Digital commerce topped $1 trillion in 2022

Author

Stephen Babcock
February 01, 2023

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Making good on projections issued throughout the year, Comscore reported that U.S. digital commerce spend crossed the trillion-dollar mark for the first time in 2022, posting 21% year-over-year growth. The growth of mobile commerce continues to be a key driver of this trend.

The impact of a gift card sale goes beyond a single transaction, Fiserv found. Many consumers spend $59 more than the value of their gift card. Plus, they can be leveraged to encourage repeat purchases, and help with marketing by putting a retail brand right inside a consumer’s wallet. It gets at key retail elements that are more important in a tough economy: Loyalty, brand and cashflow.

This week, one of the world’s largest consumer goods companies hires a new CEO, while a luxury ecommerce platform taps a successor to its founder. Plus, we’ve got news on top leadership hires and promotions at Pacsun, West Elm and Calvin Klein Americas.

The Conference Board reports that consumer confidence declined in January. But, there’s nuance. The consumer view of the present situation improved, yet the outlook for the next six months declined. Equally, people are holding steady with plans to buy larger items such as appliances, but feeling less willing to purchase a home.

After a quick buildup of networks among retailers over the last two years, advertisers will engage in retail media in a bigger way in 2023. That will bring more opportunities to introduce new types of content and do more with data. At the same time, it will also require creating new forms of measurement, and building new kinds of relationships between retailers and advertisers. – Grocery Dive

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