STORES Magazine - April 2018 - 22
WANT IT, NEED IT,
GOTTA HAVE IT
Technology's dominance on annual survey is
good news for retailers
by SANDY SMITH
here is no question that
technology is increasingly
important to consumers
- and it doesn't take
research to prove that point.
Still, Prosper Insights & Analytics'
annual research into what
consumers consider expendable
and untouchable shows just how important
the internet and mobile devices are.
In fact, technology dominates the top untouchables
in today's budgets - good news for retailers who have
capitalized on that type of investment.
"As more and more retailers have been upgrading their
technology over the past several years, where websites
are more mobile-friendly and there's more comparison
shopping options and apps, the smartphone is not just for
communicating with friends. It's a shopping tool," says
Phil Rist, Prosper's executive vice president of strategy.
STORES April 2018
"We saw in the recent holiday season how
much activity was done on the smartphone while
[consumers are] out shopping, looking for things
on their phone, sometimes while standing in line at
When push comes to shove, it's the purchase of the
luxury handbag that is - and always has been -
first to go, the research shows. But as the economy
improves, the resolve softens: In 2008 - the first year