Consumer Analytics

Two of the nation’s largest retailers shared the No. 1 position in a ranking of the top U.S. retailers.    Walmart and Kroger Co. tied for first place (in the overall composite score) in Kantar Retail’s 2016 Retailer PoweRanking. The ranking is designed to identify the retailers currently setting the highest standards of performance as viewed by their trading partners, and to gain insight into what makes these retailers "best in class."  

Online growth — and along with it, online market share — continues to accelerate.   The trajectory is so strong that sales are on pace to hit $440 billion in 2017, a leap from $395 billion expected in 2016, according to “U.S. Online Sales Forecast: Omni-Channel Retailing Challenged by Its Success,” a report from FTI Consulting.   

Year-round e-commerce sales and discounting have dulled the impact of traditional Black Friday sales for many consumers.   These shoppers are so desensitized to “Black Friday hype” that nearly three in four respondents (73%) said they prefer to do their holiday shopping outside of the holiday season, during e-commerce sales, such as Amazon Prime Day. These preferences have influenced 47% of shoppers to skip Black Friday or Cyber Monday altogether this year, according to the second annual “JDA Consumer Survey.”

Social media is increasingly influencing the shopper’s entire path-to-purchase.  

The crusade to win the hearts, wallets and loyalty of customers is sometimes waged based on price, store location, or superior product offerings. But often, winning the battle comes down to more emotional factors – a matter of demonstrated care and consideration for a customer’s unique shopping needs. Simply put: A truly exceptional customer experience that both surprises and delights.   

The more help a consumer receives—digital and human—the more he or she is willing to spend while in the store.     Consumers spend twice as much in-store when they receive assistance from a store associate, according to a new study by InMoment, and 2.2 times more when they surf the brand’s web site while in the store. What’s more, a consumer’s average single-trip spend increases nearly four times when engaged by both in-store staff and the brand’s web site.  

To bolster its omnichannel efforts, Lowe’s promoted Michael McDermott to chief customer officer.   McDermott, who currently serves as Lowe's chief merchandising officer, will be responsible for creating experiences that best serve customers and differentiate Lowe's in an omnichannel environment. This includes lead-ing strategies, customer insights, customer experience design and market-ing.   

Google is testing a feature that allows users to search for specific products nearby or in a specific area using voice commands.    According to a report by MediaPost, the feature, similar to a search experience, provides the users with a response (verbal in this case) based on local inventory around them.