The network discussed its crypto strategy at its North American Innovation Day
The European payments fintech hopes to appeal to businesses increasingly looking for unified commerce tools
Modern card issuers are turbocharging the issuer processor space by offering API-based, customizable card solutions for non-financial services companies. Mobile payment services, ecommerce marketplaces, and the gig economy are in their sights—along with $17.12 billion in issuer processing revenues.
The 15 biggest US ecommerce players aren’t a surprise (here’s looking at you, Amazon, Walmart, and Apple). User-friendly mobile apps, quick delivery, innovation, and converting sales are what turn retailers into ecommerce powerhouses. Here are the companies our analysts believe best exemplify those features within the 15 largest ecommerce players.
Financial stress rises as high inflation, market volatility weigh on consumer confidence: Fifty-eight percent of US households are living paycheck to paycheck, including almost one-third of affluent households.
Consumers’ pullback in discretionary spending is having an outsized impact on Best Buy: The retailer’s comparable sales fell 10.1% year-over-year in Q1.
Target offers a year-long return policy for its private labels: That’s a very different approach from most retailers, which have made steps to clamp down on returns.
Walmart Connect looks to attract more self-service advertisers: Adding new creative partners to bolster self-service campaigns should help it attract more small- and medium-sized businesses to its platform. (This article was written with the assistance of ChatGPT.)
Some retailers are testing digital freezer screens that act as real-life pop-up ads, while others are leaning on in-person events to build brand awareness. Digital kiosks combine in-store sampling, promotion, and digital media—a win-win for retailers and brands alike.
Adoption of digital wallets is approaching critical mass, but they won’t replace physical wallets anytime soon. However, a super app may be on the horizon, especially if companies can crack the ability to integrate payments with shopping services.
Moving away from retail can help it overcome growth roadblocks, while a look to China could signal what’s coming for the space
The tie-up gives Stripe a lucrative opportunity in the trending resale market—which may be better suited to weather an economic downturn
Increasingly cost-conscious consumers pivot away from restaurant delivery: Nearly half of all consumers have picked up their carryout orders themselves rather than have them delivered.
Target pulls LGBTQ-themed items ahead of Pride Month: The retailer succumbs to pressure after store associates experienced threats.
European household budgets are under pressure: Food prices are soaring, which is forcing consumers to make tough choices about where to spend their money.
Supply chain stability and lower freight expenses help retailers’ margins: Abercrombie & Fitch, Kohl’s, and Urban Outfitters all posted surprising profits in Q1.
Alibaba and JD.com, China’s other ecommerce giants, never gained substantial traction in the US, partly due to their lack of spending to acquire customers. US-based Wish spent heavily on digital ads and rode the pandemic-driven ecommerce boom to an IPO—but has since lost its way.
Online shoppers expect seamless delivery: Over half of consumers may leave a negative review in the wake of a shipping or delivery issue.
Brands can take a page from lululemon athletica’s playbook and hold a dupe swap to show consumers what they’ve been missing or use social media to give a behind-the-scenes look at how a product is made. Other strategies include leaning into secondhand and adding less expensive alternatives.
Gen Zers will drive the growth of emerging payment methods, opening the door for providers to reach them through digital and mobile. But card-based payment methods are still relevant. To tap their rising spending power, providers must align their offerings with how Gen Z prefers to pay.