Consumer Attitudes & Behavior

Bay Shore, N.Y. -- Consumers are growing disenchanted by the physical shopping experience, with 63% admitting they prefer to shop online, according to a study by Tensator Group.    Eighty-percent of shoppers have used a store to view a product before purchasing online, the report found. And 68% admitted to using their phone to check the price of an item online before deciding whether to purchase in-store.  

Chicago -- The marketing chiefs of U.S. retailers are optimistic about the upcoming holiday season, forecasting a solid 4.1% increase in overall holiday store sales, according to a recent BDO USA survey. The projection is in line with the National Retail Federation’s 4.1% expected holiday sales increase, and is a full percentage point higher than actual retail sales gains in the 2013 season.

Thorofare, N.J. -- Shrink—including shoplifting, employee or supplier fraud and administrative errors—cost the global retail industry more than $128 billion last year, with $42 billion lost in the United States alone, according to the latest Global Retail Theft Barometer study. This represents 1.29% of retail sales, on average.   

Walldorf, Germany -- Nearly one-third of consumers say "shared values" as a reason they are loyal to a brand. According to an SAP survey of 3,000 American consumers age 18 and older, while email was cited as the most popular way to communicate with companies, almost half of customers (48%) said they had problems with delayed or no responses to email More than half of those surveyed (54%) would like, or may like, an offer of help before they have to ask for it.

San Francisco -- Eight in ten Americans are likely to shop at local businesses during the upcoming holiday season, according to a 2014 nationwide Nielsen survey commissioned by Yelp. Nearly half (47%) plan to spend more than $100 at local businesses.  

New York –- Six in 10 (59%) gift cards are now offered electronically, up 18 percentage points from 2010. According to a new Bankrate.com study, part of the reason may be that Millennials are more than twice as likely to lose traditional plastic gift cards than older adults.  

Wearable technology is ripe for growth — especially among millennials, according to PwC’s “Consumer Intelligence Series – The Wearable Future” report. Twenty percent of American adults already own a wearable device, and the adoption rate — on par with tablets in 2012 — is quickly expected to rise.

Fast-fashion for plus-sized women: That’s what eloquii.com is on a mission to deliver. While a retail format that offers runway-inspired looks for shoppers sized 14 to 24 is a no-brainer, the concept is practically radical in fast-fashion retailing.

New York -- U.S. households plan to spend an average of $538 on gifts this holiday season, up slightly from $528 last year, The Conference Board reports today. About 8% of consumers say they plan to spend more this year on holiday gifts, while approximately 32% plan to spend less. The remaining 60% plan to spend about the same as last year.