Buy now, pay later (BNPL) will play a major role in how consumers shop this holiday season as they seek out budget-friendly ways to pay. To capture a bigger share of holiday sales, BNPL provider Klarna has introduced a new suite of tools to help bridge the digital-physical gap with AI-powered technology and shoppable media.
US mortgage demand is at its lowest rate since 1995: The weak housing market is driving up demand (and prices) for rentals, which could lead to more interest rate hikes.
YouTube keeps rolling out shopping tools: The latest update enables creators to make the shopping button appear at relevant points in their videos.
Procter & Gamble plans to ease up on price hikes: The company plans to raise prices between 1% and 2% this year as it tries to return to volume growth.
Kroger’s retail media arm goes green: Kroger Precision Marketing is working with Scope3 to measure carbon emissions, pushing advertisers to recognize the environmental impact of wasted impressions.
Half of shoppers worldwide have used social media to discover products, per Salesforce, but even more (59%) have used it to purchase something.
Over one-third (38%) of US adults have decreased their impulse spending this year, up from 14% in 2022, per a study commissioned by Slickdeals and conducted by OnePoll. As we enter the holiday season, there are still a few ways retailers can encourage impulse purchases, from experimenting with shoppable media and putting seasonal products front and center to anticipating the last-minute needs of customers picking up orders in-store.
Not all UK consumers are benefiting from easing grocery inflation: Some grocers, like Tesco and Sainsbury’s, are offering lower prices to loyalty members to encourage signups.
Better-than-expected September retail sales point to the continued health of US consumers: Shoppers are largely keeping up with inflation, while finding room to splurge on experiences.
The new year is just around the corner, and it’s a great time for retailers to take stock of what worked and what didn’t in 2023 and stay informed on what consumers will expect in 2024.
A hurting US ad market is showing signs of recovery. Our forecast predicts 3.8% growth in overalUS media ad spend this year, for a total of $353.86 billion. Magna upped its US ad spend forecast for 2023 YoY growth from 4.2% to 5.2% in September. And in August, the US ad market achieved two consecutive months of growth for the first time since last June.
Walmart Connect now offers an ad certification program that helps advertisers understand how the retail media network operates and the types of ad formats it offers.
On today’s podcast episode, we explore the problematic relationship between credit unions and Gen Z. • In our “Headlines” segment, we discuss an article from PYMNTS.com that revealed only 4% of Gen Z consumers bank with credit unions. • In “Story by Numbers,” we consider what credit unions can do to capture Gen Zers’ attention while working with tight marketing budgets, and which programs have helped Gen Z consumers manage their finances. • In “Actual CEO,” we discuss with our guest CEO what she is currently doing to engage with Gen Zers at her credit union. Listen to the podcast with host Rob Rubin and Tansley Stearns, CEO of Community Financial Credit Union.• In our “Headlines” segment, we dig deep on a recently published Insider Intelligence report covering our forecasts for ad spending by US banks and credit unions. • In “Story by Numbers,” we discuss how fewer mortgages are affecting banks' net interest income and what that means for their marketing budgets. We also examine Ally Bank’s increased ad spending. • In “For Argument’s Sake,” we talk about how large banks are doubling down on digital ad spending while smaller institutions are cutting their spending, which could lead to the eventual demise of smaller traditional banks. Tune in to the discussion with host Rob Rubin and our director of forecasting Oscar Orozco.
Gen Z consumers feel the pinch of inflation: While 73% claim to have adjusted spending due to higher prices, plenty remain willing to splurge on everything from beauty to travel.
But growing credit card borrowing comes with risks for issuers as delinquencies also rise
The BNPL product also includes customer safeguards that can help mitigate overextension concerns
Amazon and Walmart build out their delivery infrastructure: Both companies look to boost the speed and efficiency with which they fulfill shoppers’ online orders.
Sweetgreen has big expectations for its salad-making robots: The restaurant chain sees automation as the key to shorter lines, consistent offerings, and higher profits.