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Fragrance is the fastest-growing personal luxury category in the US, Ä¢¹½AV forecasts. Brands have taken note of this—-Neiman Marcus just launched a fragrance subscription partnership, Claire’s has leaned into perfume to chase Gen Alpha’s approval, and fragrance is Amazon’s fastest-growing beauty category in the US, Ä¢¹½AV forecasts.

US omnichannel retail media ad spend will account for nearly a quarter of total media ad spend by 2028, reaching $129.93 billion, per our forecast. This growth will be fueled by a surge in retail media search, non-endemic partnerships, and off-site placements. However, financial media networks may give retail media networks some competition for advertiser dollars.

Even as ecommerce alcohol sales rise, physical stores continue to dominate the path to purchase. Nonalcoholic beverages and Dry January are also picking up steam.

Partnerships with firms like DoorDash will also help Klarna boost its momentum: We forecast °­±ô²¹°ù²Ô²¹â€™s US payment value will total $41.54 billion by 2028, up 65% from last year.

The two plan to bring the tie-up to ecommerce payments and other geographic markets later. What it means for Klarna: The BNPL firm has made multiple partnerships to expand its merchant acceptance ahead of its now-delayed IPO: including with Walmart’s OnePay, DoorDash, JPMorgan Payments, and Stripe. Partnering with Clover will help it to make in-store inroads, which has eluded most BNPL players.

A2A payments made up 5% of US ecommerce purchases in 2023, per Worldpay, and that share is only expected to grow to 7% by 2027. For in-store retail, A2A payment usage is almost nonexistent. Real-time payments innovation could spur usage, but not in the short term. Merchants want to capitalize on the benefits of A2A payments.

The number of Gen Z mobile proximity payment users will rise from 32.8 million in 2024 to 50.0 million in 2028, per our forecast—which will represent 37.7% of overall users. That year, we expect 70.6% of Gen Z internet users to make mobile proximity payments. Click here to view our full forecast for US proximity mobile payment users, by generation.

For example, Diageo on Monday bought Ritual Zero Proof Non-Alcoholic Spirits, which is the best-selling nonalcoholic spirits brand in the US, per ISWR. Many other companies, including Guinness and Heineken, have also entered the space. LVMH is wise to put itself in a position to provide consumers who don’t want to imbibe alcohol with appealing alternatives.

Over half (53%) of US business leaders at midsize companies identified the introduction of new products/services as their growth strategy through 2025, per a January report from J.P. Morgan.

Luxury brands are grappling with downturns in the US and China, the largest markets for personal luxury goods, and will have to seize opportunities for growth from new markets and product innovation.

We forecast ´¡´Ú´Ú¾±°ù³¾â€™s US payment value will total $30.58 billion this year, up 15% YoY. Building a relationship with a new issuer is also a smart move for Affirm given Evolve Bank’s current regulatory issues, which could lead to Affirm needing to break off the tie-up in the future.

The BNPL provider has made strong inroads in the US but faces steep obstacles in growing its market share

Ecommerce sales have returned to modest growth in Western Europe as the economic outlook brightens and more people embrace the convenience of shopping via mobile phone.

This report presents five of the most intriguing and/or under-the-radar positive forecasts for 2024 that clients should be aware of, as compiled by our forecasting team.

Mobile P2P payments are reaching market maturity in the US as spending soars, but security challenges threaten to reverse gains. Providers are working to assuage consumer fears while adding a robust array of features to tighten user relationships.

Zelle's US P2P transaction value is expected to jump up 24% YoY this year, per our forecasts. This growth is especially impressive given Zelle is already the largest US P2P app, giving it a shorter runway for growth than its peers. We forecast Zelle will account for 54.6% of total mobile P2P transaction value in 2025, compared with Venmo’s 20.5% and Cash App’s 10.6%.

We forecast ´¡´Ú´Ú¾±°ù³¾â€™s total US payment value will hit $30.58 billion this year. The bigger picture: BNPL players have been pushing platform and other nonmerchant partnerships to reach more merchants faster and more easily. For example, Affirm expanded its tie-up with Shopify in the UK and Canada, and Klarna partnered with Worldpay, JPMorgan Payments, and Adobe Commerce.