Verve Wireless: Electronics No.1 category shopped for on smartphones
New York City — Consumers and their smartphones are becoming inseparable when it comes to shopping, according to a survey by Verve Wireless, a mobile advertising company, which found that over 60% of respondents use their smartphone for shopping one or more times each month.
The top three product categories shopped for on smartphones are electronics (51%), entertainment (50%), books (45%), closely followed by clothing (38%) and automotive (21%), the survey revealed.
In other findings:
- The top three retailers users accessed on their mobile device (tablet and smartphone) are Amazon (63%), eBay (37%), and Target (35%)
- Consumers use their smartphone to look up information on price (48%), followed by product information (24%), reviews (14%) and where to buy (14%).
- Eighty-one percent of smartphone users have purchased a product or service online or in store after seeking information on their mobile device.
"The results substantiate what our advertising partners have known for a while, that mobile is an essential part of any retailer’s advertising plan," said Greg Hallinan, CMO, Verve Wireless.
Ten holiday consumer insights from Mintel
Chicago — With the holiday season in full swing, Mintel, a leading global supplier of consumer, product and media intelligence, has looked into its market intelligence to find out just what U.S. consumers do to make their holidays special.
Here are 10 interesting insights:
• Some 13% of U.S. consumers think a cell phone is a good gift for children aged 6-11, up from just 4% earlier this year.
• November is the most popular time to start shopping for holiday gifts, with nearly one-third (30%) of US shoppers starting then. However, 15% start their holiday shopping in December – the majority (18%) are male.
• Roughly one-third (32%) of Americans expect stores to offer boxes for holiday gifts; close to a quarter (22%) plan to cut down on the number of people they buy gifts for; and, more than two in 10 browse in-store, but buy online to save money.
• Twenty-seven percent of U.S. consumers say that when they go gift shopping for the holidays, they usually wind up buying something for themselves.
• From last year’s holiday season (i.e. Christmas, Hanukkah, Kwanzaa, etc.), the average amount of money spent on video gaming equipment as gifts for other people was $78.
• Skipping the wrapping paper? Twenty-one percent of Americans say they only use it rarely if at all, since gift bags are so plentiful.
Forty-two percent of Americans say they bought Christmas decorations in the past year, compared with only 24% for Halloween and 14% for Easter.
• Close to three in 10 (29%) U.S. consumers say they bought a fragrance as a gift for someone else on Christmas. The winter holidays represent the peak season for fragrance sales.
• More than a quarter (28%) of Mintel respondents buy candles specifically for the holidays.
• Nearly one in five (18%) of U.S. consumers claim they "absolutely have to entertain guests for the holidays."
Walmart looks to better 401(k) plan following lawsuit
Wal-Mart Stores said it would offer better financial education and investment options to its associates, following its agreement, along with Merill Lynch, to pay a total of $13.5 million to settle a long-running class-action lawsuit alleging the retailer and its retirement plan administrator breached their fiduciary duty toward nearly 2 million past and present Walmart workers in the company’s 401(k) plan, Forbes.com reported.
According to the report, both Walmart and Merill Lynch claimed no wrongdoing, but Walmart said it would look to offer more reasonably-priced investment options to its employees.
According to the article the settlement would go toward reducing future 401(k) plan fees.
Read more of the article here.