Retailers, consumers and prices
Women plan to spend less at department stores, mass merchants
Last month, in a poll conducted by SheSpeaks, a women’s insights marketing firm, almost 50 percent of respondents said they would spend less this holiday. That was up from nearly 30 percent who answered the same way last year.
In a new poll, SheSpeaks asks where shoppers intend to spend fewer dollars. Here are the results from the updated poll:
If you are planning to curb your spending, where will you be spending less money?
1 – Department Store (37.64%)
2 – Mass Merchandiser (Wal-Mart, Kmart, Target) (23.62%)
3 – Big Box Retailer (Home Depot, Staples, Toys R Us, etc.) (16.85%)
4 – Grocery Store (11.50%)
5 – Club Store (Costco, Sam’s, etc.) (3.94%)
6 – Discount Store (TJ Maxx, Filene’s, etc.) (4.41%)
7 – Drug Store (2.05%)
Aliza Freud, founder of SheSpeaks, said she was surprised by the high percent of respondents who said they would cut their spending at mass merchants like Wal-Mart and Target. Wal-Mart’s results have been outpacing rivals in recent months as consumers seek out its low prices.
But Freud said: “People are feeling like they’re not getting the deals that they really expected to get there.” She said one reason for this feeling may be the lack of coupons that these retailers distribute. Instead of relying on a retailers’ promise that they offer low prices, Freud said respondents indicated that they prefer shopping with coupons these days to feel as if they are getting the lowest prices possible.
“We think coupons are a huge opportunity right now for retailers,” Freud said.