Retailers are more focused on their bottom lines: With interest rates high, retailers grew more conservative in their staffing throughout 2023.
On today’s podcast episode, our analyst Bill Fisher asks forecasting writer Ethan Cramer-Flood and forecasting analysts Oscar Bruce Jr. and Zach Goldner about the most interesting Insider Intelligence international forecasts of the past year, as well as what we can expect for 2024.
Luxury faces more muted growth prospects: An excerpt from our report explains how and why luxury sales growth will slow in the coming years compared with the explosive growth seen in the recent past.
33% of US Gen Z consumers have purchased a product from an influencer-founded brand in the past year, followed by millennials (29%), according to Morning Consult.
The partnership will help PayPal grow Braintree—which is one of its core focuses
The network also forecasts a surge in ecommerce returns, per its 2024 economic outlook
Uptake has been slower than anticipated, and we may not see FedNow’s impact on the payments industry for years to come
Nascent partnerships from 2023 will start packing a punch in 2024. Companies without an overwhelming market advantage will need to join forces with rivals or complementary partners to keep boosting revenues.
Before retail media, brands would pay retailers to market their products, but weren’t necessarily involved in how they were promoted. “Now, it’s more of a conversation,” said Melanie Babcock, vice president of Retail Media+ and monetization at The Home Depot. Retail Media+ is The Home Depot’s retail media network.
The tie-ups can help Google Pay grow its volume and keep up with rivals that already offer BNPL
Diversifying merchant partnerships can help the fintechs grow as the BNPL space gets more crowded
RTP can help small businesses better control their cash flow and overcome financial difficulties
72% of adults in North America use their smartphone to research price comparisons while shopping in-store, making it the No. 1 type of research done on mobile devices in-store, per August 2023 1WorldSync data.
Ghost kitchens disappeared as quickly as they came: Quality issues, consumer ambivalence, and shifting dining behaviors contributed to their downfall.
Consumers don’t want to pay for shipping: Retailers that charge for shipping risk driving shoppers to other merchants’ sites and apps.
Retail sales in China grew at their fastest pace since May last month: But many challenges remain, which is why we expect modest growth of 6.0% in 2024.
A generous return policy can encourage consumer spending and inspire loyalty. On the other hand, a policy that makes it more costly or inconvenient for customers to return their items could sting a retailer’s bottom line. Here are some short- and long-term ways return policies can affect retailers, and ways to avoid charging customers a fee to cover return costs.
Gen Z's preference for Pinterest influences retail strategies: The platform's positive, noncompetitive nature aligns with Gen Z's mental health awareness.
Etsy’s sales have remained “essentially flat” for two years: The niche online marketplace’s inability to broaden its reach led it to lay off about 225 employees.
Tensions between Temu and Shein are rising (again): Weeks after the companies dropped their previous lawsuits against each other, Temu sued Shein.