According to a recent forecast by the National Retail Federation, retail sales in 2023 will increase by between 4% and 6%. To stay competitive amid these unprecedented levels of growth, brands must continue to deliver personalized customer experiences through the use of innovative technologies.
Buy Now Pay Later (BNPL) is a short-term financing and payment option, enabling customers to purchase products and services and pay for them in equal installments over weeks or months. As many shoppers cannot use traditional financings, such as short-term loans or credit cards, BNPL allows them to
The E-commerce industry is in a state of constant evolution and the global pandemic has served as a catalyst for its growth. During this period, consumers have come to recognize the convenience and efficiency of online shopping, as well as the added safety and security it provides. Furthermore,
The retail industry has faced numerous challenges over the past two years. As the pandemic swept across the world, retailers had to adapt to a new way of shopping and new consumer behaviors. While the healthcare crisis began to ease in 2022, other problems took its place. Surging inflation, one of
The COVID-19 pandemic has boosted the shift to online shopping, especially during the lockdown, while numerous social distancing measures had a disruptive impact on traditional shopping. However, the rise of e-commerce occurred long before the onset of the healthcare crisis. According to Statista ,
As Americans prepare for the new holiday seasons, US retail sales are on the rise , pointing to resilient consumer demand. However, with important issues still plaguing the world, like the recent spike in the number of new COVID-19 cases in the UK , an ongoing conflict in Ukraine, and surging
There is no question about the fact that the COVID-19 pandemic and more recent problems—like inflation and the ongoing conflict in Ukraine—are still taking their toll on various industries around the world, including e-commerce. The global healthcare crisis reshaped shopping patterns in the US and a
Inflation continues to rise in the US, having already reached a rate of 8.6% in May—the highest level seen in the last forty years according to the Labor Department . The consumer price index (CPI) for the same month shows that the cost of living was also up one basis point from April, as prices f
According to the International Monetary Fund (IMF), Russia’s unjust war in Ukraine is having a negative impact on the global economy, contributing to a significant slowdown in global growth in 2022 and beyond. Moreover, problems fueled by the conflict are exacerbating existing issues such as i
Online stores are among the few businesses that have thrived during the COVID-19 pandemic, because people across the globe were forced to live, work and shop remotely. However, life is finally returning to normal—and so are shopping habits. While online stores will undoubtedly continue to grow and e
