TikTok commands attention in the UK market: Though it doesn’t make the top 10 among mobile apps in terms of consumer reach, the app leads in time spent per user.
Venmo is the dominant P2P payment app in the US, with 52.2% of all P2P mobile payment users in 2022.
Most retailers plan to raise prices to cope with higher supply chain costs: But many also plan to offer more discounts to soften the blow and keep shoppers loyal.
Facebook is still the king of social commerce in the US. More than 60% of US social media users ages 14 and older will make a purchase via the platform this year, and about 40% will do so via its sister app Instagram. TikTok will grow the fastest in this regard, drawing nearly one-quarter of social buyers in that age group.
Retailers struggle to determine which items to keep in stock: With many working to shrink their swollen inventory stockpiles, some are cutting back on their fall and winter orders.
Grocery ecommerce has permanently accelerated and will approach 10% penetration in 2022. Ecommerce may still be a minor channel for food and beverage sales at 5.5% penetration, but the broader grocery market includes major sub-categories like pet products (36.0%) and health and personal care (16.5%), where ecommerce is a critical channel.
The programs are a part of Project REACh and can help Citi make up for potential losses in the event of an economic downturn.
Retailers grapple with rising retail crime: Ulta Beauty and Walgreens are some of the retailers investing in stronger store security measures to deter theft.
While Amazon Prime Day was bigger than ever this year, one key category took a hit. Electronics sales decreased by 5% from last Prime Day, while growth shot past 25% in home, garden, and tools, as well as in beauty and health.
Boots looks to spur growth by launching an online marketplace: The project comes just a few months after Walgreens Boots Alliance abandoned plans to sell the UK drugstore chain.
Delivery robots aren’t ready for prime time: A project that tested Kiwibot sidewalk delivery robots identified several key hurdles before the technology can effectively deliver food and other items.
Social commerce has a returns problem: A bad returns experience prevents most social commerce shoppers from becoming repeat customers, posing a serious threat to platforms’ shopping ambitions.
Bonobos connects store associates to online customers’ queries: While the model should help boost conversion and sales and lower return rates, it does come with some risk.
Cash App users can now pay on popular retail sites like American Eagle and JD Sports, which can help Block boost payments volume and revenues.