Brand Mavens and the Future of Shopping

Brand Mavens and the Future of Shopping

Texas A&M University released their research on the future of shopping and it has many valuable points of interest for retailers everywhere. We now live in a world where cash and credit cards are finding their way out the door, social media comments and reviews are pivotal to buying decisions, and shopping malls are being replaced by brand-specific apps. Personally, I’m not on board with using my iPhone as an Interac card but I do admit that I go on social media before making purchases at times for a second opinion and I love apps like Spring for mobile shopping. Digital has been taking over for a long time and this shouldn’t be a surprise yet not all retailers are utilizing it or social media. They should start paying more attention to social media though because these brand mavens make up 53% of U.S. shoppers.

When they buy a product from a store they love, they share it online, and it shows their loyalty to the brand as well as sharing that they are a brand they should consider buying. Not only is their passion for brands pushing sales yet the acquirement of branded currency in the form of gift cards and coupons. For the study, they considered 1,127 online survey respondents. The average maven spends $1000 a year on gift cards and renews $700 worth. That is a lot of money in brand loyalty and the rising demographic shows no signs of slowing down. Texas A&M professor and leader of the study Janakiraman said that these gift cards and coupons will migrate to online form, most easily redeemable through mobile apps increasingly in the future.

Their research also revealed that the mavens are 60% women, tech-savvy, middle income, and rely heavily on user product reviews or social media comments when deciding what to buy.

The study taught me new information and cemented things I already assumed (people care what other people think more than they let on, myself included) but it’s telling of the way our generation is changing. What do you think about digital shopping and social media? Are you a fan of brick and mortar stores or e-commerce? Let me know in the comments below.

cher horowitz{Cher Horowitz was ahead of the times in 1995 movie Clueless}

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One thought on “Brand Mavens and the Future of Shopping

  1. I think shipping policies is the biggest determinant for me whether I buy something online. There should be free/inexpensive shipping as well as no cost returns. That being said, I dont think I would be considered a “Maven!” Great, Thoughtful article!

    Liked by 1 person

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