consumer snapshot - march 2014

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Page 1: Consumer Snapshot - March 2014

www.ProsperDiscovery.com

Consumer Snapshot march 2014

Page 2: Consumer Snapshot - March 2014

© 2014, Prosper® www.ProsperDiscovery.com

sentiment strategy

march 2014

Disclaimer: Prosper Business Development and its affiliated companies (“Prosper”) make no warranties, either expressed or implied, concerning: data gathered or obtained from any source; the present or future methodology employed in producing the statistics; or the data and estimates represent only the opinion of Prosper and reliance thereon and use thereof shall be at the user’s own risk.

shopper services

Page 3: Consumer Snapshot - March 2014

© 2014, Prosper® www.ProsperDiscovery.com

sentiment

Source: Monthly Consumer Survey

consumer confidence up-down pattern of sentiment continues with 40.7%

confident in chances for a strong economy, up slightly from February’s 38.2%

very confident/confident in chances for a strong economy {adults 18+}

13 month summary confidence appears to have bounced back from the 13 month low seen in October (thanks to the government shutdown), but consumers aren’t optimistic enough to

push this indicator beyond their 40% “comfort zone”

37.5%

28.3%

40.7%

20%

25%

30%

35%

40%

45%

Page 4: Consumer Snapshot - March 2014

© 2014, Prosper® www.ProsperDiscovery.com

sentiment

Source: Monthly Consumer Survey

very confident/confident in chances for a strong economy {adults 18+}

glass half full confidence recorded this month is the highest reading for

March since the recession, but remains 13% below pre-recession Mar-07 (46.9%)

consumer confidence up-down pattern of sentiment continues with 40.7%

confident in chances for a strong economy, up slightly from February’s 38.2%

13 month summary confidence appears to have bounced back from the 13 month low seen in October (thanks to the government shutdown), but consumers aren’t optimistic enough to

push this indicator beyond their 40% “comfort zone”

46.9

%

37.5

%

40.7

%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14

Page 5: Consumer Snapshot - March 2014

© 2014, Prosper® www.ProsperDiscovery.com

strategy

Source: Monthly Consumer Survey

practicality & focus on needs {adults 18+}

spring in consumer spending?

practicality toward purchasing (42.7%) decreases slightly from February (44.4%)

year-over-year, pragmatic purchase intentions are down 10%

fewer than half (46.2%) indicate they are zeroing in on just what they need when at the store, down 5+ points

from February and the lowest reading since Q3 2007

focus necessities drops in March 47.6%

42.7%

54.2%

46.2%

30%

35%

40%

45%

50%

55%

60%

I have become more practical and realistic in my purchases

I focus more on what I NEED rather than what I WANT

with increasing confidence and decreasing practicality, consumers seem poised to spend as we approach Q2

so what does this mean?

however, look for smart shopping strategies to remain intact

Page 6: Consumer Snapshot - March 2014

© 2014, Prosper® www.ProsperDiscovery.com

shopper services

Source: Monthly Consumer Survey

how important are the following services when shopping online? {“very important” or “important”}

low prices trump free shipping when shopping online

eight in ten look for flexible return policies and easy to use website when shopping online

90.4%

87.1%

81.3%

79.5%

63.7%

56.2%

0% 20% 40% 60% 80% 100%

Low Prices

Free Shipping

Flexible Return Policy

Website Easy to Use

Pick up or return at store

Toll Free "Live"� CustomerService Person

Adults 18+

Page 7: Consumer Snapshot - March 2014

© 2014, Prosper® www.ProsperDiscovery.com

shopper services

Source: Monthly Consumer Survey

how important are the following services when shopping online? {“very important” or “important”}

low prices trump free shipping when shopping online

eight in ten look for flexible return policies and easy to use website when shopping online

75% 80% 85% 90% 95%

Adults 18+

Millennials

Gen X

Boomers

Silent

Low Prices Free Shipping

Gen X-ers, Boomers look for low prices

while Millennials are less likely to place importance on low prices and free shipping compared to average, the vast

majority still find value in these services

Key: Millennials (1983 – 1996), Gen X (1965 – 1982), Boomers (1946 – 1964), Silent (born pre-1946)

Page 8: Consumer Snapshot - March 2014

© 2014, Prosper® www.ProsperDiscovery.com

shopper services

Source: Monthly Consumer Survey

how often do you research products online before purchasing them in person or in a store? {Millennials}

low prices trump free shipping when shopping online

eight in ten look for flexible return policies and easy to use website when shopping online

Gen X-ers, Boomers look for low prices

while Millennials are less likely to place importance on low prices and free shipping compared to average, the vast

majority still find value in these services

Key: Millennials (1983 – 1996), Gen X (1965 – 1982), Boomers (1946 – 1964), Silent (born pre-1946)

9 out of 10 Millennials research online

as age increases, likelihood to research online decreases, perhaps explaining why older generations place more value

on services to motivate them to buy online

Regularly, 52.8%

Occasionally, 38.2%

Never, 9.1%

Page 9: Consumer Snapshot - March 2014

© 2014, Prosper® www.ProsperDiscovery.com

thanks

visit ______________________to access: Consumer Snapshot InsightCenter™ PowerPoint Slides …and more

Pam Goodfellow Consumer Insights Director

Prosper Insights & Analytics™ [email protected] ProsperDiscovery.com

ConsumerSnapshot.com

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