ShopLocal Releases Multi-Channel Retail Index Figures for September/October
November 12 2007 - 2:30PM
PR Newswire (US)
Slow Start to Holiday Shopping could be an Indicator of 'Soft'
Season CHICAGO, Nov. 12 /PRNewswire/ -- ShopLocal(TM), the leader
in multi-channel shopping and marketing services, today announced
the October 2007 results for the ShopLocal Index, indicating a slow
start to the shopping season. Compared to last year, the Index is
up 22 percent in September/October, a significant slowdown from the
29 percent increase through the month of August. This is in spite
of a 12 percent year-to-year increase in circular promotions by
retailers in the September/October period. The ShopLocal Index is
the advertising industry's first market indicator designed to track
the influence of the Internet on in-store shopping. The Index,
updated monthly, is based on the online activity of an average of
20 million monthly consumer visits to store promotions that are
presented on the sites of 50 major U.S. retailers, including JC
Penney, Best Buy, CompUSA, Walgreens and Home Depot. These
retailers cover major retail segments such as Computers, Consumer
Electronics, Office Supplies, Home Improvement, Department Stores,
Mass Merchants, Grocery, Drug and various specialty stores. October
2007 ShopLocal Index Highlights: -- The Index rose 16 percent for
October year-to-year, and was up 23 percent adjusted* for
seasonality. -- The slowdown was most noticeable in the Consumer
Electronics category which was only up 10 percent year-to-year.
This is a potential indication of customers waiting for better
deals or lower buying intent. -- The Home and Garden sector was
uniquely strong with 75 percent growth year-to-year, likely a
result of the unseasonably warm temperatures in most parts of the
country. -- Overall promotions are up 12 percent in the
September/October period year-to-year. -- As a result of the
popularity of downloadable songs, promotions for music CDs have
decreased five-to-25 percent at consumer electronics stores.
Interestingly, there has been a slight increase in CD promotions by
retailers at department stores and mass merchants. "There appears
to be a push/pull dynamic right now between retailers and
consumers, with retailers increasing the number of promotions but
shoppers still reticent to buy until they're sure they are getting
the best prices," said Vikram Sharma, CEO of ShopLocal. "With the
potential for a 'soft' season, we expect to see increased
promotions and heavy discounts on gift items, especially in
consumer electronics such as flat panel TVs, GPS devices and toys."
* Adjusted for page views with five Sundays in October 2006 and
four in October 2007. About ShopLocal ShopLocal, the leader in
multi-channel shopping services, offers a complete suite of
solutions connecting advertisers and consumers online and in-store.
The company's consumer Web site, ShopLocal.com, provides users with
choice and control in their shopping experience by offering the
most comprehensive selection of timely online and in-store offers
on one easy-to-use site. With ShopLocal.com, consumers can find
millions of products and up-to-date weekly sales, deals, and
coupons for consumer electronics, apparel, groceries and more.
ShopLocal's customers include Target, Best Buy, Home Depot, CVS and
Sears. ShopLocal powers multi-channel shopping for hundreds of
newspaper Web sites and other leading local and shopping sites,
such as Los Angeles Times, Miami Herald, Arizona Republic, Google
and SuperPages.com. ShopLocal is owned by Gannett Co., Inc.
(NYSE:GCI), Tribune Company (NYSE:TRB), and The McClatchy Company
(NYSE:MNI). For more information, visit
http://www.aboutshoplocal.com/. Available Topic Expert(s): For
information on the listed expert(s), click appropriate link. Vikram
Sharma
http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=55894
DATASOURCE: ShopLocal CONTACT: Marcy Dockery of ShopLocal,
+1-312-768-7523, Web site: http://www.aboutshoplocal.com/
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