US consumers spent $2.17 billion on social media apps in 2022, nearly half a billion more than the year before, according to data.ai. Worldwide, social app spend hit $7.28 billion last year, up from $6.32 billion in 2021.
Millennials are parenting. Gen Z is entering the workforce. And the never-ending wheel of time has spun a new generation for marketers to watch: Generation Alpha. The oldest members of this digitally native, pandemic-influenced generation are tweens now, and marketers need to pay attention to how today’s children differ from their Gen Z older siblings.
As Gen Zers’ buying power grows, retailers need to understand the best ways to connect and engage with them, whether that’s through leaning into product discovery or creating a more seamless payment process. We take a look at some of Gen Z’s shopping habits and what they mean for retailers.
Walmart benefited from shoppers’ growing thriftiness: The retailer continues to gain market share in grocery, including among higher-income households.
Economic and regulatory hiccups for BCI startups: Brain-computer interface companies started to take off last year but now face economic and supply chain realities, which could stifle innovation while China becomes more competitive.
2 in 3 US adults are mobile health app users: Two surveys show how much consumers are turning to health apps for fitness and wellness. What’s driving the growth?
Twitter sparks up cannabis ads: The social media platform opens the door to cannabis companies to boost ad revenues in the US, but it will need to recover its reputation among Big Pharma.
Mednow adds Caregiver features: Canada’s virtual pharmacy lets family caregivers manage meds and in-home doctor visits through its mobile app as the country’s elderly population grows.
Barnes & Noble revamps its membership program: By adding a free tier, it aims to build customer loyalty and, at the same time, gather information about shoppers’ habits and preferences.
Big Tech tries cooperation, not combat, with EU regulators: Platforms are trying to adapt to new norms around data privacy and advertising.
On today's episode, in our "Retail Me This, Retail Me That" segment, we discuss brands that are losing their edge, approaching the edge, on the edge, and over the edge—and how they got there. Then for "Pop-Up Rankings," we rank the top four brands that came back from the edge, and how they did it. Join our analyst Sara Lebow as she hosts director of Briefings Jeremy Goldman and analyst Zak Stambor.
Apple and Microsoft’s unlikely alliance: Microsoft is enabling Windows 11 to run on Apple’s latest Macs, potentially opening up a new market for Apple in enterprise and education.
FTC sharpens tech oversight amid AI revolution: Big tech’s opaque algorithms pushed the FTC to create an Office of Technology to rein in the industry. Search wars pose a regulatory wildcard.
Cybersecurity inoculated but not immune to recession: A survey shows cybersecurity professionals faring well during a recession. But with sector startups already feeling the downturn pressure, job security isn’t guaranteed.
Budgeting app Money Lover went quiet after learning its APIs could be easily hacked. FIs must take steps to ensure they’re not next.
It’s weighing the sale of its universal banking business, just as banks turn their focus to core banking cloud migration.
Regulation will spur growth in the ESG fintech market: The increasing difficulty of staying in compliance could expand the opportunity from $21B today to $160B in the next five years.
Highlighting benefits to regional and community banks can help shore up relationships as fraud concerns mount.