I was pleased to share our showrooming study at The Hub Live Brand Experience Symposium in New York along with the CMOs of General Mills, Fender Instruments, Cheesecake Factory, L'Oreal, Caribou Coffee, Gallo, Harley Davidson, Kate Spade and NASCAR.
You can watch my presentation via this link.
Rodney Mason, parago CMO, presents insights from two new proprietary research reports: “Dynamic Pricing in a Smartphone World” and “Let’s Make a Deal.” Watch this video to learn more about:
- showrooming and mobile shopping trends
- price elasticity and consumer path-to-purchase behavior
- how to change shopper behavior and increase your sales
This video was taken at the 2013 Hub Brand-Experience Symposium, held September 10 and 11, 2013 at the Helen Mills Theater in New York City.
parago’s latest research report, People Prefer Prepaid, has grabbed the attention of several marketing-related publications.
This new shopper survey provides insights into incentives that change consumers’ path-to-purchase behaviors.
See what some publications are saying about our findings:
The Prepaid Press: “The popularity of prepaid cards is evidenced by this market's continued growth, which blossomed to $194.5 billion in 2012, according to Mercator Advisory Group.”
Marketing Pilgrim: “The new parago 2013 shopper reward preference study shows that people are two times as likely to pick the lower, gift card reward rather than the higher discount.”
BizReport: “… it's no surprise that a key take-out from parago's report is that ‘price is king.’”
Incentive Magazine: “A new study from digital and promotion agency parago, titled “People Prefer Prepaid,” demonstrates that people prefer to receive prepaid gift cards as incentives.”
Heads up! parago is hosting a webinar later this month where we’ll reveal more of our results.
Rodney Mason, parago's CMO, explains how little it takes to get your retail customers engaged and keep them coming back for more.
Today’s economy is forcing businesses to look for new ways to incent shoppers to purchase products or subscribe to a service.
Our newest shopper study, “People Prefer Prepaid Rewards,” shows that prepaid cards are the preferred incentive. This research also revealed that consumers still prefer physical cards to digital rewards — even when Amazon gift codes are an option.
To browse the full study, click here.
A new study from JiWire reports that 42% of surveyed customers prefer using their smartphones or tablets over laptops to research items they are considering buying. These findings align with the showrooming trends reported by parago in Dynamic Pricing in a Smartphone World: A Shopper Showrooming Study.
Additionally, JiWire claims 45% of customers prefer to purchase in-store versus online. Brick-and-mortar retailers looking to convert the 55% of their customers who are buying online can benefit by adopting price-matching strategies. One such strategy parago recommends is rebates — and Jonathan Crowl at Mad Mobile News agrees.
After reading parago's showrooming study, Crowl, reported that “with the rebate negating the price difference between in-store and mobile purchases, consumers would be more likely swayed by other shopping motivators, including the instant gratification of an in-store purchase."
To read Crowl’s full write-up, click here.
To read JiWire’s article, click here.
To download parago’s Showrooming Study, click here.
To read additional reports on parago's Showrooming Study, click any of the links included below.
- GigaOM: Thanks to smartphones, Amazon is softly killing retail shopping and is better at it than google
- FOX Business: A Few Bucks Off Will Sway Shoppers Online
- Mobile Commerce Daily: Amazon used twice as much as Google for showrooming: report
- Internet Retailer: Most smartphone users engage in showrooming in stores
- BizReport: Showrooming: Amazon winning the war in-store
The new research report, Dynamic Pricing in a Smartphone World, is causing quite a stir in the news.
Check out a few of the things people are saying:
- Mobile Commerce Daily: “Consumers are showrooming across every type of retail category, including appliances, entertainment, apparel and housewares. This shows that consumers expect to find better deals online for both expensive and small items than are available in-store.”
- BizReport: “Texas-based Parago found that Amazon is where shoppers armed with smartphones head online to check if they can find an item at a better price.”
- Mobile Social Hub: “Parago’s study is another example of mobile devices leading the way in a changing economy. As applications are released to serve most any need, from instructional courses to food delivery, traditional businesses must either adapt or get left behind.”
- FOX Business: “The study shows the best chance brick-and-mortar retailers have of keeping shoppers in-store is to offer price-match rebate guarantees.”
Research released today by parago reveals that 1/3 of US shoppers now "showroom" - in other words they check out products in physical stores while comparing prices on smartphones, then ultimately purchase the products for less via their phones or elsewhere online.
Check out the full report here.
This recent article from Forbes examines several large promotions from big-name brands and what they say about consumers’ perception of value.
In line this discussion regarding what consumers consider valuable these days, parago CMO Rodney Mason shared a comment on the story to mention some new research that marketers may also find interesting. A consumer survey released in April shows that consumers will participate in just about any marketing activity for $25.
We assume consumers guard their personal info tightly and are too busy for any marketing pitches, but in fact, consumers actually want to participate in marketing activities, often for free or a very small reward. In fact, the research from parago showed that for $25: 96% would demo a product, 91% would take a smartphone survey, 78% would get a quote online, 77% would participate in a one-hour sales presentation, 74% would get an in-home quote and 54% would participate in a focus group. Additionally, it would take a $25 reward to achieve the same amount of consumer participation in an online survey requesting personal info versus a survey that did not request personal info.
"Let's Make a Deal," parago's third annual shopper behavior study, was featured in two articles in Marketing Charts. This double coverage is a testament to the value and depth of the research. Read more at these links:
Other media mentions include MarketingProfs and RetailSails.
The full report can be downloaded for free here.
parago’s third annual shopper study, “Let’s Make a Deal,” was released this week and revealed that deal seeking has grown significantly in the past year. It is now a behavior consistently seen in shoppers from all demographics. Additionally, price sensitivity continues to rise.
The full report can be downloaded for free here.