Tag Archives: Deloitte

Report Reveals What’s Hot and What’s Not in Back-to-School Shopping Trends

By: Kazon Robinson

Like with all things sales come and go, bargains come and
go, and clearance prices come and go. Whether it is the craze-induced Black
Friday sales or Cyber Monday, all companies will agree that they want their
products to be bought.
However, that plan won’t always work and sometimes there
will be less consumers wanting to buy a company’s products that season.
Sometimes people won’t want to invest their money into those sales despite the
occasion. An example of that is scene in back to school shopping seasons.
In fact, a recent
report
from Retail Customer Experience tells of the change in consumers. The
report references the use of annual Deloitte’s and National Retail Federation’s
survey on school related spending. Some of the information from Deloitte
includes:
??        
Compared to college students, shopping for K-12
is seen as less important. Plus college students are more likely to buy
throughout the school year.
??        
Consumers are not as driven by discounts
??        
Consumers are more likely to make purchasing
decisions prior to being at the store with digital services playing a stronger
role.
??        
Consumers are no longer driven solely by
discounts.
Next up is the National Retail Federation which lists its
own pieces off information:
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The average family with children grades K-12
will spend less. The number going from $669.28 to 630.36
??        
The total amount of spending expects to reach
24.9 billion.
??        
Due to the economy over 76.4 percent of families
with school-age children will change their spending.
??        
Families will spend up to $117.56 on new shoes.
Deloitte summarizes one similar point which is about the
consumer’s changing patterns. Unlike the previous year where they had gotten
better results. Deloitte LLP Vice Chairman and Alison Paul state in a report, ‘Consumers
are sending a message to retailers that says the back-to-school shopping season
just isn’t that important anymore”
As for the National Retail Federation they also imply this
change in the consumer’s patterns. NRF President said in a release, ‘As seen
over the last 13 years, spending on ‘back-to-school’ has consistently
fluctuated based on children’s needs each year, and it’s unlikely most families
would need to restock and replenish apparel, electronics and supplies every
year.’
Sales come and go, but like with all things, so do customers
thoughts on what should be bought and what shouldn’t be bought. The digitalized
marketplace and the impact of the economy show how the customer is effected in
so many ways beyond the surface level. With that in mind corporations must
always be ready to innovate and seek ways such as free shipping or same-day
delivery to entice customers.

About the Author:
Kazon Robinson is currently a Marketing Intern at IIR USA and a high school student at
All Hallows. Kazon helps oversee and revise the data entry of spreadsheets with
information relating to investors, twitter handles, and conferences. He also
has experience interacting with other writers from participating in the AH
Writers and Authors Club. He has previously worked at Bronxworks Betances
Community Center as an Office Assistant where he provided professional service
and directions for callers. He can be reached atkrobinson@iirusa.com 

Live from #TMRE13: The Big Shift: How the World is Changing and What You Need To Do About it

Christopher Gong, Senior Editor and Maggie Wooll Senior Editor and Chris Grames, Research Fellow, Deloitte Center for the Edge spoke today about the Shift that is Happening in the Predictive Insights
& Futuring Track at the Market Research Event.

Knowledge is being created and shared in a flow faster than ever before. Their change index has over 25 areas that are being examined to track this change.

Technology is blending and melding the digital and physical worlds like for example genomic data and driverless cars. Boundaries are blurring not just between industries but between the physical and virtual world.

So how do you create identity in this changing world as an individual?

The pace of these accelerating tech trends are being adopted faster than ever as well.

One trend is being looked at is Dematerialization. The concept of things that used to exist as material things are now in existence as an information product such as a Single CD is purchased as file that is stored on your phone.

Re-materialization: 3D printing for example. There is now a whole ecosystem of designers online creating and sharing printable products. The biomedical industry is particularly interested in this space.

Information flows freely between atoms and bits and vice versa.

Digital Identities


Transmedia: Video games as movies.

Physical identities are blurring with digital identities: cosplay, avatars, Facebook profile images.

Technology has changed. We have not.

We need human connection, respect, love…however, it’s how we are we meeting these needs that is changing.

I am what I share:

Technology has not invented sharing only the scale and medium.What we share allows us to curate our identity as to how we want to be perceived.

If you allow people to share and craft their identity using your brand or product they will gravitate toward those services.

It’s not only what is being shared but also how people respond and engage with what is being shared. Social currency and credibility is being built thus way.

People can build on what you share.

I am what I personalize:

Nike & Reebok: design your own is a growing part of ecommerce that allows both ownership and builds brand equity.

Dodge Dart is a crowdfunded car that is payed for by the community and customized to order.

I am what I create and Participate In:

The Maker Movement: Any one can “make” an object or design something created by them.

Etsy is a site that allows users to create and sell their own products where as that used to be considered a hobby or side passion. We all have the desire to create but not every one has the talent to create for ourselves.

Kickstarter: is where dreams go to live and allow other people to participate and fund projects to come to life. The line between consumers, makers, sellers are being blurred.

The distance between creators and consumers is shrinking and your going to hurt if you’re the middleman.

How to build trust?

DREAMS: Declared. Rated. Engaged. Activity. Moderated. Social.

ABOUT THE AUTHOR

  Valerie RussoFormerly a senior copy editor at Thomson Reuters, a research editor at AOL,  and a senior web publicist at Hachette Book GroupValerie M. Russo is editor at large of The Front End of Innovation BlogThe Market Research Event BlogThe World Future Trends Tumblr, the Digital Impact Blog, and also blogs at Literanista.net. She is the innovation lead and senior social media strategist for the Marketing and Business Strategy Division of the Institute for International Research, an Informa LLC., and her poetry was published in Regrets Only on sale at the MOMA Gift Shop. Her background is in Anthropology and English Literature. You can reach her at vrusso@iirusa.com or @Literanista.

Deloitte takes a look at mistakes when companies build communities

WSJ Business Technology recently took a look at Deloitte’s recent study published on why online communities fail. According to the Deloitte study, many businesses are focusing on what online communities can do for them and the technology to support it, not the members the online space is built for. Of the communities studied, 35% have less than 100 members. Less than 25% of the communities studied have 1,000 members. An astounding 6% of the companies studied spent over $1 million on their projects.
So why is it that so many of the online communities are failing?
1) Many of the companies are getting to involved on the technological perks spending their budget there instead of reaching out to potential community members and finding out what they want from a community2
2) Lack of experience with online communities’ leads to misguided decisions. Of the companies studied, 30% had one person who was working part time with the communities.
3) It’s very hard to measure the success of an online community. The primarily objectives of the business with communities was to create word of mouth and establish loyalty from their customers. This is very hard to judge when normal online measurements are judged by the click-tos.
Have you fallen into one of the pitfalls listed above? How would you work with your online community to resolve the issue?