In January, the Retail Daily newsletter editors made four retail predictions for 2023. Some we got right (like the proliferation of Amazon Prime Day-type events) while some we missed the mark on a bit (it was not the year of AR).
On today's podcast episode, we discuss consumer spending over the holidays, how transaction data can help brands build deeper relationships with their customers, and what's next for consumer purchase data. "In Other News," we talk about Google starting to phase out cookies in a few weeks and what to make of the economy's mixed signals. Tune in to the discussion with our vice president of content Suzy Davidkhanian and Jonathan Silver, founder and CEO of Affinity Solutions.
Gen Z embraces messaging, search, and shopping: Social media trend reports shed light on 2024 priorities.
Consumer spending patterns shifted in 2023: Retailers like Walmart, TJ Maxx, and E.l.f Beauty benefited from consumers growing cost consciousness.
TikTok is taking the lead on social commerce: But Meta, Pinterest, and Snap are trying to take back the spotlight by partnering with Amazon and focusing on shoppable ads.
A look back at Shein’s bumpy 2023: The retailer vaulted its way to the top of the fast-fashion industry, but has its share of challenges as it nears a long-awaited IPO.
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.