comScore reported today on the retail e-commerce spending for the first 35 days of the 2010 holiday season. For the 2010 holiday season-to-date, more than $17.5 billion has been spent online, marking a 12% increase in a year to year comparison in the corresponding days in 2009. The most recent week (Nov. 29 - Dec. 5) yielded $5 billion in spending (+6%). Cyber Monday marks the heaviest spending day (+16), followed by Black Friday (+9).
According to Nielsen’s 2010 Global Health and Beauty Trends Report price (69%), preferred brands (65%) and friends’ recommendations (58%) are the primary drivers for beauty product purchases.
The number of modern trade stores has increased 4.5 times in the past decade according to The Nielsen Company. Convenient stores, drugstores, hypermarkets, supermarkets and warehouse clubs are considered modern trade stores. The growth of modern trade stores indicates the increased consumer need for convenience, wider selections and low prices. The study suggests that these changes in consumer behavior are driven by the strong economic growth in the region. There is an implication that consumer time becomes more scarce in thriving economies, driving the need for one-stop-shopping experiences.
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