Mid-market retailers under attack from all sides, Bazaarvoice
76% of UK shoppers who usually shop at mid-market brands such as Next and Debenhams are likely to switch to luxury ventures including Selfridges, Burberry, Mulberry and Omega at Christmas. That’s according to new research from Bazaarvoice, involving 4,000 consumers from the UK, France and Germany.
The migration from the mid-market is tied to the eruption in budget brands and discount days, with 69% of UK respondents stating they will now shop at Argos, TK Maxx, H&M and Tiger. Meanwhile, 61% of those who are now looking to buy Christmas gifts from the likes of Burberry and Omega are banking on a Black Friday bargain. They are also the most likely to buy gifts on Boxing Day (46%) when the sales start.
Chief among the challenges facing the mid-market is the fact consumers are more focused on value than ever before. Not only are they now choosing discount brands because of price but a quarter of shoppers associate these retailers with quality products.
Furthermore, in the online realm, Amazon continues to claim a monopoly because when it comes to consumer perceptions of where the best product deals are over the winter sales period, 60% of all shoppers place it top.