New York SBDC Research Network

From eMarketer An April 2018 study of US retailers by Retail Systems Research (RSR) found that pricing concerns far outstripped other issues. Keeping up with the competition’s prices was the No. 1 challenge, cited by 58% of respondents. When asked about their top three business challenges, 65% of retailers cited "aggressive competitors of like items make price our primary demand driver." And 60% cited "increased consumer price sensitivity." Those two challenges were the only ones cited by more than half of the respondents. But pricing pressures were more acute in some sectors than others. In particular, the study noted that fashion and apparel retailers were much less likely to be focused on pricing parity (at 39%) and tended to be more concerned about minimizing markdown spend (48%).

From MarketingProfs In a world where consumers are more likely to shell out for concert tickets than buy their favorite band's merchandise, there's no doubting the power of experiences. Consumers today want a brand they patronize to enrich their lives, not just fill their closets or decorate their walls. That's why brands were predicted to increase their spending for experiential marketing 11% in 2017—nearly double from just two years ago. That said, to deliver truly transformative experiences, brands must challenge the traditional take on events and tradeshow exhibits. We're entering a new generation of experiential marketing that considers cultural context, program timing, content development, and positioning within a brand's long-term business objectives. Using better insights to expand your experiential efforts, you can go beyond the places your brand normally advertises and activates.

From MarketingProfs Many Americans say technology has made them more impatient today than they were five years ago, according to recent research from Fetch and YouGov. The report was based on data from a survey of a YouGov poll conducted in May 2017 among 2,489 US adults age 18 and older. Some 41% of respondents say technology has made them more impatient than they were five years ago. Among Millennials, the proportion is 45%. Only 26% of respondents say they would wait longer than 30 minutes for takeout food, and 41% of consumers say they would not wait longer than 15 minutes for a ride requested via a mobile app. Check out the infographic for more findings from the poll...

I love Advertising Age magazine. Several of us read our office subscription. The October 11, 2010 edition is The Consumer Issue, and contains several useful articles, including: How U.S. Assimilation Is Changing Marketing Rules Will Ad Industry's Opt-Out Program Entice Consumers? Marketers Still Struggling With Mommy Issues - they fail to recognize mommy is likely older, e.g. Don't Be So Quick to Dismiss Power of Asian Consumers 'Urban' Trope Misses a Large Swath of Black Consumers Tweens Embrace Makeup, Reject Miley Media-Savvy Gen Y Finds Smart and Funny Is 'New Rock 'n' Roll' There is a finite nymber of articles you can access online without a subscription. One suggestion: How U.S. Consumers Are Steering the 'Spend Shift' Five Eye-Opening Takeaways From an in-Depth Analysis on How Americans Are Changing in a Post-Crisis Society 1. The New American Frontier -- the values of optimism, resiliency and opportunity 2. Don't Fence Me In -- the ...

Marketing, sales and customer service don’t share information, according to Economist Intelligence Unit surveys . A series of surveys across six industries— financial services, technology, telecommunications, utilities, consumer goods and retail —reveals that most companies still fall short when trying to deliver value consistently in all the functions that interact with customers. In other words, cautionary tales.

Already getting swept up in the Christmas blitz of stuff, this morning I opened my email to find a message from a friend with this link to a short film that I thought was very relevent. I thought I would share it here. This is from the Story of Stuff website describing their intentions: "The Story of Stuff is a 20-minute, fast-paced, fact-filled look at the underside of our production and consumption patterns, with a special focus on the United States. All the stuff in our lives, beginning from the extraction of the resources to make it, through its production, sale, use and disposal, affects communities at home and abroad, yet most of this is hidden from view. The Story of Stuff exposes the connections between a huge number of environmental and social issues and calls for all of us to create a more sustainable and just world. It'll teach you something. It'll make you laugh, and it just may change the way you look at all the stuff in your life forever." There is a d...