In January, the Retail Daily newsletter editors made four retail predictions for 2023. Some we got right (like the proliferation of Amazon Prime Day-type events) while some we missed the mark on a bit (it was not the year of AR).
Consumer spending diverged in 2023: Shoppers splurged on lower-priced indulgences such as health and beauty items, but pulled back on big-ticket items such as TVs and couches.
On today's podcast episode, we give out some 2023 retail awards for the most must-visit store, the company that came the closest to crashing and burning—only to course-correct at the last minute, the retailer you need to know, and the comeback story of the year. Join our analyst Sara Lebow as she hosts vice president of content Suzy Davidkhanian and analysts Blake Droesch and Sky Canaves.
On today's podcast episode, we discuss consumer spending over the holidays, how transaction data can help brands build deeper relationships with their customers, and what's next for consumer purchase data. "In Other News," we talk about Google starting to phase out cookies in a few weeks and what to make of the economy's mixed signals. Tune in to the discussion with our vice president of content Suzy Davidkhanian and Jonathan Silver, founder and CEO of Affinity Solutions.
TikTok is taking the lead on social commerce: But Meta, Pinterest, and Snap are trying to take back the spotlight by partnering with Amazon and focusing on shoppable ads.
Consumer spending patterns shifted in 2023: Retailers like Walmart, TJ Maxx, and E.l.f Beauty benefited from consumers growing cost consciousness.
Gen Z embraces messaging, search, and shopping: Social media trend reports shed light on 2024 priorities.
33% of US Gen Z consumers have purchased a product from an influencer-founded brand in the past year, followed by millennials (29%), according to Morning Consult.
The network also forecasts a surge in ecommerce returns, per its 2024 economic outlook
Nascent partnerships from 2023 will start packing a punch in 2024. Companies without an overwhelming market advantage will need to join forces with rivals or complementary partners to keep boosting revenues.
Before retail media, brands would pay retailers to market their products, but weren’t necessarily involved in how they were promoted. “Now, it’s more of a conversation,” said Melanie Babcock, vice president of Retail Media+ and monetization at The Home Depot. Retail Media+ is The Home Depot’s retail media network.
On today’s podcast episode, our analyst Bill Fisher asks forecasting writer Ethan Cramer-Flood and forecasting analysts Oscar Bruce Jr. and Zach Goldner about the most interesting Insider Intelligence international forecasts of the past year, as well as what we can expect for 2024.
72% of adults in North America use their smartphone to research price comparisons while shopping in-store, making it the No. 1 type of research done on mobile devices in-store, per August 2023 1WorldSync data.
A generous return policy can encourage consumer spending and inspire loyalty. On the other hand, a policy that makes it more costly or inconvenient for customers to return their items could sting a retailer’s bottom line. Here are some short- and long-term ways return policies can affect retailers, and ways to avoid charging customers a fee to cover return costs.
Etsy’s sales have remained “essentially flat” for two years: The niche online marketplace’s inability to broaden its reach led it to lay off about 225 employees.
Many retailers are predicting that consumer spending patterns in 2024 could be similar to 2023—pulling back on discretionary categories and sometimes essentials like groceries. So far, discount and dollar stores have benefited from tightened consumer spending, but that success isn’t guaranteed in the new year. Here’s how three low-price retailers are planning to appeal to consumers and keep sales up in the months ahead.
81% of US adult digital shoppers review return policies before making a first-time purchase, and 55% will abandon their cart if return policies aren’t convenient, per a Happy Returns report commissioned by PayPal.
Large retailers are in a prime position for the final holiday push: Amazon, Target, and Walmart are poised to leverage their infrastructures to capture an outsize share of spend and retail media dollars.
On today's podcast episode, in our "Retail Me This, Retail Me That" segment, we discuss how purchase data can inform campaigns, the importance of real-time information, and what retail media networks are missing. Then, for "Pop-Up Rankings," we rank the most exciting retail media tech advances happening right now. Join our analyst Sara Lebow as she hosts analyst Arielle Feger and Damian Garbaccio, chief business and marketing officer at Affinity Solutions.
On today’s podcast episode, we talk about our latest report that looks at new features being offered by the top cash-back credit cards and how much consumers value them. • In our “Headlines” segment, we break down a recent CNBC article about some of the limited-time merchant rewards the major credit cards are offering. • In “Story by Numbers,” we discuss the Insider Intelligence emerging features benchmark that identified 49 novel qualities and carefully reviewed the feature sets of 10 popular no-fee cash-back credit cards. We also talk about free security features that customers value the most. • In “For Argument’s Sake,” our host Rob Rubin has a difficult time staying true to his position (Credit card features are so tempting!) as he debates why consumers feel certain credit card features are valuable and that they would forgo most of them for more rewards. Listen to the podcast with Rob Rubin and our analyst David Morris.