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Welcome to yet another insightful edition of Market Mosaic.
This week, global smartphone shipments fell a record 22%, and inflation is forecast to rise in 11 major economies.
We also looked at how revolving credit grew at a 14.5% annual rate in September, and how air cargo demand rose 7.7%.
Ask the Desk, our latest AI tool, for data-driven insights on what they mean for your business and market.
Insights Team, Rwazi
Global smartphone shipments fell a record 22% in Q3 as memory costs surged
Global smartphone shipments fell 22.0% from a year earlier to 255.3 million units in the third quarter, the steepest quarterly drop on record. Memory costs are up about 350% year on year and still rising, pushing prices higher and leading buyers to keep their current phones longer.
The 2 largest brands slipped just 4% to 6% and now hold 45.0% of the market, up from 36.9%. The 3 Chinese brands in the top 5 fell 29% to 35%, as heavy exposure to low-end phones forces a choice between margins and volume.
Key Insights
Higher component costs are shrinking the market, and low-end brands take the hardest hit. Growth is expected to stay constrained through 2027, with any recovery no earlier than 2028, so plan for longer replacement cycles. See how demand for your own device holds up.
Finding data-driven market insights from Market Mosaic used to mean scrolling through weeks or months of newsletters.
The Desk pulls all the insights together so you can make decisions. Ask a question and get an answer sourced from all Market Mosaic editions.
Ask something like "Should rising freight rates change my Q4 shipping budget?" and get a sourced answer in seconds.
Argentina and Türkiye are cooling from inflation above 30% while 11 other major economies are heating up
Projected inflation in Argentina falls to 32.5% from 41.9% and in Türkiye to 31.2% from 34.9%, and no other economy on the list tops 6.1%. Across 19 major economies, 11 are projected to see faster price growth in 2026, 7 slower and 1 unchanged.
The median economy moves to 3.3% from 2.5% a year earlier. India more than doubles to 5.0% from 2.0%, the US rises to 3.6% from 2.7%, and China edges up to 1.0% from 0.0%, while Japan eases to 2.0% from 3.2%.
Key Insights
Price pressure is spreading to most markets even as the 2 highest-inflation economies cool. The median is up 0.8 points, so cost assumptions built on 2025 rates will run short in most places. See how your own pricing holds up.
Revolving credit grew at a 14.5% annual rate in September, more than 3 times its pace for the quarter
Consumer credit grew 6.4% annually in September, up from 1.9% in August, to $5.22 trillion. Revolving credit, mostly credit cards, grew 14.5% to $1.37 trillion, while fixed-term loans such as auto and student loans grew 3.6% to $3.86 trillion.
Revolving credit accounted for about 26% of the total, and its September pace was more than 3 times the third-quarter annual rate of 4.1%. Borrowing stayed costly, with card rates at 21.19% on all accounts and 22.36% on interest-bearing accounts.
Key Insights
Revolving borrowing rose much faster in September than over the quarter, and with card rates above 21%, interest will take more of household budgets. Total credit grew 6.4% in September, up from 4.2% for the quarter. See how your own consumer credit demand compares.
Air cargo demand rose 7.7% in September as Asia to North America traffic jumped 17.0%
Global air cargo demand rose 7.7% from a year earlier in September while capacity grew 2.7%, lifting the load factor 2.2 points to 47.9%. Every region grew, led by North America at 11.8% and Asia-Pacific at 8.6%.
Asia to North America was the strongest lane at 17.0%, its 8th straight month of growth, with AI-related shipments helping drive double-digit gains across the Pacific. Jet fuel cost 103.4% more than a year earlier, though, and Europe-to-Middle East traffic fell 18.0%.
Key Insights
Demand is growing nearly 3 times as fast as capacity, yet jet fuel has more than doubled in a year and yields have not kept pace, so cost pressure may reach freight rates. See how your own air freight costs compare.
It's time to set up your holiday streaming campaign
Are you ready to reach holiday shoppers on CTV? For many streamers, the season is already underway.
Last year, according to Roku internal data, holiday content searches on Roku saw an 86% increase during October. And in November, those searches rise an average of 39% weekly. This surging holiday spirit is mirrored by consumer activity, as about half of Roku streamers shopped Black Friday and Cyber Monday deals in 2025.
Meeting those shoppers is easier than you might think. Begin with the seasonal outcome you hope to drive: awareness, online sales, leads, store visits, or another measurable goal. From there, define your audience, upload your creative, set the budget and campaign dates, and establish measurement before launching. You can even create a shoppable ad unit that lets streamers buy with a click of their remote.
Our holiday playbook offers a month-by-month guide to reaching shoppers during this all-important time of year.
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