I think the other key thing, just to point out with our forecast, our forecast excludes a few things such as travel and event tickets, and there is a lot more data that post-pandemic, people appreciate the idea of experiences and spending money on experiences more and more. It's easier to book those things online.

The metaverse has the potential to disrupt everything from business travel and the future of work to gaming, health and fitness, entertainment, marketing, and education.

We believe this will unleash pent-up commercial activity and reopen borders to international tourism, a vital sector to many regional economies. Even with the arrival of the omicron variant, travel is unlikely to revert to last year’s depressed state.

Customers are resuming nonessential purchasing, especially in travel and entertainment (T&E), which is critical for credit card volume. Amex’s T&E billed business was up 124% annually in Q3 2021, though it remained below pre-pandemic levels. Despite increased spending, credit card behavior is changing.

Plus, some research examining the cost of telehealth doesn’t include savings realized by employers and their workers from not having to travel or take off work. Our take: The debate over telehealth’s impact on healthcare spending is still very much TBD. We believe the greatest value of telehealth is not that it’s a huge cost saver. Here’s where telehealth proves its worth:.

And any excess funds are more likely to be funneled to services like travel and dining out over items like televisions and furniture. How retailers can respond: The most pressing question for retailers now is how to encourage value-conscious shoppers to spend at a time when they feel increasingly stretched thin.

And the proliferation of BNPL entrants—many of which target specific sectors like travel or healthcare—may exacerbate concerns that consumers could inadvertently fall into unmanageable debt. This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry.

What once was mainly a service for fashion and beauty is now available for travel, dining, and entertainment. BNPL adoption is increasing across merchants and age groups. Expect a “holiday hangover” in the first quarter. “There’s going to be a bit more of a reckoning next year,” Canaves said.

Issuers may want to pivot on travel and non-premium segments, emphasize payment flexibility, and add money management tools to support consumers and minimize their losses. This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.

There’s also a broader shift in spending as a sizable segment of consumers are eager to eat out and travel: Spending on food services and accommodations rose 13.5% in Q2—a marked increase from 5.2% in Q1, per BEA.

Many of the retailers that thrived—including those in apparel (Nordstrom, Macy’s, Express), activewear (VF and Deckers), and beauty (Ulta Beauty)—benefited from people returning to travel and in-person events who wanted to update their wardrobes and make themselves up.

Nudges at log-in, to finish applications or set a travel notice, or reminders that a bill will be due. Offers to send instructions to the app if a user wants to make a simple transaction. Evacuation alerts and tips on filing insurance claims. An ATM locator that uses geolocation technology to help its peripatetic users.

Automakers such as General Motors, consumer packaged goods manufacturers like Procter & Gamble, and travel agencies including Kayak have all bought ads for the game. But newcomers are also establishing a footprint: More than 30 advertisers will make their Super Bowl debut this weekend. Meta will make an appearance at the game with what will be its first major ad for the metaverse, per Ad Age.

Inflation is expected to continue gnawing at reserves in 2023, along with consumer-related changes in travel and work preferences. Auto: Inflation has driven up the cost of cars and the cost of car repairs in 2022, which causes claim costs to rise. Car accidents are also on the rise. Forbes reported a 7% increase in fatal car accidents in the US between 2019 and 2020.

Discretionary spending in categories like new clothing and travel is still where some consumers are reducing spending to save money, according to a January 2023 survey of US adults by Toluna. When compared wa similar survey from July 2022 by First Insight, consumers in 2023 are still prioritizing healthcare and their financial services by not reducing their consumption.

This report is a guideline to help marketers understand retail media through market size estimates, growth projections, and analysis of the complex landscape of buyers, sellers, and intermediaries.

The big takeaway: Even as consumers cut back on physical goods, they’re spending more on out-of-home experiences like travel and dining out. That’s a good sign for Coca-Cola and Unilever, both of which have strong away-from-home businesses, but growth will be difficult to sustain once consumers burn through the last of their pandemic savings and interest rates go up.

Parenting and travel influencers also had a high percentage of problematic posts, according to the report. The problem: In Australia's self-regulated advertising system, advertisers must disclose commercial agreements and label content as ads. However, the ACCC notes that influencers may lack motivation to comply, as their appeal often hinges on authenticity.

BNPL is moving into new sectors, with grocery, healthcare, legal services, and travel ripe for gains. Major retail partners like Amazon are also embracing the tech. And in-store penetration is on the rise thanks to physical and virtual card growth. New entrants could improve accessibility. Apple and Walmart will reportedly enter the space this year. BNPL threatens credit cards.

Google’s Search gains: Last year, sales attributed to Google Search ads grew sharply during the first half of November but then slowed over the Cyber Five as consumers resumed pre-pandemic holiday travel patterns. This year, however, the opposite happened:.

Forcing employees to come back to the office at a time of rising inflation could force companies to reimburse for travel expenses, raising employers’ budgets at a time of great uncertainty. The return-to-office movement aside, many employers see the potential to hire from a much wider talent pool as a major advantage of remote work.

Consumers stuck inside are unable to support local stores and restaurants, while travel restrictions have hit the hospitality industry hard. Businesses face lost revenues due to shutdowns and higher commodities costs, which have lowered their margins significantly and made it more difficult to operate.

To put it in perspective though, over $200 billion in ecommerce sales in the US is still a big deal, especially when considering that the larger a number gets, the harder it is to achieve double-digit growth, said Michael Klein, global director, industry strategy and marketing for retail, travel, and consumer goods at Adobe.

More than half of US adults surveyed by Ipsos in August said they cut back on discretionary spending, such as dining out and travel. Many even skipped medical treatments and home and auto repairs.

Spending less time waiting for a visit was most important to Gen Xers (ages 41 to 56) and boomers alike, as was travel time to appointments. Younger generations (Gen Zers and millennials) liked the ability to make an appointment quickly via a telehealth service. Cost was also cited by more Gen Zers and millennials than by Gen Xers and boomers.