Amazon received 236.9 million unique US visitors in June 2024, according to Comscore. It far exceeded Walmart in second with 137.2 million unique visitors.
In August, brands got physical, with Olipop entering a new stadium, Nordstrom inking a deal with Rihanna, and Walmart growing with nonendemic retail media opportunities. Others took a more digital approach, making shopping more seamless on social media sites and AI-powered search. Here are the moves that made our analysts name eight brands to our unofficial most interesting list in August.
Gen Z shoppers embrace Temu, Shein, and TikTok Shop: 1 in 4 makes a purchase at a Chinese online marketplace at least once a week, as their array of cheap, trendy goods proves impossible for the price-sensitive cohort to resist.
A strong digital presence drove Nordstrom Rack's Q2 growth, while Crocs hopes to revitalize its HEYDUDE brand by focusing on a younger, female audience. Holliseter is leveraging back-to-school promotions and targeted marketing initiatives to reintroduce the brand to younger consumers.
Macroeconomic headwinds drive shoppers to hunt for a deal: Off-price retailers like Nordstrom Rack, Burlington, and TJX are thriving amid the current climate.
The BNPL provider expanded its merchant network and pushed in-store. A potential Apple Pay deal could help raise its profile
Walmart enhanced its online marketplace with new capabilities and seller solutions, the retailer announced at its annual Walmart Marketplace Seller Summit this week. Updates include the addition of premium beauty products, expanded fulfillment services, and revamped seller solutions.
In comparison, just over one-third of Facebook social shoppers do the same on Facebook.
Lego builds momentum: The company grew sales 13% in the first half of the year with strength across its portfolio.
On today's podcast episode, we discuss the unofficial list of the most interesting retailers for the month of August. Each month, our analysts Arielle Feger, Becky Schilling, and Sara Lebow (aka The Committee) put together a very unofficial list of the top eight retailers they're watching based on which are making the most interesting moves: Who's launching new initiatives? Which partnerships are moving the needle? Which standout marketing campaigns are being created? In this month's episode, Committee members Arielle Feger and Sara Lebow will defend their list against analysts Blake Droesch and Sarah Marzano, who will dispute the power rankings by attempting to move retailers up, down, on, or off the list.
Both retailers used generative AI to improve employee productivity in Q2—Walmart leveraged the tech to improve its product catalog and Target used it to enhance in-store employee tools. Target’s curbside pickup service helped it grow digital comparable sales 8.7% YoY, while Walmart’s marketplace and sales of GLP-1 drugs contributed to its 4.2% comp sales growth YoY.
Holiday sales forecasts range between 2% and 4.8%: That variation reflects an unusual environment shaped by lingering inflation, potential interest rate cuts, and a volatile election season.
US ad market grows 14% YoY in July: While spending continues, the industry remains cautious amid economic uncertainties and election-year volatility.
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.
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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.
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.
Shein was the No. 1 apparel retail site among US visitors in June, with 46.9 million unique visits, according to Comscore data.
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.