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.
Block’s gross payment volume increased 31% YoY, aided by strong Cash App engagement.
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.
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.
Amazon closes Whole Foods stores as revenue growth slows: After a disappointing first quarter, the retailer is focused on cutting costs and maximizing efficiency.
Agencies spy an opportunity in the metaverse: WPP is partnering with Epic Games on a new initiative for that very reason.
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.
Inflation hasn’t hurt retail sales, which grew 7.2% in April: That growth stems from people flocking to stores. In-store sales rose 10.0%, while ecommerce sales fell 1.8%.
On today's episode, we discuss whether augmented reality (AR) and virtual reality (VR) will rival the smartphone as the next big platform, the impact of 3D advertising, how in-store shopping habits have changed, whether there really is an attention economy slowdown, what to do about inflation, an unpopular opinion about video chats, which way people fold their arms, and more. Tune in to the discussion with our senior director of Briefings Stephanie Taglianetti, director of forecasting Oscar Orozco, and analyst Dave Frankland.
Insider intelligence spoke with Andrew Condispoti, co-CEO of Goodlife Clothing, about the brand.
Ad agencies expand their ecommerce capabilities as brands ask for help: Publicis Groupe acquires ecommerce vendor Profitero while competitor WPP makes it easier for brands to sell D2C with a new end-to-end platform.
Fiserv will let merchant clients using Carat offer Affirm to their customers as demand for BNPL intensifies.