Lego builds momentum: The company grew sales 13% in the first half of the year with strength across its portfolio.
On today's podcast episode, we discuss the unofficial list of the most interesting retailers for the month of August. Each month, our analysts Arielle Feger, Becky Schilling, and Sara Lebow (aka The Committee) put together a very unofficial list of the top eight retailers they're watching based on which are making the most interesting moves: Who's launching new initiatives? Which partnerships are moving the needle? Which standout marketing campaigns are being created? In this month's episode, Committee members Arielle Feger and Sara Lebow will defend their list against analysts Blake Droesch and Sarah Marzano, who will dispute the power rankings by attempting to move retailers up, down, on, or off the list.
Both retailers used generative AI to improve employee productivity in Q2—Walmart leveraged the tech to improve its product catalog and Target used it to enhance in-store employee tools. Target’s curbside pickup service helped it grow digital comparable sales 8.7% YoY, while Walmart’s marketplace and sales of GLP-1 drugs contributed to its 4.2% comp sales growth YoY.
Holiday sales forecasts range between 2% and 4.8%: That variation reflects an unusual environment shaped by lingering inflation, potential interest rate cuts, and a volatile election season.
US ad market grows 14% YoY in July: While spending continues, the industry remains cautious amid economic uncertainties and election-year volatility.
The retail media landscape is dominated by national retailers like Amazon and Walmart, which boast the No. 1 and No. 2 retail media networks in the US by digital ad spend, per our forecast.
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Online sales will also accelerate to close out 2024. Holiday ecommerce sales will rise 9.5% YoY, a pace not seen in the past two years, and total online sales for November and December will reach $266.89 billion.
Ikea’s business model evolves: In addition to experimenting with new store formats in new locations and bolstering its online presence, the furniture giant tests a peer-to-peer secondhand marketplace.
Shein was the No. 1 apparel retail site among US visitors in June, with 46.9 million unique visits, according to Comscore data.
This year, US holiday sales will reach a record $1.353 trillion, per our July 2024 forecast. That holiday season is starting earlier and earlier, which means marketers need to be prepared now for shopping to pick up in September and October. The election and consumer concerns about the economy will complicate where advertisers reach consumers and what messaging they use. Here are five stats marketers should see as they prep their holiday campaigns.
Has holiday creep crept over the line? Brands risk turning off consumers by launching Christmas countdowns in August and offering pumpkin spice lattes before kids head back to school.
The update should help consumers feel safer using the P2P app, which may help boost Apple Cash adoption
Gen Zers are more than twice (42%) as likely than the average (20%) to buy holiday gifts directly through social media in 2024, according to May 2024 research from Basis Technologies and GWI.
The 2024 holiday season is forecasted to top $1.353 trillion, according to ĢAV. To thrive in this high-stakes period, businesses must embrace opportunities like AI-driven personalization, seamless payment options, and the longer gift-buying season.
Walmart partners with Burger King to beef up Walmart+ perks: While the retailer focuses on appealing to its core customer base, Amazon makes a move for holiday and grocery sales.
Coupons play a bigger role in purchasing decisions as consumers become increasingly value-conscious. More than a quarter (26%) of US adults are using more coupons this year because of the state of the economy, according to July 2024 data by Prosper Insights & Analytics and the National Retail Federation. Here are five stats to better understand how and where consumers are seeking savings.
Physical retail is the leading channel for product discovery, while digital channels complement it by influencing decisions after discovery. To convert shoppers, prices must be competitive, but reviews also heavily influence purchases, especially in apparel and shoes.
Target’s comparable sales rose for the first time in five quarters: While the retailer’s value-oriented focus hit the mark in Q2, Target took a “measured approach” with its outlook ahead.