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.
As many as 25 celebrities and influencers have launched beauty brands over the course of the last three years, according to Business Insider. While some (like Rare Beauty by Selena Gomez) have exploded, others (particularly those founded by social media influencers) are having a hard time finding their footing. What does it take to build a successful celebrity beauty brand?
1-800-Flowers expands its offerings: Just in time for Valentine’s Day, the retailer launches an online marketplace to broaden the array of items shoppers can find on the site.
There’s often a perception that markets in Asia developed digital offerings far faster than the US and Europe—that’s only partially true in retail.
Payment startups might be better off cutting costs and scaling back expansion plans until the funding climate improves.
This year, card-not-present (CNP) fraud will account for $9.49 billion in loss, up 8.5% over last year, according to our data. CNP will make up 73.0% of card payment fraud loss this year, up from 57.0% in 2019.
Lowe’s goes from DIY to party planner: The home improvement retailer will begin offering kids’ party packages at select stores in an attempt to build brand loyalty and bring more potential shoppers in-store.
Wayfair is the latest retailer to try to reverse the effects of pandemic overexpansion: The company is cutting roughly 1,750 workers to reduce bloat and get back to its fundamentals.