The number of drugstores is falling: CVS, Walgreens, and Rite Aid have all closed hundreds of stores over the past five years amid growing competition from discount retailers and online sellers.
Anthropic makes a breakthrough in AI safety research: It comes on the heels of OpenAI losing key safety researchers and bodes well for Anthropic’s marketplace reputation.
Consumers’ pullback on discretionary spend hits Target hard: The retailer’s sales continue to fall, while shoppers boost spending at Walmart and Amazon.
Petco is bullish despite short-term sales hit: The retailer expects the pet humanization trend to drive long-term success as Walmart, Tripadvisor, and Van Leeuwen also look to get a piece of the pie.
The old Google-Meta duopoly will claim less than 47% of digital ad spending this year. Adding Amazon brings the share above 60%. Every other digital ad publisher pales in comparison, including seemingly major players like Microsoft and TikTok.
Google rolls out genAI tools to help retailers market their wares: The features aim to make it easier for brands to create compelling content that grabs shoppers’ attention.
Amazon’s 2023 Prime Day events brought in a combined $13.88 billion in US ecommerce sales last year, according to our forecast. But as consumers remain cautious with their spending, Amazon is looking to boost sales outside of the July and October tentpole events.
Macy’s is in the first few innings of its turnaround plan: But it has already put runs on the board by soaring past bottom-line expectations and raising its outlook.
Lowe’s expects sales to remain pressured as high borrowing costs weigh on DIY demand: The company is shifting its focus to Pro consumers as it waits for the housing market to improve.
It also includes features to minimize checkout friction as Google Pay tries to streamline the experience
The regulator wants to improve cost transparency, setting up another regulatory battle for the networks
Nestlé targets GLP-1 users with line of nutritious frozen meals: The CPG company sees an opportunity to gain an early advantage as consumers shift to healthier options.
Retail media is traditionally dominated by, well, retailers. But as access to customer insights becomes increasingly important for advertisers amid cookie deprecation and mounting privacy laws, other industries are hopping on retail media’s bandwagon.
When retailers allow non-endemic brands to advertise, it benefits both sides. “Retailers can further monetize their data, while non-endemics, who have an appetite to expand their reach, are able to leverage that data,” our analyst Sarah Marzano said on an episode of the “Behind the Numbers: Reimagining Retail” podcast. Here’s why major retail media players such as Walmart and Home Depot have recently opened up their offerings, along with three best practices to boost performance.
Merchants must ensure that customers can use their preferred payment method.
Hallmark aims to bring its Hallmark movie town square to life: The company’s “Hallmark Christmas Experience” will feature event-exclusive Hallmark products with ticketed experiences.
Loyalty programs are becoming a bigger part of the retail landscape: Gatorade is the latest brand to use rewards to build loyalty (and acquire valuable customer data).
Dupe culture goes mainstream: Target and e.l.f. Beauty are among the companies benefiting from Gen Zers’ affinity for cheaper versions of premium products.
Can Apple entice hesitant consumers with a thinner iPhone? Smartphone buyers have been unimpressed with recent models. A flashy feature is a smart move if priced right.
Red Lobster files for bankruptcy after disastrous Endless Shrimp promotion: The company is closing restaurants and pulling back on promotions as it tries to turn its business around.