It’s easier than ever to find fashion resale online: The latest example of that is Rent the Runway’s new storefront on Amazon Fashion.
The government will spend $318.4 million to encourage more banks and payment providers to support the domestic solutions.
Retailers struggle under the weight of holiday returns: Global returns grew 63% YoY as economic concerns drove shoppers to rethink purchases.
Gen Z is slightly less concerned than any other generation about buying from brands that reflect their social values, according to December 2022 data from Morning Consult.
US sellers can now add the checkout feature to their websites, which can help it sweep in more volume and stay competitive.
After experiencing a surge in growth in 2021, US retail sales growth began to slow last year, a pattern which will continue into 2023. According to our forecast, sales will rise by less than 3% this year, reaching over $7.3 trillion.
Beware of the ‘retailpocalypse’ narrative: While retailers such as Gap and Macy’s shutter stores, there’s no sign that a broader bust is imminent.
Click-to-door time was as low as 4.4 days in July 2022 for non-Amazon digital retailers in the US, according to NielsenIQ. But Amazon has them beat by a lot, with an average click-to-door speed of 1.9 days.
Airlines and card issuers are raising redemption thresholds on loyalty perks as travel demand roars back.
The expected record-high rates will raise demand for budgeting tools, rewards focused on everyday spending, and BNPL.
IRI woos shopper marketers: Its new platform should give advertisers greater visibility into retailer and SKU-level results.
Consumers pull back on discretionary spending: While that’s an ominous sign for retailers such as Macy’s and lululemon, there are still some glimmers of hope on the horizon.
Consumers spent $211.7 billion online over the 2022 holiday season (from November 1 to December 31), growing 3.5% year over year, per Adobe Analytics.
The firm is reportedly in talks over a sale. We discuss why it could be an attractive acquisition and how likely a buyout is.
Amazon’s 2023 is off to a difficult start: The retailer said it would lay off over 18,000 workers as it prepares to weather global uncertainty.
Instacart will retain its status as grocery delivery king this year, capturing 73.0% of US digital grocery sales among third-party delivery services, per our forecast. However, competitors such as DoorDash and Uber will continue to eat away at its dominance.
Amazon laying off 18,000: That’s significantly more than previously disclosed and could indicate that widespread job cuts are around the corner for tech companies. Job uncertainty could lead to panic and stall innovation.
“We used to talk about ‘omnichannel’ and we should just be talking about ‘commerce.’” That’s according to our analyst Suzy Davidkhanian, speaking on our “Behind the Numbers: Reimagining Retail” podcast.
We all know that 2023 will be the year of retail media, social commerce, and lingering economic uncertainty. But here are some more targeted possibilities for the year ahead.