<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=0suaea_0wKbvm8N00" alt="https://img.particlenews.com/image.php?url=0suaea_0wKbvm8N00" width="1440" height="1074" ><figcaption>In almost all categories, product quality and&nbsp;price are top of mind for consumers.</figcaption></figure>Product and price are the top reasons for shopping with particular brands, according to AlixPartners’ new Consumer Sentiment Index (CSI).The index includes a survey of 9,000 fashion consumers who were asked about their purchasing decisions, along with a separate Holiday Outlook report based on 1,000 consumer responses and economic projections. The data reveals that in almost all categories, product quality and price are top of mind for consumers, trumping attributes like experience, service and access.In the luxury and jewelry categories, customers expect the highest level of service during the shopping experience and are prepared to pay for it. In the specialty and footwear categories, AlixPartners found that customers rank service the lowest, and say that easy, fast shipping and returns are the top overall purchase drivers. For off price and mass &amp; club retailers, shoppers are looking for deals first and foremost. Respondent cited “I feel like I am always getting the best deal” as the #1 driver of purchases in the two categories.When it comes to brand and retailer preferences across categories, many long-time leaders are still the favorites of consumers.LuxuryChanel was the top-ranked luxury brand, ahead of Gucci, Burberry and Louis Vuitton, with 33% of respondents choosing Chanel as the top performing brand across the product and service pillars by a wide margin.FootwearNike is the clear leader in the active footwear category, with three-times more respondents ranking them first compared to the next highest ranked on the list (Adidas and New Balance were second and third, respectively). On and Hoka were the brands that saw the largest increases in consumer preference year-over-year.Despite Nike’s dominance, consumers ranked Crocs the highest rated fashion footwear player across the five pillars overall. The brand was the major winner with Gen Z (25%) and millennials (29%), followed closely by Vans. Thirty-six percent of boomers favor DSW as their top footwear company — twice that of their second choice, Clarks.ApparelAmerican Eagle ranked first for the young adult apparel sector in the CSI, rated the top retailer for the category by around 30% of respondents, ahead of Abercrombie (16%) and Hollister (15%). Calvin Klein, H&amp;M and Old Navy were the top three in the lifestyle apparel sector, while Ann Taylor, Express and Brooks Brothers were the leaders of the contemporary sector. Hugo Boss, Michael Kors and Coach led the designer apparel sector.Department storesMacy’s, Kohl’s and JCPenney lead consumer rankings in the department store category, together comprising over 50% of the vote and driven primarily by Gen X and boomers. Nordstrom ranks second for millennials, however, and resonates a lot less among the other generations (5 percentage points less with Gen Z and 10 points less with Gen X and boomer shoppers). Overall, Macys is preferred for products, while Kohl’s is preferred for price. Additional findings from the 2024 CSI include:<ul><li>Two-thirds (66%) of consumers will shop at a different retailer if the item they want is not in stock or in-store.</li><li>Consumers across all demographics rank recycling programs, “Buy Now Pay Later” (BNPL) offerings, social-media shopping and non-shopping experiences (like classes, styling sessions and customizations) as their least-important shopping consideration, with 40% saying these services impact their decisions. Millennials see the most value in these services, while boomers see the least. Luxury and jewelry shoppers value these add-ons significantly more than other customers.</li><li>Consumers strongly value price consistency and transparency, with 85% wanting to see the same prices online and in stores. Only about 10% of retailers’ online assortments are available in-store, while 82% of consumers expect to find the same product across channels.</li><li>Consistent fit/sizing (91%), product/price alignment (90%) and the best deal (90%) ranked as department store shoppers’ top purchase considerations.</li><li>While 80% of consumers think it’s important for retailers to offer an attractive rewards program, only 32% say existing programs make them feel like the brand understands them and 36% say the programs incentivize them to shop more often from the retailer.</li></ul></div></body>

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AlixPartners: Brand, retailer preferences include...

Product and price are the top reasons for shopping with particular brands, according to AlixPartners’ new Consumer Sentiment Index (CSI). The index includes a survey of 9,000 fashion consumers who were asked about their purchasing decisions, along with a separate Holiday Outlook report based on 1,000 consumer responses and economic projections. The data reveals that in almost all categories, product quality and price are top of mind for consumers, trumping attributes like experience, service and access.