1,400 Retailer Stores Going to Close their Doors

76%              

As per latest Magna’s predictions, U.S. advertising revenues pulled up by 6% and the growth for ad-supported video streaming is seen in 2023. Magna expects ad revenues to rise by 3.4% to reach $326 billion, with digital advertising growing by 9% and linear advertising declining by 4%. 

81%      

Fourth annual State of eCommerce Discovery report stated that consumer trends based on an analysis of over 2.9 billion global e-commerce sessions revealed that spending was high in jewelry (39%), fashion and apparel (37%). Among mobile users 84% of consumers use mobile device for fashion and 81% to complete fashion transactions. 

60%

As we saw TikTok faces bans in Western areas like Europe, Canada, and the United States despite this, its growth sees nearly 60% of the world's social network users. In Asia-Pacific, TikTok would be the fastest growing social platform and its users would double that of US rival Instagram in 2023.      

56%       

Previously Amazon remained the top product search channel for many consumers, but now it was replaced by social platforms. Jungle Scout survey reported in Q1 2023, 56% of US adults searched about a product on Amazon when compared to the previous 63% in Q1 2022. Nearly 50% of Gen Z adults take reviews from the influencer, and one-third of them purchased the product. 

4G   

Nokia is preparing to launch a 4G internet on the moon later in 2023. this facility will be used within Nasa’s Artemis 1 mission to set up a human presence on the moon and to meet the communications needs for future space missions. 

1400  

Among the retailers about 1,400 stores going to close their doors for the last time this year in the U.S, which include big box companies Amazon, Bed Bath & Beyond, Walmart, Foot Locker and Target. 

109%    

In the US, Cal-Maine Foods the largest egg producer saw revenue growth of 109% to $997.5 million and profit surged 718% due to higher egg prices. As per Reuters, this company controls about 20% of the US egg market and its selling price for a dozen eggs in the last quarter was $3.30 which is more than double $1.61 a year prior.