Cross-border ecommerce continues to rise in popularity among US consumers, even as growth in the number of buyers slows. In 2023, the US will rank second globally in total cross-border buyers, with 69.8 million, per our forecast. It will trail far behind China’s 280.0 million, but that’s because of relative population sizes.
Gen Zers will drive the growth of emerging payment methods, opening the door for providers to reach them through digital and mobile. But card-based payment methods are still relevant. To tap their rising spending power, providers must align their offerings with how Gen Z prefers to pay.
On today's episode, in our "Retail Me This, Retail Me That" segment, we invent a new sport called the "National Retailers League," where we look at how retailers stack up against each other across different areas. Then, we examine the battle between the top 15 retailers for online dollars and hand out some awards based on fulfillment experience, the best mobile app, and internet innovation. Join our analyst Sara Lebow as she hosts vice president of content Suzy Davidkhanian and analyst Blake Droesch.
Brands can take a page from lululemon athletica’s playbook and hold a dupe swap to show consumers what they’ve been missing or use social media to give a behind-the-scenes look at how a product is made. Other strategies include leaning into secondhand and adding less expensive alternatives.
On today's episode, we discuss what's currently driving retail media, the other retailers outside of Amazon to watch, and what advertisers should be focusing on in this moment. "In Other News," we talk about ads (and influencer content) in Roblox and why Tesla has decided to start advertising for the first time. Tune in to the discussion with our analyst Max Willens.
Amazon is the top dog of US retail, accounting for 37.6% of all US ecommerce sales this year for a total of $431.11 billion dollars, according to our forecast. While the giant has a successful stronghold in many US industries, Amazon isn’t dominant everywhere, especially as it pertains to a physical footprint and getting consumers comfortable with its elite tech. Here are a few areas Amazon hasn’t overtaken—yet.
The travel booking site partnered with Stripe and Klarna to offer BNPL and smoother bank transfers.
After a challenging Q1, PayPal looks to be shifting its strategy to focus on high-growth areas. Business areas like Xoom might not fit.
OpenAI’s GPT-4 can help retailers map the customer journey by analyzing data from across social, owned, and third-party platforms and identifying trends in real time. It can also help retailers predict future behaviors, giving insight into where they should focus their ad dollars.
It’s getting hard to ignore the organized retail theft problem: Home Depot, Walmart, and Target are among the retailers ringing alarm bells about the growing crime issue.
The big tech is diving deeper into payments to tap new revenue streams.
The crypto winter has brought assets crashing down to earth and dampened payments growth. But key crypto payment use cases remain intact, drawing continued investment from major payment providers. This helps set a path for US crypto payment adoption to grow by a 21.3% average annual rate from 2022 to 2025 and worldwide volume to grow by 12.6%.
Retail media provides a significant boost to Instacart’s bottom line: The company’s advertising business reportedly grew 30% last year to $740 million.
Coca-Cola helps usher in an era of generative AI advertising: The brand recently told marketers that it believes AI is much more effective than Web3.
To keep up the momentum, the BNPL provider launched a Pay-in-2 product so it can expand into new payment categories
Retailers can use digital wallets to speed up the checkout process both online and in-store and reward repeat customers. But creating a standalone wallet may not be the best solution for most retailers, and that’s where partnerships with existing providers can help out.
Amazon plots an upgrade to its search capabilities, with help from generative AI: The retailer is planning to incorporate an AI chatbot to help shoppers with queries, recommendations, and product comparisons.
Record-high debt and record-high card interest rates are leading to missed payments
Amazon Prime will make up 53.1% of US paid retail membership fee revenues this year, according to our estimates.
Tapestry brings its D2C and wholesale teams together to create a consistent brand experience across channels, while Hollister enables teens to fill their carts and send to a parent for purchase. Instacart and eBay find ways to offer customers more value.