The new decade ushers in the next phase of mobile, with smartphones and smart devices as the primary link that connects us with the world around us. -from infographicjournal.com
Retail sales are up as US consumers embrace online shopping and shift spending from travel, restaurants and gasoline. -from Bain & Company
Brands that nurture emotional bonds with their customers tend to outperform top companies listed on the S&P 500 and Fortune 500 in both revenue and profit. Not only that, they can also build higher levels of trust, which in turn breeds a more loyal consumer base over time. -from VisualCapitalist
The results of this year's McKinsey Global Survey on artificial intelligence (AI) suggest that organizations are using AI as a tool of generating value. Increasingly, that value is coming in the form of revenues. A small contingent of respondents coming from a variety of industries attribute 20% or more of their organizations' earnings before interest and taxes (EBIT) to AI. -from McKinsey & Company
Screen time is up across the board, with some of the most dramatic increases seen among kids and teenagers. The consumer economy has been innovating on two fronts: making physical buying as “frictionless” as possible, and making e-commerce as nimble as possible. Thousands of people are moving out of pricey urban areas. -from VisualCapitalist
China's Double 11-day promotion – the world’s largest shopping event – shattered multiple records, as Chinese consumers flocked to homegrown and international brands. This year, the event featured two shopping windows, the first from Nov. 1-3, and the second for 24 hours on Nov. 11 to offer more opportunities for brands and merchants to extend deals to consumers. Total GMV for the event was calculated from Nov. 1-11, and easily beat last year’s $38.4 billion figure. The GMV for U.S. brands taking part was $5.39 billion for the entire shopping period, the largest contribution from a single country or region outside of China. -from Alibabacloud.com
Clothes were the most popular rentals, led by formal wear (41%), daytime/work attire (40%) and luxury clothing (33%). Common accessory rentals included handbags (21%), jewelry (16%) and shoes (13%). -from retailtouchpoints.com
As the country prepares for a housebound holidays, Americans will be ditching traditional festivities and embracing new adaptations. With 76% experiencing changes in how they’re celebrating this season, the holidays will never be the same again. Cheers Everyone and Have a Safe Holiday Season.
With a market cap of $1.7 trillion, Amazon is currently the most valuable retailer in the world. The company is expected to account for 4.6% of total U.S. retail sales by the end of 2020—but the tech giant is more than just a one-trick pony. -from VisualCapitalist
Retailers are focusing their attention on mobile strategies to improve the customer experience. As many as 32% of consumers said that they have researched a product on their smartphone prior to purchasing item within the brick-and-mortar store. -from retailtouchpoints.com
The average American checks their phone 96 times a day—that’s once every 10 minutes. A plethora of accessories and devices, known as smartphone multipliers, have surged in popularity—this market is set to generate $459 billion in revenue by the end of 2020. By 2025, there will be an estimated 5.8 billion smartphone users worldwide, or roughly 70% of the global population. -from VisualCapitalist
Did you know that the average age of the 100 most valuable brands in the world is an incredible 89.43 years, with 40 of the top brands having been founded more than 100 years ago? -from Infographicjournal
In many categories like cleaning supplies and toilet paper, retailers experienced demand equivalent of 4 months of demand in just 2 weeks. Grocery shoppers taking 30% fewer trips, but spending 37% more per trip than prior to COVID. – IHL Group
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