CD, Video/DVD and Video Game Sales: New Study Shows Increased Competition for Share of Entertainment Dollar; Cross Entertainment Shopping Report Delves into the Shopping Behavior of Entertainment Product Purchasers.PORT WASHINGTON Port Washington, uninc. town (1990 pop. 15,387), Nassau co., SE N.Y., a suburb of New York City, on the north shore of Long Island and Manhasset Bay. There is extensive manufacturing, much of it reflecting the region's past association with the aircraft and aerospace , N.Y. -- Licensing helps drive entertainment sales; Stressed consumers enjoy one-stop shopping The multitude of entertainment options in the marketplace means increased competition for the consumer's entertainment dollar, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. The NPD NPD New Product Development NPD Nouveau Parti Démocratique (Canada) NPD Narcissistic Personality Disorder NPD Norwegian Petroleum Directorate NPD Nationaldemokratische Partei Deutschlands Group's recent study, the Cross-Entertainment Shopping Report. The report highlighted the fierce competition, but noted an increasing inter-dependence, across the various entertainment categories. The Cross-Entertainment Shopping Report was designed to help marketers and retailers plan for the critical 2005 holiday season armed with the hindsight hind·sight n. 1. Perception of the significance and nature of events after they have occurred. 2. The rear sight of a firearm. of 2004 purchase patterns. NPD revealed that DVD's were the most popular entertainment product category, with 42 percent of US population age 13 and older purchasing a video in November and December of last year. DVD's were closely followed by toys (37 percent), music CD's (36 percent), gift cards (30 percent) and videogames (20 percent) as the most popular items purchased over the holiday season. Sibling Rivalry sibling rivalry Psychology The intense, emotional competition among siblings–brothers and/or sisters that pits one against the other to obtain parental affection, approval, attention, and love. See Cain complex. Cf Oy child, Sibling relational problem. : That's Entertainment More than half of entertainment product purchasers crossed categories during the 2004 holiday season. For example, 62 percent of music buyers also purchased a video, and 62 percent of videogame buyers bought a traditional toy. "The challenge for marketers is to understand how to leverage the consumer's desire for entertainment alternatives, while not cannibalizing their core business," said Anita Frazier, NPD entertainment industry analyst. "The entertainment industry sectors each need to understand where cross-promotion and in-store merchandising is synergistic synergistic /syn·er·gis·tic/ (sin?er-jis´tik) 1. acting together. 2. enhancing the effect of another force or agent. syn·er·gis·tic adj. 1. , so that they can optimize brand equity and register ring." Did you get the number of that license? If last holiday is any indication, NPD expects that licensing will continue to soar in 2005, and beyond. "Consumers are clearly playing back the licensing message," said Frazier. NPD reported that 79 percent of consumers who bought a movie soundtrack did so after seeing the movie; 43 percent reported buying a toy that was featured in a movie; and 33 percent of videogame buyers were motivated to buy a game that was represented in a movie; and 20 percent of videogame buyers bought music that was featured in the game. "Music companies are scrambling to get placement in a movie or videogame, and this validates those marketing tactics," Frazier noted. "Teens were especially responsive to buying music from games, and that's a terrific vehicle for labels to promote new artists or reconnect with consumers who have been trading instead of buying." One-stop shopping - shirts, pajamas pajamas Noun, pl US pyjamas pajamas npl (US) → pijama msg; piyama msg (LAM . . . and CDs? Though it may be strange to think about entertainment in the context of shirts and pajamas, consumers appear to be thinking that way when they shop, according to the Cross-Entertainment Shopping Report. Mass merchandisers are top of mind when consumers think about purchasing entertainment. "Low prices, convenience and selection are naturally important to shoppers, but what really comes through during the holidays is the value of one-stop shopping," according to Frazier. "Consumers are on a mission to save time and they know that mass merchandisers offer an efficient shopping model. It's one reason we saw online merchandisers benefit during the holidays." To counteract the one-stop-shopping consumer mentality, brick-and-mortar electronics and specialty retailers must position themselves among consumers as a "destination" shopping alternative. Their primary challenge is to market their retail destinations as the place where consumers will find superior service, deep catalogs and value-based pricing Value-Based Pricing A pricing strategy in which a product's price is actively dependant upon its demand. Notes: This method of pricing allows companies to take advantage of highly demanded products by charging more. . About the Cross-Entertainment Shopping Report The Cross-Entertainment Shopping Report offers guidance on consumer cross-category tastes, shopping behavior and demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. to enhance development of successful merchandising, co-promotion, and marketing plans. It is designed to be a useful tool for both manufacturers and retailers, as they ramp-up planning for the 2005 holiday season. Each January, NPD collects detailed information about consumers' shopping and purchase habits during the holiday season. NPD interviews approximately 10,000 individuals age 13+ from its online consumer panel of more than 2.5 million registered members. The report is written by NPD's entertainment industry experts, focusing on trends that had an impact on the home video, music and video games See video game console. markets during the holiday season. About The NPD Group The NPD Group, Inc. is a leading global market research company[1] founded in 1967 and provides consumer and retail information to manufacturers and retailers. Using actual sales data from retailers and distributors as well as consumer-reported purchasing behavior, NPD , Inc. Since 1967 The NPD Group has provided reliable and comprehensive sales and marketing information for a wide range of industries. Today more than 1,300 manufacturers and retailers rely on NPD to help them better understand their customers, product categories, distribution channels and competition in order to help guide their business. Information from The NPD Group is available for the following major vertical sectors: apparel, appliances, automotive, beauty, cellular, consumer electronics, food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , foodservice, footwear, home improvement, housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. , imaging, information technology, music, software, travel, toys and video games. For more information visit http://www.npd.com |
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