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By contrast, some specialty retailers, particularly in segments like luxury goods, don鈥檛 typically carry advertising on their sites or apps, so their retail media opportunity lies mainly in partnering with luxury department stores. What鈥檚 driving retail media growth? Ecommerce and digital ad spending track closely with retail media growth.

Some 15% of US consumers have made cross-border purchases of luxury goods, per ESW鈥檚 June 2022 survey. High shipping costs and slow delivery are the leading obstacles. Forty-four percent of US respondents would likely abandon a purchase if the shipping was too expensive, while 41% would abandon it due to 鈥渓engthy or costly delivery time,鈥� per Global-e.

Social, resale, and beauty: 3 things buoying a slowing luxury retail market. 5 charts on Gen Z鈥檚 shopping habits across beauty, apparel, and more. Amazon is a channel beauty brands can鈥檛 ignore. Methodology: Data is from the May 2024 Ipsos report titled "What the Future: Shopping." 1,120 US adults ages 18+ were surveyed online during March 19-20, 2024.

Building trust with luxury consumers is essential in premium categories with high rates of counterfeiting. In addition to physical authentication centers and human expertise, resale platforms are incorporating AI for granularity and accuracy in authentication. Inventory processing and merchandising.

Luxury companies wary of cheapening their brand with discounts may consider using cash back as an incentive, according to Julie Van Ullen, chief revenue officer at Rakuten. 鈥淐ash back as an incentive doesn鈥檛 have to equate to a discount,鈥� she said. 鈥淔or categories like luxury that are opposed to providing discounts, [rewards] don鈥檛 have to be about offering the lowest price.鈥�.

Many luxury brands are honing in on their D2C strategy with mixed results, Canaves said, but Canada Goose has seen signs of success, reporting a 22% increase in revenue for Q4 ending March 2024. 鈥淐anada Goose also announced a new creative director,鈥� Canaves said.

In an era marked by rapidly evolving consumer expectations, investing in technology has transitioned from a luxury to a critical necessity for online retailers aiming for growth in 2024. Despite economic uncertainties, a CommerceNext and Forrester retail outlook survey found that 42% of online retailers plan to make digital investments in their businesses in 2024.

The misuse of $8 billion in customer funds for personal gain and non-essential expenditures鈥攖hink luxury real estate and paying for a Tom Brady endorsement. Bankman-Fried's strategy of buying his own tokens, ultimately contributing to misrepresentation of the firm's financial stability.

Luxury spending decelerates as US consumers focus on savings and travel. Grocery shoppers still cutting back even as inflation cooled in May. Loyalty programs struggle to balance deals and margins as inflation lingers. More Chart of the Day:. 6/30 - CTV gains on mobile. 6/29 - Beauty and the bucks. 6/28 - Corner the marketplace. 6/27 - Where Gen Z buys. 6/26 - The CTVerse.

鈥淸Aritzia brands] their clothing as everyday luxury and I think that it comes at a price point that appeals to younger consumers.鈥�. Briggs pointed to Aritzia鈥檚 success using familiar Gen Z marketing tactics, such as leveraging influencers and pushing content on TikTok. Lesson learned: Even an older brand can make a splash by treating its entry into a new market as a branding opportunity.

Discount and value-focused retailers, like Walmart and Dollar General, will continue to benefit from consumers trading down in the grocery category, while luxury retailers like LVMH Moet Hennessy Louis Vuitton and Capri Holdings are bullish as China recovers from pandemic lockdowns. This was originally featured in the Retail Daily newsletter.

It's affordable luxury. Technically it's really expensive, but it's affordable luxury. And in that sense I'm actually kind of surprised to hear it's doing so well. Sky Canaves (22:51):. I think they've moved more into the higher end luxury into the approaching $2,000 jackets. I think there's a question of when you're buying outerwear at that price point, then how often are you buying?

Saks: Saks Media Network, announced this month, is already working with luxury brands like Chanel Beauty and Dolce & Gabbana. After a sluggish quarter from many luxury companies, the RMN could be a smart way for brands to woo consumers. But first, Saks must give advertisers a reason to work with it over established RMNs like Nordstrom and Macy鈥檚.

Case study: Reynolds pointed to an example early in his career, where Mercedes-Benz USA asked him to go after the phrase 鈥減re-owned luxury car.鈥� Reynolds suggested they go after the word 鈥渦sed鈥� instead, which was typed in way more often. But for the car company, it was vital to the brand鈥檚 luxury status that people not associate Mercedes-Benz with used cars.

Nearly 80% of those freight orders are for mid-priced items, as retailers anticipate softer demand for luxury products. Zoom out: Companies ranging from Walmart to Home Depot have noted that consumers are being more discerning about where and what they buy鈥攂ehaviors that are likely to remain in place for the better part of 2024.

Resold at Walmart is the retailer鈥檚 first destination for cross-category and cross-condition pre-owned products across categories like luxury, fashion, collectibles, and electronics. Walmart鈥檚 Collector Shop now allows pre-ordering, enabling sellers to build anticipation for product drops.

Pros and cons: A return to profitability gives Meta the luxury to invest in emerging technologies and establish its foothold in the red-hot generative AI market. It can also continue to imbue its products and services with AI including Meta Advantage+ and AI modeling for feeds and ads.

On the consumer side, travel spending is outperforming sectors like luxury goods. And with many consumers planning to travel and increase their travel spending, it should propel issuer growth. Why it matters: Amid an overall slowdown in credit card spending growth as a response to macroeconomic conditions, developing new travel services could help providers stand out to boost customer acquisition.

Money to spend: India holds particular appeal for luxury brands. Luxury spending by Indian consumers is expected to grow swiftly, from less than 鈧�8 billion ($8.41 billion) in 2022 to between 鈧�25 billion and 鈧�30 billion ($26.29 billion to $31.54 billion) by 2030, per Bain & Company data cited by Business of Fashion.

The trend: Social media is bringing dupe culture to new heights, as Gen Zers whose incomes have not yet caught up to their passion for luxury and premium products look for affordable ways to stay on trend.

Brands also have the luxury of choice. While there are now fewer overnight TikTok sensations, the market has become saturated with creators looking to score brand deals. That means competition is fierce.

Beauty is an 鈥渁dvantaged category with consumers, at the sweet spot of affordable luxury, self-care, and confidence-boosting,鈥� said Coty CEO Sue Nabi, during her company鈥檚 earnings call. Ulta Beauty鈥檚 net sales grew 12.3%, comparable sales rose 9.3%, and net income increased 4.7%. E.l.f. Beauty鈥檚 net sales soared 78.2% in its fiscal Q4, and it had a nearly tenfold increase in its net income.

鈥淢ost of our advertising partners use creators because they鈥檙e platform masters and they understand their audience,鈥� said Karin Tracy, Meta鈥檚 head of industry, retail, fashion, luxury. Creators help brands connect to the cultural zeitgeist without seeming fake or forced to younger consumers. Video ads are also crucial to reaching Gen Z consumers, said Tracy.

Considering eBay鈥檚 recent focus on luxury goods, Whatnot may have an opportunity to corner the collectibles market and grow its marketplace sales. eBay鈥檚 retail ecommerce sales have experienced uneven growth over the past two years, dipping 2.4% in 2023 before bouncing back slightly, growing 1.1% in 2024, per our forecast.

For instance, this weird ad format probably wouldn鈥檛 work for a luxury brand, but it does for a younger, more accessible brand. The ads are relatable, giving the feel that anyone could have made or thought of them. They鈥檙e often nostalgic through the use of vintage Microsoft Word tools like Clip Art and WordArt. And they can be funny, attention-grabbing, and recognizable.