CivicScience’s Post

Let’s see what this week's Polar Analytics' benchmarks have to show for these different industries: 👗 Fashion is getting smarter at selling: less spending on ads and better returns, even if customers are buying less per order. 💄 Health & Beauty is on to something: more people are buying even though brands are spending less to catch their attention. 🛏️ Home & Garden is seeing some wins with their ads making more money, even if not everyone's buying and it's costing a bit more to get them to look. 🎾 Sporting Goods finds a sweet spot: even with fewer buyers, those who do shop are spending big, making all that ad effort worth it. It's all about finding the right balance—getting people interested, making a bit more from each sale, and figuring out how to do it without breaking the bank. Subscribe to get these benchmarks and insights emailed to you weekly: https://bit.ly/47V83Eb

In the ever-evolving beauty industry, trends and consumer preferences fluctuate like shades on a palette. Understanding the intricate layers of shopper behavior is key for manufacturers and retailers seeking to empower and resonate with their shoppers. Here we take a look at ways to adjust and collaborate with shoppers as they become more rational in their shopping behavior. #ExplorerResearch #Insights #ShopperBehavior #MarketResearch https://hubs.li/Q02lZZlC0

Did you know that consumers visit a store for reasons beyond just making a purchase? 🏪🛒 Our study "Purchase Occasion Segmentation" reveals seven distinctive Shopping Occasions, each with its unique triggers. From quenching thirst to occasional indulgence, these reasons offer valuable insights into consumer behavior! ⭐ Do you want to stay updated on industry trends and the latest insights? Find the link to our full study in the comments. 😉👇🏻 #MarketResearch #DataAndAnalysis #BrandPositioning #MarketStudies #DataAnalytics #MarketTrends #BusinessStrategies

🌟 Understanding Consumer Shifts: Insights from our Recent Poll 🌟 The pulse of consumer spending habits amid the evolving economic landscape reveals fascinating insights. 📊 Here's a breakdown of our poll results and what they signify for the fashion and retail sector: 1️⃣ 𝐎𝐧𝐥𝐲 𝐛𝐮𝐲𝐢𝐧𝐠 𝐞𝐬𝐬𝐞𝐧𝐭𝐢𝐚𝐥𝐬 (𝟓𝟖%):   In an era of economic uncertainty, prioritising needs over wants becomes paramount. This trend underscores the resilience of consumers in adapting to financial challenges. Retailers can tailor their offerings by emphasising quality, durability, and value, aligning with the essentials-focused mindset.   💡 𝑻𝒊𝒑: Emphasise versatility and longevity in product lines to resonate with consumers seeking enduring value. Explore innovative ways to enhance the utility and sustainability of your offerings. 2️⃣ 𝐁𝐮𝐲𝐢𝐧𝐠 𝐜𝐡𝐞𝐚𝐩𝐞𝐫 𝐝𝐮𝐩𝐞𝐬 (𝟐𝟎%):   The pursuit of affordability without compromising style has led many to explore alternatives in the form of dupes or substitutes. This shift signifies a nuanced approach to consumption, where value perception plays a pivotal role. Retailers can leverage this by offering budget-friendly options without compromising on design integrity.   💡 𝑻𝒊𝒑: Curate collections featuring budget-friendly alternatives while maintaining quality standards. Highlight the unique value propositions of your products to differentiate them from generic counterparts. 3️⃣ 𝐍𝐨𝐭𝐡𝐢𝐧𝐠 𝐦𝐮𝐜𝐡 𝐡𝐚𝐬 𝐜𝐡𝐚𝐧𝐠𝐞𝐝 (𝟏𝟗%):   While a segment remains relatively unaffected, their stance offers valuable insights into consumer sentiment and stability. Understanding their preferences and motivations can provide a benchmark for gauging market dynamics and identifying areas for innovation and differentiation.   💡 𝑻𝒊𝒑: Engage with this segment to uncover underlying preferences and evolving needs. Leverage data analytics and customer feedback to anticipate future trends and tailor strategies accordingly. As we navigate the complexities of the current economic climate, these insights serve as guiding beacons for industry players. By staying attuned to shifting consumer behaviours and preferences, we can adapt and thrive in an ever-changing marketplace. Let's continue the conversation in the comments section! 💬 #ConsumerInsights #RetailTrends #EconomicAdaptation #SpendingHabits #Retail #WITZPoll

Brands like Anthropologie leverage Earnest for real-time, data-backed insights on the market, customers, and competitors. See what Earnest data can do for you: https://lnkd.in/emSJCHkU #retail #alternativedata

Barbie's not just a pretty face. Data Impact by NIQ is spilling the tea on how the Barbie movie boosted sales charts and left beauty and wellness brands shook. 💅 Check out the wild ride of category trends that came straight outta Barbieland. 💋💖 #Barbiemovie #Barbie #ecommerce #digitalshelf #analysis

Placer.ai tracks up-to-date consumer location intelligence and demographic insights to identify different trends in the retail market to better analyze past performance, as well as forecast the future. For this report, Placer.ai details the top 10 retail brands to watch in 2024. The list includes a variety of companies, from New Balance ditching the "Suburban Dad" demographic and becoming more fashionable, to Trader Joe's continued success with the younger generations due to the company's focus on sustainability and social responsibility rather than typical marketing efforts. What brands do you think will have a great year in 2024 that Placer.ai missed? Be sure to read the report at the link below to see what other companies made the cut. #DTMGroup #retail #CRE #commercialrealestate #wisdomwednesday

Barbie's not just a pretty face. Data Impact by NIQ is spilling the tea on how the Barbie movie boosted sales charts and left beauty and wellness brands shook. 💅 Check out the wild ride of category trends that came straight outta Barbieland. 💋💖 #Barbiemovie #Barbie #ecommerce #digitalshelf #analysis

Barbie's not just a pretty face. Data Impact by NIQ is spilling the tea on how the Barbie movie boosted sales charts and left beauty and wellness brands shook. 💅 Check out the wild ride of category trends that came straight outta Barbieland. 💋💖 #Barbiemovie #Barbie #ecommerce #digitalshelf #analysis

🛍 Recognizing the importance of the Black consumer to the beauty industry is crucial for understanding the category’s dynamics. This segment of consumers has a unique influence over beauty and outspend the average consumer in key categories. 💄 According to NielsenIQ data, in 2023 Black consumer spending on Beauty products amounted to $9.4 billion, with dollar, unit, and household growth outpacing growth for the US at large. This growing cohort currently accounts for an estimated 14.4% of the US population, which is a 32% increase since 2000. 💡 Understanding the needs and consumer behavior of this dynamic segment should be a key factor in any beauty brand and retailer strategy. New NielsenIQ insights now available- https://lnkd.in/dTAVwf6A #beauty #data #insights #retail #blackbeauty