The interest-bearing accounts can help Wise compete with money transfer rivals, but it might struggle to get mainstream adoption.
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.
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.
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.
What does 2023 have in store for retailers? The answer is a bit of a mixed bag.
Central bank Gov. Philip Lowe outlined four goals and initiatives to help improve Australia’s payments system.
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.
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.
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.
Cost challenges associated with a new reimbursement policy have spooked community banks—but customers’ love for the service could make it hard to shed.