In this month’s episode, Emma and Danny Hoffman, VP, Commerce Strategy, unpack three stories shaping the next phase of commerce.

Shein’s falling stock price raises questions about whether its ultra-low-cost business model is sustainable and whether American consumers are moving beyond ultra-cheap fast fashion. The holiday season is already taking shape, from Target’s Q2 momentum and Amazon’s October Prime Big Deal Days to Best Buy’s plans to create more engaging in-store experiences. Is there any risk in retailers pushing the holiday shopping season earlier and earlier? And TikTok may be exploring peer-to-peer payments through direct messages, raising a bigger question: is the platform building a new commerce layer, or aiming even bigger into financial services?