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The program, introduced early in the pandemic, lets cardholders redeem points in categories outside of travel. Inflation has had an outsize effect on food and beverage providers. Rising food prices have outstripped broader inflation every month since March 2022, according to the Bureau of Labor Statistics鈥� Consumer Price Index (CPI).

Travel check-ins, dining reservations, and other notifications in the messaging app can be sent directly to Wallet, starting with partnerships with Vietnam Airlines, Spain-based Renfe, and reservation service TagMe. Save company IDs. Google will add support for corporate IDs later this year. Google鈥檚 opportunity: These features can resolve pain points and meet consumer demands.

The cohort views it as a tool to simplify their lives鈥攖o edit essays, check code, and plan travel itineraries, among other tasks. Gen Z spends the most time on social media. Gen Zers ages 18 to 24 spend more time on Instagram, TikTok, and Snapchat than any other age group, according to our forecast.

Travel and ticketing, which makes up 16% of its gross merchandise volume, shot up 62% YoY in Q3. But consumer electronics declined 8% YoY, and the home and lifestyle category slumped 10% YoY. Affirm鈥檚 biggest drop came in the sporting goods and outdoor category, which plummeted 48% YoY. This is largely due to Peloton鈥檚 interminable volume slide.

A two-day rail strike on Tuesday and Wednesday鈥攖he first in a wave of actions that will affect train travel for four weeks around Christmas鈥攁long with inclement weather has kept shoppers from stores. Footfall at shops close to offices in central London was nearly 37% lower on Tuesday than the same day in 2019, per Springboard data reported in The Guardian, and it was down 26% across all of the UK.

The environmental fallout includes economic disturbances such as factory shutdowns, higher risk for insurers, disrupted tourism industries, supply chain havoc, property damage, network outages, and food-price inflation. Increasing climate-related regulation internationally means demand for effective climate technologies will rise over the long term.

An ad for wine belongs on a platform for wine lovers, an ad for an Arctic cruise on a travel platform, and so on. If Twitter implodes, the end result could be 鈥渁 healthy world of fragmentation,鈥� said Gerstel, who notes the surge of interest in Mastodon since the takeover. Given the low technical barriers of entry, more affinity-based platforms could emerge.

Food services and drinking place sales (i.e., restaurant sales, restaurant delivery ordered online); travel sales; event ticket sales; payments such as bill pay, taxes, or money transfers; and gambling and other vice good sales.

There's burgeoning commerce media networks on travel and financial channels. It's like you can't even turn on any smart TV without getting hit with a bunch of ads that are incorporated into the operating system these days. And even on streaming services, I think, and Ross can speak to this too, consumers on ad tiers are more lucrative for the services than subscribers.

鈥淣ow, a lot more spending is going toward services, restaurants, and 迟谤补惫别濒.鈥�. These experiences, and the backlog of special events such as weddings, are also bolstering spending in apparel, footwear, and accessories. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.

Nearly two thirds of Boomers have made a digital purchase in the last 12 months, and some of the spending includes travel at higher rates than the rest of the population, because they have more leisure time and they have the money, which is great for them, very happy for them. Not jealous at all. But they're also picking up TikTok faster than any other platform.

Shoppers surveyed by PYMNTS and i2c expected to spend $860 on non-gift holiday purchases, including experiences such as travel and entertainment鈥攁 26% decline YoY. At the same time, spending on gifts is expected to rise 2.2% YoY. Buy now, pay later (BNPL) usage is on the rise.

PwC expects spending to grow by 7% year-over-year (YoY), with average spending on gifts, travel, and entertainment reaching $1,530. Adobe Analytics鈥� holiday report expects online sales to grow 4.8% YoY to $221.8 billion in the period between Nov 1 and Dec 31. Our own forecast puts US holiday sales growth at 4.5% this year, the sixth-fastest increase in the past 15 years.

Last month, Walmart opened up its retail media business to non-endemic advertisers, starting with automotive, entertainment, financial services, quick-service restaurants, and travel. Home Depot made the same move in March to expand its retail media offerings, betting on unique segmentation, based on customers鈥� home improvement goals, to draw non-endemic advertisers. Listen to the full episode.

The company will continue to streamline the customer experience across its app and site, focusing on shopping hubs based on specific use cases like weddings, travel, or work parties. Rent the Runway is also planning to scale its one-on-one texting concierge service, which nearly 40% of customers used within 90 days of their first purchase in 2023.

Some 51% of decision-makers at US and UK retail and travel organizations say they plan to bring their commerce media tech stack in-house, and 49% plan on switching technology partners, according to a Forrester Consulting study conducted on behalf of PubMatic.

There鈥檚 just one catch: Credit cards are something of a rare beast鈥攚hat other payment method offers 6% back on groceries or a 60,000-travel-point introductory offer? They have that magic mix of interest income, interchange fees, and membership fees. The annual average return on asset for a credit card was about 4.41%, per the Federal Reserve.

The Wing Delivery Network aims to enable drones to pick up, drop off, travel, and charge in whatever pattern makes the most sense for the entire system. The idea is to make the ridesharing-like system flexible enough to meet different retailers鈥� and restaurants鈥� peaks in consumer demand across entire cities.

The big picture: So far, consumer spending is proving more resilient than pundits expected, due in part to the health of the labor market, larger-than-expected pandemic cash cushions, and an undiminished desire to spend on experiences like travel and entertainment. But persistent cost pressures are weighing on consumers鈥� ability to spend, despite easing inflation and recovering wage growth.

The company鈥檚 regionalization efforts decreased the distance items travel, which lowered its costs. In the US in 2023, Amazon reduced its cost to serve by more than 45 cents per unit compared with 2022.

Perfect Corp. is also partnering with travel retailer Dufry to bring AR-powered makeup try-on experiences to airports around the world. Dior is offering a live online consultation service for beauty customers using AR makeup virtual try-on technology.

FIs are likely to miss out on new customers if the customer is required to travel to a branch to open an account. Small FIs shouldn鈥檛 be bystanders on social media. Participating on posts and engaging with customers on various social media platforms can improve the customer experience and aid in personalization. (Check out tips for engaging on social media here.). Know who you鈥檙e working with.

Plus, some research examining the cost of telehealth doesn鈥檛 include savings realized by employers and their workers from not having to travel or take off work. Our take: The debate over telehealth鈥檚 impact on healthcare spending is still very much TBD. We believe the greatest value of telehealth is not that it鈥檚 a huge cost saver. Here鈥檚 where telehealth proves its worth:.

And any excess funds are more likely to be funneled to services like travel and dining out over items like televisions and furniture. How retailers can respond: The most pressing question for retailers now is how to encourage value-conscious shoppers to spend at a time when they feel increasingly stretched thin.

And the proliferation of BNPL entrants鈥攎any of which target specific sectors like travel or healthcare鈥攎ay exacerbate concerns that consumers could inadvertently fall into unmanageable debt. This article originally appeared in Insider Intelligence's Payments Innovation Briefing鈥攁 daily recap of top stories reshaping the payments industry.