Survey Takes On Online Competition
A majority of retailers and others interviewed for a recent survey said they would increase advertising and promote online business in order to face the challenge of heightened competition from increased consolidation in the retail market. The survey was conducted by Irvine, Calif.–based retail marketing firm BDS Marketing. The firm interviewed a group of 1,980 attendees at the MAGIC Marketplace, held in Las Vegas Feb. 21–24. The group included retailers, manufacturers and financial services workers.
One of the largest number of respondents, 26 percent, believed the best survival strategy in an era of increased mergers and consolidation was to increase their online business. Twenty-six percent of the respondents preferred to spend more on advertising. Twenty percent said they would increase retail store support. Eighteen percent said they would expand their choices of brands at the store. Just 10 percent said they would acquire licensed product.
BDS also asked attendees which of the more than six trade shows at MAGIC did they plan to visit. Twelve percent of the respondents said they would visit the Pool trade show. Thirteen percent said they would visit the Project Global Trade Show. Forty-six percent planned to shop at the MAGIC Marketplace. Nine percent planned to go to the Sourcing Zone at MAGIC, 12 percent to Accessories at MAGIC, 8 percent to MAGICKids. —Andrew Asch
