Retail sales stay steady in July as consumer spending defies pundits’ pessimism: Retailers benefited from falling gas prices and a Prime Day boost, even as inventory woes ate into profits.
High real estate prices lead homeowners to invest in home improvements: Lowe’s and Home Depot continue to see strong demand from both DIYers and professionals.
This should be off-price retail’s moment: But TJX Maxx and Marshall’s reported declining sales and store visits in Q2 as inflation curbed demand for discount goods.
AtoB, Super Payments, and Pomelo each recently raised funding to build out their businesses.
US back-to-college retail spending will reach a new high of $73.9 billion this year, beating last year’s record of $71.0 billion and eclipsing the pre-pandemic figure of $54.5 billion in 2019.
The cost of school supplies is weighing heavily on US parents. Between May and June, 40% of those planning to do back-to-school shopping considered it a significant concern in their budget, compared with 30% last August. Meanwhile, 19% said they could not afford it, up from 14%.
China’s COVID-19 shutdowns hit high-end retailers hard: Tapestry and Estée Lauder are the latest companies to feel the brunt of a weakening Chinese economy.
TikTok announced new Shopping Ads this week in an effort to streamline in-app ecommerce.
Kohl’s doesn’t expect its fortunes to turn around anytime soon: The retailer slashed its financial forecast for the rest of the year, pointing to inflation as the cause for its softening sales.
We unpack the potential for cheaper consumer health devices as the FDA makes hearing aids directly available.
Affirm and Splitit struck partnerships to shore up growth as market uncertainty takes a toll on the BNPL sector.
Steep discounting hurt Target’s bottom line in Q2: But the retailer doesn’t expect the short-term hit to hamper its profits for the rest of the year.
More than half of US adults shop online at least once a week, and 16% do so at least once a day. Overall, online shopping is on the rise and moving to mobile.