Study looks at relevance of retailers to consumers
Has the down economy made a bargain brand shopper out of you? Or are you still loyal to a favorite retailer, even though they may ask you for a little more money? A recent survey of retailer relevance highlights America’s go-to shopping venues.
‘The four ingredients of relevance’
Data for the “Brodeur Partners’ Retail Relevance Top 10” study, released Thursday, was culled from interviews with more than 2,000 shoppers, ages 18 to 65. The participants in the survey were asked, through a series of questions, to rank the “most” and “least” personal relevance they attached to 21 of the nation’s top retailers. The rankings were determined in four different categories: practicality, values, sensory appeal and social appeal.
Andy Coville, the Chief Executive Officer of Brodeur Partners, said:
“These are four ingredients of relevance that you look for in everything, from a Google search to a product, candidate, cause, or place to shop.”
The relevance of retailers to consumers with online shopping
The study found that Amazon.com, which excelled in the “practical” category, is the nation’s most relevant seller.
Jerry Johnson, Brodeur Partners’ executive vice president of strategic planning, said:
“The case of Amazon.com highlights the incredible power of e-commerce in the retail world of today. It shows how technology can move a retailer from specialty online bookstore to one that people view as more practical and value-driven than Wal-Mart, the world’s largest retailer.”
Colville added that Amazon “has clearly cracked the code when it comes to being relevant to American shoppers.”
Targeting the senses
Target fell just below Amazon as the second most relevant retailer. The box store ranked highest in the sensory appeal category.
“Clearly there’s something shoppers find exciting about Target, its store design, merchandise and messaging. That is reflected in its high sensory ranking.”
The eight less-relevant retailers
Retail giant Wal-Mart, which scored second highest in “practical relevance,” came in third, overall. It was trailed by Best Buy, Costco, Kohl’s, J.C. Penney, Macy’s, Walgreens and Apple.
Relevance equates with growth
Brodeur Partners postulates, based on data from more than one year, that a higher “relevance” score generally equates with growth and superior performance from a retailer. The strategic communications firm works with other companies to aid them in raising their “relevancy” rating.
Shoppers more practical with age
The study indicates that practicality is an over-riding factor for consumers when selecting retailers in the downward economy. The study also found, however, that the “practical” factor loses relevance among younger shoppers.