What Retailers Need to Know about Back-to-School and College Spending
Executive Summary: As the back-to-school and college shopping season unfolds, new survey data sheds light on consumer spending trends and behaviors for 2024. This year, spending continues to be a significant retail event, driven by both necessity and seasonal shopping patterns. • Average back-to-school spending is projected at $874 per family, while college spending averages […]
Customer Preferences in Retail: Private Labels and Brand Loyalty
Executive Summary: This article examines the impact of private labels and consumer brand preference on retail, utilizing data from Prosper Insights & Analytics across various product categories. The analysis spans from 2014 to 2024, providing insights into trends and shifts in consumer behavior. Private label shares vary across product categories, with categories like napkins and […]
Retail Trends, Spending, and July Fourth Celebratory Patterns
Executive Summary: The Fourth of July is the second most popular American holiday, following only Christmas. Key highlights include: 87.2% of respondents celebrate the Fourth of July, the same as 2023. Over 68% of respondents have noticed higher prices, particularly in beverages and food. Celebrators are more likely to be male, married, have children, and […]
Retail Trends, Spending, and Father’s Day Celebratory Patterns
Executive Summary: Father’s Day, observed on Sunday, June 16, 2024, is the sixth most popular American holiday, surpassing Halloween but trailing behind the Super Bowl. While participation in Father’s Day celebrations has remained steady, spending is down, particularly on physical gifts. Demographic factors such as marital status, presence of children, and income strongly influence celebration […]
Retail Trends and Spending for Memorial Day and Graduation
Executive Summary: Memorial Day and graduation celebrations significantly influence consumer behavior, with many adults participating in related activities and spending. Participation in Memorial Day sales has slightly increased, while graduation celebrations have slightly declined. Spending on graduation is rising, although the number of gifts per celebration is decreasing. Key predictors of participation include the presence […]
Retail Membership Clubs: Part Two
Executive Summary: Retail Membership Clubs: Part Two delves deeper into the landscape of retail membership clubs, building upon the analysis presented in Part One. The research incorporates data from the Prosper MBI collected in March and April 2024, shedding light on multiple club memberships, customer motivations, demographics, and the correlation between retail memberships and streaming […]
Retail Trends, Spending, and Mother’s Day Celebratory Patterns
Executive Summary: While Mother’s Day celebration rates have shown stability over the years, there have been notable shifts in spending preferences, with a growing emphasis on experiences and online and local shopping. Understanding celebrator demographics and preferences can guide retailers in catering to this significant consumer segment. Mother’s Day Significance: Mother’s Day is the third […]