Temu’s battle with Shein heats up: The ecommerce newcomer hopes to surpass the latter’s GMV this year as part of its quest to eventually take on Amazon.
Kroger is the latest retailer to boost wages amid a tight labor market: The grocer joins Walmart, Home Depot, Lowe’s, and DoorDash in enhancing benefits to attract and retain workers.
Search is already a major component of retail media; social is the next integration. Advertisers still view social media as a discovery medium and retail media as a conversion-driver. But both platforms are “potentially full-funnel,” according to Liz Cole, executive director and US head of social at VMLY&R, speaking at our “Attention!” summit.
Lego’s revenues rose 17% last year: The retailer aims to build on that strong momentum by hiring thousands of workers.
Dick’s Sporting Goods is optimistic about 2023: After a strong 2022, the sporting goods retailer is optimistic it can push past the strong economic headwinds.
Temu’s number of unique US visitors increased by nearly nine times between September and December 2022, according to Comscore Media Metrix Multi-Platform. That made Temu more visited than Chinese goods sellers Shein and Wish by the end of last year, before it rose to greater prominence with its Super Bowl ad campaign.
Like-for-like UK retail sales grew 4.9% in February: That beat expectations thanks to stronger-than-expected sales of fragrance and jewelry for Valentine's Day.
What do you get when you cross a $35 billion ad platform with a 160 million viewer streaming service? A snapshot of Amazon’s US retail media connected TV (CTV) potential. Luxury brand Movado is leveraging that potential to push video campaigns for Amazon Prime and Freevee viewers.
China faces a difficult road to recovery: Despite some encouraging signs of recovering consumer demand, falling exports and a property slump could weigh on confidence.
Latin America’s digital economy powers growth: Region will lead world in digital ad spending and ecommerce sales gains in 2023.
Its report found that many BNPL users have subprime credit scores and are under economic distress—which could increase the case for regulation.
Falling big-ticket sales hurt Costco’s ecommerce business in Q2: But the club retailer continues to benefit as shoppers rely on bulk-buying to mitigate inflation.
Tighter economic climate forces companies to focus on profitability: The paradigm shift away from long-term bets has driven changes everywhere from Amazon to Wayfair to Sweetgreen.
Consumers care about sustainability—until they check the price tag: Nearly two-thirds of US shoppers take environmental concerns into account when shopping, but only 35% are willing to pay more for green products.
Worldwide, retail sales growth has rebounded after taking a dive in 2020, per our forecast. Though growth rates won’t return to their pre-pandemic levels, they will stay steady through 2026. Meanwhile, ecommerce sales growth has decelerated after a few banner years, falling to single digits from 2022 through the end of our forecast period.
Though ecommerce growth has slowed from its explosive surge during 2020, it continues to make up a larger portion of total retail sales. Here are four strategies to cut through the noise and create a product-first, customer-centric strategy.
Retail media will be a $45 billion market this year and will continue to grow by about $10 billion in 2024, according to our forecast. Currently, the majority of retail media ad spend is driven by search. But the next phase will be driven by upper-funnel formats and in-store ad opportunities.