Executive Briefings

The Way We Do Retail Changed Greatly in 2010

This year, more than ever, American consumers changed the way they shopped thanks in large part to web sites and apps that reshaped the discovery process with more tempting online offers, easier ways to compare prices, and innovative solutions for attracting customers to stores.

So far this holiday season, consumers have spent $27.5 billion online, a
12-percent increase over last year, compared with overall retail growth, which grew just 3 percent to 4 percent. And according to the National Retail Federation, e-commerce sales on Black Friday jumped 15% to make up 34% of all shopping that day. Meanwhile, daily deals sites like Groupon and LivingSocial are reporting banner years, and recently-introduced mobile apps like ShopKick claim rapid adoption, both from consumers and retailers.

Long gone are the days when consumers merely crawled through newspaper ads and trekked out to brick and mortar stores. Through the power of the web, the smartphone and the tablet, they have more options than ever.

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This year, more than ever, American consumers changed the way they shopped thanks in large part to web sites and apps that reshaped the discovery process with more tempting online offers, easier ways to compare prices, and innovative solutions for attracting customers to stores.

So far this holiday season, consumers have spent $27.5 billion online, a
12-percent increase over last year, compared with overall retail growth, which grew just 3 percent to 4 percent. And according to the National Retail Federation, e-commerce sales on Black Friday jumped 15% to make up 34% of all shopping that day. Meanwhile, daily deals sites like Groupon and LivingSocial are reporting banner years, and recently-introduced mobile apps like ShopKick claim rapid adoption, both from consumers and retailers.

Long gone are the days when consumers merely crawled through newspaper ads and trekked out to brick and mortar stores. Through the power of the web, the smartphone and the tablet, they have more options than ever.

Read Full Article