Latest news with #consumerbehavior
Forbes
a day ago
- Business
- Forbes
Shake The Telecom Market. Shape The Network
Consumer Using Smartphone As we cross midway through 2025, the unprecedented economic and competitive challenges in the business world of technology and telecommunications have rocked the boat in house and home for organizations and their consumers. From looming tariffs impacting every corner of the global business landscape to rubber-banding inflation in the U.S. and growing geopolitical tensions, consumer sentiment is impacted monthly, influencing every financial decision. While uncertainty and volatility persist for consumers in the U.S. market, coupled with rising distrust in technology and diluted authenticity, ambiguity continues to rise for business leaders on how to attract, retain and satisfy their customers amongst the madness. With the doom clock ticking for technology providers to address the hurdles ahead of this precarious market, how can organizations keep these threats out of the hands of the customers and communities powering them? How Consumers are Spending Time and Money In retrospect, today's ever-connected world truly began five years ago during the Covid-19 pandemic. What are considered norms today – especially related to digital connectivity around-the-clock – happened seemingly overnight and remains attached to our hips. While our doors, businesses and digital highways are open, the time consumers choose to spend alone and online still reigns supreme. According to a recent State of the Consumer 2025 report from McKinsey, 90% of the more than three hours of free time per week the average consumer has is spent independently, particularly online. While the U.S. market continues to fluctuate, we too must understand that it is largely driven by a sentiment of impatience. The same I-want-it-now mindset that blossomed during the 11 months we remained indoors is not only reshaping retail and e-commerce, but overall consumer behaviors tenfold. Technology has made it tradition to find quick solutions and affordable joy physically, mentally and financially regardless of the complexities or risks at stake, and the 55% of people choosing these routes versus traditional means, according to a recent Accenture Life Trends survey, are more likely to grow as the platforms and capabilities delivering them evolve. Even amongst this migration, more than 60% of consumers are changing their spending habits due to economic uncertainties, per McKinsey, with over half planning to cut back on nonessential spending, purchase fewer items or switch to lower priced brands and products – including our new age essentials like Internet and streaming services. How Service Providers are Responding and Peacocking While spending and overall sentiment continues to trend downward, today's consumer is even more mindful and strategic, and organizations understand the power they hold. Peering down from the provider's perspective, major streaming services like Netflix, Disney+, and Hulu have recently implemented price hikes to their services, making customers re-evaluate their expenses. Additional tactics like password sharing cracked downs are also impacting subscriber numbers across the board, further compounded by factors like consumer content fatigue and plaguing competition. Competitive intensity driven by the influx of promotions, bundles and discounts from streaming services and Internet providers alike are fruitful today. The industry is hungry for another growth spurt, even if that means wiping their diversity, equity, and inclusion programs to get approval from the Federal Communications Commission (FCC) to absorb smaller players surrounding them. However, reviewing the latest strategic approaches from legacy corporations like Comcast demonstrate that there are bolder strategies possible to retain customers and market share backed by real innovation, disruption, and value. In late June, the organization launched an all-new everyday pricing, part of the company's broader convergence strategy to give their customers simple, predictable pricing for up to five years on their fastest Internet services that includes a line of cellular service, Xfinity Mobile, free for a year. Prices for these packages claim to be more affordable than other major providers on the market, and according to a recent Prosper Insights & Analytics survey, pricing and value is the standout driver (30%) for consumers looking to switch their service provider. Prosper - Reasons For Planning To Switch Mobile Phone Service Providers 'With the overwhelming challenges our customers and communities face, if nothing else we have an immense responsibility to be even more transparent to those who rely on our services,' said Christine Whitaker, president of Comcast's Central Division, adding the operator's decision to transform their approaches is driven by 'the growing complexities of today's market, evolving consumer habits and trust.' Optimism, community, and overall business outlook sharply declines when organizations lose their grip on trust from their stakeholders and customers. The 2025 Edelman Trust Barometer Global Report shows that despite the impact of globalization, economic pressures and the techno ecosystem on job security, consumer sentiment and innovation, telecommunications remains one of the top industry sectors trusted globally. Smarter, Savvier Network Capabilities Defining the Next Generation The concept of convergence is not new; we are in fact living in the future of integrated services where Comcast claims to have been leading the charge for thinking beyond today's boundaries and how its capabilities will be the digital lifestyle enabler for innovations yet to come. On the backs of fierce competition, consumer, and economic concerns, building seamless infrastructure for affordable and unrivaled Internet, entertainment and mobile connectivity for homes and businesses is still a top priority – and nearly impossible to conduct manually anymore. Last year, Comcast launched a network virtualization initiative called Janus, making the organization one of the first operators in the world to virtualize and disaggregate the core of its transport network. 'It has essentially supercharged our self-detecting and self-healing network backed by artificial intelligence (AI) and machine learning,' said Lissette Martinez, Vice President of Field Sales & Operations, Comcast Central Division. For communities especially prone to severe weather amongst the growing storm intensity across the U.S., this approach aims 'to help customers have a seamless, end-to-end connectivity experience and never even know if their services get disrupted.' The integration of AI in technology, particularly for telecoms, has become a central tool to delivering superior customer experiences across every touchpoint. The convergence of high-tech like edge computing and AI is expected to fundamentally change how connectivity is delivered. It is not just about faster processing but creating intelligent and responsive networks that can adapt real-time to user needs and environmental conditions. For businesses to anticipate the mostly unpredictable needs of consumers often takes first having the ability to look within years ahead. Creating meaningful value through purposeful innovation requires organizations to get closer to their customers and truly rewire their approaches. As technology grows, evolves, and innovates itself, as do organizations as they continue to enable new capabilities to stay ahead of anticipated trends. And with a telecom market and its customers in search of growth and stability, the best upgrades and value-adds one could hope for are ones you can't see; you just notice that everything is working that much more seamlessly.
Bloomberg
a day ago
- Business
- Bloomberg
UK Shoppers Face Extra £275 Grocery Bill on Higher Food Prices
By and Elliot Burrin Save UK food inflation nudged higher in the four weeks to mid-July as shoppers start to feel the burden of bigger grocery bills at the checkout. Higher prices are set to add £275 ($370) to consumers' annual grocery spend, with shoppers trying to adapt their behaviors to keep costs down, according to market research firm Worldpanel, formerly known as Kantar. Annual price growth rose to 5.2% in the period, compared with 4.7% a month earlier, the highest rate since January 2024.
Entrepreneur
2 days ago
- Business
- Entrepreneur
Why Your Sustainability Strategy Needs to Go Beyond the Checkbox
Opinions expressed by Entrepreneur contributors are their own. Sustainability has transcended its roots in academia, and verbal commitment has become a core strategic priority. In today's market, companies that treat sustainability as an afterthought risk being left behind. Consumer expectations have undergone a seismic shift over the last decade. According to PwC's Voice of the Consumer 2025: Climate Commitments, more than 80 percent of consumers worldwide are concerned about climate change. But awareness alone is not enough. True leadership requires closing the gap between knowing and doing. That demands innovation, operational clarity and a deep understanding of human behavior. Companies that act on this imperative today will be the ones that define tomorrow's standards. Related: What Are the 3 Ps of Sustainability Embedding sustainability into everyday behavior Sustainability is not about choosing between doing good and doing well. McKinsey's research on packaging makes one thing clear. Recyclability is now the gold standard that consumers expect. Big companies are moving beyond check-the-box compliance and hollow marketing slogans, integrating sustainability into their operational DNA. A growing trend is the rise of refillable products and stations, which reshape daily habits by empowering consumers to reuse containers and reduce single-use plastic, turning sustainability into an easy, convenient lifestyle choice. Rooted in the growing trend of eco-friendly living, ATRenew's long-term program, REVIVE initiative, embeds recycling into daily life through partnerships with brands like L'Oréal Paris. These campaigns offer real incentives like cashback or exclusive rewards, making sustainable action both simple and rewarding. While these events are limited in time, they fit into a bigger vision. This proves that long-term commitment combined with smart activation moves the needle. What stands out to me is a shift in mindset among leaders. We are no longer trying to fix isolated problems. We must solve for entire systems. Sustainable innovation now taps into behavioral science, urban planning and social equity. That raises the bar for leadership. It is not enough to build a better product. We need to build better ecosystems. Trust through transparency and shared action As sustainability becomes embedded in strategy, trust emerges as the next frontier. In an era where promises are no longer enough, transparency has become the foundation of trust. The most credible brands understand this and are choosing to show their workings, not just their results. Apple publishes detailed supplier responsibility reports, opening its operations to public scrutiny. And Nike maps out every factory it works with and shares key data on workforce and product lines. These actions emphasize accountability over perfection. The goal is simple: make sustainability verifiable, not just aspirational. What links these leaders is not industry or size, but intent. They see transparency as a shared contract with the world, a way to turn silent processes into visible progress. Deloitte's 2024 report confirms that nearly half of consumers prioritize sustainable purchases despite economic headwinds. This is not a marketing trend. It is a shift in how trust is built. Companies that are willing to be seen clearly are the ones most likely to lead with confidence. Related: Why Nobody's Reading Your Company Blog — and How to Fix It Infrastructure for a sustainable future Scaling sustainability is not just about good intentions. It requires solid infrastructure. In complex industries like electronics, where waste is massive and supply chains intricate, solutions must focus on consumer convenience and operational efficiency. In China, ATRenew has built a national system that connects over 1,800 offline stores with eight regional operation centers. In 2024 alone, this infrastructure enabled the circulation of more than 35 million pre-owned devices, offering consumers a practical path to reuse. Back Market's growth across Europe confirms this model's strength. By building a network of certified refurbishers and assuring quality, they have helped normalize circular consumption. Similarly, Gazelle established early trust in U.S. device recommerce. IKEA has also invested in a circular infrastructure through its Circular Hubs, which operate in stores across Europe and North America. These spaces collect, repair and resell used furniture, giving products a second life while reducing landfill pressure. IKEA plans to expand these hubs globally by 2030 as part of its commitment to becoming fully circular. These examples reflect a broader truth: sustainability can only scale when supported by systems designed for it. A new paradigm for growth Today, growth is no longer just about chasing profits. Real leadership means putting sustainability at the heart of everything we do. Around the world, people expect businesses to be more open and responsible. The companies that succeed will be those that connect purpose with profit, making sustainability an integral part of their business rather than a side project. Success in the future won't be measured solely by money on a balance sheet, but by how strong, impactful and meaningful a business truly is. Leaders must make tough decisions today to prepare their companies for what lies ahead, innovating not just for growth but for the benefit of people and the planet. Sustainability is no longer optional. It's the driving force behind real progress and lasting success in today's world. The future belongs to those bold enough to lead it.
Globe and Mail
2 days ago
- Business
- Globe and Mail
How Walmart is Positioning for Comp Growth Amid Consumer Shifts?
Walmart Inc. WMT is refining its strategy to align with rapidly shifting consumer behaviors. In the first quarter fiscal 2026, Walmart U.S. delivered comp growth of 4.5% driven by transaction improvement of 1.6% and an average ticket increase of 2.8%, as well as strong e-commerce growth. Complementing this performance, Sam's Club U.S. posted a robust 6.7% increase in comparable sales, excluding fuel. The growth was primarily volume-driven, with strength in Member's Mark products. A major driver of this traffic momentum is Walmart's expansion of store-fulfilled delivery, now reaching 93% of U.S. households with delivery in under three hours. In the fiscal first quarter, one-third of Walmart's deliveries were expedited, underscoring the increasing role of convenience in driving customer visits. Membership remains another key growth lever. Walmart+ membership income rose at a double-digit rate. The company's health and wellness category surged with high-teens growth, supported by strong prescription volume and over-the-counter product sales. To reinforce its price leadership, Walmart implemented more than 5,000 price reductions during the quarter. Walmart's strategy reflects a retail model that integrates stores, digital convenience and membership-driven engagement. By prioritizing faster fulfillment, competitive pricing and a broader customer reach, Walmart is positioning itself to drive steady same-store sales growth while adapting to evolving consumer demands in a highly competitive retail landscape. Walmart's Comp Growth Compared With Target and Costco Target Corporation TGT reported a 3.8% decline in comparable sales for the first quarter of fiscal 2025, driven by weaker discretionary demand. However, Target continues to prioritize same-day services, with Drive Up accounting for nearly half of digital sales in the quarter. Target expanded the Target Plus marketplace, growing GMV more than 20%, aiming to enhance assortment and offset comp pressures. In contrast, Costco Wholesale Corporation COST reported 5.7% total company comparable sales growth in the third quarter of fiscal 2025, with U.S. comparable sales up 6.6%. Costco benefited from strong traffic and private label gains via Kirkland Signature. In addition, Costco is using local sourcing and strategic inventory management to maintain volume-driven comparable sales growth despite inflationary and tariff headwinds. WMT's Price Performance, Valuation and Estimates Shares of Walmart have gained around 0.4% in the past three months compared with the industry 's growth of 0.3%. Image Source: Zacks Investment Research From a valuation standpoint, WMT trades at a forward price-to-earnings ratio of 34.74X, significantly up from the industry's average of 31.99X. The Zacks Consensus Estimate for WMT's fiscal 2026 earnings implies year-over-year growth of 3.6%, whereas the same for fiscal 2027 indicates a year-over-year uptick of 11.7%. WMT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. One Big Gain, Every Trading Day To help you take full advantage of this market, you're invited to access every stock recommendation in all our private portfolios - for just $1. Zacks private portfolio services that closed 256 double and triple-digit winners in 2024 alone. That's about one big gain every day the market was open. Of course, not all our picks are winners, but members have seen recent gains as high as +627% +1,340%, and +1,708%. Imagine how much you could profit with a steady stream of real-time picks from all our services that cover a number of strategies to suit a variety of investing and trading styles. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Target Corporation (TGT): Free Stock Analysis Report Walmart Inc. (WMT): Free Stock Analysis Report
CTV News
4 days ago
- Business
- CTV News
CTV National News: New report finds grocery prices rise faster than inflation
Watch As food costs keep climbing, Canadians are adjusting their shopping habits. CTV's Josh Marano breaks down the latest report.
