New report uncovers shifting consumer retail trends emerging from COVID-19 pandemic
The COVID-19 pandemic has significantly changed consumer behavior, forcing retailers to navigate a new era of retail and e-commerce habits as an unprecedented holiday shopping season quickly approaches. Against this changing landscape, Comscore (Nasdaq: SCOR), a trusted partner for planning, transacting and evaluating media across platforms, is thrilled to release its in-depth 2020 State of Retail report.
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Drawing from Comscore’s consumer panel and custom surveys, Comscore’s 2020 State of Retail report explores the shifting trends across the retail industry, the impact of the COVID-19 pandemic, and what this holiday season may look like for the industry. The report includes 60 pages of insights to help advertisers and retailers understand how digital commerce and consumer sentiment has changed, which segments are experiencing rapid growth and how brands can best connect and engage with their audiences.
Key insights include:
- Total Digital Commerce accounts for nearly 1 in 4 discretionary dollars spent by consumers.
- During the coronavirus pandemic, Q1 2020 saw the highest share ever of digital retail spending.
- Consumer spending on mobile continues to grow at a faster pace than desktop. Mobile spending grew 16% year-over-year in Q2 2020, compared to desktop spending’s 5% growth.
- Free shipping continues to be a major factor for consumers when shopping online: 5 in 10 said Free Shipping was the most important factor when making an online purchase.
- Online grocery spending has skyrocketed. Mobile spending on grocery reached $13.1 billion in Q2 2020.
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