In a fast-paced, ever-changing world, the consumer goods industry remains at the forefront of innovation. As technology advances and consumer preferences evolve, businesses in this sector must stay ahead of the curve to remain competitive and relevant.

The retail industry has always been dynamic, constantly evolving to meet the ever-changing demands of consumers.

Recent innovations such as in-vehicle payments, with the integration of artificial intelligence (AI) and 5G connectivity in automotives, are transforming the user experience.

The COVID-19 pandemic greatly influenced consumer behavior for the last two years, but in 2022, the central concern will increasingly be the cost of living, according to research cited in a recent podcast by Mintel titled “The Impact of Inflation on the Cost of Living and Consumer Behavior.”

International trade data can represent an accurate barometer of the state of the health of the global economy, even more so in the current extraordinary circumstances, that require up-to-date monitoring for companies involved in international business.

There is no doubt the holiday season is a critical time for consumer spending, but retailers face unprecedented challenges in 2020 due to the impact of the coronavirus. To drive revenue and adapt to shifting consumer needs, retailers will be forced to rewrite their traditional playbooks in more ways than one.

In June 2019, Illinois became the eleventh U.S. state to legalize recreational (i.e., adult use, nonmedical) marijuana, and just the second in the Midwest after Michigan to clear the way for adult marijuana retail markets to form. Furthermore, in July 2019, the Ending Federal Marijuana Prohibition Act received a historic first hearing in congress – underscoring that legal weed is no longer just a west coast phenomenon.

Update: As of January 16, Sears and ESL Investments appear to have reached an agreement to keep the company in business and stores open — for now. Be sure to subscribe to our blog for ongoing insights and analysis on new developments in this story.

Is this the end of the road for one of the oldest retailers in the US?

Tattoos and body art in the U.S. have soared in popularity lately, especially among Millennials, fueling an industry comprised of 20,000 tattoo parlors or studios. The industry, which also includes body piercing and tattoo removal, is estimated to be worth $3 billion, and is growing strongly.

Matchmaking and online dating has become big business, with dating services estimated to be worth $2.5 billion in 2015 and forecast to grow 5.1% per year to $3.2 billion by 2020.

The dating industry consists of much more than just dating websites, although these get the bulk of the media attention and account for 70% of the industry’s revenues. America’s 124 million singles are using mobile apps more often, but traditional services like matchmakers and dating coaches are also doing well.