In our latest video blog, Cathy Saraniti (VP, New Product Sales Development at GfK MRI) discusses differing fashion attitudes between two distinct age groups of female Millennials. A new analysis from our Survey of the American Consumer®suggests that marketers may be turning down greater sales by treating Millennials as one group with uniform taste.
Marketers often treat Millennials as one group, but GfK MRI found that younger and older female Millennials can be quite different. Their opinions towards fashion and media differ, as highlighted in an analysis of GfK MRI’s Survey of the American Consumer, which recommends reclassifying Millennial women into two distinct groups: ages 20 to 24 and 25 to 37.
The use of mobile payment is in its infancy in Belgium, yet awareness is relatively high. Our latest research highlights some of the obstacles to widespread adoption, and suggests how the market might develop in the future.
Our FutureBuy study of 17,000 consumers across 17 countries identifies that just 5% of transactions are made using a mobile device. Although cash and cards are still used for the majority of transactions across these markets (46% and 45% respectively), there is an enthusiasm to pay via mobile. Two barriers are preventing widespread adoption – the two “Ts” of trust and technology. The picture is similar in Belgium, but here it would appear that mobile payment seems to be very much a youth market phenomenon.
With the launch of Apple Watch looming, wearable devices are garnering more attention than ever. We conducted a survey (Wearables: Geek Chic Or The Latest “Must Have” Consumer Tech?) to understand users’ attitudes towards smartwatches and activity trackers. One trend that caught our eye is that the idea of using a smartwatch for smart payments is met with relative skepticism.
We wanted to explore the causes of this user skepticism, and come up with ways payment providers could turn this around. So, our user experience (UX) design team started thinking about ways payments could work well for wearable users.
New services are focusing on impeccable design in web, mobile, and broader support services to allow them to engage consumers in new ways. On the one hand, we are seeing services overcome the hurdles of expensive financial advice by promoting their use of “robo-advisors,” or asset allocation algorithms that replace traditional money managers. On the other, we are seeing services decrease costs by stripping out components that consumers are willing to forego in the name of saving money.
First it was central locking, then the transponder key. Will wearable watches be driving the cars of the future? As yet, the wearables market overall remains significantly untapped. Both industry leaders and smaller players have launched products onto the market in an attempt to capture consumers’ imaginations. According to our recent study into wearable technologies, the connected car may be one of the concepts where wearables could come to maturity.
We recently undertook a study to understand how consumers in Singapore buy tablets. While tablets may attract highly discerning, online savvy consumers, the vast majority (87%) of consumers browse both virtually and in person for these high ticket items. If the importance of the physical store in the purchase of a connected device was ever in doubt, our study reveals that Singaporean consumers are nearly twice as likely to make their final purchase of a tablet in a store compared to online (72% vs 28%) .
The only constant is change and this is particularly true for the payments industry. Very big changes are coming to the industry later this year and it’s going to have a ripple effect across the entire purchasing experience in the US.
On October 1st, there is a shift of fraud liability from the issuers of debit and credit cards, which are banks and other financial institutions, to retailers such as Target and Walmart. Although this doesn’t appear to directly affect consumers, the reaction to this shift in liability will change the way Americans pay for the things they buy.
Loyalty: “a deeply held commitment to rebuy or repatronize a preferred product/service consistently in the future, thereby causing repetitive same-brand or same brand-set purchasing, despite situational influences and marketing efforts having the potential to cause switching behavior” 1
Technical Consumer Goods – it’s a vast market, but how do sales breakdown online compared to offline? Our new infographic based on latest GfK Retail Sales Tracking data provides some of the key facts at-a-glance. From how much money is spent online vs offline, to the biggest five markets and categories for online sales, to the fastest growing product areas, this is valuable information you can’t afford want to be without. Whether its consumer electronics, telecoms, IT, photo, small or major domestic appliances or office equipment, if you’re in TCG, don’t miss our snapshot of the marketplace.
As blatant homage from Gabriel García Márquez’ “Love in the Time of Cholera”, it seemed fitting given the media blasts about Ebola, the measles and the flu in the past few months.
After watching a couple of episodes of “The Walking Dead”, you’ll start stocking up on water and canned goods. One of the critical things that people don’t talk about, however, is how you are expected to access your finances if you can’t go to the bank. ATMs are great but I’m not going to stand in the street using an ATM if “fast zombies” are coming my way. I’d want a locked lobby that only non-zombie customers can access.