The “gift card” keychains replace single-use cards and can encourage repeat use among recipients
Pride Month draws business support despite anti-LGBTQ+ sentiment: 2023 brought hard lessons for some brands.
As more retailers recognize the value of leveraging their first-party data, the global retail media market will continue to expand and innovate. While the US leads the charge with $45.15 billion in spending this year, according to our forecast, other regions are showing similar patterns. In fact, Latin America is only four to five years behind the US, said our analyst Matteo Ceurvels on our “Behind the Numbers: Around the World” podcast.
US ecommerce marketplaces will account for $384.57 billion in sales this year, a growth of 10.2% over 2022, according to our forecast. That growth will accelerate through the end of our forecast period in 2027, at which point sales will surpass $600 billion. “Amazon has really written the playbook for operating a successful marketplace in the US,” said our analyst Sky Canaves. Here’s a closer look at how the three biggest US ecommerce marketplaces stack up.
Shoppers really hate waiting in lines: Eighty-two percent of consumers avoid going to businesses with lines, while longer waits are making both shoppers and employees unhappy.
US retail sales are falling back to Earth: After years of massive growth rates, we expect US retail sales to increase 2.9% this year.
Over half (53%) of executives worldwide say their leading concern regarding their digital advertising strategy is being able to reach target audiences effectively at scale, per IDC.
Telehealth helps capture patients: Healthcare marketers cannot miss out on the opportunity to promote convenient healthcare offerings to consumers.
The cost of medical care keeps rising: Continued inflation, workforce shortages, and demand for specialty drugs will cause a 7.0% for health plans in 2024.
Publishers deal with AI’s existential threat to news: The New York Times and others could form a rare coalition to protect themselves from AI.
Will the CNN+ debacle repeat itself? Warner Bros. Discovery is planning to bring CNN content to Max, but things are different than last time.
A growing share of parents is looking for back-to-school deals: As consumers are generally resigned to spending more this year, 69.5% are hunting for sales and coupons.
China’s rebounding luxury market will give global sales a boost: Personal luxury sales are forecast to grow between 5% and 12% this year.
Meta project targets ad industry’s AI obsession: It’s building a recommendation algorithm that could dwarf OpenAI’s GPT-4 to capture user engagement and enhance targeted ad strategy.
Microsoft, OpenAI slapped with $3B class-action lawsuit: It’s the latest in a litany of legal woes facing the generative AI pioneers. Judicial and legislative outcomes are uncertain.
Some 29% of US adults are taking less expensive trips this summer due to inflation, according to Bankrate. Slightly fewer (28%) are engaging in cheaper activities as inflation, which has cooled slightly, wears on.
US banks and credit unions are prioritizing deposit growth into 2024. They’re also looking for revenue generation as their bottom lines are squeezed.
Credit unions argue they can handle climate-related financial risks on their own. If regulators want to help, they should look to insurers.
Coupled with other loan and banking updates, the card can help Square tighten SMB relationships
WeChat Pay and Alipay users can now link foreign credit cards to their platforms