Gen Z will make up 20% of the population in the US this year, putting it solidly in line with millennials, Gen X, and baby boomers, per the US Census Bureau. That said, 42% of Gen Zers will still be minors, and as a result their spending power will remain below that of older generations.
There’s often a perception that markets in Asia developed digital offerings far faster than the US and Europe—that’s only partially true in retail.
As many as 25 celebrities and influencers have launched beauty brands over the course of the last three years, according to Business Insider. While some (like Rare Beauty by Selena Gomez) have exploded, others (particularly those founded by social media influencers) are having a hard time finding their footing. What does it take to build a successful celebrity beauty brand?
Dollar General isn’t ready for retail health primetime: It’s piloting mobile health clinics in Tennessee—but lacking an in-store element leaves it far behind established retail health players.
Is Amazon’s RxPass too good to be true? We look at the pros and cons of the new program, which offers some generic prescriptions for a flat $5 per month.
Ro goes all-in on weight loss: The D2C healthcare firm is adding a comprehensive weight loss program to its arsenal, but pricing will likely be an issue for consumers.
TikTok bans in colleges go viral: The fallout from students and teachers could be indicative of wider pushback against banning the app.
Disney to bring Hulu ad targeting to its streaming properties: Move should bring efficiencies as Netflix looks to bulk up its ad tier.
Spotify’s layoffs put profit over growth: 6% of its global workforce is being let go as a result of macroeconomic challenges and slower increases in listeners.
Second “Avatar” hits a milestone, but theaters aren’t celebrating: Cinemas are shuttering, unable to compete effectively with streaming.
The workers building the metaverse don’t believe in its potential: Nearly half of game developers think the immersive space won’t pan out, and advertiser interest could slow.
People aren’t eating out as much as they’d like to: There’s a growing disconnect between consumers’ intentions to go to restaurants and their actual behaviors.
Saks.com struggles in wake of ecommerce split: The company is laying off roughly 3.5% of its workforce after a disappointing season for department stores.
Google’s ChatGPT conundrum: Generative AI is becoming a headache for the tech giant that wants to take the ethical high road while also staying competitive in a fast-moving market.
A biological robot breakthrough: A research team set a new milestone in the emerging field of biorobotics. Its mouse cell bots show potential for softer, simpler robots that leverage evolution.
Xfinity ascends as broadband speed leader: Xfinity was the fastest fixed broadband provider in 14 states during Q4 2022. The competition wasn’t far behind, proving broadband in the US is improving.
Payment startups might be better off cutting costs and scaling back expansion plans until the funding climate improves.
The bank proactively identified the mishaps and avoided a penalty, but its violations show that even the basics can go wrong.
Complex sanctions, elaborate money laundering schemes, and powerful tech give financial criminals an upper hand.