Some students have already started their school year, but the back-to-school shopping season is far from over. In fact, over a third (34%) of families begin their back-to-school shopping in August, according to recent data from ad platform gumgum.
For advertisers, the increasing fragmentation within the search landscape can be quite frustrating and challenging. “But for consumers it feels like ease and convenience," said our analyst Sarah Marzano on a recent episode of "Behind the Numbers." "We're able to conduct product searches wherever we're spending time and go on a journey that's tailored to the mindset we're in."
Over half (56%) of US adults commonly purchase private label grocery/food and beverage products, the most popular category of private label purchased, according to April 2025 data from First Insight.
The news: Block’s gross profit rose to $2.54 billion, an increase of 14% YoY. Cash App’s gross profit grew 16% YoY Square’s gross profit increased 11% YoY Developments like Cash App Afterpay are gradually drawing the distinct Cash App and Square ecosystems into a robust dual-sided network. However, the Cash App’s enduring lack of a credit card makes it harder for Block to sell itself as the one-stop shop for young people’s financial needs.
The news: Empower rebranded the Petal portfolio into Tilt, a trio of cards aimed at credit builders. WebBank will remain the issuer for the cards. Our take: Alternative lenders like Tilt do help individuals start or rebuild their history of creditworthiness. However, Tilt may come into a profitability—or even operational—problem after JPMorgan Chase said it would revoke fintechs’ free access to consumer financial information.
The news: American Express renewed its partnerships with AEG, expanding Amex’s rewards reach over venues, festivals, tours, ticketing, and sports. Our take: Amex’s dedication to building the breadth and depth of its luxury offerings allows it to maintain its premium branding against competitors like the Chase Sapphire Reserve’s offerings like Chase Experiences
As consumers trade traditional search engines for social feeds, brands are approaching these platforms as drivers of brand awareness and conversion. TikTok Shop has rapidly become the eighth-largest beauty retailer in the United States, according to a February report from NielsenIQ. 41% of Gen Z turns to social platforms first for finding information, ahead of search engines (32%), AI chatbots (11%), and friends and family (9%), according to a May Sprout Social survey.
In this podcast episode, we discuss if ‘Summerween’ is here to stay, which retail shopping holiday is most likely to expand, and how all of this affects shopping behavior. Listen to the discussion with Senior Director of Podcasts and guest host, Marcus Johnson, Principal Analyst, Sky Canaves, and Vice President of Content Suzy Davidkhanian.
The news: Marqeta’s total processing volume (TPV) hit $91 billion in Q2, a 29% YoY increase. Our take: Marqeta’s success with buy now, pay later could help it finally wean off its dependence on Block, which still accounts for 46% of its business. With planned expansions into Europe, Marqeta has the opportunity to put more distance between it and its competitors by leaning into solutions for alternate financing and currencies, like BNPL and crypto.
The news: Booking.com launched the Genius Rewards Visa Signature co-brand credit card for Booking.com account holders. Our take: Booking.com’s credit card offering should appeal to millennial and Gen Z consumers who are eager to travel and aren’t tethered to a specific airline’s or hotel franchise’s loyalty program.
The news: American Express and Toast launched a multiyear partnership to offer more personalized hospitality experiences across their combined network of Resy, Tock, and Toast restaurants locations in the US. Our take: In a highly competitive environment for POS providers, extra tie-ups can help Toast stand out in the crowded field.
Ralph Lauren posted higher-than-expected quarterly results and raised its full-year revenue outlook, though it warned that tariffs could pressure consumer spending in the second half. Amid economic uncertainty, Ralph Lauren’s performance highlights the resilience of brands that sit at the intersection of aspiration and accessibility. The company appears better positioned than some of its luxury peers to weather volatility. Its quarterly results offer a blueprint for its retail peers, showing the value of a diversified supply chain and brand equity over aggressive discounting and heavy dependence on a single market.
Almost half (49%) of US Gen Zers are much more likely to pay attention to ads that make them laugh or use music they like, per a June report from Edison Research and SiriusXM Media.
Dupes are being purchased at high rates among affluent consumers, even more than those with lower incomes. 70% of high-income US adults (earning $150,000 or more) have tried a dupe private label product, per April 2025 First Insight data. This outpaces the 53% of mid-income consumers ($51,000 to $149,000) and the 41% of low-income consumers (under $50,000) that bought dupes.
The news: US-based rewards app Fetch opened the waitlist for the Fetch American Express Card. Our take: Fetch is positioned to take off for consumers who want rewards that help ease cost concerns when buying everyday essentials.
The news: Serious delinquency rates held steady YoY, while credit card volume growth continued to slow, per a report from the Federal Reserve Bank of New York. Our take: As middle-class educated professionals are slapped with resumed student loan payments, many will falter in the face of reaccelerating inflation and a weakening job market—especially if faced with possible wage garnishment.
Kroger has consolidated its retail media, consumer insights, and loyalty marketing capabilities under the Kroger Precision Marketing (KPM) brand.
Ulta Beauty is tapping into trends like Korean beauty and wellness to stay relevant with younger consumers while Pop Mart has created viral excitement around its collectibles through smart digital marketing and gamification. In addition, Urban Outfitters has launched a back-to-school dorm makeover contest and Away Luggage is enhancing the travel experience with a giveaway. Here are the eight most interesting retailers and brands from last month, as ranked on our “Behind the Numbers” podcast.