
- Women are cost-driven shoppers
-
- Figure 36: Reasons for shopping sales, December 2019
- Parents are too busy to be budget-focused
-
- Figure 37: Reasons for shopping sales, by parental status, December 2019
Attitudes toward Sales and Promotional Events
-
- Sales change people . . .
- . . . and industries
-
- Figure 38: Behaviors during sales and promotional events, December 2019
- Specialized sales tactics see success
- Sales are fantastic, but frenzied
-
- Figure 39: Behaviors during sales and promotional events, December 2019
Appendix – Data Sources and Abbreviations
-
- Data sources
- Market data
- Fan chart forecast
- Consumer survey data
- Consumer qualitative research
- Direct marketing creative
- Abbreviations and terms
- Abbreviations
Appendix – Market Overview
-
-
- Figure 40: Attitudes toward shopping, Net: any agree
- Figure 41: Where coupons are redeemed
- Figure 42: Why coupons are redeemed
- Figure 43: Attitudes toward the internet, Net: any agree
-
- Figure 44: Shopping behaviors, Net: any agree
-
Back to top