Due to the economic situation in America, Canada and beyond buying patterns have changed and retailers are taking notice and changing what they offer consumers.
Purchasing decisions can be influenced by many factors. Buyers are purchasing more of what they need and not so much of what they want. The days of boasting about paying $600 for pair of shoes are on pause. People are bragging about how cheap they got something. Seems like the "going green" status resonates to us all and not wanting to be wasteful in anything including our spending habits.
Neiman Marcus, Bergdorf Goodman, Macys and other retailers are paying a lot of attention to new ways to connect with its buyers through multi channel integration. The CEO of Neiman Marcus direct was guest speaker at Luxury Interactive 2010 Conference and noted the ascension of Social media. The company will be fully mobile soon and allowing consumers to use cell phones and ipads to buy products directly from its website.
Macys big pay off came when it recently catered inventory to local tastes.
New kids on the block like GILT and others have attributed to impulse buying and some other related forces that affect our buying patterns. More on that later and the effects of post-purchase behavior.
