|
Vol. 2, No. 1
|
 |
A
Word from the Editors Today's environment requires executives to make significant decisions in a timely manner, using the best market information available. Decision makers must have high returns on the market information provided. M. Davis and Company, Inc., provides consumer product and service executives a product - high return on information (ROInfo™) - that most effectively identifies challenges facing their organizations and best solutions to those challenges. ROInfo™, through the use of a range of research methods and techniques, program designs and monitoring tools, provides clients with critical information in real time. This timely presentation of critical performance information, improves executive decision making and organizational performance. We hope to use this
newsletter to highlight for consumer product and service industry executives
some of the current research, key findings, initiatives and best practices
in the industry. We welcome your comments.
In the Market for
New Merchandising Ideas? Link to article:
www.gourmetinteractive.com/articles/211feat2.html
Supermarkets Fast Becoming One-Stop Whole Health Solution "Supermarkets are in a prime position to serve the self-care consumer," says Janice Jones, director of research at the Food Marketing Institute. " In addition to offering food, they are providing customers with a broad range of self-care products and free or reduced-cost services, such as screenings and vaccinations, consultations with an in-store pharmacist or nutritionist, and printed information." The fast-growing interest in self-care is being led by baby boomers (aged 37-55 years), representing 30 percent of the U. S. population. Their obsession with maintaining good health and a pleasant appearance is driving expenditures for products that treat conditions like hair loss, smoking addiction, weight gain and erectile dysfunction; and for services such as spas, elective surgeries and nutritional advice. These same considerations are also increasing purchases of self-care products, such as nutritional supplements, natural remedies, over-the-counter and prescription medicines and organic foods. Among all age groups,
over-the-counter medications remain the most popular health product, purchased
by 86 percent of all shoppers, up from 79 percent in 2000. Over three-quarters
(78 percent) buy foods fortified with vitamins and minerals and nearly
as many (74 percent) buy vitamin and mineral supplements. Link to article:
www.fmi.org/media/mediatext.cfm?id=371
Ethnic Consumer Loyal to Herbal Remedies
Link to article:
www.ecrm-epps.com/charliepres/CCA_April'01/Ethnic.htm
Beauty Make-Over "Cosmeceuticals," personal branding, complicated simplicity, male consumers, multiculturalism and ethnic appeal - these are just some of the trends, forces and factors which will shape the massive global beauty market in the near future. A recently released report by ad agency Euro RSCG Worldwide, entitled, "Five Trends Shaping the Future of the Cosmetics Industry" highlights these key trends but also picks up on one that is seemingly contradictory. That is, while standards of beauty are changing and broadening under the impact of cultural shifts, ethnicity and multiculturalism, the forces underlying these changes are often constant across cultures. Taking these key trends together, it seems the holistic or health product segment of the beauty market, which has been gaining in pace and value over the last few years, is set to become one of the major drivers of the market in the future. According to Ann O'Reilly, author of the report and director of Euro RSCG's research division, the most influential trends will be aging and multiculturalism. The focus on aging and its prevention will also tie in with other trends - toward natural therapies and customization. Retail sales of anti-aging products in the U.S. tripled between 1994 and 1998 to $ 1.7 billion and are forecast to reach $ 4.3 billion by 2003. The fastest growing segment is skincare, up 25 percent between 1999 and 2000. The broadening of beauty products toward a new ethnic standard is most pronounced in the U.S. because of the population diversity, the report says. The ethnic health and beauty market is estimated to reach $ 1.8 billion by 2004. Link to article:
www.bandt.com/au/articles/33/0c006a33.asp
Multicultural Marketing: Opportunities and Benefits
To be successful in seizing multicultural marketing opportunities, you must do your homework. Each ethnic group is not homogeneous. Within each, you'll find cultural distinctions and segments that respond differently to the same images and messages. Analyze the market. Look for buying patterns. Find out who lives where and what they purchase. You'll need to set up formal or informal focus groups, online or telephone surveys. Walk around and talk to community leaders and business owners. Get in touch with minority trade and professional associations and publications - in other words, all the usual market research techniques. Most importantly, realize that multicultural marketing is a long-term growth strategy. There is sharp radar for the detection of disingenuous advertising; you can't just slap a different picture on an ad. Link to article: www.bcentral.com/articles/krotz/113.asp?format=print
ABOUT M. DAVIS AND COMPANY M. Davis and Company, Inc., is a market research and consulting firm that provides complete services from project conception through implementation. We aim to ensure that our clients receive a high return on information (ROInfo™) by employing our unique perspective and market insights. We help clients make the most of their opportunities and implement solutions based on the information we provide. Summary of recent projects include:
We believe our clients are buying solutions, not volumes of data. To achieve success, our clients need "added value" and we supply it. We forge a close relationship with our clients, becoming their trusted partner, instead of a supplier. With better understanding of our clients, we narrow the gap between their objectives and operations by providing information tailored to their needs and designed to help them achieve: "high margin" information. Our clients can then employ strategies and tactics that produce success. |
||||||||||||||||||||||||||||||||
Return to Top |
||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||
|
To learn more above the services and capabilities of M. Davis and Company, Inc., visit our web site at www.mdavisco.com or call 215-790-8900 to speak with one of our market research professionals. If you do not want to receive this newsletter or can suggest other transportation professionals who might be interested in receiving future editions, please let us know by writing to info@mdavisco.com. |
||||||||||||||||||||||||||||||||||
By
knowing who your shoppers are, you can further understand their wants
and needs. Are there a lot of senior shoppers? Gen Xers or Yers? If one
of these groups is your store's primary target, then do some research
on the issues and concerns that can capture their shopping dollars. For
example, a study released recently by Food Marketing Institute (FMI),
called The Generation Gap, examined the shopping habits of America consumers
over 65 years old and those between 15 and 24 years old - the country's
two largest population segments. While both groups emphasize high quality
meats, produce and a clean store, they preferred different attributes
in their primary store. Younger shoppers want natural and organic items,
ethnic and gourmet foods, prepared foods and a quick checkout. Similarly,
working women (the primary core shopper) are enticed by convenience and
have interest in ethnic and natural foods. Older Americans consider frequent
shopper programs, an in-store pharmacy, private label/store brand products
and sale items to be critical in their selection of a primary food store.
When
it comes to treating coughs, colds and headaches with herbal remedies,
ethnic populations continue to be some of the brightest spots on the consumer
radar screen. While the market has experienced a temporary downturn, ethnic
consumers - Asians, African-Americans and Hispanics - remain loyal to
these products. Equally as important, ethnic populations in the U.S. are
growing. Currently, they account for 30 percent of the U.S. population;
the Census Bureau estimates that by the year 2050, 50 percent of the U.S.
population will be people of color. 
"In
a flat marketplace, it's smart to concentrate efforts on areas experiencing
heavy growth," says Carlos Santiago, co-founder of Santiago &
Valdes Solutions, a San Francisco marketing strategy and consulting firm.
The 2000 U.S. Census confirms that Hispanic, African-American and Asian-American
markets are growing faster than the mainstream population in both numbers
and purchasing power.