UK food price inflation is hitting record highs—but grocery sales are flat. Faced with rising bills, consumers are changing shopping habits to keep spending in check.
Inflation hasn’t made a dent in travel demand: Airbnb, Marriott, and United all reported strong Q4 earnings despite higher prices for airfare and lodging.
Inflation is changing anxious consumers’ financial goals. Banks can play a big role in helping them feel supported.
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%.
Advertisers and marketers can’t afford to waste budget, so we foresee a partial shift away from display ads and renewed emphasis on search—with one big exception, retail media.
Amazon seems poised to beat its lowered expectations: While the retail giant predicted its slowest-ever holiday season growth, analysts expect the retail giant’s Q4 sales still rose 6% YoY.
Grocers are less willing to put up with price hikes as inflation eases: Whole Foods is the latest retailer to ask suppliers to lower prices to relieve pressure on consumers.
The card network’s gross payment volume increased 8% YoY during Q4, but it anticipates a slowdown in revenue growth this quarter.
We expect retail sales growth to slow to 2.9% this year: That pullback in spending is leading retailers to cut staff to protect their bottom lines.
Search ads and retail media to aid Western Europe advertisers: Economic uncertainty to bolster use of ad channels that can deliver solid returns in 2023.
Consumers expect to spend nearly 10% more on Valentine’s Day this year: And nearly one-third plan to give the gift of an experience, the highest share ever.
As consumers balance the cost of necessities with the desire to splurge, secondhand luxury is a sweet spot, giving shoppers a way to treat themselves without breaking the bank. The category, which was valued at €43 billion ($45.21 billion) in 2022, will continue to grow, driven by cost-conscious and sustainability-minded consumers.
See our latest industry KPIs for retail media.
Procter & Gamble is determined to push through price hikes: Despite falling sales volumes and softening demand, the CPG giant plans to continue raising prices to cover its costs.
Macy’s, Neiman Marcus, Hudson’s Bay rethink their strategies as department store sales fall: Tactics include using data science to predict trends and improve pricing strategy, doubling down on luxury, and maximizing store appeal with experiential concepts.
Consumers pulled back on spending in December: Even as inflation eases, consumers’ diminished spending power is forcing them to make choices about what they buy.
Latin America’s digital economy is proving resilient despite macroeconomic headwinds. In 2023, marketers and advertisers will focus on reaching consumers across retail media, livestreaming ecommerce, and ad-supported video streaming.
A Groundhog’s Day scenario will repeat Q3. Profits have plummeted, investment banking has dried up, and banks continue prepping for loan losses.
After experiencing a surge in growth in 2021, US retail sales growth began to slow last year, a pattern which will continue into 2023. According to our forecast, sales will rise by less than 3% this year, reaching over $7.3 trillion.
Tech’s economic pain isn’t letting up: Economic recovery eludes the tech industry as the Fed targets the overall strong job market’s role in driving inflation. Expect more corporate downsizing.
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