Alibaba’s retail ecommerce sales in China were nearly twice that of Amazon’s worldwide in 2022, at $1.229 trillion compared with about $657 billion, per our estimates. Latin American competitor Mercado Libre had significantly less ecommerce sales, at nearly $35 billion.
Spending was consistent with prior quarters in 2022. But consumers may struggle to pay down card debt if economic headwinds pick up in 2023.
As brand loyalty declines, deals remain a surefire way to win over consumers. Shoppers get discounts and retailers get invaluable first-party data. It’s a win-win. Here are five charts on how to up your loyalty game.
Nipendo specializes in B2B payments automation, which can help Amex attract new business and compete more aggressively.
Walmart has an unprecedented opportunity to gain ground on Amazon: The big-box retailer is taking advantage of the latter’s state of disarray to reassert its dominance and take the lead on innovation.
“The mixed headlines are so hard for consumers to make decisions against.” That’s according to our analyst Suzy Davidkhanian, speaking on our “Behind the Numbers: Reimagining Retail” podcast.
It’s easier than ever to find fashion resale online: The latest example of that is Rent the Runway’s new storefront on Amazon Fashion.
The government will spend $318.4 million to encourage more banks and payment providers to support the domestic solutions.
Retailers struggle under the weight of holiday returns: Global returns grew 63% YoY as economic concerns drove shoppers to rethink purchases.
Gen Z is slightly less concerned than any other generation about buying from brands that reflect their social values, according to December 2022 data from Morning Consult.
US sellers can now add the checkout feature to their websites, which can help it sweep in more volume and stay competitive.
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.
Beware of the ‘retailpocalypse’ narrative: While retailers such as Gap and Macy’s shutter stores, there’s no sign that a broader bust is imminent.
Click-to-door time was as low as 4.4 days in July 2022 for non-Amazon digital retailers in the US, according to NielsenIQ. But Amazon has them beat by a lot, with an average click-to-door speed of 1.9 days.
Airlines and card issuers are raising redemption thresholds on loyalty perks as travel demand roars back.
The expected record-high rates will raise demand for budgeting tools, rewards focused on everyday spending, and BNPL.
IRI woos shopper marketers: Its new platform should give advertisers greater visibility into retailer and SKU-level results.
Consumers pull back on discretionary spending: While that’s an ominous sign for retailers such as Macy’s and lululemon, there are still some glimmers of hope on the horizon.
Consumers spent $211.7 billion online over the 2022 holiday season (from November 1 to December 31), growing 3.5% year over year, per Adobe Analytics.