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Scarred by the 2008 Recession and COVID, 48% of Gen Z Frequently Shops at Discount Stores

Retail TouchPoints

That sense of unease is to be expected from a cohort shaped by both the 2008-2009 Great Recession and the COVID pandemic, and it’s had a big impact on their shopping choices: nearly half ( 48% ) say they shop the most often at discount/off-price retailers, and 25% frequently patronize dollar stores.

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Buy Now, Pay Later: The Gen Z Alternative to Credit Cards

Retail TouchPoints

This generation has taken to this payment option faster than any other, but looking at their history it is easy to see why. Gen Z has grown up with a steady decrease in the use of physical payment, coupled with major advancements in fintech. Late or missed BNPL payments have their own consequences. with Klarna.”.

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As Gen Z Enters Prime Spending Years, Brands Sharpen Their Pitch

Retail TouchPoints

They’ve been shaped/scarred by not one but two global economic traumas — the Great Recession of 2008-2009 and the COVID pandemic — and they’ve grown up with social media playing an increasingly large (and loud) role in shaping culture, including how these consumers shop, research and purchase products and services.

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Cryptocurrency: The good, the bad and the ugly

Inside Retail

In 1937, Coca-Cola introduced its first coin-operated vending machine in the US, selling a bottle of Coke for a nickel. Cryptocurrencies have evolved beyond their origin as a payment system for a niche group of people who didn’t trust the global banking system. Bitcoin was the first major cryptocurrency, created in 2009.

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Net-A-Porter to exit China: What’s the future for multi-brand luxury platforms?

Inside Retail

The online platform is expected to cease operations from March next year. The closure of their China operations likely stems from an inability to sustain further financial losses.” Alibaba provided the joint venture with technology infrastructure, marketing, payments, logistics, and other technology support.

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Walmart to recruit U.K. sellers to U.S. online marketplace

Mass Relators

Sellers approved to join the marketplace will be offered the services of a dedicated onboarding team, as well as access to powerful tools and services to help them rapidly scale up across the Atlantic, including the opportunity to get their goods to U.S. shoppers each month. customers within two days. The move to embrace U.K.

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Facebook Pay is Getting a Name Change

Small Biz Trends

Mark Zuckerberg recently announced that his business empire Meta is changing the name of payment app Facebook Pay to Meta Pay. All of your existing Facebook Pay information will still be there in the rebranded payment app, including account details, payment method and other settings. Facebook Pay is Getting a Name Change.