State of the US Online Retail Economy in Q3 2016
Digital commerce continues to grow strongly, while the recent acceleration in mobile commerce is driving an increasingly meaningful contribution to sector growth.
In this presentation, Comscore VP of Marketing & Insights Andrew Lipsman examines the recent trends in online retail through Q3 with an eye toward what it means for the 2016 holiday season.
Key insights from the webinar include:
- Q2 and Q3 both had especially strong year-over-year growth rates, despite an uptick in negative sentiment.
- Full employment, wage growth and low gas prices all provide a base for a strong Q4.
- Mobile retail visits grew strongly year-over-year; however, mobile apps are driving an increasing amount of retail activity, which tends to favor the large established brands like Amazon and Walmart.
- M-commerce hit 20% of digital commerce spend for the first time ever in Q3.
- Black Friday has become a huge day for mobile retail, and it could potentially surpass Cyber Monday this year for digital traffic.
- Cyber Monday is predicted to surpass $1 billion in mobile sales for the first time and once again become the heaviest online spending day in history for the 7th straight year.