On today's episode, we're at Shoptalk 2023 discussing why influencers might be the key to unlocking livestream shopping, what folks on the floor are saying about generative AI in retail, and how one company plans to redefine the fulfillment experience. In our new "From the Shop Floor" segment, we bring you the best bits from the most interesting retail events. Join our analyst Sara Lebow as she hosts vice president of content Suzy Davidkhanian and chief content officer Zia Daniell Wigder, live from this year's Shoptalk event.
It partnered with OpenAI on a ChatGPT plugin to offer users personalized shopping recommendations.
Insurance joins the long list of industries slashing ad budgets: Insurers are among TV’s most recognizable brands, but industry problems have forced them to back down.
ChatGPT’s latest update could turn it into a shopping engine: Instacart, Klarna, and Shopify are experimenting with offering users personalized recommendations.
Between bank collapses and a prolonged crypto winter, 2023 has not been kind to the banking industry. But that doesn’t mean things can’t turn around. Here are five charts on what’s good (consumer trust remains steady), what’s bad (crypto’s downfall continues), and some areas of opportunity (the rise of ChatGPT).
One of the largest wireless and satellite TV providers stands to lose ground in highly competitive markets if it fails to respond to customers.
Retail media will stay ahead of connected TV (CTV) in US ad spending and close in on traditional TV this year, according to our forecast. Search overall, including paid search on retail media networks, will reach $108.48 billion in 2023.
Social platforms are gaining in search: More US consumers are researching products on TikTok, YouTube, and Instagram, which could bode ill for Amazon and Google.
Gen Zers are ready to spend. The majority will be adults in 2023, meaning increased spending power. And they rely heavily on digital when making purchases: Gen Z will surpass Gen X in the number of US digital buyers by 2025, per our forecast.
Spotify’s $100 million fund for diverse projects starts off slow: Concerns about spending arise as the initiative marks its first year.
Consumers continue to spend big on restaurants, gym memberships: Despite inflationary pressures, shoppers are willing to invest in affordable luxuries and wellness.
The Wall Street lender’s pilot shows the space is maturing and could prompt other banks to launch their own biometric products.
The solution lets businesses create physical or virtual cards, which can open a new revenue stream for Checkout.com.
The rise of in-store retail media—through the digitization of surfaces in physical retail—will transform the store experience, the financial fortunes of retailers, and the advertising opportunities for brands.
Victoria’s Secret, Party City, and Lush Cosmetics are the newest retail partners DoorDash has added to its platform as it expands beyond restaurant delivery to offer customers on-demand delivery for alcohol, grocery, and convenience items.
TikTok sister app Douyin is a livestream behemoth in China, where nearly 40% of internet users also engage in livestream shopping, according to our forecast. But in the US, the format hasn’t caught on in the same way.
It’s testing a browser-based crypto wallet despite the industry’s tumultuous year.
This year, we forecast US off-premise alcohol retail sales (i.e., alcohol purchased for at-home consumption) will grow by a modest 3.5% to $178.20 billion. This growth will accelerate slightly through 2027, driven by three areas of opportunity within the industry: ecommerce, customers willing to splurge on premium beverages, and at-home consumption trends.
Working with the country’s leading super app can help Western Union compete more aggressively against digital challengers.
Meta rolls out paid verification subscription in the US: Meta Verified has perks that could appeal to creators, but regular users aren’t likely to pay.