State of the U.S. Online Retail Economy in Q3 2015
Digital commerce continues to grow at a strong year-over-year growth rate of 15% in Q3, with mobile commerce driving an increasingly meaningful contribution to the sector.
In this presentation, Comscore Chairman Emeritus & Co-Founder Gian Fulgoni and Comscore VP of Marketing & Insights Andrew Lipsman take an in-depth look at the online retail trends that will drive this holiday season and impact the market.
Key insights from the webinar include:
- Desktop e-commerce slowed to 8% for the quarter, but m-commerce accelerated to pick up most of the slack.
- M-commerce grew 70% year-over-year in Q3 and now accounts for 16% of digital commerce, but there is still significant friction in the mobile buying process.
- Most consumers only want a few retail apps on their phone, and their willingness to download has a lot to do with expected frequency of usage.
- Consumer sentiment is healthy, with only 26% of consumers rating economic conditions as poor, although there is a modest uptick in concern about financial markets.
- Continued health in the e-commerce channel, coupled with low gas prices and an extra shopping day between Thanksgiving and Christmas suggests that spending conditions are mostly favorable headed into the season.
- Cyber Monday is predicted to surpass $3 billion in online sales and once again become the heaviest online spending day in history for 6th straight year.