2014-03-13 19:28:01 - UK Retail Occasions: Valentines 2013 - a new market research report on companiesandmarkets.com
Almost a third of consumers in the United Kingdom said that they spent less this Valentine´s than the year previous. Linked-to - and perhaps a by-product of - much more constrained financial circumstances is a rising sense of cynicism surrounding the occasion. A high proportion of consumers place very little personal importance to the occasion, with the majority believing it to be a waste of money.
Despite a high level of cynicism, over half of shoppers purchased at least one product for Valentine´s. The occasion has evolved to the extent that consumers feel a sense of obligation to purchase products, regardless of their personal level of apathy. This provides potential opportunities for retailers that can successfully tap into these feelings; for
example through taking a different approach in marketing and fostering greater inclusion.
With traditional last-minute purchasing remaining a key characteristic of Valentine´s purchasing, successfully driving impulse purchasing through innovative, interesting ranges can make all the difference. Almost one in five consumers feel under pressure to buy the right thing yet almost a quarter find it difficult to purchase the right products.
This report provides an in-depth understanding of how consumers behaved over Valentines 2013: what did they buy, why did they buy it and where did they shop, are all examined. In addition, the report examines people´s opinions of retailers and of what they are looking for when buying Valentine´s products. The report is driven by unique consumer data and interviews.
Our Retail Occasions series helps you to understand how consumers are shopping across the various events and occasions in the retail calendar. For each occasion we analyze the results of a large consumer survey to understand what´s happening and what it means for you.
Key Market Issues
1. Understand what´s being purchased
We explore what products people are purchasing for each of the key occasions and analyze the penetration rates for key categories. A wide range of products are covered including food, gifts, clothing and goods for the home.
2. Understand where it´s being purchased
We monitor which retailers consumers have visited for each of the occasions, what they have used those retailers for and what they thought of them. We analyze retailer customer share both overall and by product category.
3. Explore what´s being spent
We examine how much people are spending and intend to spend across the various categories and products and how this differs to previous years. We also look at total household budgets for the various occasions.
4. Understand how people are celebrating
We take a broad look at what people are doing for the various occasions, how they intend to celebrate them and how these things are influencing and affecting their retail and buying behavior.
5. Explore key issues by demographics
We analyze all of the above at an overall level but also provide a breakdown by key demographics as well as by region. On a bespoke basis we can also isolate and explore specific consumer segmentations.
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