Beyond price tags: What really drives consumer choices in fashion and footwear? Market Force study looks at top retail brands to uncover where consumers are spending and why
ATLANTA, March 21, 2024 /PRNewswire/ -- Market Force's latest syndicated research covering retail and fashion suggests that consumers focus on getting what they perceive as a good value, regardless of whether the retailer is a department store, or specialty brand. Almost 5,500 (N = 5,462) consumers provided feedback about their experiences across popular department stores and specialty retail brands, providing specific feedback on both clothing and footwear retailers.
Study results indicate that purchase motivators go beyond value. Though value holds primary leverage with consumers, they also report spending based on their assessment of ease of shopping, both in-store and online, atmosphere at the shopped store, service while in the location, and finally their use of a retailer's mobile app. Interestingly, the motivation to purchase extends much less to loyalty programs, regardless of whether the retailer brand is a department store or a specialty retailer. Perhaps the value of loyalty programs is waning as the market becomes saturated with nearly every brand offering some sort of loyalty offering.
Consumers rated the top department store brands, clearly indicating preference for those they felt were value leaders. The top department store brands in order were: Kohls, TJ Max, Walmart, Macy's, Ross Stores and Target. The lowest performers of the department store brands included Dillards, and Burlington Coat Factory.
Leading the pack among specialty retailers was: Old Navy, H&M, Nike, Zara, Adidas, and Banana Republic. The lowest performers of the specialty retail store brands included Fabletics, Pacsun, Big 5 Sports, and Club Monaco.
Low CX performance can be incredibly predictive of poor sales growth, and ultimately risk for brands in terms of market share and customer retention. "If you find yourself ranked anywhere from mid-pack to the bottom of the list it is likely time for a thorough review of the customer journey. We are happy to help with the process of getting your brand back on track, so please reach out," says Scott Griffith, CMSO at Market Force.
To access the fashion retail study results please visit:
www.marketforce.com/clothing-footwear-research-2024-access
Brands and analysts interested in a full walkthrough of results can schedule a briefing at:
https://www.marketforce.com/schedule-a-briefing
Join our growing consumer panel at:
https://panel.marketforce.com/become-a-panelist
About Market Force Information
Market Force helps leading global brands improve the customer experience and operations at each location. Through an integrated services package including mystery shopping, site audits, contact center, social reviews, surveys, employee engagement and analytics Market Force drives consistent growth and profitability for its valued clients.
Market Force provides solutions for restaurants, big box and specialty retail, grocery, petro-convenience, hospitality, travel, telecom, technology, energy, education, health and wellness, movie studios and theatres, fitness, financial services, gaming, CPG, alcohol and tobacco, pharma, government agencies and more.
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