New Retailing research report from Verdict Research is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 10/23/2013 -- Shifting trends in the way in which we consume music&video have led to a continuing decline in the sector's share of shoppers, which has now fallen from half to one-third of all UK consumers. More than ever, music&video consumers are looking for more immediate gratification, with convenience making significant gains on the two longstanding key drivers of loyalty: price and range.
Scope of this Report:
- Identify how main players in music&video drive loyalty and which stores are favoured by disloyal customers, to improve your own shopper penetration.
- Understand which strategies are most effective at driving customer loyalty and justify your own business investments.
- Data is segmented regionally and by demographic and socioeconomic group to enable you to identify which customer groups offer the most opportunities.
Having peaked in 2009 at 49.9% of all UK shoppers aged 16 and over, the percentage of those who class themselves as regular music&video shoppers has fallen to 32.9% in 2013. This reflects a shift in consumption patterns among British shoppers, with many more now using subscription services as opposed to turning to retailers.
View Full Report Details and Table of Contents
More affluent consumers have recorded an increase in their share of the market over the historical period, though this is down to ABs maintaining their level of spending and other socioeconomic groups, particularly DEs, spending less, rather than a notable increase in spending among wealthier shoppers.
With many retailers improving their ranges and with prices evening out somewhat due to the removal of LVCR, consumers are now looking for other ways in which to differentiate between retailers to choose which one to use. As a result, convenience as a driver of loyalty has continued to grow.
Reasons to Get this Report:
- How has the profile of the consumers shopping at the main music&video players changed over the past year and what has caused this?
- What drives consumers to shop for music&video at both you and your competitors? What makes them disloyal?
- How many other stores do your shoppers use for music&video and what stores are these? Will these be a threat going forward?
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Retailing research reports at Fast Market Research
You may also be interested in these related reports:
- The Future of Retailing in Italy to 2017
- The Future of Retailing in South Korea to 2017
- The Future of Retailing in Brazil to 2017
- Global Music, Video, Book, Stationery and Entertainment Software Specialists Market Size and Forecast to 2017
- The Future of Retailing in US to 2017
- The Future of Retailing in Thailand to 2017
- The Future of Retailing in Denmark to 2017
- The Future of Retailing in Sweden to 2017
- The Future of Retailing in Chile to 2017