Author: Annette Malave, SVP/Insights, RAB
Have you ever heard of Sutton’s Law? It’s based on the principle that when diagnosing something, you should first consider the most obvious. It is based on bank robber “Slick” Willie Sutton’s response to a reporter’s question: “Why do you rob banks?” His response? “Because that’s where the money is!” This same response could be applied to the question; “Why boomers?”
Author: Annette Malave, SVP/Insights, RAB
Local truly matters. If there is one thing that everyone has learned during this pandemic, it is how important local businesses and communities matter – to everyone. When this all began, little did anyone realize how much walking into local businesses would be missed. You walk in, say “hello,” and if you frequent them enough, they call you by your first name. This event has been a very painful reminder of how much these local businesses mean to all of us.
Kelton Global, a consumer insights and strategy consulting firm, has been analyzing consumer behavior and sentiment since the onset of the pandemic. The most current data shows that 52% of Americans believe that the long-term effects of the coronavirus will be mostly positive than negative, and 9 out of 10 believe that there will be one positive change to come out of the outbreak.
Author: Annette Malave, SVP/Insights, RAB
Consumers today continue to shop and buy at brick and mortar locations, despite the surge of online shopping. In fact, according to a survey released by GroundTruth, a global location tech company, 38% of consumers believe they spend more money in-store. What influences that spend? The experience.
According to an article published in Forbes earlier this year, what will be critical for the retail industry is “the customer experience.” The same rings true for automotive. An Autotrader study found that 54% of consumers would buy from a dealership that offers their preferred experiences, regardless of cost. When it comes to the QSR (quick service restaurant) industry, the experience is key. The interaction customers have with the employees is just as important as the food that is being served.