Consumer Trends in the Retail Industry: The Power of the Disgruntled Consumer
By Alex JonesOct 17th
Published September 27th 2018
Markets change, companies merge, and businesses fall in and out of favor. It’s hard to keep track of everything that’s going on but the more data you have, the easier it can be.
You may not know this but at Brandwatch we’re big fans of data. Data of all kinds.
We believe that by increasing the variety of data you use you’ll stand a greater chance of yielding great insights. That’s one of the reasons why we’re continually adding more data souces to the Vizia platform.
Today we’re launching three new ways of visualizing search data within Vizia and, instead of telling you about the nuances of the new data and how the components work, we’re going to share some key insights on different industries that we uncovered in no time using them. Think of it like a Q&A with Google data, without having to Google anything.
For this research, we looked at organic search and SEO data from google.com (US) and google.co.uk (UK) and focused on the electrical goods, beauty and travel industries.
Surprisingly, the hotel industry experiences a far higher volume of searches each year, and this is growing incrementally. It’s a trend that could continue with research showing that the hotel industry is set to experience 5-6% growth throughout 2018.
When we looked at both flights and hotels, there is very little representation from brands specializing in those fields. In other words, almost every one of the top performing sites in these industries are price comparison sites.
Shout out to Marriott.com for bucking the trend.
For the flight industry, this falls in line with research by Deloitte which states that low-cost comparison will be a key theme for consumers in 2018.
Probably not who you might think.
Bestbuy.com have maintained an undisputed lead in the industry. They’re outperforming two companies worth a trillion dollars – Apple and Amazon.
No major surprises. Gaming has traditionally been the most searched for product category but there’s a poor representation for this category among the leading companies – a sign of untapped potential.
The real value of this data can be found when moving beyond share of voice – that’s where things get interesting.
Notice that green line and the spikes in close succession? One of those is straightforward – it’s December, gift time!
But, what about the other? Increased search volume in September is harder to explain. Is this due to parents wanting to equip their little darlings with phones as they head off to school, or something else? Either way, if it were my marketing strategy in question, I would be investigating. Combining search data with social data could help you find the “why” to the “what” you’ve already discovered.
Unsurprisingly, search volume in this industry has seen a steady incline since July 2015. Maybe we’re born with it, maybe it’s the Kardashian effect.
The haircare category is the only one that seems to have been declining over the past 36 months. In contrast, the skincare category has been steadily growing in the same time period.
Search data is just one of the many, many pieces of the customer journey puzzle. In order to get a complete view of our customers, we need to bring as many of those pieces together as possible.
Having a holistic view of customers will enable your team to make better and more directed decisions with the ultimate goal of delivering an even better experience.
With Brandwatch Vizia, we aim to make that single-customer view as easy as possible. Adding integral data sources like search is one part of helping our customers achieve this objective.