Bizrate Insights in the News – October 2019
Retailers have much to be concerned about this holiday season. Emerging trends like shopping-enabled gaming and social commerce are actively reshaping consumer purchasing behavior this season, however, economic uncertainty and mixed consumer confidence are contributing to a more pessimistic holiday forecast than in previous years.
Bizrate Insights data on spending behavior and buying trends was featured across a range of retail industry news outlets in October. Here’s a roundup of the top stories:
- Walmart is rethinking its ecommerce strategy and cutting back on staff as it tries to reach more affluent, educated shoppers through an acquisition of Bonobos. Bizrate Insights analysis found that compared to shoppers on Walmart.com, Bonobos shoppers tend to have higher income and are more likely to have a college degree.
- Digital Commerce 360, “Bonobos lays off staff as Walmart seeks to cut its ecommerce losses.” October 8, 2019.
- Social media is proving to be the fastest-growing driver of ecommerce referrals, with the share of US users making a purchase after discovering the item on social media growing from 23% to 29% in just four months.
- Hospitality Net, “Social Commerce: The Hottest Retail Trend of 2019.” October 9, 2019.
- Business Insider referenced our research on the growing importance of social commerce in its coverage of Adidas’ new Snapchat game, which lets players purchase real-life products directly from the in-game interface.
- Business Insider, “Snapchat partnered with Adidas to launch its first shoppable mobile game.” October 10, 2019.