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How may I help you? What was the top factor marketers said contributed to providing a successful customer experience?
A) Resolving a customer’s problems/issues
B) Connecting with customers in real time
C) Offering personalized experiences
D) Collecting and using customer feedback
Fifty-seven percent said fixing consumers’ problems was the top factor, according to Ascend2. Connecting in real time came in second at 45% and personalized experiences rounded out the top three at 40%.
Which region do we predict will have the largest retail sales growth in 2023?
B) Latin America
C) Middle East and Africa
D) North America
We predict the Middle East and Africa will see 6.0% growth this year. Asia-Pacific comes in second at 5.1%, followed by Latin America in third with 4.8% and North America in fourth with 3.1%.
Dine and dash: What percentage of US restaurant workers say they won’t be in the industry in a year?
Nearly 1 in 4 plan on leaving the food service industry, with 46% citing pay as the biggest contributor to job satisfaction, according to a survey by Kuru Footwear.
Which three generations will represent 80% of global luxury purchases by 2030?
A) Gen X, Millennials, and Gen Z
B) Baby Boomers, Gen Z, and Gen Alpha
C) Millennials, Gen Z, and Gen Alpha
D) Baby Boomers, Millennials, and Gen Alpha
The three youngest generations will account for four-fifths of all global luxury purchases by 2030, per Bain & Company.
Stay tuned for more on the luxury category tomorrow.
By how much did retail media’s impressions increase in the third quarter of 2022?
In addition to impressions increasing, cost per click decreased 12% year over year, according to Skai.
True or false? Alibaba’s retail ecommerce sales in China were nearly twice that of Amazon’s worldwide in 2022.
True. Alibaba’s total retail ecommerce sales hit $1.229 trillion compared to Amazon’s $657.02 billion, per our estimates. These differences can be attributed to marketplace size. We estimate that China accounts for 50% of global ecommerce sales, while the US, Amazon’s biggest market, makes up about 18%.
By how much do we predict US ecommerce resale volume to increase in 2023?
After a 6.6% drop in 2022, we’ll see a 7.5% spike this year to reach $82.78 billion, according to our forecast. Non-ecommerce resale volume will also grow by 7.8% to reach $28.14 billion this year.
Think fast: What was the click-to-door speed for Amazon in July 2022?
A) 1.9 days
B) 2.6 days
C) 3.0 days
D) 3.1 days
Amazon’s delivery speed was 1.9 days in July 2022, slightly up over April’s 1.8 days. That’s a drop from January’s 3.0. How did non-Amazon retailers fare? Their click-to-door speed was 4.4 days in July 2022.
How much will worldwide transaction payment value on PayPal and PayPal-enabled platforms grow this year?
That growth will bring transaction payment value to $1.520 trillion. Worldwide core PayPal users will also reach 201.2 million this year, making up 3.3% of the global population.
Which luxury handbag brand was the top searched by Gen Z in 2022 on resale site Fashionphile?
B) Louis Vuitton
Millennials sought out Prada and Gen X searched for Hermès while baby boomers kept it classic with Louis Vuitton.
US grocery ecommerce for December 2022 reached $9.1 billion in sales, a 2.4% increase year over year. Which category accounted for the most sales?
A) Pickup (including in-store, curbside, lockers, and drive up)
B) Delivery (including first- and third-party providers)
C) Ship-to-home (including common and other parcel carriers)
Pickup brought in $4.4 billion, nearly half of the month’s total sales, according to Brick Meets Click and Mercatus.
Which grocery delivery intermediary is the US’s second-largest, capturing nearly 11% of total US digital grocery sales this year?
While Instacart remains the king of grocery delivery, capturing 73.0% of US digital grocery sales this year, DoorDash is growing its share to 10.9%. Uber is growing its share as well, hitting 7.2% of total US digital grocery sales in 2023.
True or false? Ecommerce will make up the larger part of returns this year.
False. Non-ecommerce returns will make up 66.2% of returns in 2023 to ecommerce’s 33.8%, according to our forecast. But the gap is shrinking. Ecommerce returns will grow 4.2% this year to non-ecommerce’s 1.2% growth.
How many millions of vinyl albums were sold in the week ending December 22, 2022?
A) 1.45 million
B) 2.04 million
C) 2.32 million
D) 3.19 million
According to data from Luminate, 2.32 million vinyl records were sold in the second to last week of the year, the single-largest sales week for vinyl albums since 1991, per Billboard.
Let’s talk shop: Which grocery category has the highest ecommerce sales penetration in the US?
A) Health and personal care
B) Pet products
C) Food and beverage
Pet products with 36% ecommerce penetration in 2022. Health and personal care came second at 16.5% while food and beverage came in fourth at 5.5%. Total grocery ecommerce penetration was 9.9%.
True or false? The No. 1 reason that US and UK consumers return their online purchases is because the products are damaged or defective.
False. The majority (55%) of US and UK consumers return items because they are the incorrect size, a bad fit, or not the right color. Slightly less (48%) return items because they are damaged or defective.
Which of the following ecommerce giants has the largest market share in its respective market?
A) Alibaba (China)
B) Amazon (US)
C) Mercado Libre (Latin America)
Alibaba, by a hair, at 40.7% in 2023, per our forecasts. Amazon will reach 38.7% market share, with Mercado Libre coming in at 21.6%.
Which of the following foods is not a sponsor of a college football bowl game this season?
A) Idaho Potato
C) Duke’s Mayo
Trick play: All of these are bowl games. The Famous Idaho Potato Bowl was December 20, there are two Cheez-It-sponsored bowls on December 29 and January 2, the Duke’s Mayo Bowl is December 30, and the Sugar Bowl is December 31.
US millionaires are cutting back on holiday spending due to inflation, according to a new poll by CNBC. Which generation’s millionaires are cutting back the most?
Millennials, with 100% saying they are cutting back on holiday spending. The least likely are baby boomers at 78%.
Which product category will make up over 78% of Amazon’s ecommerce sales this year?
A) Computer and consumer electronics
B) Books, music, and video
C) Office equipment and supplies
D) Toys and hobby
The books, music, and video category will account for 78.5% of Amazon’s ecommerce sales this year, followed by computer and consumer electronics (50.3%), office equipment and supplies (47.0%), and toys and hobby (39.0%).
Amazon will account for 38.2% of all US ecommerce sales this year, per our estimates.
True or false? US direct-to-consumer (D2C) ecommerce sales will increase next year.
True. We predict sales will increase from $155.69 billion in 2022 to $182.62 billion in 2023. Sales growth, however, will slow, declining from a 21.3% growth in 2022 to 17.3% in 2023. But D2C ecommerce sales will make up slightly more in total ecommerce sales in 2023, rising to 15.5% in 2023 from 15.1% in 2022.
By what percentage will the UK’s total retail ecommerce sales grow in 2023?
We predict just a 2.3% rebound off of 2022’s substantial decline, to reach $195.97 billion.
Which of the following isn’t one of Datassential’s flavors and ingredients to watch for 2023?
C) Black salt
E) Spicy maple
Black salt is sooo last year. No, really, it is. Other flavors and ingredients to look out for next year include mangonada, ube, new mushrooms and related snacks, salsa macha, London fog, and ranch water.
How much did online prices decrease in November?
According to the Adobe Digital Price Index, online prices fell nearly 2% year over year in November, marking the third month of declines in a row. Discounts during the Cyber Five helped drive down prices.
True or false? We project total US ecommerce sales to pass $1 trillion for the first time in 2023.
False, but not entirely. We do expect US ecommerce sales to be over $1 trillion in 2023, but that milestone will happen for the first time this year, according to our forecast.
How much will the US women’s extended-size market grow in 2022?
According to Coresight Research, the US women’s extended-size market will grow to $42 billion by the end of this year from $39 billion in 2021, a 9% increase year over year. This will represent over 23% of the total women’s apparel market in 2022.
True or false? US credit card fraud losses will grow faster than retail overall.
True, according to our new “US Card Payment Fraud Losses Forecast 2022” report. Fraud loss will reach $13.73 billion in 2024.
What is the most preferred retail format for US holiday shoppers this year?
A) Mass merchants
B) Online-only retailers
D) Department stores
E) Warehouse clubs
According to Deloitte, 56% of US consumers prefer online-only retailers for their holiday shopping, followed by mass merchants (49%) and off-price retailers (26%). Department stores and warehouse clubs are tied with 25% of consumers favoring each.
What percentage of the US population will use a smart wearable next year?
Just over 1 in 4 people in the US will use a smart wearable next year, or 89.6 million people, according to our forecast.
How many times were the top 10 ultrafast delivery apps downloaded in the first quarter of 2022?
A) 19.4 million times
B) 21.9 million times
C) 23.1 million times
D) 24.3 million times
The top 10 apps in this space were downloaded 23.1 million times collectively in Q1 2022, according to Apptopia. Getir leads by a wide margin, ahead of rivals like Gopuff and Gorillas. In the third quarter, downloads fell to 10.3 million.
Besides Amazon, what is the only other retail media ad business we predict will net more than $1 billion this year?
We predict Walmart will bring in $2.22 billion in US digital ad revenues this year, coming in second among retail media networks with 5.9% share of retail media ad spend this year.
True or false? Younger generations are more likely to opt out of apparel subscription services than older generations in 2022.
True. According to CivicScience, the percentage of 18- to 24-year-olds using these services dropped from 51% last year to 43% this year. Similarly, usage among 25- to 34-year-olds also dropped from 45% to 33%. Meanwhile, usage among 35- to 54-year-olds and those ages 55 and older slightly increased.
Which country is poised to become the world’s third-largest economy by 2030?
According to estimates by S&P Global and Morgan Stanley, India will overtake Japan and Germany to become the third-largest economy by 2030. Morgan Stanley says conditions like offshoring, manufacturing investments, and the country’s advanced digital infrastructure will all help fuel the economic boom.
How many more shoppers hit the store (either online or in-person) this Cyber Five when compared to last year?
A) 10 million
B) 15 million
C) 20 million
D) 25 million
Adults across all age groups are planning less travel this holiday (between Thanksgiving and mid-January) than last. What’s the No. 1 reason for the decline?
A) Can’t afford it
B) Planning a bigger trip next year
C) Cannot get away from work
D) Concerned about health
It’s the economy, stupid. More than 35% of all adults said money was the top reason they are cutting back, per Deloitte.
How much did shoppers spend online this Black Friday?
A) $8.5 billion
B) $9.1 billion
C) $9.8 billion
D) $10.2 billion
According to Adobe Analytics, consumers spent a record $9.12 billion online this Black Friday, up 2.3% from last year.
True or false? More people will shop the Cyber Five this year than ever.
True. According to the National Retail Federation, 8 million more people will shop the time period than last year and 1 million more than in 2019. In total, 166.3 million people will buy during the peak holiday shopping period.
What is the top reason that US Gen Z consumers made their most recent social media purchase?
A) They saw an ad for it
B) They found the product(s) they like
C) They saw a deal, an offer, or a coupon
D) The social platform made it easy to make the purchase
Product discovery is the top reason Gen Zers in the US buy through social media, with 45% saying they did so because they found items they liked. A comparatively low 22% cited influencers and creators, while just 16% were swayed by the company or brand name.
How many million people will use the buy now, pay later (BNPL) service Klarna next year?
Some 40 million people will use Klarna in the US next year, marking a 15.6% increase for the BNPL service. Over the coming years, growth will slip into the single digits, a far cry from the 115.0% surge back in 2020.
What percentage of US adults have used augmented reality (AR) or virtual reality (VR) while shopping, as of August 2022?
According to Bizrate Insights, only 13% of US adults have used AR or VR while shopping. Though the overwhelming majority have not, 38% are at least somewhat interested in trying the tech.
True or false? Target said “organized retail crime” has cost the company $400 million in extra profit loss so far this year.
True. The retailer said in its third-quarter earnings call that it expects the full-year impact to be $600 million.
True or false? Online grocery sales in October declined over 3% month over month, but stayed flat versus a year ago.
False. In fact, it was the opposite. According to the Brick Meets Click/Mercatus Grocery Shopping Survey, October online grocery sales totaled $7.8 billion, a 3.7% decline year over year, but no change from September.
Instagram Reels content is most popular within which industry?
According to Emplifi, 88% of sporting goods brands published Instagram Reels content in the third quarter of 2022, outpacing total brand usage (80%). Reels are Instagram’s top-performing post format by median interaction, followed by carousels, video, and images.
Which of the following do over half of small businesses say is one of their top challenges?
A) Finding and/or retaining customers
B) Rising prices on inventory and supplies (inflation)
C) Finding inventory or supplies
D) Building/maintaining social media presence
E) Rising rent
According to a survey by NerdWallet, 55% of small business owners reported that finding and/or retaining customers was one of their biggest struggles, though the rest of the choices above rounded out the top five.
Come January, what does the National Retail Federation (NRF) forecast the state of retail imports to the US will be on a year-over-year (YoY) basis?
A) 9.3% growth
B) 3.7% growth
C) 1.4% decline
D) 8.4% decline
The NRF says retail imports will continue the decline seen since May 2022 and will fall to an 8.4% YoY decline in January 2023.
What percentage of US adults have not used or heard of cashierless checkout?
Nearly three-quarters of US adults have not heard of cashierless checkout or used it. In fact, only 14% regularly use it, though that figure is higher among 18- to 34-year-olds, at 21%.
By how much do we forecast US retail ecommerce sales per digital buyer will grow in 2023?
We expect an 8.4% increase, just slightly higher than this year’s 8.0% growth.
Which of the following mall locations saw the biggest change in monthly visits in October?
A) Indoor malls
B) Open-air lifestyle centers
C) Outlet malls
Outlet malls with 7.5% growth, according to the latest numbers by Placer.ai. Consumers continue to look for deals, and outlet malls provide easy access to those. Will the trend continue throughout the holiday season?
Which of the following categories will US adults most likely consider purchasing pre-owned?
A) Furniture/home decor
According to Morning Consult, 74% of US adults would purchase books or games secondhand, followed by tools (69%), cars (65%), clothes (62%), and furniture/home decor (59%).
What percentage of US warehouse and fulfillment centers will use robots by 2024?
Approximately half of medium to large operators of warehouses and fulfillment centers will use robots by 2024, up significantly from 28.0% in 2019.
True, according to a new report from payroll processing firm ADP. Wages increased 7.7% on an annual basis. Private companies also increased their workforce, adding 239,000 positions in October.
Which category made up the highest gross merchandise volume (GMV) of US buy now, pay later purchases in 2021?
A) Mass market
C) Personal effects
Apparel had 50.5% of the GMV in 2021, according to the Consumer Financial Protection Bureau. That accounts for $12.43 billion. Personal effects came in second at 11.2%.
Drone delivery units will increase by what percentage this year?
That’s a total of 34,900 drone delivery units, up from 22,500 in 2021.
True or false? YouTube ads are three times more likely than other platforms to drive kids to ask their parents to buy things.
True. Thirty-six percent of kids said YouTube was where they saw a commercial for the last thing they asked their parents to buy for them. YouTube was the No. 1 platform that influenced what kids asked for, ahead of broadcast TV (14%), online websites (11%), and in-store (8%).
How much money will the average US consumer spend on candy this Halloween?
This Halloween, Americans are more likely to wear a costume that’s:
A) Completely homemade
B) More homemade than store-bought
C) More store-bought than homemade
D) Completely store-bought
Thirty-five percent of consumers who already have a costume picked out are wearing one that’s completely store bought. In fact, all but 16% of consumers will have some kind of store-bought accompaniment to their costume this year.
True or false? Nearly a third of US millennials shop via mobile during weekdays while at home.
True. Thirty-one percent of millennials shop on their mobile devices from home during the week, up from 27% in 2019. However, millennials shopping from work on mobile during the week saw the biggest jump from 2019 to this year, climbing 6% from 12% to 18%.
Retail remix: The top five retailers worldwide, ranked by ecommerce gross merchandise value (GMV) from 2021, are listed below in no particular order. Can you correctly rank them from highest to lowest GMV?
Alibaba, eBay, JD.com, Pinduoduo, Amazon
1. Alibaba ($1.294 trillion)
2. Amazon ($602.0 billion)
3. JD.com ($505.3 billion)
4. Pinduoduo ($383.0 billion)
5. eBay ($85.0 billion)
What percentage of consumers reported that everything they wanted was out of stock during Amazon’s second Prime Day event this year?
According to CivicScience, over one-third said that out-of-stocks prevented them from purchasing what they wanted, an increase from 27% during Amazon’s first Prime Day event in July.
Which generation is most likely to trust that Facebook protects their privacy/data?
A) Gen Z
C) Gen X
D) Baby boomers
Decreasing slightly from last year, 28% of millennials claim they trust the platform with their data. Baby boomers are the least trustful (10%) while Gen Z and Gen X fall somewhere in the middle (18% and 19%, respectively).
True or false? Apple’s US ecommerce revenues will be around 10 times its US ad revenues this year.
True. Apple is, after all, a hardware company in origin. According to our forecast, this year its US retail ecommerce sales will total $40.79 billion, while its ad revenues will be around $4.14 billion.
What is retailers’ top concern this holiday season
A) Inflation will force us to raise our prices to consumers
B) Increased inventory issues (having too much to sell)
C) Generating marketing ROI
D) Consumer spending levels down on gifts and holiday products
A potential decrease in consumer spending is the top concern at 63%, according to a new survey by CommerceNext. Inflation and inventory levels fall lower at 31% and 16%, respectively. Generating marketing ROI comes in second at 47%.
Which of the following are consumers most likely to give in exchange for a discount?
C) Date of birth
D) Email address
Consumers are most willing to give up their virtual inbox (85%), followed by gender at 70% and name at 60%.
How much will in-store contactless card transaction value in the US increase by this year?
According to our forecasts, that value will reach $351.31 billion in 2022.
History lesson: What year did Heinz acquire Kraft Foods?
The same year Dollar Tree acquired Family Dollar and Coach acquired Stuart Weitzman.
How many US internet users will use a buy now, pay later (BNPL) solution in 2026?
Nearly 40% of US internet users will use BNPL by 2026, according to our forecasts. That’s up from 30.7% in 2022.
Nearly a quarter of US adults have how much in unused gift cards?
Per CivicScience, 24% of US consumers have $100–$199 in unused gift cards. The majority (54%) have $1–$99, while 11% have $200–$299. Only 5% have between $300 and $399.
True or false? The US labor market added fewer jobs than expected in September.
False. The US added 263,000 jobs in September, higher than economists’ estimates of 250,000. While it was more than expected, it’s the second consecutive month of lower added jobs. The unemployment rate fell to 3.5% from 3.7%.
This year, 102.6 million people will buy via social platforms in the US. What will that number grow to by 2025?
A) 106.5 million
B) 110.8 million
C) 114.3 million
D) 115.4 million
Social buyers will exceed 114 million in 2025. Facebook and Instagram will remain the biggest US platforms for social commerce this year, attracting 61.9% and 40.0% of buyers, respectively.
Rank these passenger electric vehicle (EV) brands by worldwide shipment share in the second quarter of 2022: BMW, Tesla, BYD Auto, Volkswagen, Wuling.
In the second quarter, global sales of passenger EVs were up 61% year over year. More than half of those sales came from China, where EV sales had grown 92% from the second quarter of 2021.
More than 70% of digital buyers in Argentina, Brazil, and Mexico increased their online spending in the past year.
What was the most purchased digital category, according to our research?
A) Food and beverage
B) Computer and consumer electronics
C) Health, personal care, and beauty
D) Apparel and accessories
Which age group is most interested in livestreaming/video ecommerce?
Thirty-six percent of consumers ages 18-34 are either somewhat or very interested in livestreaming/video ecommerce, followed closely by consumers ages 35 to 54 (35% interested). Older consumers (those ages 55 to 65) are the least curious about the technology; half said they have no interest in it.
How many times larger will Amazon’s US retail ecommerce sales be than its closest rival Walmart Inc. this year?
Amazon will make $397.43 billion in US retail ecommerce sales this year, about six times more than Walmart Inc.’s $66.46 billion, per our forecast.
Rank the following companies by US digital grocery sales share: Target, The Kroger Co., Walmart Inc., Amazon, and Albertsons Companies.
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