TikTok’s makes a play for more ad dollars: Its Foursquare Attribution partnership could help advertisers optimize how they drive traffic to brick-and-mortar locations.
Unilever and Coca-Cola take a pared-down approach to D2C: Both companies are looking to smaller retail initiatives to test customer demand and gather data.
Best Buy broadens its focus beyond electronics as consumer spending shifts: The retailer is adding outdoor furniture, beauty, and e-transportation to its stores in a bid to maintain pandemic-era gains.
Ikea focuses on ecommerce with a €3.0 billion investment: The furniture retailer plans to add more distribution centers to stores and expand its urban footprint.
Retailers that thrived during quarantines are struggling as restrictions dissipate: Peloton, Gopuff, and Delivery Hero are among the retail companies that have seen sales plummet as people look to venture out rather than remain in their homes.
Party City falls short of analysts’ expectations in Q1: Like many retailers, the party supplies merchant is struggling to deal with COVID-19 spikes, supply chain issues, and inflation.
Online grocery order volume drops 5.8% in April: With inflation driving up food prices, many consumers are shopping in-store to hunt for deals and to avoid delivery fees.
Agencies spy an opportunity in the metaverse: WPP is partnering with Epic Games on a new initiative for that very reason.
Block’s gross payment volume increased 31% YoY, aided by strong Cash App engagement.
Some pandemic habits are sticking: Both DoorDash and Uber Eats reported higher revenues and order frequency, even as restaurants and shops return to full capacity.
Adidas and Under Armour see margins shrink as freight costs rise: Both retailers are also struggling to avoid the “severe impact” of lockdowns in China.
Amazon closes Whole Foods stores as revenue growth slows: After a disappointing first quarter, the retailer is focused on cutting costs and maximizing efficiency.
As online shopping continues to increase, gross payment volume (GPV) across digital commerce platforms in the US is expected to grow by 26.4% to reach $275.2 billion this year.
A wave of cost-cutting layoffs is coming: GoPuff, Thrasio, and Reef are among the companies rethinking their staffing levels as they shift focus to profitability.