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AFFLUENT SHOPPER SNAPSHOT REPORT ON DEPARTMENT & LUXURY DEPARTMENT STORES: The essential guide to trends in retail shopping in department stores & luxury department stores

Affluent Shopper Snapshot Report: Department Stores & Luxury Department Stores, including websites

Learn how to tap the spending power of affluent shoppers in department stores & luxury department stores and websites

Post-recession retail is in the doldrums. The National Retail Federation (NRF) just downgraded their original forecast for retail growth in 2015. The retail sales for GAFO stores (general merchandise, apparel, home furnishings and other retailers which fill the nation’s malls, shopping centers and main streets and a bellwether of trends in traditional retailing) is on track to grow an anemic 1.3% over 2014

Don’t get caught falling victim to this trend of shopper malaise. Attracting more affluents to your shopping destination is the key to future success. This Unity Marketing Affluent Shopper Snapshot Report examines the affluent shopper and why they shop specifically in department stores and luxury department stores, including the websites of these brands.

Through this understanding retailers will have these answers:

  • How do I attract more customers who have money to spend into my store?
  • How do I appeal to the more moneyed customers who are not going to nickel-and-dime me to death?
  • Even though I don’t sell luxury, I want to appeal to those who can afford luxury?
  • How can I get the affluent to shop more often and to spend when they visit my store?
  • What are some innovative ways other retailers are succeeding with affluent shoppers?
Affluent shoppers with plenty of discretionary income to spend may be the key to driving sales and delivering profits to your department store or luxury department store door. Understanding their mindset is key to designing retail experiences that attract them to your retail destination.

Use this Affluent Shopper Snapshot Report to Help Grow Your Retail Business

Based upon the Affluent Consumer Tracking Study (ACTS) Shopper Track Surveys conducted through 2014 and 2015, this report provides in-depth statistics about how and why affluents shop.

But more than just data, this report delivers analysis about what the key findings mean and how retailers can put the insights into action to more successfully market their stores and reach the affluent shoppers who hold the key to their growth and success.

It includes data and insights about:
  • What motivates affluent shoppers?
  • How to create experiences that encourage affluents to shop in your store, to shop more often and to spend more money?
  • How to capture customers shopping in other places?
  • What important shopping experiences you may be missing out on?
Plus the Affluent Shopper Snapshot report provides inspiration drawn from case studies of specific retailers that are doing a top notch job targeting the affluent shopper.

Internal CRM data tells you only about the customers you have, not the ones that walk by your doors. This new Affluent Shopper Snapshot report fills that gap in your research.


Chapter 1: Affluent Shoppers in 2015
Overview
Affluents Enjoying the Little Things in Life – Resisting the Temptation to Over-Spend & Liking It
Demographic Forecast: Luxury Drought
Figure 1: Dent Research, Consumer Spending by Age
Figure 2: LCI Historical 1Q2004-present
El Nino and the Millennials- the Short and Long of It
Chapter 2: Retail & Affluent Consumers in Perspective
Retail Sales Growth Flattening
Figure 3: GAFO Retail Sales & Growth 2007-1Q2015
GAFO Retail Sales in 2015
Figure 4: GAFO Store Sales YTD 2015-2014
Figure 5: Fastest Growing Retailers 1Q2015
Tracking Consumers’ Personal Consumption
Figure 6: Personal Consumption Quarterly Change 2008-1Q15
Figure 7: Personal Consumption Expenditures 1Q15 Percent. Change Previous Period, details
Latest U.S. Census Reveals Affluent Consumer Segment is fastest growing
Figure 8: Number of Households and Average Income 2010-2013
Number of Ultra-affluent households grew by one-third since 2010
Figure 9: Households by Income & % Change 2010-2013
Affluents Account for 20% of Households, but over 40% of all Consumer Spending
Figure 10: Share of Consumer Expenditures Attributed to Affluents, 2012-2013
Marketers’ Take Away>>
Chapter 3: Affluent Shopping Overview
Figure 11: Shopper Track Survey Sample Demographics
Overview
Key Trends Shaping the Future of Retail Catering to Affluent Shoppers
Marketers’ Take Away>>
Trends in Where Affluents Shopped
Figure 12 Trends in Where Affluents Shopped
Trends in Affluent Experiential Purchases
Figure 13: Trends in Affluents Experiential Purchases
Trends in How Often They Shopped by Type of Shopping Experience
Figure 14: Trends in Average Number of Shopping Occurrences by Type of Shopping Experience
Trends in How Much Affluents Spent in Last Shopping Experience by Type
Figure 15: Trends in Spending on Last Shopping Occurrence
Trends in Extended Spending by Type of Shopping Experience
Figure 16: Trends in Projected Total Spending by Type of Store
Projected Spending by Major Category of Experiences
Figure 17: Trends Spending by Major Category of Shopping Experience
Shopping Overview Details
Figure 18: Shopping Overview Details
Online vs. In-Store Shopping
Figure 19: Online vs. In-Store Shopping
Who Affluents Shopped with In Store
Figure 20: Who In-store Affluents Shopped With
How Paid for Last Purchase
Figure 21: How Affluents Paid for Last Purchase (credit card, cash, debit, etc.)
Reasons for Last Shopping Occurrence
Figure 22: Reasons for Most Recent Shopping Experience
Loyalty Rewards Collected and Used
Figure 23: Loyalty Rewards Collected or Used
Shopping Experience Detail
Figure 24: Shopping Experience Detail, 2015
Chapter 4: Overview of How Affluents Shopped at General Merchandise Stores
Overview
Figure 25: General Merchandise Stores Usage & Occurrences Overview
Figure 26: General Merchandise Stores Overview
Chapter 5: Department Store Detail
Overview
Figure 27: Department Store & Website Shopping Summary
How Shopped: In-store or Online?
Figure 28: Department Store Last Shopping In-store or Online
Who They Shopped with?
Figure 29: Department Store Last Shopping by Self, with Family or Friends
What Bought in Most Recent Shopping Experience
Figure 30: Category Shopped for in Most Recent Shopping Occurrence
Home Goods Shopped For
Figure 31: Department Store Home Items Bought
Clothing Items Shopped For
Figure 32: Department Store Clothing Items Bought
Fashion Accessories Shopped For
Figure 33: Department Store Fashion Accessories Bought
Jewelry Items Shopped For
Figure 34: Department Store Jewelry Items Bought
Beauty Items Shopped For
Figure 35: Department Store Beauty Items Bought
Distribution of Spending on Most Recent Shopping Experience
Figure 36: Department Store Spending
Form of Payment: Cash, Credit Cards, Store Credit, Debit
Figure 37: Department Store Method of Payment
Use of Rewards
Figure 38: Use of Rewards
Reason for Most Recent Shopping Experience
Figure 39: Department Store Reason for Shopping
Mass & Discount Store Brand Usage
Figure 40: Mass & Discount Store Brand Usage
Marketers’ Take Away>>
Chapter 6: Luxury Department Store Detail
Overview
Figure 41: Luxury Department Store & Website Shopping Summary
Marketers' Take Away>>
Figure 42: Department Store & Luxury Department Store Comparison Usage & Spending
How Shopped: In-store or Online?
Figure 43: Luxury Department Store Last Shopping In-store or Online
Who They Shopped with?
Figure 44: Luxury Department Store Last Shopping by Self, with Family or Friends
What Bought in Most Recent Shopping Experience
Figure 45: Luxury Department Store Purchases by Department
Marketers’ Take Away>>
Figure 46: Department Store & Luxury Department Store Comparisons Type of Items Bought
Home Items Shopped For
Figure 47: Luxury Department Store Home Items Bought
Clothing Items Shopped For
Figure 48: Luxury Department Store Clothing & Apparel Items Bought
Marketers’ Take Away>>
Figure 49: Department Store and Luxury Department Store Comparison Clothing Items Purchased
Fashion Accessories Shopped For
Figure 50: Luxury Department Store Fashion Accessories Items Bought
Jewelry Items Shopped For
Figure 51: Luxury Department Store Jewelry & Watch Items Bought
Beauty Items Shopped For
Figure 52: Luxury Department Store Beauty Items Bought
Distribution of Spending on Most Recent Shopping Experience
Figure 53: Luxury Department Store Spending
Form of Payment: Cash, Credit Cards, Store Credit, Debit
Figure 54: Luxury Department Store Method of Payment
Use of Rewards
Figure 55: Use of Rewards
Reason for Most Recent Shopping Experience
Figure 56: Luxury Department Store Reason for Shopping
Luxury Department Store Brand Usage
Figure 57: Luxury Department Store Brand Usage
Marketers’ Take Away>>
Appendix A: Spending Details by Demographic Segment
Most Recent Occurrence Spending by Gender
Figure 58: Affluent Spending on Last Shopping Occurrence by Gender
Figure 59: Affluent Spending Last Shopping Occurrence by Gender, Details 2014-2015
Most Recent Occurrence Spending by Age
Figure 60: Affluent Spending on Last Shopping Occurrence by Age
Figure 61: Affluent Spending Last Shopping Occurrence by Age, Details 2014-2015
Most Recent Occurrence Spending by Income
Figure 62: Affluent Spending on Last Shopping Occurrence by Income
Figure 63: Affluent Spending Last Shopping Occurrence by Income, Details 2014-2015
Appendix B: Affluent Survey Methodology
Affluent Shopper Track Survey Overview
Figure 64: Income Sample
Survey tracks trends in 4 retailer and service categories in luxury market
Sample Demographics
Net Worth
Figure 65: Net Worth
Gender
Figure 66: Gender Distribution
Age Distribution
Figure 67: Age Distribution
Occupation & Employment
Figure 68: Occupation
Other Demographic Variables
Figure 69: Educational Attainment
Figure 70: Marital Status
Figure 71: Affluents' Life stage
Figure 72: Home Ownership
Figure 73: Ethnicity

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