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The return to offices and social events is inspiring consumers to level up their wardrobes and focus more on apparel and footwear. YOY growth this holiday season, whereas departmentstores will only see a 0.3% Focus on bringing people back to stores: In-store retail sales are expected to increase 7.9%
Imagine putting on a VR headset and walking through a departmentstore, interacting with products and making purchases all from the comfort of your home. The rise of socialcommerceSocial media platforms have evolved from simple networking sites into full-fledged e-commerce platforms.
Secondly, having a strong e-commerce channel enables customers to find products online that they may have struggled to locate in-store. Sales Mobile commerce has become the norm and socialcommerce has grown, especially as Gen Z become young adults with their own spending power.
SocialCommerce. In 2021, US consumers spent $37bn on goods and services purchased through social-commerce channels, expected to hit $80bn and $2 trillion globally in 2025. Levelling up the socialcommerce space is live commerce.
Back-to-school shoppers overwhelmingly cite mass merchants (77%) as their most preferred retail format, followed by online retailers (65%) and off-price retailers (tied with departmentstores at 39%). Technology and apparel lead the charge among pre-owned products (both at 28%).
Amazon is building Micro Fulfillment Centers to deliver fast-moving grocery & convenience SKUs in under 45mins. A hundred and forty thousand square foot micro fulfillment centers. Um are we leaning heavily into it and we’ve seen Walmart due to two pilots where they had Commerce events on Tik-Tok now, and. [30:54]
Meses is in a really challenged category departmentstores just aren’t doing well and are generally declining and so you know odds are we’re there and they did you know come out with a soft earnings report, you know that there’s a couple favorable things in it but the top line is is that they’re shrinking.
No Shopify launches an ad product such as a retail media network Yes Meta/Google/TikTok lose ad share to new social media platforms and retail media networks. For 2023, live streaming commerce, still not meaningful in the US. Number five prediction for Jason Retail Geek.
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