Amazon’s 2023 is off to a difficult start: The retailer said it would lay off over 18,000 workers as it prepares to weather global uncertainty.
“We used to talk about ‘omnichannel’ and we should just be talking about ‘commerce.’” That’s according to our analyst Suzy Davidkhanian, speaking on our “Behind the Numbers: Reimagining Retail” podcast.
Everlane, Stitch Fix, and Helen of Troy shed headcount: Softening demand is driving retailers to take cost-cutting measures to help weather a potential economic downturn.
DoorDash looks to returns to spur growth: Its latest offering lets consumers request for someone to pick up their prepaid return packages and deliver them to a dropoff location.
Instacart will retain its status as grocery delivery king this year, capturing 73.0% of US digital grocery sales among third-party delivery services, per our forecast. However, competitors such as DoorDash and Uber will continue to eat away at its dominance.
A group of senators sent a letter to Synchrony and Wells Fargo about their credit cards designed for medical expenses.
We all know that 2023 will be the year of retail media, social commerce, and lingering economic uncertainty. But here are some more targeted possibilities for the year ahead.
The tight jobs market shows few signs of loosening: Workers still have their pick of jobs, which could drive wage growth and keep inflation high in 2023.
Amazon could be forced to take a more active role in policing sales of counterfeit and stolen products: A new ruling in the EU could hold the retailer responsible for trademark infringements by sellers on its platform.
Hong Kong’s November retail sales fell unexpectedly as COVID-19 controls loosened: Pent-up demand for travel and difficult economic conditions are driving a shift in consumer spending.
Bed Bath & Beyond nears bankruptcy: The retailer says inventory challenges and slowing foot traffic are forcing it to consider options for restructuring, including bankruptcy.
Discounts shattered records during the 2022 holiday season: Those deals helped retailers sustain discretionary spending throughout November and December, despite a challenging economic climate.
Conagra boosts its outlook: Higher prices and a shift in its product mix are why the company expects annual sales to rise between 7% and 8% for fiscal 2023.
Fintech stocks and indices underperformed broader financial services and technology stocks last year—here’s why that matters.