Shein was the No. 1 apparel retail site among US visitors in June, with 46.9 million unique visits, according to Comscore data.
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.
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.
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.
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.
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.
Targeting consumers is only half the battle for advertisers: Brands need to make sure their own services are quick and easy to use, lest they lose crucial consumers.
This can help the fintech capture more UPI volume while boosting credit use in India
The update should help consumers feel safer using the P2P app, which may help boost Apple Cash adoption
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.
Loblaw leans into value: The Canadian grocer is testing a new discount store format called no name that features a limited selection of items to appeal to cost-conscious consumers.
H&M looks to occupy the middle ground between Shein and Zara: The retailer’s turnaround hinges on its ability to offer fashion-forward designs at a wide range of price points, and improve the in-store experience.
ew leadership aims to address closer App Store scrutiny and developer challenges.
Gen Zers are more than twice (42%) as likely than the average (20%) to buy holiday gifts directly through social media in 2024, according to May 2024 research from Basis Technologies and GWI.
BNPL providers have been flocking to travel to maintain payments momentum as the BNPL industry’s growth slows
Integrating the tech into crypto apps could make it easier to make payments, but winning consumers will still be a challenge