Vivid Seats and I Am Athlete to create custom content, and launch new live event focused show

TickPick, which was founded in 2011, is a ticketing marketplace that competes with the likes of StubHub, SeatGeek and Vivid Seats.

As consumers’ ongoing financial concerns drive them to seek deals and promotions, brands across retail categories are seeing increased engagement with their loyalty programs. Sportswear brand Under Armour shared on a call with analysts Thursday (Aug. 8) discussing its first-quarter fiscal 2025 earnings results that it is seeing quick adoption of its relatively new loyalty program, UA Rewards. “Our loyalty program is … giving us an added boost in realizing improved long-term growth, profitability and higher brand engagement,” President and CEO Kevin Plank said during the call. “With less than a year under our belts in North America, UA Rewards has grown quickly, and its performance has been a positive contributor. The program has nearly 5 million members and is growing month by month.”

Millrace Asset Group Inc. invests $1.69 million in Vivid Seats Inc. (NASDAQ:SEAT).

Dynamic Technology Lab Private Ltd acquires 62,891 shares of Vivid Seats Inc. (NASDAQ:SEAT).

As shoppers turn to eCommerce channels for convenience, many are still willing to go to brick-and-mortar malls for unique, site-specific experiences. Seizing on this demand, Mall of America, the largest shopping center in North America, announced Friday (May 17) that it will soon open an on-site game-show-style amusement center, Great Big Game Show, where consumers play the sorts of games they may see broadcast on TV. These include races, trivia competitions and other challenges, with game show accoutrement such as buzzers and a live host. “This is an exceptional addition to the unique attractions Mall of America has to offer,” Carrie Charleston, vice president of leasing at the shopping center, said in a statement

As consumers step up their spending on travel and on local experiences, Groupon noted, they are pulling back on buying products.The eCommerce marketplace shared in an investor presentation accompanying its first-quarter 2024 financial results Thursday (May 9) that, with the exception of its “Goods” business — which sells retail products — its North American segment, which accounts for the bulk of the business, saw +8% year-over-year growth. Conversely, gross billings from goods were down 36% year over year.“Our current Goods business is struggling, and we don’t see any near-term change in the negative trend,” Groupon CFO Jiri Ponrt told analysts on a call. “At 4% of first quarter revenues and declining rapidly, Goods is becoming a smaller and smaller part of our business.”Indeed, consumers are pulling back on buying products. The February/March PYMNTS Intelligence report, “New Reality Check: The Paycheck-to-Paycheck Report: Why One-Third of High Earners Live Paycheck to Paycheck,” finds that 56% of high-income, 66% of middle-income and 69% of low-income shoppers said they have cut down on nonessential spending in the last year due to retail product price increases.Conversely, gross billings for local experiences in North America were up 4%, and travel gross billings were up 3%.As the company reprioritizes experiences, it is doing so led by Dusan Senkypl. On Tuesday (May 7), Groupon announced the installment of Senkypl, who was serving as interim CEO and who is co-founder and partner of the company’s largest shareholder, Pale Fire Capital, as permanent CEO.“I see a massive opportunity for Groupon to become the ultimate destination for local experiences and services. If you want my motivation for taking this role — the work is not done,” Senkypl said in a statement at the time

As consumers feel their budgets come under pressure, people continue to spring for live event tickets, Vivid Seats’ latest earnings results reveal, even as they cut back on retail purchases.The online ticket resale marketplace reported Tuesday (May 7) that it saw marketplace gross order value (GOV) of more than $1 billion in the first quarter of the year, rising 20% year over year, with revenue increasing by 18%.On a call with analysts discussing these results, Chief Financial Officer Lawrence Fey addressed investor concerns about how consumers’ constrained discretionary spending would affect their ticket purchasing.“There’s going to be some skew towards affordability, but beyond that, … nothing we’ve seen suggesting at the broad level any weakening in consumer interests and attending these types of events,” Fey said.Moreover, the company is seeing generational trends toward spending more on experiences as younger consumers begin making more purchases.“Frankly, as the demographics move into some of the newer generations who are coming into purchasing power, I think it’s clear that this is a category that they will remain prioritized on their spend,” Vivid Seats CEO Stan Chia noted.The younger consumer, the more of their paycheck they are likely to spend on recreation, leisure and entertainment activities, per PYMNTS Intelligence data. The April installment of the “New Reality Check: The Paycheck-to-Paycheck Report” series, “Why 60% of Gen Z’s Live Paycheck to Paycheck,” drew from a survey of more than 3,400 U.S. consumers to understand their financial lifestyles, among other things. Gen Z consumers reported expecting to spend 10% of their personal income on these expenses in the month ahead, while millennials expected to spend 8%, Generation X 7%, and baby boomers and seniors 6%.The same study found that millennials and bridge millennials are the most likely of all consumers to cite paying for an upcoming event or show as their top financial priority.On the flip side, retail companies are noting this shift away from their offerings. Mattel highlighted in its first-quarter earnings call last month that young parents are spending more on experiences for their kids and less on toys.“We do expect some decline in 2024, although at a lesser rate than last year,” Chairman and CEO Ynon Kreiz told analysts. “The decline is due to the same factors that impacted 2023 in terms of a lighter theatrical film slate and the impact of a shift in consumer spending towards … experiences and services.”Overall, consumers are cutting back on purchasing physical products