Two-thirds (66%) of US adults have used a credit card within the last 12 months, the most popular method of credit usage, according to an April 2024 survey from NerdWallet conducted by The Harris Poll.
Retail media is the fastest-growing ad channel we track in the US, driven by new innovations, inventory growth, and new players launching media networks. Here’s a look at some of the biggest retail media moves from the first six months of 2024.
CPGs respond to growing divide between lower-income and wealthy spenders: While General Mills and others boost promotions, P&G doubles down on premiumization.
Automakers face speed bumps ahead: While US auto sales grew 2.8% in the first half of the year, sales are expected to slow to 1.3% as consumers wait for interest rates to fall.
TikTok Shop joins Amazon in holding a July sale: The marketplace hopes exclusive discounts on brands like L’Oréal and live-shopping events will boost GMV.
Home improvement customers shop differently than other categories: That’s why Home Depot sees a big opportunity to tailor its retail media network to those quirks.
Amazon Prime Day conditioned shoppers to expect bargains in July: That’s driven Google, Target, Walmart, and others to seize on the opportunity to drive consumers to spend.
“In the digital era, each step along the path to purchase has become significantly more complex,” our analyst Blake Droesch said on a recent EMARKETER webinar. “The store remains a vital centerpiece, but the number of digital channels that consumers are using to discover and evaluate brands continues to grow at a rapid pace.” Brands and retailers need to stay on top of evolving purchasing behavior to meet their customers where they are. Here are three trends and opportunities that can help.
Tesco inks retail media partnership with GroupM: The deal includes access to the retailer’s in-store ad capabilities as well as insights into its 22 million loyalty members.
L’Oréal blames weak China sales for slower global growth: While the company sees sluggish premium demand, mass market players are winning over price-conscious consumers.
More Gen Zers said card-linked plans are better for shopping than fintech offerings.
Its emergency digital card will be a valuable feature as digital wallet acceptance grows. But the network is still years behind Mastercard.
Proximity mobile payment transaction value will increase by 21.4% this year and by double digits through the end of our forecast in 2028.
Eroding pharmacy margins drive Walgreens to make major changes: The retailer plans to close a “significant” number of stores amid a challenging environment for pharmacies.
The new feature addresses user demand and offers them more content-sharing options, increasing Steam Deck’s competitive edge over Nintendo’s Switch.
Saks Fifth Avenue’s The Fifth Avenue Club is in expansion mode: The personal shopping service will have 20 standalone locations by year-end as the retailer leans into high-touch experiences.
Albertsons, Costco, and Instacart are enhancing their retail media offerings. TikTok Shop reached a $1 million livestream. And three-time consecutive first place winner Walmart is developing immersive ways to shop and catering product lines to younger shoppers. Here’s our Unofficial Most Interesting Retailers List for June 2024.
Consumers spend cautiously as inflation perceptions, higher debt payments hurt confidence: But we expect retail sales growth to be healthy as buying power recovers.
Nike just closed one of its worst years in two decades: That’s the result of missteps including losing ground in the critical running category and leaning too far into D2C.
The network’s BNPL plan just went live on Amazon’s Canadian site. If it goes well, Affirm might not have a future with the retail giant.