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But Shopify, like other retail-related companies, faces several potential challenges, including foreign exchange headwinds due to the strong US dollar, tariffs, and the Trump administration鈥檚 plans to close the 鈥渄e minimis鈥� loophole.

A 10% tariff on Chinese goods has already taken effect and proposed 25% tariffs on Canadian and Mexican imports鈥攃urrently paused for 30 days鈥攚ould add an additional $3,342 to annual expenses for a family of four, according to an analysis by James Knightley, chief international economist at ING.

Our predictions for retail media networks, smart TV watching, and generative AI.

Trump鈥檚 first days in office exacerbate uncertainty over tariff plans: While Mexico and Canada are firmly in the administration鈥檚 sights, other tariffs are up in the air.

Not its first rodeo: Best Buy aims to learn from its experience operating an online marketplace in the US from 2011 to 2016, as well as its marketplace in Canada. The retailer鈥檚 previous marketplace only drove about 1% of domestic revenues and led to confusion among consumers who bought items from third-party sellers then tried to return that merchandise to the retailer鈥檚 stores.

Wayfair pivots from Germany to focus on physical retail: The country鈥檚 challenging economic climate is one reason the retailer is reallocating resources to areas with better long-term potential.

It鈥檚 unclear if this pivot will affect the additional tariffs that Trump threatened to impose on Mexico, Canada, and China to compel stronger responses to migration and drug trafficking.

Trump risks trade war with planned 25% tariffs on imports from Mexico and Canada: Besides triggering retaliatory policies, the move would also lead to higher grocery, energy, and auto prices.

Tariff threats are also creating ripple effects around the world: They contributed to Canadian Prime Minister Justin Trudeau鈥檚 resignation and increased the likelihood that Chinese policymakers will allow the yuan to weaken. Our take: The impacts of Trump鈥檚 tariffs are already being felt鈥攅ven before their shape and structure are known.

Retail media鈥檚 positive hype is real. We expect it will disrupt the digital advertising landscape worldwide. In Canada, a handful of players鈥攍ed by Amazon, Walmart, and Loblaw鈥攈ave turned it into the fastest-growing ad segment in the country, and at scale.

Canada鈥檚 trade war with its largest trading partner is underway. While uncertainty remains around the scope and depth of US tariffs, Canadian brands and retailers need to rebalance a heavy reliance on US-based customers and suppliers.

Digital ad spending growth in Canada continues apace, driven in large part by key industries tied most closely to the digital economy. Our rankings show that retail and CPG lead the way, while sectors like travel and automotive are still recovering from hard times during the pandemic.

The news: Block鈥檚 Square will be Live Nation Canada鈥檚 exclusive provider of payments. Our take: Partnering with Live Nation Canada offers Square a space to test out its newest tech on large crowds in a confined space expecting fast turnaround times.