Asos is working with Criteo to expand its retail media business: The retailer hopes that retail media revenues can help it navigate the challenging economic environment.
Inflation in the UK is easing but remains near a 40-year high. That’s tamping down consumer spending across all categories—with total retail sales set to grow by just 1.7% in 2023, versus a pre-pandemic growth rate of around 4%.
Economic conditions will have a huge effect on the retail, media, and marketing industries in 2023. For companies to succeed, the cost-conscious consumer must be front and center.
British supermarket Morrisons became the latest UK retailer to unveil its own retail media network in September. It follows similar moves by Tesco, Boots, and Sainsbury’s—heralding an acceleration of retail media in the UK. This Analyst Take will explore what’s driving the shift, as well as our predictions for the future of UK retail media networks.
Brands and retailers prioritize sustainability for Earth Day, but actions speak louder than words: Amazon, Apple, and Coca-Cola are some of the brands touting their green initiatives this April amid growing consumer concern over the environment.
UK consumers continue to spend. However, as the realities of Brexit finally hit in 2020, the purse strings will tighten. And with ecommerce becoming an ever-greater portion of total UK retail sales, the effect on the high street will be marked. A hard delineation between the online and offline worlds isn’t necessarily helpful, though, as those lines between “clicks and bricks” continue to blur.
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