Sometimes two is better than one. Especially when trying to capture consumer attention in a world of seemingly endless options. Here are four retail partnerships we think could occur in 2024, ranked from most likely to happen (e.g., Pinterest and Ikea) to least likely (e.g., Chewy and Blue Apron), and why we think they make sense.
Deal-seeking shoppers spent $222.1 billion online this holiday season: Elevated discounts drove spending across the electronics, apparel, furniture, and toy categories.
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.
This year, furniture and home furnishings will make up a $179.75 billion ecommerce market in the US, according to our forecast, and growth is accelerating. With challenges coming from big names like Amazon and Walmart and resale platforms like Facebook Marketplace and Craigslist, Ikea has no choice but to innovate to keep up.
Last year, Overstock.com streamlined its business and focused solely on home furnishings and furniture. To court a more targeted audience, Overstock leaned on its first-party data to develop more personalized ad campaigns and employed brand ambassadors to showcase the company's ability to provide consumers with high-quality products at a reasonable price. We spoke with Angela Hsu, Overstock’s CMO, ahead of her session at CommerceNext in June.
Britain is looking forward to its first coronation celebration in 70 years—with street parties, socializing, and an extra bank holiday set to give a welcome lift to retail sales.
Higher-income consumers feel the pinch of soaring inflation: US retail sales growth slowed to 2.9% year-over-year in March as spending on big-ticket items slowed.
Smaller retailers are gaining share and reshaping the ecommerce landscape, but will they be able compete with giants like Amazon?
Health and personal care will drive growth but won’t be enough to improve Amazon’s share of the overall US ecommerce market.
US ecommerce growth will come from large retail categories with historically low online sales share. And growth will stay healthy even as traditional drivers of online sales take a backseat to emerging categories.
Historically, apparel and accessories and computer and consumer electronics were the most dominate categories in ecommerce sales. They will remain significant sales drivers, but in the future, ecommerce will be more evenly spread among categories.
Amazon will account for 38.2% of all US ecommerce sales this year, per our estimates. In addition to dominating the books, music, and video category, Amazon will capture 50.3% of computer and consumer electronics ecommerce sales and 47.0% of office equipment and supplies ecommerce sales in the US.
Better-than-expected earnings for Etsy and eBay give retailers a glimmer of hope: But continued losses for Wayfair and Peloton show some categories have a longer, difficult road to recovery.
Home goods retailers feel the ripple effects of the housing recession: As the housing market slows, so does consumer spending on home-related items such as appliances and furniture.
Insider Intelligence spoke with Duncan Blair, SVP of marketing, support and sales at Article, about best strategies to convey to customers the “feel” of products and shoppable video.
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