State of the U.S. Online Retail Economy in Q1 2017
Despite the ongoing challenges of brick-and-mortar retail, digital commerce continued to flourish in Q1 2017 with strong double-digit growth on its way to an all-time high as a share of total retail spending.
In this presentation, Comscore SVP of Marketing & Insights Andrew Lipsman examines the latest online retail trends and their impact on retailers going forward.
Key insights from the webinar include:
- Consumer sentiment of the economy over the last two quarters was its most positive since before the recession
- Retail digital commerce in Q1 2017 was the first ever non-holiday quarter to exceed $100 billion and now accounts for nearly 1 in every 5 discretionary dollars spent by consumers
- M-commerce grew its share of total digital commerce dollars to 22% in Q1 2017, and there are now three product categories that have the majority of their digital dollars coming from mobile
- The Apparel & Accessories category grew its online spend at a faster rate than total online retail for 11 of the past 13 quarters, and as a result, has gained share of total digital commerce dollars over the past few years
- Mobile apps are a critical touchpoint for driving shopping and buying, but the opportunity is limited for most retailers to get their apps downloaded and used
- Leading retailers are ramping up aggressive omnichannel strategies to capture more overall market share