On today’s podcast episode, we discuss the challenges the credit card industry is looking at over the next year. • In our “Headlines” segment, we focus on an Insider Intelligence article published at the end of August about Macy’s private label credit card sales and consider if it’s a harbinger of problems in the credit card industry overall. • In “Story by Numbers,” we center the conversation on what will happen to consumer credit card spending if—or when—there’s a recession. • And in “For Argument’s Sake,” we take up sides to discuss whether there will or will not be a recession, which is a critical issue for the credit card industry. Tune in to the discussion with host Rob Rubin and our analyst David Morris.
Global smartphone shipments could hit a decade low of 1.15 billion units—a 4.7% YoY drop. Innovation stagnation is the key culprit, but iPhones are gaining ground.
Social commerce and livestream shopping are playing a larger role on TikTok as the platform builds out its ecommerce business, though influencers still have a lot of sway in purchase decisions, especially among Gen Z. To be successful on TikTok, marketers need to lean into discovery and put content at the heart of their strategy.
The current department store model isn’t working: Macy’s, Kohl’s, and JCPenney are among the chains seeking to find a new formula that clicks with consumers.
Fewer than a third of US shoppers turn to department stores’ websites (31%) or brick-and-mortar locations (24%) when conducting beauty research, according to a May survey conducted by PowerReviews. In contrast, 71% turn to a specialty retailer’s website when researching new products.
Target is taking a page from Trader Joe’s: The retailer is adding over 20 new seasonal private label food items this fall, such as apple pie-filled cookies and honey-pumpkin goat cheese ravioli.
Shopify looks to competitors for help as growth slows: The company’s partnerships with TikTok and Amazon should help with customer retention and acquisition.
UK BNPL usage rises as shoppers struggle to keep pace with inflation: More consumers are using the service to pay for groceries and other essentials.
Affiliate marketing is maturing into a multidimensional, full-funnel channel. But not everyone is convinced of its potential, said Alexandra Forsch, president of Awin Americas. For senior decision-makers, affiliate marketing is “considered a very tactical channel and not a strategic one, and as such, it’s not as attractive,” Forsch said on a “Behind the Numbers” podcast episode.
Toy sales growth can be attributed to kids’ shifting interests, the influence of online platforms, and expanding into older audiences. In our recent “Behind the Numbers: Reimagining Retail” podcast episode, we dive into trends impacting toy retail sales and how marketers can reach new consumers.
US consumer spending accelerated in July: Low unemployment, pandemic-era savings, and wage gains helped consumers continue spending, even as they pulled back in some categories.
Dollar General is struggling: After reporting disappointing Q2 results, the retailer slashed its sales and profit outlook for the rest of the year.
Walmart expands third-party seller features as it tries to take on Amazon: The retailer is seeing early results from its marketplace initiatives, but its share of the market will remain at just 2.2% this year compared with Amazon’s 72.4%.
Lululemon’s strong momentum continued in Q2: The retailer raised its full-year sales and profit outlook as demand for its premium athleisure remains strong across all markets.
Global digital services taxation is intensifying with New Zealand aiming to tax companies like Meta and Google 3% of profits by 2025.
Amazon’s advertising division ranked highest in our Power of Amazon in 2023 report. Its retail ecommerce division, Amazon’s biggest business by dollars, lost share between our initial rankings in 2021 and our current forecast.
Michaels and Shutterstock are navigating growth through a blend of creative initiatives and hard metrics. Michaels is focused on enhancing its customer experience and its new online marketplace. Shutterstock is leaning into SEO, automated dashboards, social listening, and collaboration.
Estée Lauder, Uber Eats, Walmart see internal and external opportunities for generative AI: But others are expressing caution due to the technology’s inconsistencies.
The service lets companies create and push virtual cards to their employees’ mobile wallets
Best Buy warned that rising net credit losses could become a problem if the financial health of the consumer deteriorates in the coming quarters