The government will spend $318.4 million to encourage more banks and payment providers to support the domestic solutions.
Retailers struggle under the weight of holiday returns: Global returns grew 63% YoY as economic concerns drove shoppers to rethink purchases.
For the first time in a while, workers chalk up wins: Amazon lost its appeal to the union victory, Apple store employees begin collective bargaining, and Home Depot scraps timesheet rounding.
Inflation is slowing: While that’s a good sign for the US economy, retailers still face challenges.
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.
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.
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.
Luxury brands look to China and the Middle East to sustain rapid growth: Despite economic uncertainty, global demand for luxury goods remains strong.