FINANCE

comScore: Online sales up 13% in Q1

BY Marianne Wilson

Reston, Va. — E-commerce sales grew 13% year-over-year to $50.2 billion, marking the fourteenth consecutive quarter of positive year-over-year growth and tenth consecutive quarter of double-digit growth, according to comScore. It was also just the second quarter on record to surpass $50 billion in spending.

The survey also revealed that nearly half (48%) of time spent in the retail category occurred on mobile devices, with smartphones (34%) outpacing tablets (14%).

"The first quarter of 2013 was fairly strong for online retailers, with total e-commerce sales surpassing $50 billion for only the second time on record," said comScore chairman Gian Fulgoni. "While the year-over-year growth rate of 13% remained healthy, it was a point or two below that of the preceding quarters. One potential explanation for this mild deceleration is the payroll tax increase, which went into effect in 2013 and which removed some disposal income from Americans’ wallets.”

Fulgoni added that, as long as job growth continues and consumer sentiment remains positive, the outlook for e-commerce in 2013 remains bright.

“However, one wild card is the possible enactment of legislation requiring state sales taxes to be collected on every e-commerce transaction — which would reduce the Internet’s traditional price advantage and possibly dilute the channel’s growth rate,” he explained.

Other highlights from the comScore report:

  • The top-performing online product categories were: digital content & subscriptions, apparel & accessories, sport & fitness, consumer electronics, and consumer packaged goods. Each category grew at least 20% versus a year ago.
  • E-commerce accounted for 10.6% of discretionary dollars spent, the highest share on record.
  • comScore’s new m-commerce spending estimates revealed that apparel & accessories was the highest grossing mobile (i.e. smartphone & tablet) product category with nearly $1 billion in first quarter sales.
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A.Jose says:
May-11-2013 09:57 am

This is a good indication
This is a good indication that the company is doing well hope this will last. - Michael Courouleau

A.Jose says:
May-11-2013 09:56 am

This is a good indication
This is a good indication that the company is doing well hope this will last. - Michael Courouleau

J.Dy says:
May-11-2013 08:25 am

This is a good indication
This is a good indication that the economy is going well. Netizens are spending and this good for the economy. - Michael Courouleau

A.Jose says:
May-11-2013 09:57 am

This is a good indication that the company is doing well hope this will last. - Michael Courouleau

J.Dy says:
May-11-2013 05:57 am

This is a good indication
This is a good indication that the economy is really doing well in this quarter. I just hope that this one will continue until year end. - Michael Courouleau

A.Jose says:
May-11-2013 09:56 am

This is a good indication that the company is doing well hope this will last. - Michael Courouleau

J.Dy says:
May-11-2013 08:25 am

This is a good indication that the economy is going well. Netizens are spending and this good for the economy. - Michael Courouleau

J.Dy says:
May-11-2013 05:57 am

This is a good indication that the economy is really doing well in this quarter. I just hope that this one will continue until year end. - Michael Courouleau

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REAL ESTATE

Starbucks celebrates new store in Tokyo

BY Marianne Wilson

Tokyo — Starbucks Coffee Company’s CEO Howard Schultz on Friday celebrated the opening of the new Starbucks Meguro store in Tokyo. The store, whose experience was inspired by the traditional Japanese ‘Ichi-go ichi-e’ service spirit (literal translation: one time, one meeting), is located is the same building as the new Starbucks Coffee Japan Support Center.

The design of the Meguro takes its queues from traditional tea houses, as well as modern craftsmanship and translucent elements that allow consistent interactivity between customers and partners. Parts of a green garden and local contemporary art are also featured in the store. These elements provide another point of connection with the local community

Starbucks is on track to open its 1,000th store in Japan this summer. The country was Starbucks first international market outside of North America.

“We will soon exceed 1,000 stores in Japan, an important milestone in our development, and we are confident that there is plenty of opportunity for more innovative growth and development in this dynamic market,” Schultz said.

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FINANCE

Report: Canada’s YM to buy parent company of Mandee

BY Staff Writer

New York — Big M, owner of the Mandee, Annie Sez and Afaze apparel chains, will be sold to YM Inc., Toronto, in a $22.5 million deal expected to be approved by a bankruptcy judge next week, The Record reported.

YM operates more than 600 young women’s specialty stores under a variety of banners, including Stitches, Urban Planet, Bluenotes, Siblings, and Sirens.

The acquisition of the 129 Mandee, Annie Sez, and Afaze stores would give YM, which has started opening stores in the United States, a strong foundation on which to expand on the East Coast, the report noted.

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J.Dy says:
May-13-2013 02:40 pm

My question is what will
My question is what will happen to the people who are employed with this company, will the be absorb by YM INC.? - YOR Health

J.Dy says:
May-13-2013 02:40 pm

My question is what will happen to the people who are employed with this company, will the be absorb by YM INC.? - YOR Health

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