While there is nothing trivial about retail, there’s a great deal to be learned from retail trivia. Here are four statistics on consumer behavior. They show shoppers are drawn to premium electronics and will pay extra for organic foods, but also still drive to different stores to get low prices and take advantage of sales.
Did you know that the presence of an Apple Store can increase a mall’s sales by 10 percent?
According to The Wall Street Journal, Apple Stores’ reputation for drawing in customers allows them to secure low rents at the malls where they operate. The downside? Some retailers find their own rents increase when Apple is at the mall, and these retailers don’t always attract Apple customers.
Did you know that the average bill for holiday presents is $800 in the United States?
The Friday after Thanksgiving isn’t known as “Black Friday” for nothing. After all, $800 equals a month’s housing payment for many people. The National Retail Federation also says that 80 percent of holiday shoppers will use a credit card to pay for some of these gifts.
Did you know that 41 percent of Americans who shop at upmarket food stores also shop at either big-box or dollar stores?
According to an article by The Hartman Group on Forbes.com, many shoppers don’t restrict themselves to one type of food retailer. Instead, they shop for groceries at different retailers. For example, some folks who normally shop at Walmart may still want to buy the unique, high-quality fresh items (such as grass-fed beef or organic produce) at places like Whole Foods. At the same time, consumers remain value-conscious. Once they try an organic or natural brand, they’ll start looking for it at big-box or discount stores.
Did you know that the average U.S. consumer makes 1.6 trips to the grocery store each week? Interestingly, most of these are “quick trips” to grab a few items, while only about 10 percent are for stocking up on necessities.
According to Statista.com, consumers prefer to shop at stores that offer low prices, along with good promotions and sales, and convenient locations.