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Our take: While Gucci鈥檚 reinvention is underway, it鈥檚 unfolding in a climate where even luxury鈥檚 most reliable shoppers are starting to pull back. That puts both Gucci and Kering in a tight spot, with little margin for error.

Having AI always on would allow it to remember what a user saw throughout the day, per The Information, and could help find lost objects or remember what鈥檚 in the fridge when grocery shopping. Zooming out: Meta isn鈥檛 alone in rolling back data privacy policies. In March, Amazon changed its policy for Alexa requests on Echo devices.

Strength in Europe and emerging markets like Brazil helped L鈥橭r茅al outperform the broader beauty sector. The headwinds: The US 鈥渨as more challenging than anticipated,鈥� CEO Nicolas Hieronimus said on the company鈥檚 Q1 earnings call, citing a confluence of factors.

Shoppers will be stuck with at least some of those costs: UBS expects European luxury goods to cost 6% more, on average, as a result of the tariffs. The toxic combination of rising prices, plummeting consumer confidence, and stock market sell-offs will make luxury consumption less appealing even to wealthier consumers, who may choose to stow their cash cannon as their net worths drop.

A young and ecommerce-savvy user base in the UK is helping propel TikTok鈥檚 aims. More than two-thirds of the platform鈥檚 user base in the UK is under the age of 35. Given a broader population that is comfortable with digital shopping鈥攐nly China has a greater proportion of total retail sales online鈥攊t鈥檚 clear why the country is a rich testing ground for TikTok.

Gen Z will let bots do their shopping. AI shopping agents will gain traction among younger demographics through initial deployment in ecommerce platforms, digital assistants, and browser extensions. AI agents will exacerbate genAI鈥檚 risks.

The pandemic gave advertisers in Germany a taste for digital. Digital advertising will see record levels of growth for the next three years鈥攚ith retail media as the main driver鈥攆ar ahead of spending on traditional media.

Our take: German companies are already struggling with increased competition from Chinese businesses, who have benefited from government subsidies that enable them to sell their goods for much lower prices than their European competitors. US tariffs will compound that problem by curbing German businesses鈥� access to an important growth market.