Lego builds momentum: The company grew sales 13% in the first half of the year with strength across its portfolio.
Lowe’s is the latest retailer to walk back DEI pledges: While companies fear the specter of a Bud Light-level consumer boycott, they risk alienating the majority of consumers who expect brands to stand up for social issues.
Both retailers used generative AI to improve employee productivity in Q2—Walmart leveraged the tech to improve its product catalog and Target used it to enhance in-store employee tools. Target’s curbside pickup service helped it grow digital comparable sales 8.7% YoY, while Walmart’s marketplace and sales of GLP-1 drugs contributed to its 4.2% comp sales growth YoY.
The fraud prevention company could bolster Visa’s push into value-added services
Improvements in profitability sets up the company for a strong public offering, which is expected next year
US ad market grows 14% YoY in July: While spending continues, the industry remains cautious amid economic uncertainties and election-year volatility.
British shop prices fell YoY for the first time since October 2021: Retailers slashed prices to move summer clothes and household goods.
Holiday sales forecasts range between 2% and 4.8%: That variation reflects an unusual environment shaped by lingering inflation, potential interest rate cuts, and a volatile election season.
Digital advertising outperforms in 2024: Google, Meta, and Walmart drive strong midyear gains while smaller platforms face challenges.
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Shein was the No. 1 apparel retail site among US visitors in June, with 46.9 million unique visits, according to Comscore data.
The retail media landscape is dominated by national retailers like Amazon and Walmart, which boast the No. 1 and No. 2 retail media networks in the US by digital ad spend, per our forecast.
Unilever’s portfolio trimming continues with potential sale of two prestige beauty labels: The CPG company is reportedly in talks to offload Kate Somerville and REN as it focuses on its most profitable power brands.
Ikea’s business model evolves: In addition to experimenting with new store formats in new locations and bolstering its online presence, the furniture giant tests a peer-to-peer secondhand marketplace.
PDD warns of “intensified competition and external challenges” ahead: The parent company of Temu saw its revenue growth slow as shoppers in China pulled back spending on physical goods.
Online sales will also accelerate to close out 2024. Holiday ecommerce sales will rise 9.5% YoY, a pace not seen in the past two years, and total online sales for November and December will reach $266.89 billion.
Walmart Mexico aims to double sales by 2033: The retailer will rely on ecommerce to drive the growth, but first it needs to upgrade its operations and connect the physical and digital experiences.
This year, US holiday sales will reach a record $1.353 trillion, per our July 2024 forecast. That holiday season is starting earlier and earlier, which means marketers need to be prepared now for shopping to pick up in September and October. The election and consumer concerns about the economy will complicate where advertisers reach consumers and what messaging they use. Here are five stats marketers should see as they prep their holiday campaigns.
Targeting consumers is only half the battle for advertisers: Brands need to make sure their own services are quick and easy to use, lest they lose crucial consumers.