| INSIGHTS

Gen Z, with its unique shopping habits, is reshaping the US retail landscape in significant ways.

From driving the resurgence of brands like New Balance to utilizing social media as a primary search tool, their influence is undeniable. As we dive into the shopping carts of today's young Americans, we uncover essential insights into the major retail trends shaping 2024.

Who exactly are Gen Z, and how do they shop? These ambitious, financially conscious individuals prioritize savings and are 18% more likely to browse end-of-season sales. They are also increasingly turning to online shopping, with 56% preferring it over in-store visits, indicating a sustained shift in consumer behavior post-pandemic.

Key Gen Z Retail Trends in the US:

• They're investing in home improvement, driving visits to stores like HomeGoods and Home Depot.

• Embracing pet ownership, reflected in increased purchases of pet accessories and grooming supplies.

• Loyalty programs are gaining traction, with a 15% YoY increase in program memberships, particularly influencing travel choices.

These trends underscore the importance of understanding and catering to the preferences of Gen Z, a demographic with growing purchasing power and unique shopping behaviors.

| NEWS

Retail

• Body Shop shuts down US operations

• Dollar Tree to close nearly 1,000 stores

• Journeys to accelerate new products, store design and key initiatives, despite store closures

• Kohl’s announces new Babies R Us collaboration

• New York governor vows to crack down on organized retail theft

• Retailers are increasingly blaming bad weather for weak sales

Ecommerce

• eBay automates “Offers to Buyers” discounting tool

• Owner of Overstock and Bed Bath & Beyond buys Zulily

• Costco ecommerce sales grew 3x faster than total sales in Q2

• NWSL signs up Amazon as retail partner

• Amazon temporarily halts E-commerce expansion in key global markets

• ReturnLogic and Happy Returns partner to optimize eCommerce returns for retailers

Fashion

• Allbirds reports 15% sales drop, taps new CEO, plans store closures

• Outdoor Voices to close all stores to focus on online sales only 

• On’s Co-CEO says Paris Olympics will help grow brand awareness

• Adidas revenue dropped in ‘23 due to loss of Yeezy line

• Vans layoffs continue with top executives and long-term employees

| EVENTS

Mar 17-20 - Shoptalk (rsvp)

Mar 20 - Turn Shoppers Into Brand Advocates (rsvp)

Mar 27 - Consumers Want Meaningful Content. Can Brands Deliver? (rsvp)

April 23 - 25 - Stripe Sessions (rsvp)

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