Report: Luxury goods market valued at $1.5T, led by in-store sales

Federal lawmakers have made some advertiser-friendly revisions to a bipartisan privacy bill that would regulate the collection and use of consumers' data. Among other changes, the new draft of the bipartisan proposed American Privacy Rights Act, unveiled late Tuesday, appears to require businesses to allow consumers to opt out of online behavioral advertising -- meaning ads served based on cross-site and cross-app data. The House Energy and Commerce Subcommittee on Innovation, Data, and Commerce is scheduled to mark up the bill on Thursday. The new language relating to online behavioral advertising is less restrictive than language in the original version, which was introduced last month by Senator Maria Cantwell (D-Washington) and Representative Cathy McMorris Rodgers (R-Washington). That version, widely considered ambiguous, would have either required companies to obtain opt-in consent for online behavioral advertising, or banned such advertising altogether, depending on interpretation.

Municipal, the activewear brand co-founded by Mark Wahlberg, is evolving into a broader lifestyle company as it looks to deepen customer engagement and boost revenue beyond apparel. The company is laying the groundwork for what it calls “the Muniverse”: a retail strategy that includes properties like flagship clothing stores, coffee shops and gyms, all tailored to the surrounding community, co-founder Harry Arnett told Modern Retail. Municipal aims to have 20 flagship stores in the next seven years, and dozens of gyms in the next five to 10 years. Next week, Municipal will also launch a $100-a-year membership program for its most devoted customers. Perks include 10% off all purchases, free shipping and returns, and access to exclusive events.

Did you know that the sense of smell is linked to the systems in the brain that evoke emotions and memory more directly than any other sensory system combined? What does this mean for marketers? It means that we can use smell to influence emotion and purchase intent. This therefore increases purchasing. In 2023, the USPS is offering a 5% postage discount if you integrate scent into your mail piece so you can not only drive additional sales, but you can also save money on postage. The purpose of this USPS promotion is to encourage sensory engagement with physical mail pieces. This is my favorite promotion that the USPS is running because you can only provide a tactile experience with direct mail. No other marketing channel can do this! Interesting Scent Facts: 75% of the emotions we generate on a daily basis are affected by smell. 81% of consumers would choose a product they can smell and touch over one they can only see. 65% of consumers can remember a memory associated with scent after a period of one year. 90% of respondents indicate the scented advertisement stood out from the clutter