Amazon.com is adding Inspire, a short-form video and photo feed, onto its app. The feature will allow shoppers to see product content created by brands, customers and influencers. Inspire is being rolled out to select customers in the U.S. early this month before becoming more broadly available in 2023.
Chewy currently is capturing around 40 percent of the online pet products market, but the site saw a 5.5 percent decline in traffic in the last quarter compared to the same period in 2021.
Walmart plans as early as next year to launch buy now, pay later loans through its “One” fintech startup that was formed with Ribbit Capital.
The Port of New York and New Jersey have moved a record level of cargo this year and, in the process, supplanted Los Angeles and Long Beach as the busiest ports in the nation. More cargo is being shipped to East and Gulf Coast ports after backups caused supply chain delays in late 2021.
Retailers including Abercrombie & Fitch, Anthropologie, H&M, J.Crew and Zara now charge customers stocking fees for returned merchandise. Americans returned 47 percent of the items they ordered online this year, according to parcelLab.
The Federal Trade Commission has sued to block Microsoft’s $69 billion deal to acquire Activision Blizzard. Commissioners by three to one voted to file a suit citing the harm an approved deal would do to consumers. “Microsoft has already shown that it can and will withhold content from its gaming rivals,” said Holly Vedova, director of the FTC’s Bureau of Competition. “Today we seek to stop Microsoft from gaining control over a leading independent game studio and using it to harm competition in multiple dynamic and fast-growing gaming markets.” Microsoft said it would contest the suit in court.
Sales of marijuana in medical dispensaries and retail stores have fallen year-over-year after posting big gains during the pandemic, according to Headset. “What we saw in 2020 was a massive spike in sales tied to the pandemic as people stayed home, had government stimulus money and not a lot to do,” said Chris Wash, CEO of Marijuana Business Daily.
Costco’s same-store sales improved 6.6 percent year-over-year in its fiscal first quarter, and the warehouse club giant posted earnings of $3.07 a share, up from $2.98 in 2021.
Corporate CEOs, analysts, portfolio managers and business news pundits talk about the U.S. economy as if it is currently in the tank or will very soon be there. The data doesn’t support these negative views as the job market remains strong, wages are up, consumers are spending and the nation’s economy continues to grow.
Gen Zers have turned out in big numbers in recent elections to vote for politicians who support the values they hold. The same is true of brands who have the choice to get on board with these values or wind up losing these shoppers as they begin to start their own families.