With the first quarter recently in the books and Q2 well underway, most companies have their collective eye on an uncertain economy and an inconsistent consumer. But for some companies, it’s beginning to look a lot like the holidays. Count Balsam Brands among them. The...
With high-income shoppers disproportionately growing their adoption of secondhand retail channels, The RealReal is seeing its consignment business grow. The luxury resale online marketplace shared in its first-quarter earnings results, reported Tuesday (May 7), that consignment revenue rose 13% year over year. “We believe our continued focus on the core...
Pandora’s abandonment of mined diamonds has apparently not hindered its standing with younger consumers. Speaking to the Financial Times (FT) Tuesday (May 7), Alexander Lacik, CEO of the mass-market jeweler, said younger buyers helped fuel a boom in lab-grown stones that had led to a decline in sales of...
As shoppers integrate digital technologies into their retail journeys before and after entering the store, their brick-and-mortar expectations are evolving. PYMNTS’ Q1 eBook, “The Implications of Uncertainty,” draws on insights from 18 payments industry executives. Jeff Pomeroy, SVP and head of omnicommerce at Carat from Fiserv,...
As consumers continue to feel economic pressures constrain their budgets, ThredUp sees shoppers pull back on buying clothes — even lower-cost secondhand ones. On a call with analysts discussing its first-quarter 2024 earnings results, the resale platform observed that shoppers have been spending more conservatively. CEO James Reinhart noted that while...
When it comes to home improvement retail, millennials are taking the lead, PYMNTS Intelligence research reveals. By the Numbers The PYMNTS Intelligence report “The Online Features Driving Consumers to Shop With Brands, Retailers or Marketplaces” drew from a study of more than 3,500 U.S. consumers...
As Amazon gains share in hobby retail categories, specialty retailers such as Sam Ash are taking a hit. The music retailer announced Thursday (May 2) that it is closing all its stores. “It is with a heavy heart that we announce that effective May 2nd 2024, all Sam Ash Music Store locations will...
As commerce and entertainment become increasingly intertwined, high-intent consumers are still turning to brands’ and retailers’ websites to get their shoppable content. While commerce-integrated content such as shoppable livestreams have been catching on in China, consumers in the United States still prefer a more traditional online shopping experience, Vincent Yang,...
Shoppers might soon spot Target’s private-label brands at stores other than Target. Christina Hennington, the company’s chief growth officer, tells Bloomberg News that it is expanding sales of its in-house Cat & Jack children’s brand at department-store chain Hudson’s Bay Co. in Canada after getting positive feedback. According to...
