British shop prices fell YoY for the first time since October 2021: Retailers slashed prices to move summer clothes and household goods.
Holiday sales forecasts range between 2% and 4.8%: That variation reflects an unusual environment shaped by lingering inflation, potential interest rate cuts, and a volatile election season.
The fraud prevention company could bolster Visa’s push into value-added services
Improvements in profitability sets up the company for a strong public offering, which is expected next year
Lowe’s is the latest retailer to walk back DEI pledges: While companies fear the specter of a Bud Light-level consumer boycott, they risk alienating the majority of consumers who expect brands to stand up for social issues.
US ad market grows 14% YoY in July: While spending continues, the industry remains cautious amid economic uncertainties and election-year volatility.
The retail media landscape is dominated by national retailers like Amazon and Walmart, which boast the No. 1 and No. 2 retail media networks in the US by digital ad spend, per our forecast.
Ikea’s business model evolves: In addition to experimenting with new store formats in new locations and bolstering its online presence, the furniture giant tests a peer-to-peer secondhand marketplace.
Digital advertising outperforms in 2024: Google, Meta, and Walmart drive strong midyear gains while smaller platforms face challenges.
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PDD warns of “intensified competition and external challenges” ahead: The parent company of Temu saw its revenue growth slow as shoppers in China pulled back spending on physical goods.
Online sales will also accelerate to close out 2024. Holiday ecommerce sales will rise 9.5% YoY, a pace not seen in the past two years, and total online sales for November and December will reach $266.89 billion.
Walmart Mexico aims to double sales by 2033: The retailer will rely on ecommerce to drive the growth, but first it needs to upgrade its operations and connect the physical and digital experiences.
Unilever’s portfolio trimming continues with potential sale of two prestige beauty labels: The CPG company is reportedly in talks to offload Kate Somerville and REN as it focuses on its most profitable power brands.
Shein was the No. 1 apparel retail site among US visitors in June, with 46.9 million unique visits, according to Comscore data.
This year, US holiday sales will reach a record $1.353 trillion, per our July 2024 forecast. That holiday season is starting earlier and earlier, which means marketers need to be prepared now for shopping to pick up in September and October. The election and consumer concerns about the economy will complicate where advertisers reach consumers and what messaging they use. Here are five stats marketers should see as they prep their holiday campaigns.
Has holiday creep crept over the line? Brands risk turning off consumers by launching Christmas countdowns in August and offering pumpkin spice lattes before kids head back to school.
Kroger, Tapestry, and Capri push back strongly against FTC’s antitrust charges: But recent rulings against Google and Amazon underscore the uphill battle retailers face.
This can help the fintech capture more UPI volume while boosting credit use in India