Consumer Attitudes and Online Retail Dynamics in the US, 2013
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 technology and are becoming more and more tech-savvy, with increasing usage of mobiles, internet and social media in the shopping process.
What are the key drivers behind recent market changes?
The practice of “show rooming,” or screening a product in a retail store and then purchasing it online, and “web rooming,” or screening a product online and then buying it in a retail store is becoming increasingly common. According to an Accenture survey, around 73% of consumers surveyed, had participated in the practice of “show rooming” at least once in the last six months, while 88% have been “web rooming”.
Key Features and Benefits
Understand the consumer behavior and online trends in the US
Understand which products will be the major winners and losers in the coming years
Learn from best practices approaches outline in the case studies of leading online retailers.
Improve market and strategic planning using highly granular, forward-looking market data. Detailed category coverage is provided, covering 25 products, across eight product groups that include: Apparel, Accessories, Luggage and Leather Goods, Book, News and Stationery, Electricals and Electronics, Food and Grocery, Furniture and Floor Coverings, Home and Garden Products, Music, Video and Entertainment Software, and Sports and Leisure Equipment.
Assess the impact of economic recession and recovery on market growth.
Key Market Issues
The Marketplace Fairness Act of 2013 passed by the US Senate proposes to collect sales tax from online retailers who sell more than $1 million in products annually.
Online retailing saw a big event in 2012, with Cyber Monday being recorded as the biggest online shopping day in US history. The proposed sales tax on online shopping is expected to affect the online retailing market,
The major focus of the retailer is to create a unified shopping experience for the customer by integrating their online and offline shopping channels.
Furniture and floor coverings was the fastest-growing product group with a CAGR of 14.79% during 2007–2012, followed by electrical and electronics with a CAGR of 11.92% during the same period.
Electrical and electronics was the largest product group with 33.6% of total retail sales in 2012.
Table of contents
1.1 What is this Report About?
2 Market at a glance
3 Consumer Insight: Online Shopping Attitudes and Behaviors
3.1 Overview of the US Online Shopping Environment
3.1.1 Increasing internet population and access to broadband encouraging online shopping
3.1.2 Usage of Smart Phone technology in retailing on the rise
3.1.3 Proposed Sales tax on online shopping to hamper online retailers
3.1.4 Brick-and-mortar retailers integrating their online and offline retail strategies
3.2 Consumer Attitudes and Behavior
3.2.1 Online Shoppers becoming more knowledgeable and sophisticated
3.2.2 Showrooming and Webrooming on the rise
3.2.3 Average online spend in the US increasing
3.2.4 Cyber Monday 2012 was the biggest online shopping day in US history
3.2.5 Social Media creating brand awareness amongst customers
4 Online Channel Dynamics
4.1 The Online Channel’s Share of Total Retail Sales
4.1.1 US online vs. offline channel forecasts
4.2 Channel Dynamics
4.2.1 US retail channel dynamics – future performance
4.2.2 Channel group share development
4.2.3 Individual channel performance
4.3 Category Dynamics
4.3.1 Online vs. offline retail sales comparison by category group, 2012
4.3.2 Online retail market dynamics by category
4.3.3 Online retail sales share by category group
4.3.4 Online retail sales growth by individual category
4.3.5 Food and grocery categories: market size and forecasts
4.3.6 Electrical and electronics categories: market size and forecasts
4.3.7 Music, video, and entertainment software categories: market size and forecasts
4.3.8 Apparel, accessories, luggage and leather goods categories: size and forecasts
4.3.9 Books, news and stationery categories: market size and forecasts
4.3.10 Sports and leisure equipment categories: market size and forecasts
4.3.11 Furniture and floor coverings categories: market size and forecasts
4.3.12 Home and garden categories: market size and forecasts
5 Case Studies: Leading Online Retailers in the US
5.1 Retailer 1: L.L.Bean
5.1.1 Business Description
5.1.2 Site Experience
5.2 Retailer 2: Bestbuy.com
5.2.1 Business Description
5.2.2 Site Experience
5.3 Retailer 3: Saks.com
5.3.1 Business Description
5.3.2 Site Experience
5.4 Other Innovative Retailers in the US
6.2 Summary Methodology
6.2.2 The triangulated market sizing method
6.2.3 Industry surveys in the creation of retail market data
6.2.4 Quality control and standardized processes
6.3 About Canadean
List of Tables
Table 1: Online Retail Sales in the US
Table 2: The US Online vs. Offline Retail Sales and Forecast (USD bn),2007–2017
Table 3: The US Online vs. Offline Retail Sales and Forecast (% Share), 2006–2016
Table 4: The US Overall Retail Segmentation (USD bn) by Channel Group, 2007–2017
Table 5: The US Channel Retail Sales and Forecast (USD bn) by Channel Group, 2007–2017
Table 6: The US Channel Retail Sales and Forecast (% Share) by Channel Group, 2007–2017
Table 7: The US Channel Retail Sales and Forecast (USD bn) by Channel, 2007–2017
Table 8: The US Retail Sales Split (USD bn), Online vs. Offline, 2012
Table 9: The US Online Retailers Market Dynamics by Category Group, 2007–2017
Table 10: The US Online Retail Sales and Forecast (USD bn) by Category Group, 2007–2017
Table 11: The US Total and Online Retail Sales in Food and Grocery Categories (USD bn), 2007–2017
Table 12: The US Total and Online Retail Sales in Electrical and Electronics Categories (USD bn), 2007–2017
Table 13: The US Total and Online Retail Sales in Music, Video and Entertainment Categories (USD bn), 2007–2017
Table 14: The US Total and Online Retail Sales in Apparel, Accessories, Luggage and Leather Categories (USD bn), 2007–2017
Table 15: The US Total and Online Retail Sales in Books, News and Stationery Categories (USD bn), 2007–2017
Table 16: The US Total and Online Retail Sales in Sports and Leisure Equipment Categories (USD bn), 2007–2017
Table 17: The US Total and Online Retail Sales in Furniture and Floor Coverings Categories (USD bn), 2007–2017
Table 18: The US Total and Online Retail Sales in Home and Garden Products Categories (USD bn), 2007–2017
Table 19: Canadean Retail Channel Definitions
Table 20: Canadean Retail Category Definitions
Table 21: Canadean Retail Country Coverage
List of Figures
Figure 1: Online Retail Sales in the US
Figure 2: Total Internet Users and Penetration, 2007–2012
Figure 3: Smartphone Technology in Online Shopping
Figure 4: Online and Offline Store Integration
Figure 5: Showrooming and Webrooming Process
Figure 6: Average Online Spend per User on the Rise
Figure 7: Sales during Holiday Season
Figure 8: Social Media Impacting Online Retail
Figure 9: The US Online and Offline Retail Sales and Forecast (USD bn), 2007–2017
Figure 10: The US Overall Retail Market Dynamics by Channel Group, 2007–2017
Figure 11: The US Retail Sales and Forecast (USD bn) by Channel Group, 2007–2017
Figure 12: The US Retail Sales, Online vs. Offline, 2012
Figure 13: The US Online Retailers Market Dynamics by Category Group, 2007–2017
Figure 14: The US Online Retail Sales and Forecast (USD bn) by Category Group, 2007–2017
Figure 15: www.llbean.com: Home Page
Figure 16: www.llbean.com: Well Organized Product Pages
Figure 17: www.llbean.com: Product Comparison
Figure 18: www.llbean.com: M-commerce Application
Figure 19: www.bestbuy.com: Homepage
Figure 20: www. bestbuy.com: Product View
Figure 21: www.bestbuy.com: Product Comparison
Figure 22: www.bestbuy.com: M-commerce
Figure 23: www.saks.com: Homepage
Figure 24: www.saks.com: Well organized Product Section
Figure 25: www.saks.com: Product Page offering Video Clips
Figure 26: www.saks.com: Mobile Apps
Figure 27: www.zazzle.com: Webpage Offering to Sell Your Designs
Figure 28: www.renttherunway.com: How it works
Figure 29: The Triangulated Market Sizing Methodology
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