RSS feed Get our RSS feed

News by Topic

BizReport : Ecommerce archives : November 18, 2014

comScore: Expect 16% retail growth over 2014 holidays

Retailers should expect significant ecommerce growth over the 2014 holidays. That is the takeaway from a new comScore forecast which predicts the 2014 online holiday spend will exceed $60 billion.

by Kristina Knight

comScore's experts predict desktop ecommerce to reach at least $53 billion while mobile is expected to bring in nearly $8 billion. Overall that indicates a 16% increase in spending over the 2013 holidays. Since Q4 of 2010, ecommerce growth has increased at least 10% Quarter over Quarter.

"The 2014 online holiday shopping season is shaping up to be a bright one with more than $61 billion in spending expected, representing a year-over-year growth rate of 16 percent across desktop, smartphones and tablets," said Gian Fulgoni, Executive Chairman Emeritus of comScore. "Although some lasting effects of the great recession still provide some overhang on the economy, many of the latest indicators point toward signs of optimism for consumer spending during the holidays. Negative economic sentiment is at a five-year low, the stock market is near all-time highs, and inflation has been kept in check. The one negative is that real wages for many middle-class Americans have not grown and in fact may have declined slightly. That said, the recent trends we've seen in online consumer spending suggest that American consumers are ready to open their wallets and embrace the spirit of giving this holiday season."

While the ecommerce sector does look bright for the holidays, experts with Criteo warn retailers that there is a shorter time between the Thanksgiving and Christmas holidays in the US, which means less time for shoppers to get into stores. Some interesting findings from Criteo include:

• Shopping orders increase 81% between Thanksgiving and December 19, historically
• Shopping cart sizes are largest on Thanksgiving ($147 average) and Christmas Day ($126 average)
• Retailers could see a 30% increase in conversion rates and a 5% increase in cart size this holiday season
• 48% of mobile purchases will come from tablets, 27% from smartphones

There are 20 shopping days between Thanksgiving and Christmas Eve.

Image via Shutterstock

Tags: 2014 holiday shopping, 2014 holiday shopping forecast, comScore, Criteo, ecommerce, ecommerce trends

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.