US sellers can now add the checkout feature to their websites, which can help it sweep in more volume and stay competitive.
After experiencing a surge in growth in 2021, US retail sales growth began to slow last year, a pattern which will continue into 2023. According to our forecast, sales will rise by less than 3% this year, reaching over $7.3 trillion.
Beware of the ‘retailpocalypse’ narrative: While retailers such as Gap and Macy’s shutter stores, there’s no sign that a broader bust is imminent.
Click-to-door time was as low as 4.4 days in July 2022 for non-Amazon digital retailers in the US, according to NielsenIQ. But Amazon has them beat by a lot, with an average click-to-door speed of 1.9 days.
Instacart’s grocery sales growth is slowing: With investors souring on app-driven delivery startups and a deceleration in its grocery sales, the company cut its internal valuation by 20%.
Babies R Us is coming back: But it isn’t clear whether consumers are looking for, or want, a dedicated baby concept.
Supply chain operators struggle with worker shortages and strikes: Cost-of-living struggles continue to spur labor activity at ports worldwide, driving companies to offer higher wages and improve benefits.
Airlines and card issuers are raising redemption thresholds on loyalty perks as travel demand roars back.
Streaming’s 2023 will be marked by price hikes: Embattled live TV service Fubo was the first to raise prices, but major rivals won’t be far behind.
Amazon looks to expand its reach on other merchants’ sites: The retailer is expanding its Buy with Prime service and allowing merchants to display Amazon reviews on their sites.
Consumers in China spent roughly $208 billion on ByteDance’s Douyin app: TikTok’s parent company is also seeing strong social commerce results elsewhere, while Instagram pulls back on shopping.
Albertsons’ ecommerce push is working: The grocer’s digital sales growth massively outpaced the broader US online grocery market in the most recent quarter.
Luxury brands look to China and the Middle East to sustain rapid growth: Despite economic uncertainty, global demand for luxury goods remains strong.
The expected record-high rates will raise demand for budgeting tools, rewards focused on everyday spending, and BNPL.