53% of brands often leverage data and media opportunities with retailers that do not carry their products, according to August 2023 data by Merkle.
Just because consumers are concerned with cost doesn’t mean they aren’t spending. Today’s path to purchase is less linear, influenced by deal-seeking, social media, and payment options. Here are five key stats on how consumer buying behavior is shifting.
Secondhand shopping is still in vogue: Gen Zers and millennials are driving the trend as shoppers search for savings.
The RBI tried incentives to boost adoption, but as they faded away, they weren’t enough to change consumer payment behaviors
The retailer’s decision will only impact a small customer segment, but it signals the end of an era in the retail checkout space
It can help customers avoid double-dipping on debt and attract more volume to its card-linked installment offering
Retailers struggle to eradicate forced labor from their supply chains: A host of companies—from Christian Dior to Milwaukee Tool—face criticism for alleged exploitation of workers.
It’s a balancing act for brands that want to champion inclusivity—authentically and meaningfully, without stirring controversy. “It’s really important for advertising to reflect the world in which we live. Displaying it creates a sense of acceptance,” our analyst Paola Flores-Marquez said on the “Behind the Numbers: Reimagining Retail” podcast. But brands can hurt people by getting it wrong, she added.
Some 53% of marketers believe AI will significantly enhance the way shoppers are targeted and served relevant ads, per a survey from Cooler Screens. Both AI and retail media are still developing. As both of these areas mature, AI will make retail media data even more powerful. Here are some ways AI is improving retail media.
Feature innovation is transforming digital wallets into everyday commerce enablers.
Retailers shifted the peak shipping season earlier this year: In an uncertain macroeconomic environment, that could lead some merchants that play the percentages to still miss the mark.
The EU asks Amazon for information on its algorithms, ads: Meanwhile, in the US, the retail giant’s investment in Saks Fifth Avenue’s parent adds fuel to the FTC’s antitrust suit.
Burberry could lay off 400 workers as turnaround falls short: The brand’s efforts to become a top-tier luxury retailer stall amid lackluster collections and price hikes.
Retail marketers should focus on brand marketing to combat consumers’ desire for value. That was the main theme from General Mills, Nike, Levi’s, and more brands’ recent earning calls. Oh, and if you can get Beyonce to name a song after your brand, even better.
This could be a boon for BNPL providers and digital wallets
But the settlement could face a similar fate to Visa and Mastercard’s rejected swipe fee settlement
On today's podcast episode, we discuss why it felt as though fewer brands were showing their support for LGBTQ+ folks, what a brands place in Pride (or holidays) is, and which retailers have hit the nail on the head this year. Join our analyst Sara Lebow as she hosts analysts Daniel Konstantinovic and Paola Flores-Marquez.
Walmart bets on AR: The retailer experiments with several use cases for the technology that it hopes can make shopping online as immersive, interactive, and social as in-person experience.
Small-format stores deliver outsize results: Those locations are helping retailers keep their brands top of mind and reach new customer segments.