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High Value Shopper Study: How Retailers Can Tap Into High-Value Shoppers Survival Strategies In A Down Economy

Sentient Decision Science
October 15, 2009
16 Pages - SKU: SNTT2496735

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Countries covered: United States

High Value Shopper Study: How Retailers Can Tap Into High-Value Shoppers Survival Strategies In A Down Economy

The average female shopper in the US spent less than $1,000 on clothing for herself last year. We identified a segment of High-Value female shoppers who spend at least $4,500 annually on apparel for themselves; exhibit high loyalty to both brands and retailers; and shop on average at least once a week. This High-Value shopper is passionate about clothing and shops as if on a hunt; it is unusual for her to buy full-price. She shops sales, discount stores, and is constantly on the lookout for a bargain. The down economy has not dampened her enthusiasm for shopping; it has triggered the thrill of the hunt and led her to employ new strategies that allow her to continue to shop as frequently as before, while cutting back on the overall dollars she’s spending. We detail four distinct strategies that the High-Value shopper is utilizing to feed her shopping hunger during this recession.

The research also uncovered a second segment with the same psychographic profile but with a substantially lower annual spending profile. The “fashionista on a budget” need to be unique, yet that need is often outweighed by her budget, therefore she is more tolerant of stores that stock “three-of-akind” items than her High-Value counterpart. We detail specific circumstances that encourage the fashionista on a budget to spend.

The research utilized the Sentient Hybrid Research™ approach (research using multiple methodologies) to understand these shoppers’ strategies and to identify ways in which retailers can tap into this mindset to win their sustained loyalty even after the economic downturn. The research was conducted in the second quarter of 2009 by Sentient Decision Science among a broad national sample of shoppers and a specific drill-down qualitative analysis among female shoppers in the Boston metropolitan area.

The findings tell the story of new “survival tactics” that high-value shoppers are employing in a recession economy, their perception of retailer brands, and strategies retailers can employ to capture their attention now, creating long-term relationships with these shoppers into the future.

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High Value Shopper Study: How Retailers Can Tap Into High-Value Shoppers Survival Strategies In A Down Economy

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