On today’s podcast episode, we discuss the challenges the credit card industry is looking at over the next year. • In our “Headlines” segment, we focus on an Insider Intelligence article published at the end of August about Macy’s private label credit card sales and consider if it’s a harbinger of problems in the credit card industry overall. • In “Story by Numbers,” we center the conversation on what will happen to consumer credit card spending if—or when—there’s a recession. • And in “For Argument’s Sake,” we take up sides to discuss whether there will or will not be a recession, which is a critical issue for the credit card industry. Tune in to the discussion with host Rob Rubin and our analyst David Morris.
The current department store model isn’t working: Macy’s, Kohl’s, and JCPenney are among the chains seeking to find a new formula that clicks with consumers.
“Little treat” culture has taken over TikTok. The hashtag #littletreat has amassed 41.4 million views, and video after video shows users justifying their small purchases because they “deserve a little treat.” But little treats can add up. So Gen Z and millennial consumers are using rewards apps to pay for their little luxuries, according to Wes Schroll, CEO of the rewards app Fetch.
Shopify looks to competitors for help as growth slows: The company’s partnerships with TikTok and Amazon should help with customer retention and acquisition.
UK BNPL usage rises as shoppers struggle to keep pace with inflation: More consumers are using the service to pay for groceries and other essentials.
Fewer than a third of US shoppers turn to department stores’ websites (31%) or brick-and-mortar locations (24%) when conducting beauty research, according to a May survey conducted by PowerReviews. In contrast, 71% turn to a specialty retailer’s website when researching new products.
Target is taking a page from Trader Joe’s: The retailer is adding over 20 new seasonal private label food items this fall, such as apple pie-filled cookies and honey-pumpkin goat cheese ravioli.
Global smartphone shipments could hit a decade low of 1.15 billion units—a 4.7% YoY drop. Innovation stagnation is the key culprit, but iPhones are gaining ground.
US extends AI chip ban to the Middle East: It could curb an underground market for Nvidia’s H100—while also fueling geopolitical tensions and hindering a multinational AI agreement.
Networks ask Nielsen not to use Amazon’s first-party football data: The future of sports broadcasting rights could hang in the balance of a measurement deal.
PlayStation drives up subscription prices at the worst possible time: Steep price hikes for its online service come as competitor Xbox has its biggest launch in years.
Whether EU regulators are satisfied could set a global precedent for tech regulation, affirming smaller players like Slack in challenging market dominance.
Tougher return-to-office rules could put jobs in jeopardy for those who don't comply, questioning the wisdom of following Big Tech's lead.
Alexa + Google Assistant = JBL speaker integration: For the first time, the assistants will be interoperable on smart speakers. More mutually beneficial collaborations could be ahead.
YouTube offers creators a community guidelines olive branch: The platform is offering a class to help creators penalized by a hyperactive “strike” system.
Reddit's balancing act: As it elevates its advertising suite with tools like Keyword Suggestions, it navigates community challenges ahead of its potential IPO.
On today's podcast episode, we discuss the quick adaptation and rejection of Threads by Instagram users, the complicated costs of bundling streaming services, where TikTok falls on the list of most influential social media apps, and more. Tune in to the discussion with our director of reports editing Rahul Chadha and analysts Evelyn Mitchell-Wolf and Max Willens.
US consumer spending accelerated in July: Low unemployment, pandemic-era savings, and wage gains helped consumers continue spending, even as they pulled back in some categories.
Dollar General is struggling: After reporting disappointing Q2 results, the retailer slashed its sales and profit outlook for the rest of the year.
Walmart expands third-party seller features as it tries to take on Amazon: The retailer is seeing early results from its marketplace initiatives, but its share of the market will remain at just 2.2% this year compared with Amazon’s 72.4%.