Black Friday Shoppers Line-Up Online for Nordstrom and Macy’s, while Costco and Amazon Have Fans Talking Offline
Engagement Labs Announces ‘Total Social’ Rankings of Top U.S. Retailers Based on Social Media and Word of Mouth Performance TORONTO, ON – November 23, 2015 – Technology and data company Engagement Labs (TSXV:EL), creator of eValue Analytics™, today released its ‘Total Social’ data rankings on the top U.S. retailers for both social media and word of mouth (WOM) conversations. ‘Total Social’ combines Engagement Labs’ proprietary eValue social media measurement tool, and TalkTrack®, the leading measurement source of WOM conversation from the Keller Fay Group, an Engagement Labs company. Top Ten U.S. Retailers – Online and Word of Mouth Conversations Source: Engagement Labs eValueTM 2015 rankings of U.S. retailers and Keller Fay’s TalkTrack® 2015 ranking U.S. retailers’ word of mouth conversation. “A retailer’s entire year is often determined in the months leading
By Ed Keller In Steve Jobs, Walter Isaacson talks about the seven industries that Steve Jobs revolutionized: personal computers, animated movies, music, phones, tablet computing, digital publishing, and retailing. As we approach Thanksgiving and “Black Friday,” the most important day in retail, let’s consider how the Apple Stores changed business retail, which is the topic of Chapter 29 in the Jobs biography. It’s easy to forget how dismissive experts were when Apple decided to enter the retail business in 2001. “Maybe it’s time for Steve Jobs to stop thinking quite so differently,” wrote Business Week. Of course, the Apple Stores went on to achieve record breaking success, despite such doubts, because they had a mission that was about more than providing a place for transactions with customers. Jobs envisioned the
Last week we shared Keller Fay TalkTrack® data showing which retail brands are more talkable and thus, more valuable. The value of being talkable cannot be understated for the simple reason that the more talkable a brand is, the more recommendable a brand becomes. The Retail category is full of talkable brands from department stores to discount retailers to specialty shops. Keller Fay research shows conversations Americans have, both offline and online, about retail brands is more likely to contain a recommendation than the all-category average. Americans have strong opinions about retail brands they recommend and those they don’t. The following chart illustrates how much more likely a conversation about a retail brand will include a recommendation to “Buy It or Try It.” The chart also shows how retail brands
Retail brands make the American economy hum. The retail industry contributes about $4.0 trillion dollars to the US economy and is responsible for nearly 12% of all US employment [source]. According to an Interbrand 2010 study, Walmart, for the second consecutive year, is the most valuable American retail brand as measured by its financial strength and brand equity. Target moved up from being the fourth most valuable retail brand in 2009 to being the second most valuable brand in 2010. Best Buy (#3), Home Depot (#4), and Walgreen’s (#5) round out Interbrand’s top five most valuable American brands. The Keller Fay Group compiles a similar list of retail and apparel brands. However, Keller Fay’s list is not based on being financially valuable but rather, being highly talkable. Walmart tops Keller Fay’s list
One of the more provocative Keller Fay statistics on word of mouth reveals less than 10% of conversations Americans have about products, services, and brands occur online (email, social media). Which means, over 90% of marketing-related word of mouth conversations happen offline (person-to-person, voice-to-voice). For many social media marketers this 90/10 split is hard to believe given the increasing time people are spending online. Ed Keller, CEO of Keller Fay, explains the seemingly implausible disparity this way, “At Keller Fay we are measuring word of mouth conversation, not readership of consumer-generated content. Lots of people might read information on social networking sites, but contribute infrequently. Especially when it comes to brands.” Let’s put this 90/10 split in a different context by asking and answering a question: What percentage of retail
The 2010 back-to-school shopping season is behind us. It’s interesting to note, according to a National Retail Federation study the typical American family spends $606.40 on clothing, school supplies, and electronics for their school-aged children. In total, American families will spend over $21 billion in back-to-school shopping for their school-aged children in grades K-12. This shopping time is especially important for teen retailers such as Abercrombie & Fitch, Aeropostale, Forever21, and PacSun. Retailers focused on the teen market can generate up to 25% of annual sales during the weeks leading up to the start of school. Thinking about the back-to-school shopping season serves as good context for us to learn more about the talkative nature of teens. Keller Fay’s TalkTrack® study captures marketing-related and brand-specific conversations teens participate in via
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Marketers who want to reach mothers – a group 75 million strong in the US – through word of mouth are taking advantage of social media and teaming up with bloggers to give their viral campaigns a boost. This is a group that wields the kind of clout that marketers covet. They influence 85% of all household purchases, according to experts who study the mom market. They are also the big spenders in the family. By some estimates, mothers in the US alone spend about $2 trillion a year. Some projections suggest that figure could grow to $3 trillion by 2012. As consumers, women also rely heavily on Web sites and blogs to research everything from diapers to medical issues. That reliance grows when they’re planning a family, with some
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