MARKETING/SOCIAL MEDIA

Survey: Teens, young adults love shopping, personalization, deals

BY Dan Berthiaume

Cleveland — Shopping ranks as a favorite activity among nearly half of all teens and young adults aged 13 to 24. According to a new survey of more than 1,000 teens and young adults ranging from ages 13 to 24 conducted by Alexander Babbage in partnership with Forest City Enterprises Inc., shopping at malls ranked above a virtual shopping experience among the entire group, with the 13-to-17-year-old age group showing the strongest preference for a bricks-and-mortar shopping experience.

In addition to music, movies and video games, 46% of teens and young adults cited shopping as one of their favorite activities. Results also show that teens and young adults visit large shopping centers more frequently and spend more money there than at any other virtual or physical shopping venue. Specifically, the survey found that 71% of monthly expenditures by 13-to-17-year-olds and 69% by 18-to-24-year-olds are made in bricks-and-mortar shopping locations.

The survey also found that teens and young adults are more deal-oriented than generally expected. In addition to finding a deal, young shoppers seek an experience that delivers individuality, authenticity and uniqueness. Nearly 65% of respondents said the ability to personalize their clothes, shoes and accessories had a positive impact on their overall shopping experience

Of the key shopping influences, friends and in-store displays topped the list. In fact, the study found that young shoppers are four times more likely to be influenced by friends and three times more likely to be influenced by in-store displays than by social media.

The survey also found that 13-to-17-year-olds are less brand-centric and more price-sensitive than 18-to-24-year-olds. However, both groups prefer sales and discounts over other tested ways to enhance their bricks-and-mortar shopping experience. Gift card incentives ranked especially high among this age group, followed by sales at favorite retailers. The 13-to-17-year-old group showed a stronger interest in using malls as places to “hang out,” compared with the 18-to-24-year-old age group.

While most young adults indicated that using a mobile device is the least preferred way to shop online, they also said the ability to use mobile devices to receive offers and information positively affects the shopping center experience. Email communication was revealed as the preferred medium for fashion, brand and retail information.

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SUPPLY CHAIN

Panjiva: U.S. imports rise in June

BY Dan Berthiaume

New York – June 2014 showed levels of imports to the U.S. 6% higher than imports in June 2013. According to new data from Panjiva, the numbers of shipments coming into the U.S. also changed .03% from May 2014 to June 2014.

Although Panjiva analysis indicates imports are strong and the U.S. economy generally looks optimistic, a possible port workers strike brewing in California could disrupt 40% of the waterborne goods coming into the country. Situations in the Middle East and Ukraine may cause supply chain disruptions as well.

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FINANCE

Report: EBay resets passwords; will sell auto services

BY Dan Berthiaume

San Jose, Calif. – EBay has had success with the password reset it launched in May 2014, following the public revelation of a February 2014 security breach that may have exposed user information. According to Bloomberg, more than half of EBay’s existing 149 million customers have returned since the rest, and the company has also experienced 10-15% growth in new customers since that time.

In addition, EBay reportedly plans to start testing the sale of auto mechanic services in a couple of unspecified U.S, cities in fall 2014. EBay executives also told Bloomberg that the company expects consolidation among e-commerce companies and may pursue strategic acquisitions as a result.

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