Ä¢¹½AV

This year, most buyer and sales growth will be driven by TikTok Shop, which will convert over 40% of TikTok users into buyers. Social commerce and retail media will converge as Amazon’s ad partnerships with the social platforms start to pack a punch.

US retailers have closed more than 7,100 stores this year: That’s up 69% YoY, and more are coming as retailers like Macy’s and Advance Auto Parts struggle to convince cautious consumers to spend.

A record number of people plan to shop over the Cyber Five: The NRF’s forecast dovetails with stronger-than-expected October sales, suggesting retailers have momentum heading into the holidays.

Alibaba and JD.com tout Singles Day successes, but the data is murky: While transactions rose 27% YoY, the sale was 10 days longer than last year, making it an uncertain gauge of consumer sentiment.

In the years to come, more regulation around AI consumer products and services could curtail the industry’s advancement—but similar to last year, we’ll likely continue to see unfettered AI innovation in 2024.

Amazon will begin selling its ad tech to third-party retailers: The new Amazon Retail Ad Service will give companies access to the retailer’s advanced targeting and sizable advertiser network.