Customers veer towards new fashion retailers

20 Mar '13

5 min read

“For all of the focus on discounts and deals to drive shopping in this post-Great Recession environment, it’s a testament to see how much satisfaction is the retail industry’s real growth engine. These consumers are the ‘gift that keeps on giving.’ They come back more often, they buy more when they do, and they recommend the store to their friends,” said Janet Eden-Harris, chief marketing officer for Market Force. “In our findings, consumers who gave a five out of five satisfaction score were six times more likely to recommend the retailer to others than those who gave a four out of five. Focusing on great service and in-store execution is the best investment a retailer can make to grow same-store sales.”

Social Media Playing Diminishing Role

While social media has a role in driving consumers’ shopping choices, it appears to be waning somewhat in its influence. For the most part, conversations with friends are more impactful than the social content pushed by the retailer. When compared with its 2011 findings, Market Force’s study found a slight drop in those who said social media is extremely or highly influential when deciding where to shop for clothes and accessories.

Still, many are turning to social media for retail research and information sharing. Nearly half of respondents (42%, up from 37% in 2011 and 11% in 2010) said they use social media to find information about fashion retailers, and 12% (up from 7% in 2011) said they have posted about a fashion retailer on social media.

Spending Trends

Some additional research indicators point to consumers being more bullish in their spending. As a case in point, the number of survey respondents who consider themselves ‘fashionistas’ increased in this year’s study, while the number who characterize themselves as ‘minimalists’ decreased. Not surprisingly, ‘fashionistas’ spend the most on clothes and accessories, with 68% spending over $100 a month and 19% spending over $250 a month.

Survey Demographics

The survey was conducted in February 2013 across the United States. The pool of 4,000 respondents reflected a broad spectrum of income levels, with 60% reporting household incomes of more than $50,000 a year. Respondents’ ages ranged from 18 to over 65. Approximately 40% were men and 60% were women and nearly two-thirds are married.

Market Force Information

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