Cross-border sales are booming in Western Europe despite a slowdown in adoption. As China鈥檚 ecommerce giants eye European expansion, local retailers face a competitive threat鈥攁nd a substantial opportunity.
France will see stronger growth in digital ad spending than both Germany and the UK this year. Most industries aren鈥檛 contributing to that growth, though, with only travel and retail seeing any significant investments.
Our first-ever worldwide forecast for retail media ad spending shows enduring momentum and lots of good news for Amazon and other ecommerce platforms around the world.
Acquiring Worldpay will also help Global Payments expand to new markets like Japan and France. The combined entity will also save money by eliminating redundant vendors, software, and organizational structures. Global Payments is forecasting approximately $600M in annualized run-rate expense synergies.
Its global same-store sales fell 1.5%, a much bigger decline than the 0.6% that analysts surveyed by StreetAccount expected, due to struggles in international markets such as the Middle East, France, and the UK. That was the second-straight quarter the company鈥檚 global same-store sales have fallen.
Cost, lack of third-party verification, limited on-site ad space, and limited activation options are some of the top challenges brands and advertisers in the US, France, Germany, and the UK face when using retail media networks (RMNs), according to an August 2023 DoubleVerify study.