2017 is now in the books and while the year saw many prognosticators predicting the end of retail as we know it, I am happy to report that according to a MasterCard SpendingPulse report released the day after Christmas, retail spending in the United States was up 4.9% in 2017 compared to the same period last year.This data has everyone in the retail space feeling optimistic that our new economy will help them overcome some of the headwinds they faced...
The results of Market Force Information’s 2017 Customer Experiences and Competitive Benchmarks Study should serve as a call to action for banks across the country. Despite the best of intentions and millions of dollars invested for customer experience improvements, customer loyalty scores at traditional banks have declined across the board. And not surprisingly, the percentage of consumers who say they intend on switching banks in the next 6 months has edged up to...
 A new research study by Deloitte (2017 Global Mobile Consumer Study) contends that the wireless industry will continue growing in 2017, fueled by the Internet of Things (IoT). Their research points out three major trends driving the growth: "US consumers are looking at their devices more than 9 billion times a day in the aggregate–up 13 percent from last year. Smartphone sales are still strong, with penetration up 10 percent year over year, and the highest growth...
With retail sales shifting to online, the ever-growing market share of Amazon, and trends in downsizing retail footprints, are indoor shopping malls still relevant to consumers? In a March 2017 research study by Market Force Information®, we asked over 3500 consumers about their shopping preferences—and whether they still frequented malls.Consumers’ top three places to shop included online (48%), at discount retailers (53%) and at indoor shopping malls (52%)—and of those, one third said...
In February of 2017, Market Force fielded research about the consumer experiences at gas and convenience stations. Over 11,000 responses were received. We asked a variety of questions—including what determines where they purchase fuel. The answers may surprise you:Price  77% of consumers rated price as a key component for where to fuel. Price/gallon tends to be very competitive—within a few cents—so filling a ten gallon tank will only save a few quarters. But it...
In February 2017 Market Force conducted research with restaurant guests about their most recent dining experience at a QSR or fast casual restaurant. Over 11,000 US restaurant guests responded to the research, providing information about their experiences dining at 70 brands in seven different sectors. What did guests have to say?App adoption has increased markedly. In 2015, only 11% of guests placed an order using an app. In 2017, that increased to 30%. While younger...
What can we expect from the QSR industry in 2017? A strong and improving economy over the past five years has restarted the restaurant industries’ growth engine. Money is flowing back into the space to fund expansion, growth, M&A, and revitalization initiatives, with Restaurant Brand International’s purchase of Popeyes as the most recent example.We predict five major trends will help fuel the new growth in the QSR and Fast Casual: Culinary evolution. We are seeing the...
US casual dining restaurants enjoyed a steady growth of about 4.3% from 2011 to 2016. However, that growth is expected to slow to about 2% (IBISWorld Reports, 2016 Chain Restaurants report). Why? Because consumers want greater convenience at lower cost—and they also want high quality food. Fast casual brands have stepped into that niche and are taking market share from traditional casual dining brands.Our newest panel research in the casual dining sector corroborates the premium placed on...
According to Deloitte nearly three quarters (72%) of consumers still want to use their local branch to access financial services. This emphasizes the importance of the branch experience on customer loyalty—at least for now. However, our most recent competitive benchmark shows over one in ten banking customers are not satisfied with their relationship with their primary bank. This makes brands vulnerable to losing market share. Overall, 12% of all banking customers are...
The hospitality industry is growing. IBISWorld reports: “While the Hotels and Motels industry is highly susceptible to changes in the global economic environment, the industry has experienced robust growth over the five years to 2016. Thanks to increases in travel spending, corporate profit and consumer spending, industry revenue has grown every year since 2011, as the economy improved and domestic and international travel rates increased. As a result, the Hotels and Motels...

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