Today’s retail landscape is rapidly evolving. With access to anytime/anywhere information via their smartphones, shoppers have unprecedented visibility into product and pricing information. This infographic outlines the 3 key reasons why online retail price intelligence matters for every retailer - whether you sell online or not.
US consumers spent $42.28 billion on Internet purchases in the last two months of 2012, according to comScore. The web-based sales activity represented a 13.7 per cent rise on the $37.17 billion spent over the holiday shopping season of 2011.
In comparison to the record online shopping figures, sales at US chain stores rose by just 3.1 per cent year-on-year in the same period, revealed ICSC, the trade organisation for shopping centres. Gian Fulgoni, comScore's chairman, said that November started out at "a very healthy 16 per cent growth rate through the promotional period of Thanksgiving, Black Friday and Cyber Monday".
Overall, the holiday period generated 12 days of web spending greater than $1 billion, up from ten days in 2011.
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Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world's leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email email@example.com