‘Daily Wrap:’ Best Buy, Holiday E-commerce, Wal-Mart

Published on December 23, 2010 | Comments: 0
After more than three-and-a-half years of courtroom battles with the Connecticut Attorney General’s office, Best Buy has admitted that its in-store kiosks tricked consumers out of web price-matching and agreed to pay consumers in that state $399,000. StorefrontBacktalk reports Best Buy also said it would stop showing higher prices on its in-store kiosks and would “conspicuously disclose to consumers” if the kiosk was displaying lower prices.

Stats & Research

  • The final shopping weekend before Christmas reached $900 million in retail e-commerce spending, representing a strong 17% growth rate compared to last year.
  • The South and West saw the largest population gains in the latest US Census, at the expense of the slower-growing Northeast and Midwest.
  • The Conference Board Leading Economic Index (LEI) for the U.S. increased 1.1% in November 2010 to 112.4 (2004=100), following a 0.4% increase in October, and a 0.6% increase in September.
  • More than a third of US shoppers are planning to buy presents for a larger group of friends and loved ones this holiday season compared with last year, according to a survey by America’s Research Group, a consumer research firm in South Carolina.
  • Rising prices for birds and gold pushed the cost of the traditional “12 gifts of Christmas” - from the partridge in the pear tree to the 12 drummers drumming - up by 9.2% to $23,439.38, according to PNC Wealth Management, the second-biggest increase since the Christmas Price Index was started 27 years ago.
  • The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% in November 2010 on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported.

IT Operations

E-commerce & Multichannel Retailing

  • Groupon's growth from a little-known start-up peddling group-buying discounts to a shopping force that spawned countless clones and a rumored $6 billion bid from Google was one of the top tech stories in 2010.
  • Consumers for the first time got federally approved rules guaranteeing their right to view what they want on the Internet.

Marketing & Advertising

Supply Chain & Distribution

  • Dillard’s will locate an internet fulfillment center in Maumelle, Ark., in 2012 to support the continuing growth of its online business.

Get free retail and ecommerce headlines every day in your inbox. No spam, easy to unsubscribe.

Email:

On-topic and civil comments are welcome. Comments are moderated by the editorial team.




Please enter the word you see in the image below: