After Antenna reported that Netflix is losing subscribers for the first time in a decade, some saw it as a sign that streaming services are on the verge of decline. But the data tells a different story. Premium streaming subscriptions have grown nearly 25% year-over-year, with 37.4 million new subscribers in Q1 2022. At the same time, streaming services lost 29.8 million subscribers — suggesting that customers are ‘churning’, or bouncing from one service to another.
A volatile economic environment has caused large swings in performance for many companies, making it more important than ever to understand the macroeconomic trends affecting all merchants. In today’s Insight Flash, we highlight several analyses that are part of Consumer Edge’s unique suite of macro products, looking at y/y growth in total spend, spend cut by demographics, and which industries and subindustries are most impacted by spending trends in a particular demographic.
We looked at year-over-year (YoY) and year-over-three-year (Yo3Y) visits to BevMo!, Total Wine & More, and ABC Fine Wine & Spirits to understand where BevAlc (Beverage Alcohol) visitation patterns stand as we head towards the second half of 2022. BevAlc foot traffic broke records in 2021, as many Americans turned to alcohol to cope with the pandemic stress. Consumers visited BevMo!, Total Wine & More, and ABC Fine Wine & Spirits in droves to purchase the beers, wines, and spirits they could no longer get at bars and restaurants.
Big names in tech like Peloton, Netflix, and Coinbase, who benefitted from a rise in demand during the pandemic, have recently announced major layoffs. Is this a mere blip or should we be expecting a wave of layoffs on the horizon? By using the latest data from the WARN Act, which requires companies to provide notice of at least 60 days to the DOL in case of a large layoff (50 employees or more), we can see what lay-offs are coming soon.
Amazon has announced that this year’s Prime Days will be held on July 12th and 13th. We dove into data from past Prime Days to understand what this year’s online retail holiday may have in store for Amazon, Target, Best Buy, and Walmart. Amazon Prime Days have been around since 2015, and the online retail holiday seems to get bigger every year.
Not all Big Macs are equal. Well, that’s when it comes to Big Macs you order online from any of the food delivery apps. They may all seemingly look and taste the same, but when you press the “order” confirm button, they will arrive at different times. More importantly, you will be charged different prices depending on which delivery service you order your Big Mac from.
Our latest report unveils the State of Food & Drink on mobile with unprecedented granularity. Powered by App IQ, we dive deep into 7 subgenres including Food Delivery & Carryout, Ultrafast Delivery, Grocery Delivery and more. Our State of Food & Drink report uncovers nuanced insights publishers need to succeed in the new mobile-first food & drink landscape across 20 key markets.
As online and brick-and-mortar giants like Amazon, Walmart, and Target continue to expand their health and wellness offerings, the traditional pharmacy sector has had to adapt. We took a look at three of the biggest players in the market – CVS, Walgreens, and Rite Aid – to see how they are reinventing themselves in an increasingly competitive space.
On June 10, the US government removed a restriction that travelers flying in from other countries needed to show a negative COVID-19 test to enter the country. This restriction was a potential barrier not only to foreign tourists, but to US citizens who were hesitant to travel abroad and risk getting stuck in a foreign country. In today’s Insight Flash, we look at spend growth on international airlines for US travelers and US airlines for UK travelers to determine the extent to which the policy change has boosted foreign travel.
Costco, BJs and Sam’s Club mobile app downloads are expected to close out Q2 at a growth rate of 74% year-over-year, as shoppers commit to membership clubs for inflation relief. This is the highest YoY growth among clothing, fast food and home improvement retail categories. The user sessions correlation charted below indicates why: combined mobile sessions for the three store apps reached an all-time-high when the national gas average reached $4 per gallon in March.
Instant delivery companies proliferated early in the pandemic, especially in urban markets like New York City and Boston. But for many of these companies, their life cycle has also been ultrafast. In recent months, instant delivery competitors including Jokr, Buyk, and Fridge No More have permanently shut down or ceased operations in the U.S. However, one of the more established rapid delivery companies, Gopuff, is continuing to expand into new domestic and international markets.
Even with gas prices rising, people have the travel bug. New installs and monthly active users of car rental apps in the U.S. hit all-time highs in May. MAUs are projected to be higher in June but new app installs are expected to fall slightly. Clearly, there's a lot of pent up demand as people could not or did not want to travel in 2020 or 2021.
Boot Barn, a western-focused shoe and lifestyle chain, has been one of the most successful retailers in the apparel and footwear space in recent years. We dove into the data to analyze its 2022 performance and see how the brand’s expansion is affecting its foot traffic. The footwear industry demonstrated surprising resilience over the pandemic, and Boot Barn is one of the best examples of this category’s success.
Amazon Prime Day is returning this year on July 12-13, and previews of the online sales have consumers excited to take part in _Amazon’s_ biggest shopping day of the year. Although _the company_ has expanded the shopping holiday to new markets this year, US sales are still predicted to account for over 60% of all Prime Day purchases as American consumers search for deals amidst rising costs and ongoing inflation
After months of pressure from activist hedge funds, national department store chain Kohl’s Corporation (NYSE: KSS) announced in May 2022 that it was exploring a potential buyout. The announcement came amid a shifting retail industry in which several big-box retailers like Walmart and Target reported disappointing first quarter results, while some department store companies such as Macy’s Inc (NYSE: M) and Nordstrom Inc (NYSE: JWN) posted strong first quarter earnings and raised their profit outlook.
As Venture Capitalists’ billions are taking over the City of London, France has followed suit, ramping up its open-border immigration policy for workers at tech start-ups. Competition is fierce for becoming the Silicon Valley of Europe: From large cities like Berlin and Paris to smaller ones like Vilnius and Tel Aviv, who is winning the race to become the center for churning out unicorns?
It might be time to get excited about the potential of movie theaters. Even in a period dominated by the strength of streaming services, there is a confluence of trends that just might give this segment a much needed boost. A critical starting point is that when looking at visits to AMC Theaters and Regal Cinemas nationwide, there is a clear recovery trend. Looking at a 2022 ravaged by challenges from Omicron in January to inflation and rising gas prices in the Spring, and yet, the Year over Three Year visit gap was still at its lowest in May.
Last week, Apple launched Apple Pay Later at its annual developer conference. Apple Pay Later allows iPhone and Mac users in the United States to pay for purchases in four payments over the span of 6 weeks, with no interest or other fees. The announcement is big for the new industry. Apple is delving into one of the hottest areas of consumer finance, a service called buy now, pay later (BNPL). Consumers using BNPL can stretch payments for an item over a few weeks or months.
Among the top grocery store apps, user sessions were up 77% year-over-year in May, and reviews mentioning the word "coupon" shot up 75% from April. User sessions began to rise concurrently with food prices since Q3 2021. The record usage is primarily driven by inflation concerns, according to further analysis in a new report today, "Inflated Retail Records". Prior to this year, Top 10 Grocery Store apps peaked during Q1 2020, when lockdowns began and omnichannel shopping became a safety protocol.
The impact of rising inflation and gas prices has reached consumer spending. In May 2022, US retail sales fell by 0.3% relative to April as shoppers thought twice about spending their increasingly tight budget. But while some spending might be down, certain categories are thriving. One of the clear beneficiaries are those companies gaining from consumers “trading down” from higher-priced products and services in favor of cheaper alternatives. To better understand this phenomenon, we looked at year-over-year (YoY) foot traffic patterns for major retail, dining, and hospitality sub-sectors.
