On today's episode, we discuss what to make of Amazon's 2% decline in online store sales, how to interpret its advertising service's 19% revenue growth, and why the company is rethinking its Amazon Fresh strategy. "In Other News," we talk about how Pinterest views the future of shoppable video and how malls are resurging. Tune in to the discussion with our analyst Andrew Lipsman.
The new tool, Shopify Magic, uses AI to help merchants generate product descriptions. So far, Amazon has stayed quiet on generative AI, giving Shopify the chance to gain a competitive edge. But it may not last for long if Amazon decides to get in on the AI craze.
After touting a recession-proof business model, the BNPL firm slashed 19% of its workforce and will restructure to the tune of $39M.
“If you’re going to grow a brand, it’s not going to come to loyalty alone. You will have to reach more customers. You will have to have more customers buying more often.” That’s according to Jared Schrieber, co-founder and former CEO of InfoScout (now Numerator), speaking on the “Behind the Numbers: Reimagining Retail” podcast about his new book, “Breakout Brands: Why Some Brands Take Off...and Others Don't.”
Among the major global platforms, Facebook and Instagram will remain firmly at the top in both total revenues and user base, and TikTok will once again be the fastest-growing platform in both areas
Amazon was the most downloaded mobile shopping app in the US in 2022 as its reach continued to grow. Closing in on Amazon was Shein at No. 2, followed by Walmart, Fetch, and Shopify’s Shop app.
Several indicators suggest consumer spending remains strong: Consumer sentiment hit a 13-month high in February and retail sales appeared to pick up in January.
Instacart has had a busy few months. Besides scrapping its plans to go public, the company has cut its valuation a few times, trimmed its workforce, and explored other cost-cutting measures. That being said, Instacart has also made investments to bolster its business, including new technologies for merchants and expanded retail media offerings.
The region’s revenues and transaction volume increased 13% YoY and 8% YoY, respectively, despite the firm’s total 6% YoY revenue decline.
Musk says Twitter will share ad revenue with creators: There’s a catch—they have to subscribe to Twitter Blue first.
Advertisers and marketers can’t afford to waste budget, so we foresee a partial shift away from display ads and renewed emphasis on search—with one big exception, retail media.
Partnering with StepChange will help support struggling customers, but it raises questions around the harm BNPL can cause.
Pinterest’s shopping strategy addresses many social commerce pain points: But sluggish user growth may hinder its ability to increase its share of the market.
More than two-thirds of US consumer credit card revenues came from consumers themselves in 2022, per our estimates. Interest made up the biggest chunk at about 56% of total revenues.
2023 has been a rocky year for retail, with layoffs, inflation, and a potential recession dominating headlines. Despite all that, footwear sales are doing quite well. “People wear shoes. That’s as simple as that,” said Romy Samuel, founder of digital sneaker marketplace Common Ace.
Despite delays, Apple can benefit from its extensive user base and merchant acceptance to build BNPL success.
Sightline Payments will work with Visa to power its Play+ cards, which can help digitize the cash-heavy casino and gaming sector.
Retail layoffs garner headlines but they’re not the full picture: The number of people working in retail continues to grow—we break it down.
Over the past year, retail has pushed further into healthcare for two reasons: more customers and more money. The usual suspects (e.g., CVS, Walgreens, and Rite Aid) are all making investments in their healthcare offerings, but Amazon is on their heels.
Ingenico and Splitit are focused on cutting customer friction to grow their in-store BNPL presence.