‘Daily Wrap:’ Online Holiday Sales, BJ’s, Pizza Hut
For the holiday season to date, $30.81 billion has been spent online
, marking a 13% increase from the corresponding days last year, according to comScore.
The most recent week (ending Dec. 26, 2010) witnessed $2.45 billion in spending, an increase of 17% from the corresponding week last year.
Mergers & Acquisitions
- Leonard Green, which bought 9.5% of BJ's Wholesale Club last summer, could launch a hostile bid to buy BJ's if the company doesn't go forward with a reportedly planned auction soon.
Marketing & Advertising
- Pizza Hut is giving away 1,111 Stuffed Crust Pizzas on 1/1/11.
- PepsiCo’s Frito-Lay North America division plans to switch more than six dozen varieties of its products to all natural ingredients by the end of 2011, with Lay’s, Tostitos and SunChips leading the way.
Stats & Research
- The Conference Board Consumer Confidence Index, which had improved to 54.3 in November 2010, decreased slightly to 52.5 in December 2010.
- Canadian retail sales increased for [pdf] the fifth consecutive month, rising 0.8% to $36.6 billion CAD in October 2010.
- American Express Business Insights data indicates the [pdf] dining industry experienced increases in quick service restaurant (QSR) spending across all income groups, seeing an 11% increase in overall spend for this category.
- The snowstorm that swept through the Northeast kept shoppers home on Sunday and Monday and delayed about $1 billion in postholiday spending, according to a report released by ShopperTrak which also predicts much of the lost spending will be recaptured later this week.