TD Partnership Programs polled 1,021 Americans to better understand the buying behaviors, paths to purchase and shopping preferences of today’s consumers.
The result is our comprehensive Retail Experience Index.
of Americans are shopping again, attesting to the continued rise in consumer spending
of consumers have spent $500 or more on a single purchase in the last year
Of those who spent more than $2,000 on a single purchase...
researched via retailer mobile
apps (vs. 12% of average spenders)
social media and blogs (vs. 21% of average spenders)
34% of consumers say they frequently use a retailer mobile app when shopping.
The top three reasons why:
Ability to shop off-hours
In-app promotions, coupons or discounts
Selection of products
/seamless purchase experience
Consumers still prefer the experience of shopping in-store
of consumers report shopping in-store “all the time”
of those who made a major in-store purchase over the past year asked a sales associate for help
69% of Millennials “always” or “often” choose the same brand when making a major purchase versus 58% of Gen-Xers and 56% of Baby Boomers
Millennials were more than likely to choose the same brand “always” or “often” when making major purchases, compared with Gen-X or Boomers in almost all categories surveyed:
Luxury/high-end fashion & accessories
Wearables (Google glasses,
smartwatches, AI goggles, etc.)
“…Millennials [are] debt-averse and price-conscious for good reason. As more begin to start families and buy homes, retailers have an opportunity to earn brand loyalty by providing smart pricing and flexible payment options [to keep them] coming back in the long-term.”
David Boone, EVP and Head of U.S. Partnerships at TD Bank
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