Retail Trends, Spending, and Easter Celebratory Patterns
Executive Summary: In terms of popularity among American celebrations Easter celebrations are less than Mother’s Day and more than the Super Bowl. Over the past eight years, there has been a slight decrease in the observance of Easter, along with a minor dip in associated spending. Factors such as the presence of children, age, and […]
St. Patrick’s Day Celebrations Soar in Popularity and Spending
Summary St. Patrick’s Day ranks between Halloween and Valentine’s Day. Celebrating the day has increased over the last nine years. Spending is also up, especially for food and beverage. Gender, age, income, and presence of children are the strongest predictors of planning to celebrate. Celebrators plan to buy more and shop more. They are more […]
The Most Important Thing About Super Bowl Advertising Isn’t the Ad
The Most Important Thing About Super Bowl Advertising Isn’t the Ad By Larry DeGaris, Executive Director, Medill Spiegel Research Center The cost of airing a 30-second ad during the Super Bowl has continued to spiral upward over decades. This year, a 30-second ad cost about $7 million to air. That means advertisers need to leverage […]
Madison Ave. Meets the Merchants
Madison Ave. Meets the Merchants A Report from the IAB’s Annual Leadership Meeting By Larry DeGaris, Executive Director, Medill Spiegel Research Center “Signal Loss”—Avoidance and Magical Thinking I attended the IAB’s Annual Leadership meeting at the end of January. The primary topic of the conference was “signal loss” and how the industry will adapt to […]
Super Bowl Watching: Consumer Behavior and Happiness
Summary The Super Bowl, deeply ingrained in American culture, significantly shapes consumer behavior and happiness. Prosper Insights & Analytics’ January 2024 survey of 8,239 participants delves into Super Bowl-watching intentions, shedding light on its broader impact. Prosper Insights & Analytics’ January 2024 survey reveals that 76.9% of adults plan to watch the Super Bowl in […]
Sports Betting
Summary This article provides insights into the increasing interest in sports betting and its connection to consumer behavior, demographics, and personality traits. Understanding these dynamics is essential for businesses seeking to engage with this growing market. The increasing popularity of sports betting, driven by prominent platforms like FanDuel and DraftKings, is explored through data from […]
Retail Membership Clubs: Part One
Summary Data from the October 2023 Prosper study reveals that consumer preferences vary by product category, influenced by income and demographics. An overview of the report’s key findings sheds light on the growth of retail membership clubs and shopper behaviors. Understanding these insights is important for retailers to know more about evolving consumer preferences to […]
Robots and the NIST AI Risk Management Framework
Summary The shift from the National Robotics Initiative to AI has spurred the National Artificial Intelligence Advisory Committee (NAIAC) and NIST to develop a Risk Management Framework, highlighting the need to balance innovation with safety while AI-enabled robots present a new set of challenges and opportunities, demanding a comprehensive approach to governance. The US Government […]
How Generative AI Will Raise the Voice of the Customer
Summary The article explores the transformative potential of Generative AI in the retail sector, drawing a parallel to the holographic librarian Vox 114 from the movie “The Time Machine.” AI solutions like Chat GPT, Microsoft’s Copilot, and investments from Google and Salesforce are reshaping work processes, with an estimated $4.4 trillion economic value attributed to […]
Retail Theft and Consumers
Summary: This article discusses retail shrinkage on the rise, largely attributed to theft, prompting retailers to secure items; however, recent data suggests that this short-term loss prevention approach could lead to significant long-term losses. Retail shrinkage is up, mostly due to theft. Retailers are responding by locking up items. New data suggests that short-term loss […]