REAL ESTATE

Topshop to make Los Angeles debut

BY Staff Writer

New York City — British fashion retailer Topshop will open its fourth store in the United States, in The Grove shopping center in Los Angeles.

The 25,000-sq.ft. store is expected to open in time for the 2012 holiday season, according to The Los Angeles Times.

To date, Topshop has opened in New York City and Chicago. It will open in Las Vegas, on March 8.

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OPERATIONS

Study: Mobile shopping on the rise

BY Katherine Boccaccio

Arlington, Va. — A new study released by the Consumer Electronics Association found that more consumers are using their mobile devices for online transactions.

The "Mobile Commerce — Reinventing the Way Consumers Shop" study found that 37% of mobile device owners are engaging in some form of commerce from their device. This could mean making a purchase, redeeming a coupon or gift card or searching for a coupon.

About 35% of all online transactions are completed via smartphone, tablet or cell phone, with electronics, clothing/footwear, books and music being the categories most often shopped. About 32% of mobile shoppers purchased an electronics product, the survey found.

"The future of mobile commerce is very promising," said Jessica Boothe, strategic research manager, CEA. "Consumers are open to new technologies as they continue to evolve and develop.

The mobile purchasing rate is expected to continue to grow, with consumers expected to spend, on the average, $575 on mobile purchases in the next 12 months. These people will also increase their couponing during that period.

On the flip side are those people who have either not made a mobile purchase or are hesitant to do so. About 35% had security concerns with mobile purchases, and half simply preferred shopping in another manner.

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J.Weiss says:
Feb-29-2012 05:23 pm

This comes as no surprise
This comes as no surprise because the mobile devices are so easy to use for shopping or financial transactions. It really does not seem that there will be any change to this either.

 

More and more people are using mobile devices on the right table for financial transactions like banking, shopping, and even reserving a table at a restaurant.

J.Weiss says:
Feb-29-2012 05:23 pm

This comes as no surprise because the mobile devices are so easy to use for shopping or financial transactions. It really does not seem that there will be any change to this either.

 

More and more people are using mobile devices on the right table for financial transactions like banking, shopping, and even reserving a table at a restaurant.

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FINANCE

PriceGrabber: Consumer spending to hold steady in 2012

BY Staff Writer

Los Angeles — More than 51% of consumers plan to spend the same amount of money in 2012 as in the previous year, according to a 2012 Shopping Outlook survey conducted by PriceGrabber, a part of Experian.

While more than half of the survey respondents plan to spend the same amount of money as they did last year, 21% indicated they plan to spend more, and 28% plan to spend less.

When those who plan to spend more were asked to select all of the reasons why, 36% cited confidence in the economy, and another 36% said that they expect retailers to offer better discounts this year. Thirty percent indicated that they are earning more money in 2012; 6% said that they are tired of being frugal; 5% cited a credit limit increase; and another 5% have found employment in the past year.

When the respondents who plan to spend less this year were asked to select all of the reasons why, 40% cited increases in prices such as gas, food and necessities; 34% said lack of confidence in the economy. Twenty-nine percent indicated they were making less money this year, and 16% said they overspent during the 2011 holiday season.

"Our data shows that shoppers plan to remain optimistically cautious with their spending again this year and expect retailers to continue to offer deals and incentives on products," said Graham Jones, general manager of PriceGrabber. "We expect retailers will continue to roll out a number of tactics, such as free shipping, larger discounts and online-only promotions to help win the consumer dollar this year, while implementing strategies that will span brick-and-mortar, online and mobile shopping platforms to entice consumers to shop."

Most consumers will combine online, brick-and-mortar and mobile shopping. When asked how they plan to shop in 2012, 45% said they will combine online, brick-and-mortar and mobile shopping. Forty-two percent said they will shop mostly online; 12% will shop mostly in brick-and-mortar stores; and 1% will shop primarily from a mobile device.

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