CoffeeTable, the top-ranked catalog app for iPad, today revealed the first Couch Commerce Index (CCI), a free quarterly report generated by the company to track consumer engagement in the tablet space. Monitoring data since October 2011, CoffeeTable's Q2 CCI shows that consumers are significantly more comfortable with tablet shopping since Q4 2011, the index benchmark. Based on industry-wide consumer confidence data points, analyst forecasts and proprietary numbers, the CCI is calculated using indicators of tablet commerce, specifically measuring change in overall economic consumer confidence, growth in tablet penetration, and change in shopper engagement and conversion rates.
Tablet purchases in the U.S. are experiencing a sharp rise, with more than 40% of households expected to own a tablet by the end of 2012. As a result, alongside e-commerce on computers and m-commerce on mobile phones, "couch commerce has emerged as one of the fastest growing consumer purchasing trends. Couch commerce is driven by individuals who browse and make purchases using tablets (mobile devices greater than five inches in size, such as the iPad), generally occurring at nights and on the weekends from the comfort of their home - typically from the couch or the bed.
"The name was a tossup between Couch Commerce and Bed Commerce, but we were afraid that Bed Commerce might be misconstrued," laughingly remarked CoffeeTable CEO, Ben Choi. "The primary driver for growth in Q2 is the accelerating consumer demand for tablets. Consumers are using tablets to shop, and retailers are catching on - improving features and simplifying the shopping experience."
The Q2 CCI is the industry's first look into second quarter metrics surrounding this consumer segment. With tablets increasing penetration in the U.S. at a 32% annual growth and driving 6.5% of total e-commerce site visits, couch consumer spending has increased 19% from Q4 2011 to Q2 2012. As such, the CCI raised 5 points from its position in Q1 2012 at a rating of 114, to 119 in Q2 2012, an indicator in couch consumer behavior leading into Q3.
"As we move into the second half of 2012, tablet adoption is on a clear path to continue its momentum," said Choi. "The combination of the nearing holiday season and retailers' increasing savvy in the tablet space means only good things for uptick and gains in couch commerce confidence."
CoffeeTable quickly rose to the #1 catalog app in the App Store and has nearly doubled its user base from its launch in 2011 to now. With more than 140 brands choosing CoffeeTable as their tablet partner, the company has seen the number of retailers using its solution increase four times over during the past three months.
CoffeeTable is a free catalog shopping application for the iPad, aggregating leading retailers and boutiques into a single app for a premium browsing, shopping and purchasing experience. Established in the fall of 2011, CoffeeTable has already earned a top spot in the Catalogs category in the Apple App Store, secured multiple rounds of funding and features over 140 U.S. brands including Neiman Marcus, Kohl's, Merrell, Crate and Barrel, dELiA's, West Elm, Tory Burch, Lands' End and more. CoffeeTable is financially backed and supported by RR Donnelley, the worldwide leader in print catalog and marketing services.