Deal-seeking shoppers spent $222.1 billion online this holiday season: Elevated discounts drove spending across the electronics, apparel, furniture, and toy categories.

Providing a glimpse into the strategies behind a year marked by economic uncertainty, ecommerce disruptors, and rising competition for consumer loyalty, our “Behind the Numbers: Reimagining Retail” podcast’s unofficial retail awards offer lessons for brands to make more informed decisions in 2024. Our analysts discuss the winners that caught their attention—for better or worse.

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.

Consumer spending patterns shifted in 2023: Retailers like Walmart, TJ Maxx, and E.l.f Beauty benefited from consumers growing cost consciousness.

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.

Shein is moving ahead with its public debut, taking on some competitors (like Amazon and Temu) while teaming up with others (like Forever 21). Though a brick-and-mortar footprint doesn’t seem to be a part of Shein’s plan yet, it could take a cue from other fast-fashion brands, like H&M and Zara, and establish a physical presence to engage with offline shoppers.

While in-store is the No. 1 way Gen Z discovers clothing, 39.0% of US Gen Z clothing buyers have used social media to discover new apparel brands or products over the last six months, according to our September 2023 survey.

Recently, both Walmart and Target have warned that consumers’ cautious spending habits may lead to a sluggish holiday season this year. Were they right to be worried? Here’s how the holiday shopping season is going so far.

HomeGoods shut down its ecommerce business because in October it was unable to recreate the in-store treasure-hunting experience customers know and love online. Meanwhile, Amazon is struggling to master brick-and-mortar because it doesn’t know what in-store shoppers want.

Targeted, relevant advertising that motivates shoppers to buy is the goal of any retail marketer. But with retail media advertising sitting so close to the point of purchase, the potential upside is even greater.

As the dust settles on luxury’s big post-pandemic rebound, high-end brands will have to become savvier and more flexible to meet evolving consumer demands.

As brands seek to diversify the number of places they sell their goods, retailers should consider building out a marketplace model that can help brands reach more customers while also cutting down on retailer costs and creating new revenue streams. You don’t need to be Amazon to launch a third-party marketplace—Macy’s, Michaels, and H&M have all gotten marketplaces off the ground in the last year or so.

Retail media ads are an important way to boost marketplace spend, but how brands go about advertising requires strategy. When setting up your retail media approach this holiday season, consider which products sell when, what kinds of ads drive conversions, and the importance of discovery in retail media.

“Barbie” is the top-searched term on Amazon. Shopify has seen a 56% increase in doll sales. And despite a fall in Q2 Barbie doll sales, Mattel believes there will be significant growth for the property in the coming months and years. All of this has Greta Gerwig’s movie to thank.

The ecommerce boom in Canada means many product categories now sell a significant percentage online. This includes grocery, which we forecast for the first time this year.

Shein claims it turned a profit in the first half: With rumors of a US IPO swirling, the company says its sales volume growth accelerated and profits improved this year. (This article was written with the assistance of ChatGPT.)