It will use Mastercard Send so customers in Australia and Hong Kong can send payments to more than 1.5 billion Mastercard cards.
Despite the word “recession” hanging in the air, US retailers had an okay Q4 in 2022. But some recurring themes persisted: Shoppers pulled back on discretionary spending, opted against home renovations, and generally avoided high prices. Here’s a look at how those trends affected earnings.
Grocery delivery loses its appeal as shoppers look for savings: Sales and order frequency fell in February, while mass merchants used their pricing power to woo cost-conscious consumers.
Kroger looks to reduce its operational costs: The grocer is testing self-driving trucks at several Dallas-area locations.
The gap between H&M and Inditex is getting wider: While Inditex records record profits, H&M veers toward a Q1 operating loss. (This article was written with the assistance of ChatGPT.)
Luxury retailer Cucinelli expects its revenues to rise 15% this year: That’s a three percentage point jump from its previous outlook as it is increasingly optimistic about its ability to expand into new markets.
Wix’s merchants can benefit from stronger fraud detection capabilities as card-not-present fraud risks increase.
Retail sales rose 6.4% in the first two months of 2023: While growth slowed in February, consumers continued to spend.
By 2026, US spending on ecommerce channel ads—a large subset of retail media—will be more than triple its 2020 level, per our forecast. Within the ecommerce channel, both search and display advertising are growing rapidly.
In-store pickup will emerge as the clear preference for US click-and-collect buyers.
Startups have had issues with payment processing and access to capital. Many crypto investors also swapped their USDC holdings for Tether.
H&M is the latest fast fashion retailer to embrace resale: The retailer launched H&M Pre-loved, its first resale platform in the US market, with around 30,000 items.
Asos is working with Criteo to expand its retail media business: The retailer hopes that retail media revenues can help it navigate the challenging economic environment.
Can robots help retailers overcome a tight labor market? Lowe’s, BJ’s Wholesale Club, and Sam’s Club are among the companies looking to robots to improve the customer experience.