Vision Critical Study Reveals that Experience Determines where Shoppers Spend Most
Vancouver, CANADA – November 29, 2012 – Vision Critical’s Rapid Shopper Insights Panel surveyed this year’s Black Friday and Cyber Monday shoppers on their ratings of six major retailers: JCPenney, Best Buy, Walmart, Target, Toys ‘R Us and Amazon. Survey respondents were asked to report on which retailers had the best sales, promotions and overall shopping experience. The Rapid Shopper Insights Panel produced efficient results that showed how shopping experience is a key deciding factor for shoppers when choosing where their largest share of wallet will go on Black Friday and Cyber Monday.
Study Highlights: Experience Opens Wallets
• Consumers who enjoy their shopping experience are more likely purchase from more product categories. Overall average categories purchased is 2.5, whereas those who enjoyed their ins-store shopping experienced purchased more product categories (4.6)
• Average spending increases for those who enjoy their in-store shopping experience. While the total average spend is $363, those who enjoy their shopping experience spend an average of $457 (a 26% increase)
“In today’s competitive marketplace, many of the world’s top brands rely on Vision Critical community panel technology to obtain rapid shopper insights,” says Dara St. Louis, Senior Vice President, Vision Critical. “With constant fluctuations in consumer demands and trends, it is necessary for retailers to stay closely in tune with shopper behaviors. Using Vision Critical technology during critical retails holidays such as Black Friday and Christmas can help retailers make more informed business decisions and ensure they are delivering an optimum shopping experience.”
This research was conducted amongst six retailers with n=1000 US National Shoppers on November 15th, November 19th, and November 26th, 2012 using Vision Critical’s Rapid Insights Panel.
About Vision Critical
Vision Critical pairs the world’s leading consumer insight specialists with the most innovative software developers, marrying the precision of market research with the speed and power of online technology. Serving over 600 global brands through offices across North America, Europe, Asia and Australia, Vision Critical creates powerful software and research solutions, including the world’s leading Community Panel platform. For more information, please visit www.visioncritical.com;and follow Vision Critical on Twitter at http://twitter.com/#!/visioncritical