If you are like many of our readers, you are either a custom integrator or specialty AV retailer who serve the Affluent ($75,000 per year income and up) market. Two new pieces of market research provide colorful illumination of the holiday shopping plans of Affluents for this coming holiday season.
Research
‘Showrooming’ is in Decline, ‘Webrooming’ on the Rise – Favoring Brick & Mortar Retailers
New data from GfK’s annual FutureBuy survey of shoppers shows a dramatic turn in the effect of “showrooming” (shoppers looking at/picking items in stores, then buying them online) with a decided edge going to brick-and-mortar retailers. The survey tracks omni-channel shoppers – both those engaged in showrooming and those that conduct “webrooming” (shopping an item online, but then buying it in a retail store) – in 17 countries and across 15 product segments…including consumer electronics.
See the surprising results showing a significant swing in favor of retailers… [Read more…] about ‘Showrooming’ is in Decline, ‘Webrooming’ on the Rise – Favoring Brick & Mortar Retailers
Do You REALLY Know What Kind of Behavior Your Customers Expect of You?
A new survey from Cohn & Wolfe – and discussed on MarketingCharts.com – suggests a possible sea change in the expectations of your customers as to the behavior of your company. We’ve seen some other similar surveys…and if you haven’t gotten clued in to this yet – well read on, the results may surprise you…
Do you REALLY know what your customers expect of you? Check out the results below… [Read more…] about Do You REALLY Know What Kind of Behavior Your Customers Expect of You?
Economists Predict Rapid Ramp-Up in Residential Construction
We were fortunate enough to receive an invitation from the National Association of Home Builders (NAHB) allowing us to participate in their annual Fall Construction Forecast presentation, a webinar put on for the benefit of their members last week. Boy! Are we glad we attended! Not only did the organization offer up a roster of world-class economists with really interesting insight into what’s going on in the economy – they also offered reams of really valuable data delineating the latest trends in construction.
Their predictions were – to put it mildly – shocking! Read below to find out why…
[Read more…] about Economists Predict Rapid Ramp-Up in Residential Construction
What Do Homeowners Really Want from a ‘Smart Home’ System?
52% of Americans Say Having a Smart Home is at Least Somewhat Important to Them
In an new study on consumer attitudes about smart home technology, we find some interesting insights. Some seem logical…while others are a bit of a surprise. We were surprised to find out that more than half of all Americans feel that having a smart home is at least somewhat important to them. And 21% – more than one in five Americans – said having a smart home is very or fairly important to them.
Do consumers want a pro to install their smart home tech? Or will they DIY it?… [Read more…] about What Do Homeowners Really Want from a ‘Smart Home’ System?
CEDIA on Latest Market Data, ‘Installers are Having a Good Year’
The Custom Electronic Design and Installation Association (CEDIA) released new preliminary market data at their Expo held earlier this month – in a decidedly more optimistic presentation than in past years. Erica Shonkwiler, CEDIA’s Market Research Manager, was obviously pleased with the data she was to share with the media – and she conveyed an optimism that appears to be due to the new data showing an upturn in CEDIA members’ business results.
Not only was there a business upturn, it was the second year of positive results… [Read more…] about CEDIA on Latest Market Data, ‘Installers are Having a Good Year’
If $100,000 Unexpectedly Dropped into Your Lap, How Would You Spend It?
Imagine for a moment that you won the lottery, or gained an inheritance, of a substantial amount of money…say, $100,000. How would you spend it? That was the intriguing question pollster Harris Interactive asked an online panel of U.S. Internet users. Would they buy a new car? Would they remodel their home to add a home theater? Would they buy a nice present for their spouse? Would they donate some or all of it to charity?
Think you know YOUR customer? Then you better check out this survey – the answers to the above scenario may surprise you. [Read more…] about If $100,000 Unexpectedly Dropped into Your Lap, How Would You Spend It?
In Semi-Annual Update, CEA Says Industry Sales Will Hit New High
The Consumer Electronics Association (CEA) maintains a semi-annually updated forecast for all major categories of consumer electronics and has announced the results of their latest update for July saying the industry will hit another new high watermark in industry-wide sales. In a minor revision of their initial January 2014 forecast, the CEA now says total industry shipments in dollars will total $211.3 billion.
What product categories are driving this growth? See more below… [Read more…] about In Semi-Annual Update, CEA Says Industry Sales Will Hit New High
Streaming Music is Even More Popular Than You Think
Just about every dealer and integrator (and manufacturer, for that matter) is acutely aware of how popular streaming music is with their clients/customers. Now, new industry statistics, reported on by market researcher eMarketer, provides a dramatic indicator of just how popular streaming music has become. And it is likely much more popular than you could imagine.
Just how popular are streaming music services? See below for some dramatic numbers… [Read more…] about Streaming Music is Even More Popular Than You Think
Huge Growth in Q4 Branded Video Views for Electronics; Are You Using This Tool?
In a new report from research firm Visible Measures and reported on by eMarketer, views of branded videos in the fourth quarter last year jumped an impressive 50% in the year-over-year (YoY) period and an even more impressive 60% as compared with third quarter results. In looking over the report, we couldn’t help but notice that the industry that earned the greatest share of this dramatic growth was electronics.
