Cart abandonment is still a pervasive issue; on average, millennials ditch five carts monthly, while Gen Z shoppers abandon four, with brand site browsers exhibiting higher abandonment rates than those on marketplace platforms. According to PYMNTS, 70% of consumers consider the availability of their preferred payment method a main factor in their choice of online stores - and options vary hugely across different demographics. For instance, credit cards are favored by around 50% of baby boomers, seniors, and Generation X shoppers, while debit cards are preferred by 58% of Gen Z consumers. Younger shoppers are also bigger fans of buy now, pay later. Read the full report here.

According to a recent survey conducted by Glossy and Modern Retail, IG continues to hold the top spot for brands looking to maximize their marketing investment; despite the rise of TikTok as a platform capable of generating viral product sales, IG still reigns supreme in terms of branding and driving conversions. 69% of respondents identified IG as the best social channel for branding, whilst TikTok trails behind at 15%. IG commands over 75% of overall marketing spend while TikTok takes just 25%. And that latter figure will likely drop over the coming months, in the face of TikTok's proposed US ban. Read the full story here.

According to the latest research, consumers desert their online carts an average of eight times per month. The phenomenon varies among generations, with millennials and Gen Z exhibiting higher abandonment rates compared to older demographics. While younger shoppers tend to treat online browsing more casually, older consumers make more deliberate purchasing decisions. Product category also plays a role, with clothing and accessories experiencing the highest abandonment rates, while essential items and big-ticket purchases see lower rates. So how can we address the fundamental issue? Simplify your payment process to enhance the overall customer experience. See how to do it here.

Google just launched 'Shopping Graph', aiming to provide users with a "more personalized and efficient" shopping experience. With billions of dynamic product listings updated hourly, Google aims to address the issue of choice overload through a) style recommendations - this feature allows users to rate apparel and accessories, refining search results in real-time to match their preferences and b) AI image generation - this tool helps users visualize apparel by generating photorealistic images based on detailed descriptions and matching them with shoppable options. Additionally, Google's virtual try-on tool allows shoppers to see how clothes look on models of various sizes, skin tones, and body types. Overall, these enhancements are helping to improve the pre-purchase experience, reduce uncertainty, and minimize returns, which cost brands billions annually. Read the full story here.

Zulily, the once-defunct flash-sale site, finds a new corporate home with Beyond Inc., the reborn entity of Overstock.com. Beyond recently acquired Zulily's intellectual property assets for just $4.5 million, merging it into its off-price Overstock division. While no relaunch date is set, Beyond's swift revival of Bed Bath & Beyond hints at a speedy recovery. Marcus Lemonis, Beyond's executive chairman, sees this move as a "strategic reinforcement of their commitment to the off-price market, doubling down on customer growth". Zulily's 18 million customers will expand Beyond's extensive customer base, leveraging direct access and detailed purchase histories for personalized marketing. Despite challenges, Lemonis remains optimistic, citing significant synergies and opportunities for growth. And, overall, Zulily's fashion focus complements Overstock's home furnishings, promising a strategic fit within Beyond's expanding portfolio. So it's a perfect match? Read the full story here.

Reddit is embracing artificial intelligence to streamline its advertising process. This move, unveiled on Thursday, involves employing a chatbot powered by AI to generate ad headlines tailored to Reddit's distinctive user base. The AI technology, integrated into Reddit's ads manager, aims to automate ad creation and bidding while catering to the platform's unique community dynamics. By leveraging AI, Reddit seeks to optimize ad performance and enhance user engagement, as part of a broader effort to overhaul its advertising infrastructure. This includes features for goal-based campaign optimization and improved budget management. While Reddit's unconventional community culture may pose challenges for some brands, the introduction of AI and automation tools could lower entry barriers and attract smaller advertisers. The platform aims to provide tailored support and guidance to advertisers, emphasizing the uniqueness of each advertising campaign. Beyond advertising, Reddit has strategic plans for AI integration, including a recent partnership with Google to leverage its data for AI training purposes. Read the full story here.

Lululemon's stock took a dive on Friday following the release of lackluster guidance and news of sluggish sales in its primary market. Despite reporting earnings that exceeded expectations for the holiday season, the company revealed a slowdown in growth in North America. Like many of its competitors, Lululemon is contending with uncertain consumer demand and a decrease in discretionary spending, particularly impacting the apparel sector. The company also faces increasing competition in the women's athletic apparel market, with newer players like Alo Yoga and Vuori vying for market share. To differentiate itself, Lululemon is expanding its product offerings, including a focus on footwear and its men's business.  Despite these challenges, Lululemon remains optimistic about its long-term growth prospects, particularly in international markets and new product categories Read the full story here

Liquid Death is experiencing a surge in demand for its products, sparking interest from investors. The company recently announced a valuation of $1.4 billion, a significant increase from its previous valuation of $700 million during its last funding round in October 2022. This growth is fueled by strong demand from retailers for Liquid Death's new sparkling water and iced tea flavors set to launch this spring. Mike Cessario, the founder and CEO of Liquid Death, highlighted the brand's rapid expansion across various beverage categories, positioning it as a leader in water, flavored sparkling water, and iced tea. The company's latest funding round, described as oversubscribed and strategic, reflects its commitment to capitalizing on its momentum. Liquid Death has been actively diversifying its product offerings beyond its original water line, introducing flavored sparkling water, iced tea, and most recently, Death Dust electrolyte drink mix. The company's aggressive expansion strategy includes plans for an IPO later this year, with Goldman Sachs reportedly enlisted to assist in the process. Additionally, Liquid Death appointed former White Claw executive Stephen Ballard as its chief commercial officer to oversee sales, distribution, and international expansion efforts. Read the full story here.

The PYMNTS Intelligence report, conducted in partnership with Banyan, explores consumer preferences and behaviors related to loyalty and rewards programs. Surveying over 2000 US consumers, the study found that Gen Z and millennials lead in adopting product-specific card-linked offers, with 23% and 22%, respectively, having used such programs. These findings suggest that personalized card-linked offers, driven by item-level data, have the potential to boost store card usage and engage younger shoppers more effectively, providing valuable insights for brands aiming to tailor incentives to specific consumer segments. Read the full story here.

Lululemon is advancing its sustainability efforts by collaborating with Samsara Eco on a patent-pending technology to extract nylon 6,6 from end-of-life textiles. This breakthrough addresses the recycling challenges associated with nylon 6,6, a commonly used plastic in the textile industry. The initiative aligns with Lululemon's 2030 goal of utilizing "preferred materials and end-of-use solutions" for all its products. The activewear brand has been exploring alternative materials, introducing its first plant-based nylon products in April. While Lululemon progresses towards sustainability goals, it faces accusations of greenwashing, prompting environmental advocacy group Stand.earth to file a complaint with the Competition Bureau Canada. Read the full story here

Impressing investors with its remarkable 85% sales growth during the holiday quarter, E.l.f. Beauty raised its guidance for the third consecutive time. The company exceeded Wall Street expectations, reporting adjusted earnings and revenue of $270.9 million. Demonstrating robust confidence, E.l.f. Beauty now projects net sales between $980 million and $990 million for fiscal 2024. CEO Tarang Amin expressed optimism regarding sustaining this momentum and outlined ambitious plans to double the market share in color cosmetics over the next few years. Despite major sales from prominent retailers such as Walmart and Target, E.l.f. Beauty actively focuses on enhancing its digital presence. Notably, online sales accounted for 24% of revenue during the quarter. The company's strategic move into TikTok Shop and the successful launch of its Roblox experience further underscore its commitment to digital innovation. Read the full story here.

Mobile virtual network operators (MVNOs) have been around since the ’90s (it’s probably not widely known that some of the best-known mobile services are in fact MVNOs). TextNow, with 10 million users, is the only ad-supported MVNO in the U.S to offer free phone service. The company is leading the charge of a new mobile revolution by combining free phone service with strategic advertising opportunities for brands to connect with this valuable but often elusive demographic. Basically, the research suggests that Gen-Z are aware of their purchasing power, many have decided that they don’t want to pay for phone service ever again and that they are ready for brands to pay for it instead; they will listen and dance with the advertiser that’s giving them the ultimate form of freedom: communication at zero cost. How does it all work? Through push notifications, sponsored multimedia texts, video, free trials and exclusive offers. Ad Age has the full article here