Cambridge Analytica has conducted an analysis of consumer preferences by digging into demographic, income and lifestyle information.
There’s always plenty of talk making the rounds on which retail brands are the hottest and at the top of the mind for specific demographics, and we now have some data to confirm which ones are at the head of the charts. Cambridge Analytica has unlocked a treasure trove of data from its massive database.
The data analytics group has conducted an analysis of consumer preferences by digging into demographic, income and lifestyle information from its database of more than 220 million people. There are a ton of interesting findings in the report, and some of the names at the top of the charts may not be the ones most observers would expect.
For customers in the middle-income bracket - which is, of course, a wide swath of consumers - one name stands head and shoulders above the rest. Maurices, the Minnesota-based women’s retail clothing chain that traces its roots back to 1931, scores big with consumers in that income bracket. In fact, there’s a pretty substantial gap between Maurices and the second name on the list.
“Consumers in Middle America have made a clear choice when it comes to their favorite retailer - and the winner is Maurices. The closest store to Maurices was Christopher Banks, which came in a distant second with 44 percent,” the report reads in part.
Other brands that are resonating with Middle Americans are Aeropostale, Hot Topic, and Under Armour, all of which checked in with a score of about 40 percent. Breaking this down even further, some light patterns are developing between male and female shoppers.
Mothers in all age demographics have a preference for Charlotte Russe and The Limited, as almost 70 percent of purchases made in those two stores were by moms. When dads go shopping, they’re looking towards Hugo Boss, as 35 percent of sales made at the retailer over the past six months were by fathers in all age demographics. Parents are also looking towards names such as American Outfitters, Levi Strauss, Nike, Ralph Lauren and Tommy Hilfiger.
For the all-important millennial demographic, Charlotte Russe and Urban Outfitters check in favorably there as well, as 23 percent of current customers fall into that age bracket. Hot Topic and Forever 21 are resonating with this group as well, with scores of 17 and 15 percent respectively.
Add it all up, and this is some fascinating insight from a respected data analytics company. It’s always exciting to see which names are resonating today, as that can provide us with some valuable clues on what may be the next hot brand of tomorrow.
29 MARCH 2017, USA