Hidden Drivers of Retail Spending
Prevedere’s tip-sheet on understanding retail leading indicators
TIP SHEET: Three hidden drivers of retail spending
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Not surprisingly, retailers spend millions of dollars in merchandising and countless hours ensuring products are positioned perfectly to catch the attention of the shopper. But what affects the shopper before they enter the store?
As mentioned in a previous article about the Three A’s of Predicting Consumer Behavior, future shopping is just as much impacted by external factors (such as income, sentiment or employment) as they are by brand affinity and sales.
In fact, these external factors are remarkably predictive and can be confidently used to make decisions about future demand for products by segment and geography.
Download the TIP SHEET: The Hidden Drivers of Retail Spending to understand the not-so-obvious external factors that influence shopping behavior. Retailers can also have the opportunity to learn how to properly incorporate this data into existing analyses.