Walmart is undergoing a “much broader shift,” said our analyst Sky Canaves on our “Behind the Numbers: Reimagining Retail” podcast. Where Walmart was once seen as primarily a retailer, it’s pivoting into tech and services. Walmart’s business remains rooted in grocery, but through its retail as a service and Walmart+ offerings, it’s expanding that flywheel.
Consumers expect to spend nearly 10% more on Valentine’s Day this year: And nearly one-third plan to give the gift of an experience, the highest share ever.
See our latest industry KPIs for retail media.
Retail media networks will challenge Google and Meta, and offer retailers serious margins.
Becoming Amazon’s strategic payments partner in the US, Canada, and Europe can help Stripe bolster its processing business.
Attracting and retaining retail employees isn’t easy: But it's critical to delivering a high-quality customer experience. That’s why Walmart and others are boosting wages.
This year, US retail returns volume will reach $627.34 billion, representing 8.5% of all retail sales, according to our forecast. After surging in 2020 and 2021 (due to the pandemic ecommerce boom and stimulus-driven boost in consumer spending), growth normalized last year and will continue to slow through 2024.
As consumers balance the cost of necessities with the desire to splurge, secondhand luxury is a sweet spot, giving shoppers a way to treat themselves without breaking the bank. The category, which was valued at €43 billion ($45.21 billion) in 2022, will continue to grow, driven by cost-conscious and sustainability-minded consumers.
Bank of America, JPMorgan, and other banks are creating a digital wallet to compete with Apple Pay and PayPal—but there’s one catch.
The workers building the metaverse don’t believe in its potential: Nearly half of game developers think the immersive space won’t pan out, and advertiser interest could slow.
Walmart’s fledgling retail media business made big gains in Q4: Ad spending on the platform rose 31% YoY thanks in part to the ads’ growing effectiveness.
Retail union membership stalled in 2022: That’s despite successful and well-publicized unionization efforts at Starbucks, Amazon, and Apple.
Saks.com struggles in wake of ecommerce split: The company is laying off roughly 3.5% of its workforce after a disappointing season for department stores.
Potential UPS strike hastens last-mile diversification: Rival FedEx, as well as local carriers and retailers’ logistics services, are reaping the rewards as companies try to minimize disruption.