As consumers trade traditional search engines for social feeds, brands are approaching these platforms as drivers of brand awareness and conversion. TikTok Shop has rapidly become the eighth-largest beauty retailer in the United States, according to a February report from NielsenIQ. 41% of Gen Z turns to social platforms first for finding information, ahead of search engines (32%), AI chatbots (11%), and friends and family (9%), according to a May Sprout Social survey.
The RealReal is upbeat about its prospects as tariffs and the uncertain environment boost resale’s appeal. While the company is not yet profitable, it is winning over more shoppers who see the circular economy as an opportunity to snag a good deal on luxury merchandise. Demand for resale is accelerating as consumers look for ways to escape tariffs and find better deals—not to mention shop more sustainably. While shoppers worried about saving money are unlikely to patronize a luxury-focused resale platform, The RealReal is in a good position to win spending from aspirational customers who are interested in luxury but are otherwise unwilling—or unable—to pay retail prices.
In this podcast episode, we discuss if ‘Summerween’ is here to stay, which retail shopping holiday is most likely to expand, and how all of this affects shopping behavior. Listen to the discussion with Senior Director of Podcasts and guest host, Marcus Johnson, Principal Analyst, Sky Canaves, and Vice President of Content Suzy Davidkhanian.
The pivot: Warby Parker launched as a direct-to-consumer (D2C) disruptor with a compelling pitch: It would ship up to five frames to consumers’ homes for free, allowing them five days to try them on. But like many of the most-visited digitally native D2C brands, the eyewear company has evolved beyond its online model to include brick-and-mortar stores. With 300 stores and plans to open 45 more this year, including five Target shop-in-shops, the company is sunsetting its home try-on program in favor of in-person visits or its virtual try-on tool. Our take: Retiring its hallmark try-on program marks a pivotal moment in Warby Parker’s evolution from digital upstart to well-established national brand. While the move risks losing some home try-on loyalists, redirecting those dollars toward targeted brand-building and customer acquisition initiatives will likely yield stronger long-term returns.
The news: Marqeta’s total processing volume (TPV) hit $91 billion in Q2, a 29% YoY increase. Our take: Marqeta’s success with buy now, pay later could help it finally wean off its dependence on Block, which still accounts for 46% of its business. With planned expansions into Europe, Marqeta has the opportunity to put more distance between it and its competitors by leaning into solutions for alternate financing and currencies, like BNPL and crypto.
The news: Booking.com launched the Genius Rewards Visa Signature co-brand credit card for Booking.com account holders. Our take: Booking.com’s credit card offering should appeal to millennial and Gen Z consumers who are eager to travel and aren’t tethered to a specific airline’s or hotel franchise’s loyalty program.
The news: American Express and Toast launched a multiyear partnership to offer more personalized hospitality experiences across their combined network of Resy, Tock, and Toast restaurants locations in the US. Our take: In a highly competitive environment for POS providers, extra tie-ups can help Toast stand out in the crowded field.
High tariffs have become an unavoidable part of doing business in the US following the implementation of President Donald Trump’s sweeping reciprocal duties. Retailers are slowly becoming resigned to the fact that higher tariffs are here to stay—for now. But their ability to minimize business disruption is severely hampered by the fact that new tariffs can be imposed at any time, which could immediately turn any attempts to adjust sourcing into sunk costs. As e.l.f. Beauty CEO Tarang Amin told CNBC, “It’s the uncertainty around the tariffs that make things more difficult.”
The news: Seven & i Holdings is making a bold expansion push to modernize 7-Eleven and better align with evolving consumer expectations. Our take: Convenience stores face an array of challenges, from slowing growth to rising competition across brick-and-mortar and ecommerce. That’s why Seven & i’s push toward larger-format stores, fresh food offerings, and strategic expansion is a bold attempt to reposition 7-Eleven in North America. That won’t be easy. But if the brand can deliver on food quality and reimagine the in-store experience, it has a real shot at winning over a new generation of consumers.
The news: Instacart’s efforts to win over more cost-conscious consumers and its growing suite of enterprise and advertising solutions helped the company handily beat Q2 expectations. Coming on the heels of record quarters for DoorDash and Uber, Instacart’s strong results point to resilient demand for delivery services in an otherwise challenging consumer environment. Instacart’s strong Q2 shows that the company is well-equipped to manage any slowdown in US digital grocery sales—as well as fend off growing competition from Uber and DoorDash. The surge in orders will be particularly reassuring to advertisers, particularly the many CPGs looking to increase marketing spend.
Ralph Lauren posted higher-than-expected quarterly results and raised its full-year revenue outlook, though it warned that tariffs could pressure consumer spending in the second half. Amid economic uncertainty, Ralph Lauren’s performance highlights the resilience of brands that sit at the intersection of aspiration and accessibility. The company appears better positioned than some of its luxury peers to weather volatility. Its quarterly results offer a blueprint for its retail peers, showing the value of a diversified supply chain and brand equity over aggressive discounting and heavy dependence on a single market.
Almost half (49%) of US Gen Zers are much more likely to pay attention to ads that make them laugh or use music they like, per a June report from Edison Research and SiriusXM Media.
Dupes are being purchased at high rates among affluent consumers, even more than those with lower incomes. 70% of high-income US adults (earning $150,000 or more) have tried a dupe private label product, per April 2025 First Insight data. This outpaces the 53% of mid-income consumers ($51,000 to $149,000) and the 41% of low-income consumers (under $50,000) that bought dupes.
The news: McDonald’s delivered strong Q2 results that topped analysts’ expectations, signaling a rebound in its core US market. Our take: McDonald’s regained its footing in Q2 after posting its steepest same-store sales drop since the pandemic. While rivals like Yum Brands and Chipotle struggled with consumer pullback, McDonald’s played to its strengths by leaning into value, nostalgia, and limited-time promotions.
Demand for food delivery strengthened in Q2, DoorDash and Uber said, as more customers become used to ordering restaurant meals and groceries online. Order frequency on Uber’s delivery platform reached all-time highs during the quarter, CEO Dara Khosrowshahi said in prepared remarks, while volumes and profitability for the unit also hit record levels. Delivery bookings jumped 20% YoY, while revenues surged 25%. DoorDash also broke records, with total orders (up 20% YoY), marketplace GOV (up 23%), and revenues (up 25%) all surpassing previous quarterly highs. Food delivery is one area that is so far immune to uncertainty—a sign that consumers are increasingly wedded to services that offer convenience, and are willing to pay a premium (or at least a membership fee) to get food and other goods delivered quickly to their doors.
The results: The US toy industry returned to growth in the first half of 2025 after a flat 2024 and a sales decline in 2023, per a new report from Circana. Dollar sales rose 6% YoY, and unit sales increased 3%. The average selling price also climbed 3%, its first meaningful increase after three years of stagnation. Our take: The toy industry is at a crossroads. While Hasbro and Mattel have both raised their full-year outlooks, short-term risks—from tariffs to economic anxiety—are building. If those pressures persist, the category’s recovery could quickly stall. To stay resilient, brands should double down on the strongest demand drivers: licensed IP and the fast-growing “kidult” segment.
The result: Mercado Libre’s ad business is gaining speed—and shows no signs of slowing. Retail media revenues jumped 59% YoY on a currency-neutral basis in Q2. Our take: Mercado Libre’s retail media engine is firing on all cylinders, providing high-margin fuel to support key growth levers like free shipping and brand marketing. But while advertising can help offset those costs, it can’t carry the full weight—especially as broader profitability shows signs of strain. “Mercado Libre’s first-mover advantage laid the foundation for its retail media dominance in Latin America, but its real edge lies in continued ad innovation,” said EMARKETER principal analyst Matteo Ceurvels, pointing to new offsite offerings like the Display Extended Network and a deeper push into CTV.
China is taking more decisive steps to encourage domestic consumption and rein in price wars that are fueling deflation and straining trade relations. Beijing said it would allocate an additional RMB 69 billion ($9.6 billion) to its consumer goods trade-in program starting in October, bringing the total funds issued this year to RMB 300 billion ($41.87 billion). At the same time, the government plans to “address disorderly competition among enterprises” and more closely scrutinize overcapacity in key industries, according to a Politburo statement. Addressing both issues—domestic consumption and damaging price wars—are key to China’s ability to weather higher tariffs and expand its influence on a global stage. But that’s easier said than done.
The news: US-based rewards app Fetch opened the waitlist for the Fetch American Express Card. Our take: Fetch is positioned to take off for consumers who want rewards that help ease cost concerns when buying everyday essentials.