Purchasing decisions, a battle of the sexes
PORT WASHINGTON, N.Y.— While agreeing on many factors, men and women still value different things when it comes to purchasing decisions.
According to a recent report from the NPD Group, when shoppers of both genders decide to purchase a consumer electronics product the most important thing to them is that the product be the same brand as something they already own. Men regard popularity of the product as their number two reason to purchase a CE product, while women want the product to work with what they already own.
Both men and women say having success with the brand before is the main reason for making an apparel purchase. After that, women regard style more highly, while men look for benefits and features.
When making an athletic footwear purchase, men and women both say "is your style" is the number one reason for buying. "Fit," "solutions," and "comfort" round out the top five reasons that women make an athletic footwear purchase. Men say "fit," "solutions," and "fun" are in their top five.
Both men and women shop for toys, but for different reasons. Women first think about whether it would be good for the child they are buying it for, while men are most often shopping for their personal collection. Women are more likely to look for value, while men want the latest technology.
Dee Warmath, SVP retail insights and global product development, The NPD Group, Inc., “In this analysis we see that while men and women share many of the same priorities when it comes to selecting brands, they differ in important ways and that represents opportunities for manufacturers who recognize and then leverage these unique requirements.”
SpendingPulse Report: June results mixed
Purchase, N.Y. — A report released Thursday by MasterCard Advisors, which tracked sales activity in the MasterCard payments network coupled with cash and check estimates, said that June sales continued May’s mixed bag with some sectors gaining and some losing momentum.
According to the MasterCard Advisors SpendingPulse report, the luxury and restaurant categories continued to add momentum to their performance in May, while overall year-over-year growth was supported by gasoline and grocery sales. The report also showed that specialty apparel gained while the electronics and appliances, furniture and furnishings and department stores sectors remained in negative territory.
“As we move into the summer, discretionary spending tends to shift to vacation-related categories, usually reflected in Travel sales and particularly in Lodging, although we are seeing some weakness in those areas,” said Michael McNamara, VP research and analysis for MasterCard Advisors SpendingPulse. “At the same time, June is peak season for weddings and graduations, and this may have helped the continuing strong growth of both Luxury and Jewelry sectors.”
Specialty apparel performed well in June, according to the report, although performance was helped somewhat by some easy year-over-year comparisons.
Other key findings from the report included: E-commerce was up 15.2% over June 2010, and the Luxury Index (excluding jewelry) was up 8.2% compared to a 4.7% gain in May. The SpendingPulse Luxury category includes luxury sales at high-end restaurants, food stores, department stores and general apparel categories.
NRF welcomes transportation reform, but concerned over funding
WASHINGTON— The National Retail Federation said it supports a transportation reauthorization proposal released today by House Transportation and Infrastructure Committee Chairman John Mica, R-Fla., but expressed concern over the measure’s funding levels.
“With a long-term, six-year funding period, provisions to streamline the permit process for new projects and a multi-modal focus, this bill is a significant step in the right direction,” NRF SVP government relations David French said. “Nonetheless, there is significant concern that by relying on the constraints of the current Highway Trust Fund, it does not provide sufficient funding to meet the existing and future needs of the U.S. infrastructure. We know this is the beginning of a legislative process, and look forward to working with lawmakers to ensure passage of a long-term reauthorization bill with appropriate funding levels and a funding mechanism that treats all transportation system users fairly.”