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Launching the Retail Radar!
Hi all, Welcome to the first Retail Radar, a weekly digest of top retail and eCommerce stories for you to follow what’s going on in the industry. Top News Stories Foot Locker's third-quarter results showed that sales declined -1.4% leading to to a $33 million loss. The retailer called out sales had been hurt by a weaker consumer spending that concentrated on the back-to-school season and pulled back in September and October, as well as “softness” from its largest brand partner Nike. Saudi Arabian online cosmetics retailer NICE ONE plans to raise as much as $322 million with an initial public offering in Riyadh, adding to a flurry of listings in the kingdom this year. Aldi UK also opened four new stores as part of its £800m investment to target 1,500 UK stores. Industry Interest Stats: Personalization Brands that excel at Personalization are: 48% more likely to have exceeded their revenue goals 71% more likely to report improved customer loyalty Yet, consumers recognized just 43% of their experiences as personalized, whereas brands said that they personalize a much higher percentage of customer experiences—61% on average. BFCM 2024: Shopify hit new heights Shopify merchants drive record-high $11.5 billion in sales over Black Friday Cyber Monday - up 24% from last year The shopping frenzy peaked at 12:01pm EST on Friday when sales reached a dizzying $4.6 million per minute. The Average cart price landed at $108.56 TikTok proves social commerce is growing TikTok Shop has revealed it achieved “record-breaking” sales over Black Friday: It tripled its US shopping sales to more than $100 million on Black Friday, The app’s e-commerce feature, also drew a 165 percent annual increase in shoppers for the two days between Black Friday and Cyber Monday, More than 7 billion posts included the hashtags #tiktokshopblackfriday or #tiktokshopcybermonday. Look out for a BFCM blog launching later today with some Braze Retail & eCommerce stats!Elevated Shopping Journeys Will Be Essential for Retail in 2025: Lessons from Black Friday/Cyber Monday
The Black Friday/Cyber Monday (BFCM) shopping period is a major event for consumers and retailers alike. What did we learn from this peak event this year and why are elevated shopping journeys going to matter in 2025? Learn more in the latest blog from Braze.Forbes: 6 Research Findings That Prove 1st-Party Data Is Reshaping Personalized Shopping
Hello y'all! I'm back to share a recent Forbes piece that I thought you’d find interesting! It dives into the importance of 1st-party data as brands navigate the ever-evolving expectations of shoppers. The article includes interesting insights from our Braze team on how retailers can better leverage their own data while maintaining consumer trust–something I know is top of mind for many of you. Curious to hear your thoughts! How is your data strategy evolving to better enable personalized shopper journeys?🎉 Meet our new retail industry lead, Meredith Mitchell!! 🎉
Hello retail community! I'm so excited to introduce Meredith Mitchell, who recently joined Braze to lead our retail industry practice. Meredith brings a wealth of experience leading eCommerce and marketing at Disney, Biltmore & Altar'd State. You'll be hearing from Meredith more soon, but please help me give her a warm welcome. And please let us know if there's anything you'd like to learn or discuss in this group!
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