Consumer Attitudes and Online Retail Dynamics in the US, 2013

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Consumer Attitudes and Online Retail Dynamics in the
US, 2013


Reference Code: RT0091IS

Published: July 2013




      www.canadean-winesandspirits.com
                                                              Consumer Attitudes and Online Retail Dynamics in the US, 2013
                                                                                                                                     Published: July 2013




Table of Contents
        1.      Introduction................................................................................................. 6
        1.1       What is this Report About?................................................................................... 6
        2.      Market at a glance ...................................................................................... 7
        3.      Consumer Insight: Online Shopping Attitudes and Behaviors .............. 8
        3.1       Overview of the US Online Shopping Environment .............................................. 9
        3.1.1     Increasing internet population and access to broadband encouraging online shopping .... 9
        3.1.2     Usage of Smart Phone technology in retailing on the rise ................................................ 10
        3.1.3     Proposed Sales tax on online shopping to hamper online retailers .................................. 11
        3.1.4     Brick-and-mortar retailers integrating their online and offline retail strategies .................. 12
        3.2       Consumer Attitudes and Behavior ...................................................................... 13
        3.2.1     Online Shoppers becoming more knowledgeable and sophisticated ............................... 13
        3.2.2     Showrooming and Webrooming on the rise ...................................................................... 14
        3.2.3     Average online spend in the US increasing ...................................................................... 15
        3.2.4     Cyber Monday 2012 was the biggest online shopping day in US history ......................... 16
        3.2.5     Social Media creating brand awareness amongst customers ........................................... 17
        4.      Online Channel Dynamics ....................................................................... 19
        4.1       The Online Channel’s Share of Total Retail Sales .............................................. 19
        4.1.1     US online vs. offline channel forecasts ............................................................................. 19
        4.2       Channel Dynamics ............................................................................................. 21
        4.2.1     US retail channel dynamics – future performance ............................................................ 21
        4.2.2     Channel group share development ................................................................................... 22
        4.2.3     Individual channel performance ........................................................................................ 23
        4.3       Category Dynamics ............................................................................................ 25
        4.3.1     Online vs. offline retail sales comparison by category group, 2012 .................................. 25
        4.3.2     Online retail market dynamics by category ....................................................................... 26
        4.3.3     Online retail sales share by category group ...................................................................... 28
        4.3.4     Online retail sales growth by individual category .............................................................. 29
        4.3.5     Food and grocery categories: market size and forecasts ................................................. 29
        4.3.6     Electrical and electronics categories: market size and forecasts ...................................... 30
        4.3.7     Music, video, and entertainment software categories: market size and forecasts ............ 32
        4.3.8     Apparel, accessories, luggage and leather goods categories: size and forecasts ........... 33
        4.3.9     Books, news and stationery categories: market size and forecasts ................................. 34
        4.3.10 Sports and leisure equipment categories: market size and forecasts ............................... 35
        4.3.11 Furniture and floor coverings categories: market size and forecasts ................................ 36
        4.3.12 Home and garden categories: market size and forecasts ................................................. 37
        5.      Case Studies: Leading Online Retailers in the US ................................ 38
        5.1       Retailer 1: L.L.Bean ........................................................................................... 39


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 ©Canadean. This product is licensed and is not to be photocopied.                                            Reference code: XXXXXXXX
                                                                  Consumer Attitudes and Online Retail Dynamics in the US, 2013
                                                                                                                                                 Published: July 2013



       5.1.1     Business Description ......................................................................................................... 39
       5.1.2     Site Experience ................................................................................................................. 39
       5.2       Retailer 2: Bestbuy.com ..................................................................................... 45
       5.2.1     Business Description ......................................................................................................... 45
       5.2.2     Site Experience ................................................................................................................. 45
       5.3       Retailer 3: Saks.com .......................................................................................... 49
       5.3.1     Business Description ......................................................................................................... 49
       5.3.2     Site Experience ................................................................................................................. 50
       5.4       Other Innovative Retailers in the US .................................................................. 56
       5.4.1     Zazzle.com ........................................................................................................................ 56
       5.4.2     Renttherunway.com ........................................................................................................... 57
       6.      Appendix ................................................................................................... 58
       6.1       Definitions .......................................................................................................... 58
       6.2       Summary Methodology ...................................................................................... 63
       6.2.1     Overview ............................................................................................................................ 63
       6.2.2     The triangulated market sizing method ............................................................................. 63
       6.2.3     Industry surveys in the creation of retail market data ........................................................ 65
       6.2.4     Quality control and standardized processes ..................................................................... 65
       6.3       About Canadean ................................................................................................ 66
       6.4       Disclaimer .......................................................................................................... 66




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©Canadean. This product is licensed and is not to be photocopied.                                                      Reference code: XXXXXXXX
                                                                              Consumer Attitudes and Online Retail Dynamics in the US, 2013
                                                                                                                                                                       Published: July 2013




List of Figures
        Figure 1: Online Retail Sales in the US ........................................................................................................................... 7
        Figure 2: Total Internet Users and Penetration, 2007–2012............................................................................................. 9
        Figure 3: Smartphone Technology in Online Shopping .................................................................................................. 11
        Figure 4: Online and Offline Store Integration................................................................................................................ 13
        Figure 5: Showrooming and Webrooming Process ........................................................................................................ 15
        Figure 6: Average Online Spend per User on the Rise .................................................................................................. 16
        Figure 7: Sales during Holiday Season.......................................................................................................................... 17
        Figure 8: Social Media Impacting Online Retail ............................................................................................................. 18
        Figure 9: The US Online and Offline Retail Sales and Forecast (USD bn), 2007–2017 ................................................ 20
        Figure 10: The US Overall Retail Market Dynamics by Channel Group, 2007–2017 ...................................................... 21
        Figure 11: The US Retail Sales and Forecast (USD bn) by Channel Group, 2007–2017 ............................................... 22
        Figure 12: The US Retail Sales, Online vs. Offline, 2012 ............................................................................................... 25
        Figure 13: The US Online Retailers Market Dynamics by Category Group, 2007–2017................................................. 26
        Figure 14: The US Online Retail Sales and Forecast (USD bn) by Category Group, 2007–2017 ................................... 28
        Figure 15: www.llbean.com: Home Page ...................................................................................................................... 40
        Figure 16: www.llbean.com: Well Organized Product Pages ........................................................................................ 41
        Figure 17: www.llbean.com: Product Comparison ......................................................................................................... 43
        Figure 18: www.llbean.com: M-commerce Application................................................................................................... 44
        Figure 19: www.bestbuy.com: Homepage ..................................................................................................................... 46
        Figure 20: www. bestbuy.com: Product View................................................................................................................. 47
        Figure 21: www.bestbuy.com: Product Comparison ...................................................................................................... 48
        Figure 22: www.bestbuy.com: M-commerce .................................................................................................................. 49
        Figure 23: www.saks.com: Homepage .......................................................................................................................... 50
        Figure 24: www.saks.com: Well organized Product Section .......................................................................................... 51
        Figure 25: www.saks.com: Product Page offering Video Clips ....................................................................................... 53
        Figure 26: www.saks.com: Mobile Apps ........................................................................................................................ 55
        Figure 27: www.zazzle.com: Webpage Offering to Sell Your Designs ........................................................................... 56
        Figure 28: www.renttherunway.com: How it works ........................................................................................................ 57
        Figure 29: The Triangulated Market Sizing Methodology ............................................................................................... 64




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 ©Canadean. This product is licensed and is not to be photocopied.                                                                        Reference code: XXXXXXXX
                                                                                   Consumer Attitudes and Online Retail Dynamics in the US, 2013
                                                                           
				
DOCUMENT INFO
Description: Product Synopsis Provides in-depth analysis of the latest trends in online consumer shopping, covering drivers of online shopping, consumer insights, market dynamics (covering 25 product categories), and reviews of latest best practice in online retail site design. Based on the latest data, the report not only provides details of the size and growth of this increasingly important channel, it also provides essential context on the penetration of online sales by product groups, how growth has developed over time, and key drivers of this market in the future. Introduction and Landscape Why was the report written? “Consumer Attitudes and Online Retail Development in the US, 2013” is the result of Canadean’s extensive market research covering the online retail industry in the US. It provides the magnitude, growth, share, and dynamics of the online retail market in the US. It is an essential tool for companies active across the US’s online retail value chain and for new players considering entry into the US online retail market. It provides data for historic and forecast online retail sales, and also includes the business environment and country risk related to the US online retail environment. By examining best practice from leading national large-scale online retailers (but specifically excluding the likes of Amazon, whose sites are well-known and vary little by country), as well as reviewing innovative approaches from smaller players, the report provides insights and ideas about how best to approach growing online sales for your business. What is the current market landscape and what is changing? The retail industry in the US has transformed significantly in the past few years, with physical stores shutting down across the country and more consumers shopping online. There has been a tremendous change in consumer buying behavior as they now have a wide range of products, brands, and channels to choose from. In a sea of choices, consumers are leveraging techn
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PARTNER Canadean
Canadean has long held a reputation with FMCG markets for providing specialist business information by conducting detailed industry and consumer research, supported by insightful value-added analysis. We cover the entire spectrum of the consumer value chain from suppliers, brand owners, distribution channels and consumer insight. By researching markets in a holistic way, Canadean’s research methodology enables clients to make informed strategical decisions that are founded on robust and reliable data and market insights. We specialise in online survey panels, qualitative and quantitative in-country research, industry analysis and consultancy. Canadean’s dedicated in-country researchers and analysts have an industry background in marketing, market research, consulting and advanced statistical expertise. They are well positioned in the industries themselves and therefore, best placed to ask the right questions of the right people. This network of professional researchers stretches across more than 80 countries, enabling Canadean to conduct unique research via our trusted business communities.