United States online retail market: Cyber Monday 2012 the biggest online shopping day in US history
Consumer Attitudes and Online Retail Dynamics in the US, 2013 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-21 20:50:02
The United States online retail market 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.
Furniture and floor coverings was the fastest-growing product group in the United States online retail market 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.
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.
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".
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.
The major focus of the retailer is to create a unified shopping experience for the customer by integrating their online and offline shopping channels.
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