While consumer outlook is more positive than when inflation reached a 40-year high last year, the impact that shoppers face—higher retail prices, interest rate hikes, and depleted savings—may push cautious spending patterns into 2024. The key to having customers coming back in the new year is investing in unique value propositions, according to our analysts.
Retail’s revolving door slows: Nearly a third of retailers say turnover among hourly workers is down at least 10% year-over-year.
Financial institutions will need to jump through some hoops to attract these young adults and build long-term relationships with them.
Shein is on pace to become the top fast-fashion brand in the world this year: The retailer’s revenues soared by over 40% in the period between January and September.
Macy’s Q3 beat expectations, but department stores are under pressure: Shoppers’ search for value and cautious behavior is dragging sales down for the entire sector.
Cruise halts robotaxi service in major cities following a permit suspension over safety concerns. Eroding public trust in autonomous vehicles could derail wider adoption.
Walmart’s grocery, ecommerce business powered it through another solid quarter: The retailer’s emphasis on value and convenience are helping it win market share, even as shoppers exhibit more signs of price sensitivity.
US grocery ecommerce sales will grow 17.4% in 2024 to total $219.04 billion, according to our forecast. Meanwhile, UK grocery ecommerce sales will grow only 5.1% to total $37.06 billion in 2024. “At the end of the day, consumers in the US enjoy the conveniences of delivery, but they’re not necessarily willing to pay an exorbitant fee,” said our analyst Blake Droesch, emphasizing the perceived value of Walmart+ and Amazon Prime memberships to these shoppers.
Digital health startups to watch: We spotlight behavioral health-focused AI company Eleos Health and virtual cardiometabolic care platform Vida Health on the back of fresh funding.
The FTC isn’t sweet on social media influencers: It issued warning letters to two trade groups and a dozen influencers who didn’t clearly disclose that their posts were paid promotions. Healthcare and pharma advertisers, take note.
NYC teens get hooked up with free online therapy: The city gov’t and Talkspace are teaming up to make therapy more accessible for teenagers. We unpack the program’s details and explore why the timing couldn’t be better.
On today's podcast episode, we discuss the good, the bad, and what's missing from President Biden's new AI safety executive order. "In Other News," we talk about the potential of Microsoft's AI Copilot and Elon Musk's new AI chatbot called Grok. Tune in to the discussion with our analysts Jacob Bourne and Gadjo Sevilla.
WBD shelves 'Coyote vs. Acme' for tax break, igniting industry controversy: Raises ethical questions about prioritizing finance over creativity.
As ad-supported TV and streaming services become more popular, ad variations are becoming more crucial. Through small, tactical tweaks, a holistic campaign approach, and experimentation with shoppable formats, it doesn’t have to be a costly or daunting endeavor.
Tech talent flocks to the public sector: The US government is hiring more tech workers, offering stability and competitive salaries amid industry layoffs.
France and Germany oppose foundational model regulation in the EU’s AI Act, risking Europe’s AI advancement amid a global regulatory race. Delays could disrupt AI adoption in the region.
Former Google workers populate climate tech startups: Despite a 40% investment drop in 2023, climate tech shows resilience, outperforming broader VC markets and indicating robust potential for growth in 2024.
Despite Meta’s strong year, ByteDance is close behind: TikTok owner’s $29 billion in Q2 revenues rivals US giant, which lags far behind in growth.
The P2P platform faced scrutiny from lawmakers and the media about fraud, which has been a major pain point for adoption