The interest-bearing accounts can help Wise compete with money transfer rivals, but it might struggle to get mainstream adoption.
US retail sales fell 0.6% in November: But spending on services like restaurants and travel continues to grow as shoppers prioritize experiences over physical goods.
H&M faces several challenges: In addition to competing against retailers such as Zara and Shein, it has to grapple with a slowdown in discretionary spending.
Orders made via buy now, pay later (BNPL) increased 85% over Cyber Five, according to Adobe Analytics. “It’s a win-win for retailers” as it increases basket size and boosts conversion rates, our analyst Grace Broadbent said on the “Behind the Numbers: Reimagining Retail” podcast.
A wave of store closures could hit in 2023: Slowing sales amid a broader economic slowdown could force mid-tier retailers to shutter brick-and-mortar stores.
Travel industry poised to keep climbing in 2023: Though inflation and the chance of a recession could cause some turbulence, pent-up demand will buoy airlines and hotels.
Shoppers hold out for Super Saturday sales: A record 158 million consumers are expected to shop that day as Amazon, Target, and Walmart ramp up promotions.
Chewy plans to launch a retail media platform next year: The retailer hopes to leverage its highly engaged Autoship customers to bring in advertisers.
Central bank Gov. Philip Lowe outlined four goals and initiatives to help improve Australia’s payments system.
What does 2023 have in store for retailers? The answer is a bit of a mixed bag.
November retail sales in China fell well short of expectations: Retail sales fell 5.9% YoY during the last month of China’s strict zero-COVID policy.
Amazon will account for 38.2% of all US ecommerce sales this year, per our estimates. In addition to dominating the books, music, and video category, Amazon will capture 50.3% of computer and consumer electronics ecommerce sales and 47.0% of office equipment and supplies ecommerce sales in the US.
Zara parent Inditex is poised to benefit from shoppers’ cost concerns: The retailer saw double-digit sales growth across the first nine months of the year as consumers across all markets bought more cheap clothes.
Inflation eased in November: Slowing grocery inflation and falling energy costs are giving consumers and businesses a reason for optimism heading into 2023.
Cost challenges associated with a new reimbursement policy have spooked community banks—but customers’ love for the service could make it hard to shed.