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Prime Day 2024 shatters records yet again as consumers stock up on essentials: Shoppers spent $14.2 billion online, spurred by significant discounts and the chance to get a head start on back-to-school needs.

Consumers take a cautious approach to back-to-school shopping: To drive shoppers to spend, Macy鈥檚 revamped its Epic Threads brand, Kohl鈥檚 added Limited Too, and Old Navy offered cash back.

But it still isn鈥檛 available at major ecommerce sites like Amazon, eBay, or Walmart. Availability on these platforms will be crucial for Paze to start gaining significant traction. Our take: Paze could transform the digital wallet industry鈥攂ut not for some time given its slow merchant rollout. Still, other wallets like Apple Pay and PayPal will need to prepare for Paze鈥檚 influence.

Go further: Check out our US Amazon Ecommerce Forecast 2024.

The big takeaway: While grocery prices are nearly flat, shoppers are increasingly focused on value. That provided an opportunity for Aldi, Walmart, and others to steal share from Kroger.

Ecommerce will account for 35% of all back-to-school shopping this year: That鈥檚 a massive shift from the 23% share it accounted for prior to the pandemic as consumers embrace convenience.

That presents a challenge for smaller retailers that have to determine whether to fully or partially pass the higher supply chain costs to consumers, given that they鈥檙e competing with large importers such as Walmart and Target that have multiyear contracts with carriers to lock in below-spot market prices.

This article was contributed by Walmart Connect.

Without those revenues, the two companies now face a more challenging path to growth as more shoppers seek out cheaper alternatives like Walmart or turn to the convenience of Amazon. Kroger is in a better position than Albertsons, given its thriving private-label business, strong loyalty program, and fast-growing retail media arm, which is on track to grow at least 20% this year.

When retailers allow non-endemic brands to advertise, it benefits both sides. 鈥淩etailers can further monetize their data, while non-endemics, who have an appetite to expand their reach, are able to leverage that data,鈥� our analyst Sarah Marzano said on an episode of the 鈥淏ehind the Numbers: Reimagining Retail鈥� podcast. Here鈥檚 why major retail media players such as Walmart and Home Depot have recently opened up their offerings, along with three best practices to boost performance.

Our latest analysis of 12 companies in Latin America unpacks key trends in the region鈥檚 retail ecommerce during H1 2023. This will provide retail and marketing professionals with insights into the current landscape, company developments, and what trends to look out for in 2024.

Digital technologies are reshaping customers' in-store payment experience. Here鈥檚 what payment providers must know about in-store payment digitization trends.鈥�

Walmart sees growth opportunities regardless of the macroeconomic environment: The retailer looks to boost its international sales, improve its digital presence, and expand its retail media business.

Walmart acquires Vizio. In February, Walmart announced it would acquire TV manufacturer Vizio for $2.3 billion in a move currently under Federal Trade Commission review. The Vizio acquisition would marry Vizio鈥檚 connected TV (CTV) technology with Walmart鈥檚 consumer data.

On today's podcast episode, we discuss how retail media is meeting the demand for full funnel campaigns, what folks are building to help with measurement, and how in-store audio can upgrade the experience. "In Other News," we talk about whether there is enough money to go around in retail media and why performance marketers are shifting their priorities to brand building. Tune in to the discussion with our analyst Sarah Marzano and Ryan Mayward, SVP of retail sales at Walmart Connect.

Ryan Mayward, senior vice president of retail media sales at Walmart Connect, shared three ways retail media is evolving and how Walmart is keeping up on our Reimaging Retail podcast.

They're building a gen AI powered shopping assistant. They relaunched their No boundaries private label Targeting Gen Z digital shelf labels, expanding their premium beauty assortments, launching Walmart Realms, a 3D virtual shopping, everything. Walmart is hitting all of the highlights for this month. The. Sara Lebow (12:46):.

Target hopes to take a page from Walmart, while also maintaining the curated feel of its marketplace. Go further: Read our Retail Media Search Forecast and Trends 2024 report.

But the channel鈥檚 growth鈥攁s well as its dominant share of retail media spending鈥攃an largely be attributed to Amazon and Walmart, the runaway leaders in terms of on-site scale. That advantage will keep Amazon and Walmart the first- and second-largest players in the retail media ecosystem for the foreseeable future.

Amazon and Walmart follow a similar playbook: The retailers use exclusive access to events like Prime Day and Walmart+ Early Access to showcase the value of their membership programs.