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The only certain thing about TikTok鈥檚 sale is more uncertainty: Washington keeps kicking the can on a US sale, leaving TikTok to convince advertisers not to panic.

The news: TikTok commerce traffic has trended down throughout 2025 amid uncertainty about the app鈥檚 future in the US. Our take: Trump鈥檚 extension gives TikTok more time to reach a deal but does little to ease the internal disruption from ByteDance鈥檚 austerity drive. New tariffs and the elimination of the de minimis exemption could hinder TikTok Shop鈥檚 performance.

The news: China is outpacing the US in retail media鈥檚 global rise, with nearly half of its digital ad spending now flowing through retail platforms. While Amazon still leads globally, its growth is slowing鈥攅xpected to rise just 18.6% in 2025. Meanwhile, players like Uber Eats, Meijer, and Albertsons are growing ad revenues at triple-digit rates. Our take: Retail media is becoming more fragmented and competitive. Success now requires portfolio diversification, especially as new channels鈥攍ike last-mile delivery and in-store signage鈥攇ain momentum. What began as an Amazon-centric, US-led trend is now a worldwide shift reshaping how consumers discover, consider, and buy.

The situation: Nike鈥檚 turnaround will likely take some time. In FYQ4, the company鈥檚 sales fell 12% YoY (11% on a constant-currency basis), reflecting what CFO Matthew Friend called the 鈥渓argest financial impact鈥� from the company鈥檚 reset strategy. Still, he expressed confidence that 鈥渉eadwinds will moderate from here,鈥� emphasizing Nike鈥檚 focus on execution and controlling what it can. Our take: Turning around a company the size of Nike is like trying to turn around an ocean liner in rough waters. Change takes time, especially amid headwinds like tariffs and shaky demand, and execution missteps keep dragging on performance. Nike is adjusting course鈥攍eaning back into wholesale, cleaning up its inventory, and getting more surgical with product drops鈥攂ut calm seas are still a ways off.

China is a global leader in online shopping, with high digital buyer and retail ecommerce penetration. Shoppers are comfortable buying luxury goods online and embracing livestreaming commerce.

The news: China retail sales jumped 6.4% YoY in May, per official data. That outpaced expectations for a 5% increase and marked an acceleration from April鈥檚 5.1% growth. What it means: While the stronger-than-expected retail sales are a promising sign for the country鈥檚 beleaguered economy, conditions on the ground remain highly challenging.

The news: China鈥檚 coffee giants are making their way to the US in the hopes of unlocking a lucrative market to offset pressures back home. Our take: Luckin鈥檚 and Cotti鈥檚 US launches are a problem for Starbucks, which is already struggling to compete with the companies in China and having a hard time winning over customers at home. Unfortunately for Starbucks, many of the moves it鈥檚 making鈥攕treamlining its menu, enhancing the in-store experience, leaning into premiumization鈥攔un counter to consumers鈥� current desire for variety, convenience, and value. That has created an opening for chains like Dutch Bros (and now Luckin and Cotti), which are better positioned to capitalize on emerging trends in the coffee space and can undercut Starbucks on price.

The US-China trade war drives Shein to diversify its sourcing: Shein and Reliance Retail plan to start international sales of India-made Shein-branded clothes within six to 12 months.

The news: Starbucks is lowering prices in China for some drinks as the country鈥檚 relentless price wars force the struggling coffee chain to shift gears. Our take: Starbucks鈥� pricing actions are necessary to keep it competitive in a challenging market. But it is increasingly struggling to keep up with the likes of Luckin Coffee and Cotti, which are not only considerably cheaper but also better able to meet Chinese consumers鈥� rapidly shifting tastes. With conditions in the world鈥檚 second-largest economy unlikely to improve this year, Starbucks will have to find a way to become nimbler鈥攁nd more affordable鈥攖o keep within striking distance of its rivals.

The news: On Thursday, Nintendo released the Switch 2, 鈥嬧�媔ts first new console since the Nintendo Switch was launched in 2017. The handheld device comes with upgraded specs, social gaming features, and bundles with exclusive titles like Mario Kart World and Donkey Kong Bananza. It also includes GameChat, a feature that combines voice and video and lets up to 12 people chat while playing games. Our take: With a growing package of subscription perks and social hooks like GameChat, Nintendo may be taking a page from Apple鈥檚 playbook by turning its hardware into a recurring revenue engine. The Switch 2 could be a sticky ecosystem for Nintendo, even if the price goes up.