On today's episode, in our "Retail Me This, Retail Me That" segment, we discuss whether ecommerce actually accelerated 10 years in 10 weeks, what is happening by category, and the ceiling for the share of things Americans will buy online. Then, in our brand-new segment "Red-Hot Retail," our analysts give us their very specific—and potentially risky—predictions about what they think will drive ecommerce’s next phases of growth. Mild predictions are plausible outlooks. Extra-hot predictions are our pie-in-the-sky prognostications. The higher the spice level, the riskier the prediction. Join our analyst Sara Lebow as she hosts analysts Blake Droesch and Andrew Lipsman.
Once again, Walmart takes the No. 1 spot in our US grocery ecommerce sales forecast, but Instacart and Amazon are fighting for the second spot.
Instacart jumped from 10.2% of US digital grocery sales in 2019 to 21.5% in 2020, taking over share as people pivoted to online grocery deliveries. Walmart has had the highest digital grocery share since 2020, which put it in good shape this past earnings season when consumers cut back on superfluous spending and sought grocery savings.
Spending has shifted away from consumer electronics: That’s creating a challenging environment for Best Buy to navigate.
Gopuff seeks $300 million as rapid delivery demand slows: The food delivery platform is adjusting to the changing landscape by retrenching its expansion plans.
Pinduoduo’s Q2 revenues soared 36%: That’s a stark contrast from the middling results reported by Alibaba and JD.com.
Pinterest looks to revive flagging growth with Shuffles: The invite-only collage app is making waves on TikTok and boosting the platform’s appeal with Gen Z and younger audiences.
Affirm’s gross merchandise volume grew 77% YoY in Q4. It plans to launch new products and features to boost volume and engagement.
Beauty sales show no sign of slowing: Both Coty and Ulta Beauty reiterated a positive outlook as the premiumization trend continues.
Kroger invests in faster, better grocery delivery: The grocer is opening two highly automated fulfillment centers in Illinois and Tennessee to cast a wider net for ecommerce sales.
2022 will present retailers with a host of challenges as soaring consumer prices, high unemployment, and a plummeting currency weigh heavily on shoppers’ minds—and wallets.
Malls need to change: As department stores right-size and shift to smaller formats, mall operators need new types of businesses to drive people to their shopping centers.
Visa and Mastercard blamed fraud and intensifying competition for higher post-Brexit cross-border fees in responses to the UK Parliament.
Retailers take aggressive action to stem the tide of unionizations: Starbucks, Amazon, Trader Joe’s, and more are closing stores, delaying negotiations, and pursuing dogged legal action to keep unions from making headway.