Consumer Price Loyalty

Consumer Price LOYALTY

Research on retail 

In today business and the changing environment, As retail businesses boost  for the holidays and for what they hope will be a profitable fourth quarter, a research done,  on Retail Industry indicates that businesses will have to do more than just encourage shoppers this year with great deals - they will have to wow them. 

This is find out 76 percent of survey respondents claimed that their customers are still price-sensitive and are shopping for deals, while 24 percent of respondents say their shoppers are brand-loyal, regardless of price. This survey has represented every major retail category from electronics, Home appliances, fabrics and fashion.

Today in the retail sector this is important to find a clear picture of the customer spending habits to make a strategic decision regarding the product innovation.

This is not surprising to us that many of merchants, regardless of their offerings and product promotion say that their customers are still cautious when it comes to their spending expenses on shopping.

 Marketers spend an average of 2.5% of their total company revenue on digital marketing activities and Social Media currently makes up an average of 7.6% of respondents’ total marketing budgets. This share of spend is expected to jump by more than 40% in the next year to 10.7%.

In the retail sector When asks what strategies retailers are finding success on the marketing and brand communication it comes to online advertising, Search Engine Marketing (31%) and email campaigns (31%) tie at the top of the list.

Email performance remains at average levels for most retailers (47%) while many are actually seeing an improvement over last year (36%), and only 10% are seeing a decline in performance compared to previous three years. 

A majority of retailers surveyed (49%) reported that they are seeing an increase in their affiliate marketing programs compared to 2009, and about forty-four percent of merchants surveyed believe that Search Engine Optimization (SEO) strategies will bring in about 5-20% of their sales, while only 24% believe that they'll receive 20-50% of sales from SEO. 

Another standout trend is the proclivity for retailers to use social media. While it's no surprise that retailers rely on sites like Facebook pages and Twitter to advertise products and sales (59%), the survey revealed that they also use social media to communicate news (64%) and even address customer service needs (34%), while giving customers a forum for discussion (43%). Facebook tops the list of most retailers' primary social media tools (82%) while Twitter (67%) and blogging (54%) follow suit. Only nine percent of the retailers claim not to use social media at all. 

With respect to mobile marketing, a large percentage of retailers (52%), while they may not engage in it now, have plans to. Thirteen percent currently use mobile marketing as part of their strategy and thirty-five percent do not and do not plan to in the future.