Resale Revolution: How the Secondhand Market is Reshaping Retail's Future
The US secondhand apparel market is projected to reach $74 billion by 2029, driven by digital innovation and changing consumer preferences. Major retailers and luxury buyers are embracing resale as technology streamlines the experience and economic factors accelerate adoption.
Major U.S. Retailers Announce Historic Wave of Store Closures Amid Digital Shift
Over 7,100 retail locations are set to close in 2024, marking a 69% increase from the previous year and the largest surge since the pandemic. Family Dollar, CVS, Big Lots, and Walgreens lead the closures as traditional retailers struggle against online competition.
Grubhub to Pay $25M Fine Over Deceptive Fees and Restaurant Listings
Food delivery giant Grubhub agrees to a $25 million FTC settlement for misleading practices, including hidden fees and unauthorized restaurant listings. The company must implement major changes to its business practices while facing potential liability of up to $140 million.
TikTok Shop Emerges as Amazon's New Retail Rival Despite Ban Threat
TikTok Shop's explosive growth is attracting retailers and Amazon sellers with its unique blend of social commerce and entertainment, projected to reach $50B in sales this year. Despite looming regulatory challenges, sellers are embracing the platform's lower fees and seamless shopping experience integrated into its addictive content feed.