Video version can be viewed here

Takeaways

Amazon Prime Day saw a significant increase in consumer spending compared to previous years.

Retail media plays a crucial role in helping brands get noticed on Amazon's marketplace.

Consumers are increasingly focused on basic needs rather than luxury items during shopping events.

Retailers are managing prices strategically to absorb costs and maintain consumer interest.

Membership programs like Amazon Prime and Walmart Plus are becoming essential for retailers.

Customer service quality is a key differentiator for retailers in a competitive market.

The trend of comparison shopping is growing among consumers, especially between Amazon and Walmart.

Retailers are leveraging technology and AI to improve efficiency and customer experience.

The impact of tariffs on consumer prices is a concern for retailers and consumers alike.

The future of retail may see tiered membership programs to cater to different consumer segments.

Chapters

00:00 The Dynamics of Prime Day Discounts

07:27 Retail Media and Brand Visibility

09:37 Innovations in Delivery: E-bikes and Instant Needs

11:59 Consumer Behavior: Shifts in Purchasing Trends

14:35 Retail Strategies: Managing Prices and Inventory

17:28 The Competitive Landscape: Walmart vs. Amazon

20:05 Customer Service: The Key to Retention

23:06 The Future of Grocery and E-commerce

25:49 Membership Models: The Next Frontier

31:08 Final Thoughts and Predictions

This is a video episode which you can watch here.

Takeaways

• Feinman transitioned from Bloomingdale's to Goodwill for a mission-driven role.
• Goodwill's technology was outdated, requiring significant upgrades.
• AI has transformed Goodwill's e-commerce operations, increasing efficiency.
• The demographic of Goodwill shoppers has shifted towards younger consumers.
• Goodwill uses data analytics to optimize store locations for donations and sales.
• E-commerce sales at Goodwill have increased by 25% year-over-year.
• The return rate for Goodwill's e-commerce is impressively low at 0.26%.
• Michael emphasizes the importance of testing new technologies before full implementation.
• Goodwill is exploring international shipping to expand its market.
• Leadership and innovation are crucial for adapting to retail challenges.

Chapters

00:00 This Week in Research: New Reports and Data

01:37 Feinman's Journey in Retail

04:05 Technology Roadmap at Goodwill

08:36 E-Commerce Strategy and Operations

12:19 The Future of E-Commerce and AI Innovations

18:25 Challenges and Opportunities in Retail Technology

25:00 Consumer Behavior and Returns Management

30:48 Innovation and Leadership in Retail

37:15 Conclusion and Future Outlook

This is a video podcast episode, which you can watch here.

Read Coresight Research reports on sustainability and AI in retail.

Visit the Retail Technology Hub to explore reports, data and competitive landscapes on technology.

Takeaways

• BTS is the second largest retail season after winter holidays.
• Total BTS spending is set to total around $38 billion this year.
• Families are focusing more on essential items and discounts for BTS shopping.
• Retailers are adjusting strategies to capture budget-conscious shoppers.
• Economic indicators show mixed signals but overall consumer spending remains resilient.
• New tariffs are significantly impacting retail pricing and supply chains.
• Retailers are diversifying sourcing to mitigate tariff impacts.
• Category-specific strategies are crucial for navigating the BTS season.
• Communication of value and pricing transparency is key for retailers this season.
• Retailers should remain agile and data-driven to adapt to changing consumer behavior.

Chapters

00:00 This Week in Research: New Reports and Data

02:03 The Importance of BTS for Retailers

03:35 Consumer Spending Trends and Categories

07:12 Economic Indicators and Consumer Behavior

11:51 Impact of New Tariff Regime on Retail

20:53 Retail Strategies Amid Tariff Challenges

24:08 Category-Specific Retail Strategies

34:11 Final Thoughts and Future Outlook

Check out the Coresight Research US Back to School series of reports to dive into US consumers' shopping expectations for the BTS season in more detail.