Millennials and Generation Z consumers are not satisfied choosing between digital and physical channels to do their grocery shopping — they want it all. By the Numbers The PYMNTS Intelligence study “ConnectedEconomy™ Monthly Report: The Urban-Rural Health Divide Edition” drew from a survey of nearly 2,500 U.S....
The impact of the pandemic on consumers’ geographic distribution has continued, with shoppers increasingly residing outside of major urban areas, and this trend away from cities is decelerating retail’s digital shift. PYMNTS’ Q1 eBook, “The Implications of Uncertainty,” collects insights from 18 payments industry executives to...
Walmart shouldn’t count on keeping the affluent customers it has recently gained, the retailer’s former U.S. CEO Bill Simon said Thursday (May 16). Speaking on CNBC’s Fast Money, Simon said that when the economic situation picks back up, affluent shoppers will go back to retailers that provide a...
Amazon and Walmart may be setting their sights on high-income consumers, but as the two retail giants compete for shoppers’ spending, they are working hard not to lose their lower-income customers in the process. Amazon, for its part, announced Wednesday (May 15) the introduction of...
CVS Pharmacy, the retail division of CVS Health, launched a new store brand for snacks, beverages and groceries. The new Well Market brand features nutrition options, bold flavors, recyclable packaging and selections that meet specific dietary needs, the company said in a Thursday (May 16) press release. Forty products were...
Fashion resale marketplace Poshmark is bringing artificial intelligence (AI) to its community of 130 million people via its Promoted Closet feature, which exited beta status Thursday (May 16). The tool leverages machine learning to align shoppers’ search terms with promoted listings, enhancing the visibility and...
Parents are buying fewer toys and games for their children, but adult collectors are still splurging on premium dolls, figurines and such, and toy and game companies are expanding their direct-to-consumer (D2C) offerings to meet this demand. Mattel, for instance, is looking to tap into adults’...
Consumers are increasingly buying clothing from third-party digital marketplaces, forcing more retailers to close shop. Most recently, Ted Baker’s North American business announced Friday (May 10) that amid bankruptcy proceedings in the United States, it is closing 40 locations across the U.S. and Canada, kicking off liquidation sales. It also announced...
May 2020. The COVID-19 lockdown was starting to ease, but it was in its second month. Consumers were flocking toward the dramatic digital shift that would eventually be the hallmark of the pandemic. At physical retail locations — like outlet centers — the outlook ranged from cautious...
