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China sends a message to brands boycotting products from Xinjiang: Beijing is threatening to block Calvin Klein parent PVH鈥檚 access to China in an escalation of its 鈥渦nreliable entities鈥� tool.

They captured 32% of ecommerce payment value in 2021鈥攙ersus only 9% at the point-of-sale, per the 2022 FIS Global Payments Report. Mobile wallets鈥� share of ecommerce spend is expected to surpass 34.5% by 2025. The demographics: The youngest consumers are driving UK mobile wallet leadership.

The upgrade can bring in more value-added services revenues for the network and spur greater real-time payments adoption

UK food price inflation is hitting record highs鈥攂ut grocery sales are flat. Faced with rising bills, consumers are changing shopping habits to keep spending in check.

Unit sales from non-store retailers鈥攅.g., ecommerce pure plays, markets, and stalls鈥攈ave been trending downward since shoppers were able to return to stores in early 2021, per ONS data. People are also switching to budget stores now: Primark and Aldi, both primarily brick-and-mortar, are among those to have seen strong growth. Shoppers are slashing ecommerce spending on nonessentials.

EPI wil pilot a digital wallet and instant payments system after axing its plans for a pan-European payments network

The retail landscape in Europe looks bleak: Retail sales in Europe fell at the highest rate since July 2021. That鈥檚 a sharp contrast to the US, where consumers keep spending.

US grocery ecommerce sales will grow 17.4% in 2024 to total $219.04 billion, according to our forecast. Meanwhile, UK grocery ecommerce sales will grow only 5.1% to total $37.06 billion in 2024. 鈥淎t the end of the day, consumers in the US enjoy the conveniences of delivery, but they鈥檙e not necessarily willing to pay an exorbitant fee,鈥� said our analyst Blake Droesch, emphasizing the perceived value of Walmart+ and Amazon Prime memberships to these shoppers.

Across Europe search will claim a higher share of digital ad spending in 2023 than in other regions. Meanwhile, spending on retail media networks is surging. Total outlays on retail media in Europe hit 鈧�7.9 billion ($7.97 billion) in 2021, according to Interactive Advertising Bureau (IAB) Europe, and are expected to reach 鈧�25 billion ($25.21 billion) by 2026.

EWA gives consumers more financial flexibility, especially for gig workers and lower earners

On today's podcast episode, in our "Retail Me This, Retail Me That" segment, we discuss the differences between how US and UK consumers shop for groceries. Then, for "Pop-Up Rankings," we rank two grocery stores doing digital well, two taking an alternate approach, and why both can work. Join our analyst Sara Lebow as she hosts analysts Blake Droesch and Carina Perkins.

Discover the dynamic shift toward digital wallets in the US and the UK in the latest podcast episode of "Behind the Numbers: The Banking & Payments Show." Delve into the compelling discourse on how younger generations' move to digital is rendering traditional wallets obsolete. Join host Rob Rubin, our US-based analyst Tyler Van Dyke, and UK-based analyst Carina Perkins as they unravel trends in digital transactions for dining, shopping, and ID verification. In the "For Argument's Sake" section, we dissect the fierce competition for market dominance among industry giants like Apple and Google, established players like PayPal, rising star Paze, and potential disruptors. Tune in for a forward-looking conversation and hit subscribe for the latest insights. Key insights: - Youth-led shift: Analysis reveals a robust trend among younger consumers pivoting to digital wallets for everyday activities, indicating a cultural and technological shift. - Market dominance debate: We uncover the strategic moves by tech titans and emergent challengers vying to capture the largest share of digital wallet users. - Cross-Atlantic perspectives: Insights from US and UK analysts present a diverse view on the adoption of digital wallets, offering a broader understanding of the global digital economy.

TikTok shifts its European algorithm to comply with EU鈥檚 Digital Services Act. The news: TikTok is offering its European users the option to opt out of its signature personalized feed in compliance with the European Union鈥檚 Digital Services Act (DSA),. Opting out will result in users viewing popular global and local videos irrespective of personal interest or viewer history.

Stringent return policies deter shoppers from making a purchase: That鈥檚 why several retailers are adopting nuanced approaches to protect their margins without turning shoppers off.

The issuer will have to innovate its card offerings to contend with the UK鈥檚 lower interchange revenues

Because it exited the crypto market in the US, its stablecoin would likely only be available in the UK and parts of Europe. Why it matters: Revolut is following in PayPal鈥檚 footsteps. The US-based payments player launched the PayPal USD (PYUSD) stablecoin in 2023. But a year in, adoption of the stablecoin remains limited. Revolut will likely face similar challenges.

Businesses with sufficient funds are making a relatively safe bet by focusing on the power of key shopping and travel destinations to drive sales鈥攚hich luxury labels like Victoria Beckham have cited as critical to fueling growth in otherwise dampened times of spending.