Retailer Story of the week
The Co-op boosted its membership by 20% in the first half of 2024, bringing its total to 5.5 million members. By focusing on exclusive member pricing and fun perks like free movie rentals, Co-op aims to hit 8 million members by 2030. With a 79% rise in under-25 signups and a successful £55m investment in member benefits, the retailer also returned to profit, reporting £58m.
Social Media Story of the week
Social media platforms are evolving, with TikTok leading the charge. This week’s updates show a move toward "interest-based" algorithms over the old "social graph" models. Now, apps like Instagram, Facebook, and even LinkedIn prioritise showing users content based on their behaviours, not just from people they follow. As TikTok expands its shop features and long-form content, the focus is on deeper engagement—benefiting smaller creators and businesses alike. Instagram is also boosting smaller accounts in feeds with algorithm tweaks. The future of social media is about relevance, not just followers.
Industry Story of the week
The ASA has banned ads from Nike and Sky for using "dark pattern" tactics that misled customers. Nike’s ad, run by a third-party retailer, advertised discounted trainers, but only in children's sizes, misleading consumers about availability. Sky’s Now TV ad was also flagged for automatically renewing a free trial without clear disclosure. The ASA’s crackdown serves as a warning to retailers about transparency in online ads.
