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As U.S. retailers brace for potentially the worst shopping season in recent memory, it is more important than ever to develop strategies that focus on where and when consumers are likely to make purchases.
In this premier issue of the Retail Consumer Dynamics Study, Acxiom and BIGresearch combine consumer survey study findings with consumer demographic, life stage and lifestyle information.
Insights drawn from this unique study allow retailers to anticipate shopping patterns and plan accordingly.
A key finding in the study is that consumers’ behavior and attitude toward economic conditions in the near future vary significantly, leading to unique shopping and purchasing decisions.
To download your copy of the study, click here.
“Savvy Spenders” (mostly married, affluent, both young and mature, living in outer suburbs and rural communities) are more likely to spend sooner than other segments, given some improved circumstances.
Of the “Savvy Spenders,” 37% are shopping sales more often.
“Savvy Spenders” favor department stores for their combination of category offerings and brand/price options.
Those likely to shop more online are the “Tight with Purpose,” who are married with children, upper middle income with professional or management careers.
The “It’s My Life” segment − mostly affluent young consumers maintaining a child-free city lifestyle − are not letting current economic conditions change their shopping behavior. They shop in category killer stores to benefit from the blend of brand selection and price.
The Retail Consumer Dynamics study is powered by Acxiom’s InfoBase-X™, the largest, most accurate, comprehensive and multi-sourced data collection of U.S. consumer information in one source, and PersonicX®, Acxiom’s household-level segmentation suite that places U.S. households into one of 70 distinct segments and 21 life-stage groups based upon specific consumer behavior and demographic characteristics.
To download your copy of the study, click here.
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