Comscore Uncovers Significant Rise in Digital Consumer Spending in State of Retail Report
Comscore (NASDAQ: SCOR) has released its 2020 State of Retail report, highlighting changes in consumer spending amid the COVID-19 pandemic. The report indicates that nearly 25% of discretionary spending is now digital, with mobile spending growing 16% year-over-year in Q2 2020, compared to 5% for desktops. Free shipping has become crucial for online purchases, with half of consumers prioritizing it. Online grocery spending soared to $13.1 billion in Q2 2020. These insights aim to assist retailers and advertisers in adapting to evolving consumer behaviors.
- Total digital commerce accounts for nearly 25% of discretionary spending.
- Q1 2020 saw the highest share of digital retail spending ever during the pandemic.
- Mobile spending increased 16% year-over-year in Q2 2020.
- Online grocery spending reached $13.1 billion in Q2 2020.
- None.
RESTON, Va., Oct. 20, 2020 /PRNewswire/ -- 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.
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's5% 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.
For more information and to purchase the full report, please visit comscore.com/Retail2020.
About Comscore
Comscore (NASDAQ: SCOR) is a trusted partner for planning, transacting and evaluating media across platforms. With a data footprint that combines digital, linear TV, over-the-top and theatrical viewership intelligence with advanced audience insights, Comscore allows media buyers and sellers to quantify their multiscreen behavior and make business decisions with confidence. A proven leader in measuring digital and TV audiences and advertising at scale, Comscore is the industry's emerging, third-party source for reliable and comprehensive cross-platform measurement. To learn more, visit www.comscore.com.
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SOURCE Comscore
FAQ
What key insights does the Comscore 2020 State of Retail report provide for SCOR?
How has COVID-19 impacted consumer spending patterns according to SCOR's report?
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How much did online grocery spending grow in Q2 2020 according to SCOR?
