Viant’s exclusive new research explores the spending behavior and lifestyle habits of consumers across three top national department stores: Nordstrom, Macy’s, and Kohl’s.
Forty-percent of customers account for 80 percent of purchases at department stores. For retailers, these Heavy Spenders are the Holy Grail of shoppers. Understanding who they are, and how they shop, is key to marketing to them as these shoppers appear to defy the traditional demographics.
As people spend increasing amounts of time getting the latest updates and content via their Facebook feeds and live streaming media on their phones and tablets, advertisers must use a much wider channel strategy to get their brand message in front of consumers. Learn more from Viant’s SVP of Sales, Erin Madorsky.
As trite as the subject matter seems, products have always been a way for people to politically identify themselves, even if the consumers weren’t doing so intentionally. A recent data analytics survey by the advertising technology company Viant discovered some of the more unlikely differences in the ways that Democrats and Republicans shop.
When it comes to shopping at department stores, it turns out three surprising groups — digital introverts who don’t like stores, dads, and people who prize easy parking — put all the rest of us to shame. While they account for just about 16% of the population, they do 44% of the spending at U.S. department stores each year, according to a new study from Time Inc.’s Viant.
Last week at Attribution Accelerator, some of the foremost leaders in advertising and analytics came together to discuss the current challenges of attribution modeling. While there was a lot of enthusiasm for the event, one of the key themes echoed by various speakers and attendees was the dire need for advancement in measurement solutions.
A recent report by Viant, a subsidiary of Time Inc., breaks down in detail who precisely is shopping in department stores now. In the Viant report, they define Heavy Spenders as the top 40% of consumers ranked by amount spent in department stores in the last 90 days. If department stores can focus more on these consumers, they will enhance their sales per customer by gaining more dollars from these high-value customers.
“While cross-device technology enables marketers to link devices across screens, establishing attribution and maintaining a high level of accuracy with extensive reach can be difficult. The missing piece of the puzzle that is the cross-device dilemma is, and always will be, identity management through a people based approach,” writes Viant’s VP, Lara Mehanna.
New research from Viant, a people-based advertising technology company, provides insight into the buying habits and lifestyles of shoppers from three top national department stores: Nordstrom, Macy’s and Kohl’s. The company analyzed nearly three million U.S. residents and compared the data to other attributes, such as household incomes, television viewing behavior, grocery purchases and auto ownership.
As device proliferation continues to grow exponentially, the need to reach consumers across all screens has become an increasingly critical component of a marketers’ advertising strategy. Marketers are rising to the challenge by adopting people-based approaches that rely on real, first party data and identity management to close the loop.
With Black Friday just a few days away, retailers are gearing up for what is predicted to be the biggest kickoff to the holiday shopping season in recent years. While most retailers have a general understanding of who buys their products and services, the real marketing goal is to go beyond identifying a retailer’s customers, and find those true high-value customers who are driving the most revenue online and offline.