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Macy鈥檚 was a distant fourth at 9.7%, with Kohl鈥檚 (8.6%) and Best Buy (8.4%) rounding out the top five. Our take: Physical retail鈥檚 resurgence this holiday season underlines the importance of having enough staff on hand to handle the influx of customers鈥攅specially for struggling department store retailers under pressure to win back shoppers and regain relevance in a highly competitive landscape.

How Amazon Prime Day and other July sales events will drive in-store sales, from Target, Walmart, and Best Buy. Amazon, with more Prime users than ever, will top $8 billion in US Prime Day sales. What Amazon Prime Day鈥檚 growth means for retail media.

Best Buy launched a genAI-enabled virtual assistant that can help customers troubleshoot product issues, make changes to order delivery and scheduling, and manage subscriptions. Amazon launched Rufus, an AI-powered shopping assistant that can answer product questions, provide comparisons, and make recommendations.

Roku is one of the biggest players in retail media CTV advertising, partnering with The Kroger Co., Instacart, and Best Buy. The Kroger Co. also announced a partnership with The Walt Disney Co. in April. Walmart is working with NBCUniversal in a retail media partnership.

So I would say Best Buy, and to parallel what Zak was saying before, Best Buy believes that it doesn't believe in itself, at least from holiday perspective, but generally for the whole year.

Even Best Buy is more of a strip mall style retailer than a Nordstrom. Sara Lebow:. Yeah, I was just going to bring up Best Buy, which succeeded in Canada by acquiring an existing company, right? Paul Briggs:. Yeah.

But competition is growing as retailers such as Target and Best Buy launch or revamp their own membership programs. That increases the pressure on every retailer to find ways to distinguish their programs to keep shoppers enrolled.

The challenge: Target is entering a highly competitive market with many retail membership programs, from Costco and Best Buy to Instacart and Uber. Amazon Prime is the leader, with 97.2 million US households holding a membership in 2024, per our forecast.

Best Buy is a good example of a retailer embracing an omnichannel approach by making consumers feel like all purchase points are connected, said Kamikow. 鈥淭heir app is showing new design capabilities that feel very powered by AI,鈥� she said.

Live commerce platform TalkShopLive enables brands, creators, and retailers like Walmart and Best Buy to go live anywhere and sell products during and after their shows. Bloomingdale鈥檚 Outlet partnered with ShopShops for a 10-week program that featured influencers visiting different store locations and hand selecting products consumers could buy via the stream. 3. Third-party integrations.

鈥淓惫别苍 Best Buy is more of a strip-mall-style retailer than Nordstrom.鈥�. Since most Canadians live in the southern part of the country, cross-border shopping is huge. Nordstrom was unable to provide a unique appeal for its Canadian stores over its US ones. Without discounts or unique offerings, 鈥渋t wasn鈥檛 worth your while. You were better off cross-border shopping,鈥� said Davidkhanian.

This year will be especially tough for brands that rely on consumers鈥� discretionary spending, like Best Buy or Macy鈥檚. But there are some bright spots.

That Best Buy virtual assistant is interesting too because if you're Best Buy, you need a reason to bring people into the Best Buy app. You need a reason that I'm not just going to go into the Amazon app and search there or on Google, a reason that I'll look at Best Buy specifically. Beth Ann Kaminkow (09:26):. Yeah.

So I would think when people aren't buying TVs at Costco, might that mean that they're buying TVs somewhere with a few more options like Best Buy? Suzy Davidkhanian:. Best Buy, Amazon. I think there are different options. I think it just depends on what you're looking for and what your favorite method channel of shopping is. Zak Stambor:. But also people are not buying TVs by and large.

Most crucially, Amazon Prime Video reported it will introduce ads in 2024, Walmart and NBCU announced a partnership, Roku inked a deal with Best Buy, and Kroger linked up with Disney. CTV ad spending will be nearly twice what we expected for 2025.

Perplexity takes on Google: The AI-powered search engine launched a Buy with Pro ecommerce feature, along with a host of other shopping-related elements to broaden its utility and appeal.

On today's episode, in our "Retail Me This, Retail Me That" segment, we talk about what the leading retailers' Q4 performances tell us about the state of retail. Then for "Pop-Up Rankings: Earnings Awards Edition," we rank the two best and the two most concerning retailer performances of late. Join our analyst Sara Lebow as she hosts director of Briefings Jeremy Goldman and analyst Zak Stambor.

Deloitte鈥檚 holiday survey found that nearly a third of consumers planned to buy secondhand gifts in 2022 across a broad set of popular categories, including toys and electronics. In First Insight鈥檚 November 2022 poll, an even larger share of respondents (42%) said they planned to purchase used or secondhand holiday gifts.

Health and personal care will drive growth but won鈥檛 be enough to improve Amazon鈥檚 share of the overall US ecommerce market.

And while I think it's notable that they are seeking to pull the holiday season into September, there are other retailers, notably Best Buy, who are also doing that and likely to find more success with it. Sara Lebow (17:41):. And Best Buy is doing it with a hologram, so there's that. Arielle Feger (17:46):. But you're right.

Walmart, Target, and Best Buy are among the retailers that offer competing promotional events. As other leading retailers counterprogram against Prime Day with their own deep discounts, consumers benefit from increased price competition and alternative options for out-of-stock products. The event has become a shopping tentpole that now rivals Black Friday or Cyber Monday.

Marketplace enablement platform Mirakl, which powers marketplaces for more than 300 retailers worldwide鈥攊ncluding Macy鈥檚, Kroger, and Best Buy鈥攈as also eased the path to marketplace adoption. A wide range of retailers are investing in and expanding marketplaces. Large, multi-category retailers like Walmart, Target, and Macy鈥檚 have the advantage of high traffic volumes that can support scale.

Roughly one-third (34%) used the event to stock up on products they typically buy from the retailer. Shoppers also took full advantage of flexible payment options: Buy now pay later accounted for 7.6% of online orders, or $1.08 billion of spending, an increase of 16.4% YoY, per Adobe.

Best Buy鈥檚 Q2 revenues were down 7.1% YoY to $8.89 billion, underscoring weakening demand for electronics as a result of the buying cycle accelerated by the pandemic, when consumers upgraded their entertainment systems. Consumers鈥� spending is resilient鈥攅specially when they have money to spend. Last month, US retail sales increased 3.8% YoY, slightly outpacing inflation.