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However, some companies (like beauty brand Coty) started bringing their licensed products in-house, which could mean EssilorLuxottica loses out on those sales. It also adds to EssilorLuxottica鈥檚 own brands, which are more profitable, said Canaves. 鈥淲ith licensed brands, EssilorLuxottica has to share the revenue from sales as royalties and they have to contribute to marketing those products,鈥� she said.

The new normal: We expect China鈥檚 ecommerce growth to remain in the single digits through 2026. That type of modest growth is forcing companies to adjust their strategies from long-term bets to short-term profits. For example, JD.com is shuttering its Indonesia and Thailand retail ecommerce sites as it shifts focus to supply-chain and logistics services.

Brands like Rare Beauty and e.l.f. Beauty are deepening their ties to TikTok Shop, and TikTok remains one of the top three social media platforms by ad spending. The benefits of TikTok as a search platform鈥攊ts opportunities for organic product discovery and influencer marketing鈥攃an be replicated to an extent by other social platforms.

A consumer who bought a moisturizer may be served related products to complete the beauty regimen. Someone who purchased jeans may be served the same jeans in a different wash. A shopper who purchased a dress is probably less likely to buy the same thing in a different color, but could be served a handbag that complements the dress.

It's that shopper that they're losing. The random teenager, Alpha, Gen Alpha or Gen Z, who's going into the store every once in a while when they get pocket money from their parents, I think that's not where the money is going to be. It's the repeat purchasers, which is why they were trying to do the value meal.

But the other side of it, which I think is probably the bigger piece, is this sort of expanded consideration set that Gen Z shoppers are more likely to be in the store looking up ratings and reviews, getting more detailed product descriptions, seeing if they can get a better deal on the product by going on Amazon or another e-commerce channel.

Albertsons, Costco, and Instacart are enhancing their retail media offerings. TikTok Shop reached a $1 million livestream. And three-time consecutive first place winner Walmart is developing immersive ways to shop and catering product lines to younger shoppers. Here鈥檚 our Unofficial Most Interesting Retailers List for June 2024.