‘Daily Wrap:’ Wal-Mart, Holiday Sales, Fradulent Returns
Wal-Mart Stores Inc, has invested
in China's top online consumer electronics and communication products retailer in a push to extend its reach to more Chinese buyers, according to Business Times. Chinese online business-to-consumer company 360buy Jingdong Mall has secured $500 million USD in funding from six strategic partners, including Wal-Mart.
Stats & Research
- Early reports of 2010 holiday sales indicate retailers had their best season since the pre-Great Recession year of 2007.
- Top online retailers sent each of their subscribers 4.2 promotional emails on average during the week ending Dec. 24, 2010; which is down 5% week-over-week, up 1% from where it was four weeks ago, and up 30% year-over-year.
- Gallup's Economic Confidence Index averaged -26 during the week ending Dec. 26; better than earlier in the month, but not enough improvement to bring the month's average up to that of November 2010.
- The query volume for Bing-powered search engines (which includes Microsoft Bing as well as Yahoo) grew 4.3% from October to November 2010, increasing from about 4.38 million to 4.57 million, according to new data from Compete.
- Compete Online Shopper Intelligence reports that of consumers who spend more than half their holiday budgets online, 23% will spend more money this year than they did last year.
Fraud, Theft & Security
- Unfortunately, there are crooks who will prey on retailers and honest customers to take advantage of liberal return policies by making fraudulent returns.
- Deep in the bowels of Walt Disney World, inside an underground bunker called the Disney Operational Command Center, technicians know that you are standing in line and that you are most likely annoyed about it.