FINANCE

comScore: Digital commerce soars in Q3

BY Dan Berthiaume

Reston, Va. – U.S. desktop-based e-commerce sales grew year-over-year to $47.5 billion during the third quarter of 2013, marking the 16th consecutive quarter of positive year-over-year growth and 12th consecutive quarter of double-digit growth. In addition, newly released comScore data shows that e-commerce spending on smartphones and tablets added $5.8 billion for the quarter, up 26% from year ago, for a total digital commerce spending total of $53.2 billion in the third quarter.

The top-performing online product categories were: digital content & subscriptions, apparel & accessories, CPG, consumer electronics, and jewelry and watches. Each category grew at least 14% from one year ago. E-commerce accounted for 9.4% of consumers’ discretionary spending, the highest third quarter share on record. Of the additional $5.8 billion in mobile commerce (m-commerce), purchasing using smartphones accounted for 62% as compared to 38% from tablets.

“Third quarter e-commerce spending grew 13% from a year ago, and although that marks a pretty healthy growth rate, it also represents a slight deceleration from the prior quarter,” said comScore chairman Gian Fulgoni. “Other macroeconomic indicators also suggested relative softness in discretionary spending, which offers some cause for concern as we head into the holiday season. Although there was evidence of slightly diminished consumer confidence in Q3, a more optimistic take is that increased outlays on large purchases such as new homes and automobiles may have temporarily squeezed other discretionary consumer spending. That said, the trend could still spell a challenging holiday season for retailers this year – particularly given the highly compressed calendar between Thanksgiving and Christmas, which contains six fewer shopping days than last year and is the shortest shopping season since 2002. Nonetheless, we are confident that the growth rate in online spending will once again far exceed that in bricks-and-mortar stores, reflecting the ongoing channel shift to e-commerce.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Walgreens completes Kerr Drug asset acquisition

BY Dan Berthiaume

Deerfield, Ill. – Walgreen Co. has completed its acquisition of certain assets of Kerr Drug’s retail drugstores and specialty pharmacy business. Financial terms of the agreement were not disclosed.

In fiscal year 2012, Kerr Drug’s retail drugstores and specialty pharmacy business recorded total sales of $381 million. As previously announced in September, the acquisition is an asset transaction and includes Kerr Drug’s retail drugstores, specialty pharmacy business and a distribution center. Kerr Drug retained ownership of its long-term care pharmacy business.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Kroger to invest $150 million in Dallas expansion

BY Dan Berthiaume

Dallas — During the next 24 months, Kroger will invest $150 million in North Texas to build five new Marketplace stores and to expand three locations, along with opening multiple fuel centers and remodeling existing properties. The growth initiative will create more than 1,700 full- and part-time career opportunities that offer competitive pay, healthcare plans, retirement options, product discounts and other incentives.

New stores will include Marketplace locations in Forney, Bartonville, North Richland Hills, Lewisville, and Granbury; as well as expanded stores in Flower Mound (22,000 new square feet and a fuel center), Irving (37,000 new square feet and an expanded fuel center), and Rockwall (17,000 new square feet). All new and expanded stores are expected to be completed no later than 2015.

"Kroger is a company that is focused on smart, strategic growth and providing a highly-satisfied customer shopping experience. Dallas is a market that continues to attract new residents and retailers because of its economic strength and stability," says Bill Breetz, president of Kroger Southwest. "We’ve operated here since 1958. In that period, we’ve grown our footprint to 85 stores and 43 fuel centers. We’ve successfully reached this point by closely monitoring the unique needs of this market and evolving to meet the requests of our customers."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...