As Amazon raked in more than $11 billion in Prime Day sales worldwide, health and beauty product sales boomed on the platform. In a survey conducted by Numerator throughout the event, 28.0% of US Prime Day buyers said they made a purchase in that category. Consumer electronics also made a spark: 27.5% of respondents reported buying tech gear and gadgets.
Following a diminished need to refresh their wardrobe, consumers are excited to celebrate the holiday season in style. Watch Industry Voices: Holiday Preparedness with Banana Republic’s Jen Mullen, vice president and head of stores, to hear how the fashion retailer is applying learnings from last year to ensure a seamless holiday shopping experience.
The QuickBooks Card Reader lets merchants accept contactless payments and chip cards—helping Intuit move further beyond accounting software and into in-store payments.
China’s wallets have gone mobile
There’s a lot of attention paid to direct-to-consumer (D2C) brands right now, and for good reason: in addition to the pandemic-fueled 45.5% growth from 2019 to 2020, US digital D2C sales are expected to grow another 15.9% in 2021, reaching $175 billion by 2023, according to our estimates.
On today's episode, we discuss which “digital habits” are just myths, whether travel has reached pre-pandemic levels, whether conversational commerce can take online shopping by storm, social audio getting some new big partners, which platforms creators want to create for, what it would look like if companies were mini countries, and more. Tune in to the discussion with eMarketer principal analyst Paul Verna, forecasting analyst Peter Vahle, and analyst at Insider Intelligence Blake Droesch.
We expect US social commerce sales to rise by 35.8% in 2021 to $36.62 billion. That’s only a slight deceleration in growth from 2020, when sales surged by 38.9% thanks to the pandemic-driven boom in ecommerce, increased social media consumption, and brands continuing to leverage these platforms to sell directly to consumers.
At Facebook, the social network is now a shopping network
Apple Pay’s large acceptance network and user base could make it a formidable player in the buy now, pay later space—posing a major threat to incumbent BNPL providers and credit cards.
Sustainability is increasingly top of mind for consumers in China. Many are making lifestyle changes to address the issue, spurred by the country’s many environmental catastrophes, as well as the government’s recent pledge to reduce emissions. And more than ever, shoppers expect brands to offer products and services with eco-friendliness in mind—and for the right price.
US ecommerce sales are projected to continue double digit growth.
China could be ready to launch the digital yuan in early 2022, and India is building a CBDC framework while also warming up to Bitcoin.
Are crypto users ahead of the payments curve?
As brick-and-mortar stores remained shuttered, ecommerce quickly became the channel of choice for many consumers in Latin America. In turn, retailers quickly shifted their attention toward online sales channels to keep pace with consumers’ growing appetite for online shopping.
Many of the national and regional rankings for retail ecommerce sales and growth have changed little since 2020.
HERO lets online customers connect with in-store retail associates to ask product questions and seek other support—which could help Klarna strengthen its merchant relationships.
Creator economy crescendo: Amazon is quickly building out areas of its business that center on influencers, as the walls between social media and ecommerce erode and creators' roles in those spaces start to blend together.
Credit card appetite is growing in tandem with retail sales—what are issuers doing to make the most of this comeback?