Egg prices are up, and so are consumers’ concerns about affording groceries amid rising cases of avian flu, inflation, and President Donald Trump’s tariffs. Here’s how grocery shopping may change in the year ahead and what retailers need to know.
The explosive rise of dupe videos—where shoppers hunt for budget versions of luxury items—is reshaping how retailers compete for customers. With rising financial pressures, shoppers are increasingly turning to store brands and lower-priced alternatives that mimic higher-end products. This shift is not just a matter of necessity but has also evolved into a culture where consumers proudly share their budget-friendly finds.
This will solidify Walmart’s role as a major payments player and can be a large revenue generator for the retailer
84% of US adults believe private label foods are more affordable, according to an August 2024 survey from Ipsos. Nearly as many say private label quality is just as good as, or better than, name brands.
Sweater weather has arrived, meaning pumpkin spice-flavored everything will flood retail shelves. But consumers’ price consciousness could make it difficult for retailers to encourage spending on discretionary purchases. That’s why Amazon, Target, and Albertsons are expanding their private label brands, leaning on fun, seasonal flavors and small indulgences to get consumers to splurge beyond their normal groceries.
Urban Outfitters and Pacsun are tapping into Pinterest and in-person experiences to get students and families shopping, while Meijer, Walmart, and Target are focused on value. Those are just a few brands that made our Unofficial Most Interesting Retailers List, Back-to-School Edition, for July 2024.
Ecommerce has become a dominant sales channel in the pet industry, fueled by convenience and a broad range of online offerings. By 2028, nearly half of pet products sales will come from ecommerce.
While intermediaries’ share of ecommerce sales (grocery or otherwise) will remain relatively flat for the next couple of years, they’re still a long-term threat to traditional retail. But there’s an opportunity for retailers to use intermediaries’ strategies against them.
Private label sales are growing as consumers seek cheaper alternatives to national brands, but price isn’t the only reason.
Brands’ customer experience is declining: Consumers are frustrated over shrinkflation and AI customer service, forcing retailers to do more to demonstrate their value to cautious shoppers.
Consumers' definition of value is evolving as they demand not just the lowest prices, but quality and convenience too. Gen Z beauty shoppers prioritize innovation and sustainability over price, grocery shoppers seek high-quality products at lower prices, and high fees deter online purchases. Loyalty programs should be tailored to offer consumers the kind of rewards they want most, but not at the expense of brand identity. Here are five key stats to help brands understand what consumers value and stay competitive.
The personal consumption expenditures price index (PCE) rose again in March, increasing 2.7% YoY (including food and energy), according to the US Commerce Department. Because rising prices mean consumers are likely to remain cautious with how they’re spending their money, retailers like Michaels and Giant Food are cutting prices across their stores to help maintain or grow sales.
US sales of store brand beauty products grew 10.5% in 2023, according to February 2024 data from the Private Label Manufacturers Association and Circana.
Walmart makes a huge acquisition in hopes of taking on Amazon’s retail media dominance, while Amazon keeps churning out generative AI innovations. Plus, Target tries to steal share from Walmart’s prowess on attracting deal-seeking shoppers. Find out who else earned a spot in our Unofficial” Most Interesting Retailers List, a monthly ranking revealed on an episode of the “Behind the Numbers: Reimagining Retail” podcast.
Our latest analysis of 12 companies in Latin America unpacks key trends in the region’s retail ecommerce during H1 2023. This will provide retail and marketing professionals with insights into the current landscape, company developments, and what trends to look out for in 2024.
The new year is just around the corner, and it’s a great time for retailers to take stock of what worked and what didn’t in 2023 and stay informed on what consumers will expect in 2024.
“[This year] has been a once-in-a-career opportunity to hit the reset button on promotions and not just lift and shift what you did in the past,” said Erica Harrison, vice president of analytics at NielsenIQ during a recent LinkedIn live Q&A. As brands rethink their pricing and promotion strategies, they must keep track of their competition, secure retailer support, and get the timing right. However, it’s also important not to train consumers to be over-reliant on promotions. Here are five tips for brands as we head into the holiday season.
TikTok’s rapid ascent in social commerce is drawing comparisons to Amazon’s flywheel strategy. The platform is taking multiple steps to achieve its goal of quadrupling its global ecommerce business to a potential $20 billion in annual merchandise sales through TikTok Shop. Here’s what’s working, what isn’t, and what has yet to be seen.
Albertsons hit its marks in Q1: The company is leaning into private labels, growing its loyalty program, and boosting its digital sales.
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