NEW YORK, April 14, 2016 /PRNewswire/ -- Summary
Overall average conversion rates have risen to 28.8% from 28.0% in 2013, the highest level in five years. As consumers become more demanding, improvements are being made by retailers to encourage consumers to repeatedly visit. High street retailers continue to grow their product ranges and respond quickly to market trends, ensuring regular newness - driving traffic and in turn conversion rates.
- Identify how main players in clothing drive loyalty and which stores are favored by disloyal customers to improve your own shopper penetration
- Understand which strategies are most effective at driving customer loyalty in clothing and justify your own business investments
- Data is segmented regionally and by demographic and socio-economic group to enable you to identify which customer groups offer the most opportunities
This year the percentage of the population who shop for clothing has risen 1.6 percentage points to 74.6%, boosted by personal tax allowances increasing, GDP growth and a recovery in employment levels. These economic factors have allowed consumers to increase their spend on discretionary purchases - driving footfall into clothing stores.
The percentage of males shopping for clothing has increased to 69.3% from 68.3% in 2013, driven by men paying more attention to their appearance. Retailers are responding to this by growing their fashion-led offer and dedicating more space to menswear in stores, which is aiding growth in the UK menswear market.
Overall loyalty has risen 0.3 percentage points to 80.4% in 2014, with loyalty among 65+s increasing 2.6 percentage points to 84.8%. A gradual shift in consumers making more considered purchases and wanting better value for money through quality, shopping experience and product design has resulted in price falling as a key driver for consumers.
Reasons To Buy
- How has the profile of the consumers shopping at the main clothing players changed over the past year and what has caused this?
- What drives consumers to shop for clothing at both you and your competitors? What makes them disloyal?
- How many other stores do your shoppers use for clothing and what stores are these? Will these be a threat going forward?
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