Trendwatch
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Trendwatch
Marketers tasked to do more with less as budgets dip
Marketers across industries have less budget to work with in 2024 compared with 2023, according to a newly released survey of 395 global chief marketing officers by research firm Gartner. Marketers report their 2024 budgets dropped to 7.7% of the company’s revenue, compared with 9.1% in 2023, and 9.5% in 2022. Gartner surveyed marketing decision […]
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David’s Bridal: loyalty program members spend 30% more than average shoppers
Three million shoppers have said “I Do” to becoming members of David’s Bridal Diamond loyalty program — just a few years after it launched in late 2020. Average sales and transactions by loyalty members are 30% higher than the company’s typical shoppers, Kelly Cook, president of brand, technology and finance told attendees at the Retail Innovation […]
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Adidas sells a $20,000 virtual necklace in Roblox
Sporting goods and apparel brand Adidas recently sold a digital necklace in the online gaming platform Roblox for 2 million Robux, or roughly $20,000. This news highlights how brands connecting with young consumers in the metaverse with virtual fashion is here to stay, said Vanessa Mullin, director of games, metaverse and social at real-time engagement vendor […]
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Target slashes prices, reports sales decrease
Target will lower the price on 5,000 of its frequently purchased items across its assortment within the next few months, the retail chain announced May 20. Target said it already reduced the prices on 1,500 items. The mass merchant lowered prices on products including milk, meat, bread, soda, fruit, vegetables, snacks, yogurt, peanut butter, coffee, […]
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Ad dollars flow in for Walmart in Q1
Retail chain behemoth Walmart reported its revenue increased 6% year over year for its fiscal first quarter 2025 ended April 30, and its U.S. ecommerce sales increased 22% year over year. Walmart also reported that its global advertising business grew 24%, which includes a 26% increase for its U.S. advertising segment called Walmart Connect. This […]
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Retailers’ LGBTQ marketing campaigns under scrutiny
Retailers Best Buy, Target and Levi’s are receiving more scrutiny over their LGBTQ-themed marketing and public relations campaigns, according to a Wall Street Journal article. Conservative groups are increasingly asking company shareholders to reevaluate these campaigns. Historically, shareholders have proposed measures that advocate social issues, such as sustainability and racial justice. A vote on these […]
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Paid search drives largest share of online purchases so far in 2024
Paid search was the largest driver of online sales for retailers so far this year, with 28.2% of online sales Jan.1-April 30 directly attributed to this channel, according to new data from Adobe Analytics. Direct web sales were the second largest driver, with nearly one in five purchases initiating in this way, followed by: This […]
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Ad for lactation cookies in Times Square pulled
An advertisement for cookbook author Molly Baz’s lactation cookies was pulled down from its Times Square spot earlier than expected. The advertisement promoted breastfeeding resource portal Swehl and its partnership with Baz’s cookie recipe that may increase breastfeeding milk supply. The image featured Baz holding the cookies to cover her chest. Media agency Clear Channel […]
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Gap hires new chief marketing officer
Apparel brand Gap Inc. hired Fabiola Torres as its new global chief marketing officer. Torres previously held executive marketing roles at PepsiCo, Apple and Nike. Torres replaces Mary Alderete, who left the the chief marketing role in November 2022, after nearly three years. Read more about Gap’s executive change here.
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Best Buy and CNET combine ad inventory
Consumer electronics retailer Best Buy and product review publisher CNET are combining their ad inventories, the companies announced at the end of April. This will allow advertisers to purchase ads on Best Buy’s retail media network, which displays ads on BestBuy.com, in its app or in stores, alongside relevant CNET content, such as a product […]
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