Retail Details: History, Psychology, Business All Affect the Industry

by Talk Business & Politics ([email protected]) 76 views 

Retail is interdisciplinary. History, psychology, business, marketing, sociology, computer science — all have an impact on retail success. This issue’s trivia is likewise interdisciplinary, with statistics about how consumers like to cook, what they like to drink and how they shop.

Did you know a multipack of Wrigley gum was the first product marked with a UPC code and scanned at a retail store? It was 8:01 a.m. on June 26, 1974, at the Marsh supermarket in Troy, Ohio.

Did you know that a recent survey showed that 48 percent of Americans between the ages of 18 and 24 reported drinking coffee within the past day? Furthermore, other surveys show that Americans have no desire to cut back on coffee, even if they feel that they are “addicted.”

Did you know that in a recent survey, 44 percent of consumers in the United States said they prefer mobile shopping apps to mobile-compatible websites? Retailers take note and get to work on a custom mobile app if you don’t already have one.

Did you know that analysts predict that by 2019, 12.4 percent of global retail sales will be online? In 2015, e-commerce sales jumped by 25 percent, reaching $1.7 trillion, according to a forecast from independent research firm eMarketer.

Did you know that a recent study showed that many millennials, 5 million to be exact, don’t have checking accounts? Why? Many distrust banks and are more comfortable having their wages deposited directly to debit cards.

Did you know that parents of school-age children are checking for coupons and sales for school clothing and supplies? According to the National Retail Federation, 28 percent of parents surveyed said they’d be using more coupons than last year. Twenty-five percent indicated they would be paying close attention to print advertising circulars and advertising so as to not miss the best deals.

Did you know that 44 percent of stores use a mobile point of service system for processing customer sales? Those who run mobile registers prefer to use iPads.