»
Targeting new residents is the most effective way to replace the 20 percent to 40 percent annual customer turnover rate that typical small retail operations face.
According to research cited in a new study by Moving Targets (via DMNews), movers go through five stages of transition during a move: Separation, as people say goodbye to their old connections; Transformation, the physical aspect of the move; Early Integration, encompassing the first six months in the new community; Later Integration, the subsequent period of adjustment; and Maintenance, the indefinite period once the resident is finally settled in.
It is during the Transformation, Early Integration and Later Integration stages that new residents represent the immense opportunity for local retailers. According to the U.S. Postal Service, this period represents a time of “hyperspending” as movers buy everything from new drapes to Chinese carryout. On average, new residents spend $7,100 for goods directly attributable to their relocation. During the first 24 months after a move, an estimated 80 percent of new residents will try new products and services from local businesses.
The Moving Targets study reports the following facts about new movers: 62 percent eat pizza; 65percent of female new residents are anxious about finding a good hairstylist; 67 percent say it’s difficult to find an honest auto repair shop; 80 percent redeem gift certificates offered by local merchants; and 98 percent appreciate gifts or offers from local merchants.
Marketers have unleashed their holiday promotions earlier than ever this year, with many hitting the stores well before Thanksgiving. But Sirius XM isn’t launching most of its 24-hour holiday music channels until turkey day or later.
The newly merged company…
October advertising revenue plunged for The New York Times Co. and McClatchy, despite some growth in online ad revenue.
The New York Times saw ad revenue plummet 17.2%; online ad revenue increased 5.3%, writes MediaPost. Classifieds have fallen 27.3% year to…
The switch to digital television arrives in less than three months, and to remind consumers of the transition, the National Association of Broadcasters is running a campaign across PumpTop TV’s network of screens at gas stations.
The spot began airing…
Through the first half of the year, automakers have slimmed their ad spending by 10% to $6.1 billion, according to Nielsen Monitor Plus.
General Motors slipped 6% to $1.2 billion, while Ford Motor cut ad spend by 22% to $954…
Getting real-time, 24/7 online access to company news and reaching responsive and efficient PR representatives still rate high on journalists’ wish-lists, but reporters are increasingly sourcing stories from new forms of media as well, according to research from Bulldog Reporter and TEKgroup…
Some 20% of top brand marketers continue to send additional emails to consumers, even after they confirm requests from those consumers to “unsubscribe” from an email marketing list, according to a research study from Return Path, MarketingCharts writes.
Though the study,…
