Consumer Attitudes & Behavior

By Martin Walker and Martin Walker

Based on current worldwide demographic trajectories, in five years there will be more people over the age of 60 than under five. In 30 years, there will be more people over 60 than under 16. In fact, the fastest-growing age group worldwide in this century will be people over the age of 60.

It’s a new year, and with it comes the opportunity for a fresh start for retailers as well as consumers. As in new years past, I’m inundated with a flurry of trend forecasts, surveys and predictions. One of the more interesting ones to cross my desk comes from JWT, New York, one of the world’s biggest marketing communications brands. It is the firm’s seventh annual year-end forecast of trends that will impact consumer behavior going forward.

Yonkers, N.Y. -- The Consumer Reports Holiday Poll released Wednesday found that a quarter of adults in the United States had yet to begin their holiday shopping as of Dec. 19, compared with 17% last year.

Of those who haven't started shopping yet, 54% cited lack of enough money as a reason, 41% still believe they have plenty of time, while 29% are in procrastination mode.

Chicago -- True Value said Tuesday it has named Blake Fohl as its new VP marketing and chief customer officer.

In his new role, Fohl will lead brand strategy; segmentation; national, local and regional marketing; trade shows; and research and analytics. In addition, he will be responsible for the customer loyalty program, circular program and retail customer experience metrics.

Fohl is replacing Carol Wentworth, who accepted a position with Performance Bicycle as its senior VP marketing.

Reston, Va. -- Shoppers spent 14% more for online holiday spending during the week ending Dec. 18, according to comScore. Online spending totaled $6.4 billion for the week, making it the busiest week ever in online holiday shopping.

Shoppers have spent almost $32 billion online for the holiday season to date, a 15% increase from a year ago, comScore reported. The period includes the first 48 days of the holiday season spanning the months of November and December, according to comScore.

San Francisco -- A new survey conducted this past weekend by Visa Inc. shows that 77% of consumers still need to buy holiday gifts this week. These last-minute shoppers will spend an average of $278 in the final days leading up to Christmas and Hanukkah.

Bethesda, Md. -- IBM on Monday released its Benchmark projection for online sales for the month of December, showing that online sales are expected to grow by 9.5% to 10% year-over-year.

For the week of Dec. 11, the report showed that online sales rose 10.8% over the same week in 2010. Mobile traffic increased to 12.1% of all online retailing sessions, compared with 5% over the same week last year and reflecting a 143.9% increase.

Fort Lauderdale, Fla. -- A survey released Monday by Spherion Staffing Services said that when consumers have a positive customer service experience, they are more likely than ever before to share their opinions than in previous years, especially via social media, online review sites, and with the company itself.

Reston, Va. -- Following recent e-commerce trends released by comScore, online spending continues to grow at a consistent 15% rate. As reported earlier, holiday e-commerce spending rose 15% year-over-year to $26.8 billion for the first 42 days of the shopping season, through Dec. 12.

And on Sunday, comScore released its latest findings, that online sales surpassed $1 billion on four days during the work week of December 12-16, a 15% increase over the same period last year.

There’s nothing wrong with most of the consumer electronics items that get returned to stores, according to new research by Accenture. A study by the firm found that defects only account for about 5% of the returns and the rest of the time buyers’ remorse (27%) or a perceived flaw (68%) results in the item being returned.