Dive Brief:
- A new survey from CashStar and Texas A&M’s Center for Retail Studies identifies so-called “Brand Mavens” as essential to long-term success of retailers.
- The study defines the segment as digitally proficient, brand-loyal shoppers who exercise substantial spending power and have influence on their peers.
- Brand Mavens motivate others to try and buy new brands, according to the study.
Dive Insight:
Brand Mavens wield considerable influence over retailers’ success, according to a recent survey from CashStar and Texas A&M’s Center for Retail Studies.
Brand Mavens often motivate peers to make trial and repeat purchases through gift cards, the study says. Such branded currency forms the foundation of their digital engagement. On average, they spend $1,100 on gift cards every year and redeem $700 themselves, the study says.
Representing 53% of U.S. shoppers, Brand Mavens tend to be educated, female (60%), financially responsible, and in committed relationships. Furthermore, they shop all the major retail verticals and across channels. 66% of them read product reviews, and they are active on social media.
