The big picture

The impending retail apocalypse

The coronavirus and online shopping are forcing brick-and-mortar retail stores to close, often for good.

Jul 6, 2020 - Economy & Business
Coronavirus retail apocalypse could be a win for chains that survive

That could benefit budget names like Ross and Kohl's.

May 19, 2020 - Economy & Business
Deep Dive: How vanity will save retail

If Main Street is going to be saved, enduring American vanity will be among the primary reasons.

Updated Jan 12, 2019 - Economy & Business

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Dion Rabouin, author of Markets
Apr 7, 2021 - Economy & Business

Small business owners are shifting worries from COVID to inflation

A New York deli. Photo: Amir Hamja/Bloomberg via Getty Images

A new poll of more than 10,000 small business owners finds that even as nearly half (48%) are earning less than 50% of their monthly, pre-pandemic revenues, their worries are moving from COVID-19 to the increasing cost of goods and supplies.

What's happening: The latest survey from Alignable finds "a newfound optimism that expedited vaccine distribution in the U.S. has kick-started the beginning of a recovery for some industries and groups, while others still suffer."

Dan Primack, author of Pro Rata
Apr 6, 2021 - Economy & Business

All eyes on Amazon union vote

Illustration: Sarah Grillo/Axios

Bad news for Amazon is usually viewed as good news by its smaller retail rivals, wherever they sit in the supply chain. But that may not be true this week.

The big picture: Nearly 6,000 Amazon warehouse workers in Alabama are awaiting the preliminary results of a unionization vote, which could be released at any moment by the National Labor Relations Board.

Ina Fried, author of Login
Apr 6, 2021 - Technology

Unpacking LG's legacy as it exits the smartphone market globally

LG's 2013 G Flex was among the first phones with a flexible display. Photo: LG

In a world where smartphones have become increasingly homogeneous, Korea's LG was notable for being willing to take risks, even in its flagship models.

Why it matters: LG's exit from the smartphone business doesn't put a lot of market share up for grabs, but the firm's penchant for trying new things will be missed.

Bakkt digital wallet app launches to help bring crypto to consumers

Image: Bakkt

Digital currency platform Bakkt launched its consumer app Tuesday. The Bakkt App serves as a digital wallet for loyalty and rewards points and gift cards, as well as bitcoin. 

Why it matters: Building an app that places bitcoin next to commonly used forms of digital assets could help introduce cryptocurrency to people who might not otherwise seek it out.

Companies face purpose paralysis

Illustration: Sarah Grillo/Axios

Companies may feel more pressure to speak out about controversies than in the past. But boycotts against Coca-Cola and Nike this week demonstrate why it's not always a cut and dry win if they do.

Why it matters: Two years ago, hundreds of top CEOs agreed their purpose shouldn't just be about shareholders, but all stakeholders — including their supply chains, customers and employees.

Dion Rabouin, author of Markets
Mar 25, 2021 - Economy & Business

Ja Rule sells Fyre Festival painting as NFT for $122,000

A portrait of the Fyre Media logo held by rapper Ja Rule sold at auction for $122,000 through the rapper’s NFT venture Flipkick painting, Ja Rule said on Twitter.

Why it matters: Because markets are efficient.

Dion Rabouin, author of Markets
Mar 24, 2021 - Economy & Business

Almost half of small businesses fear closing before end of Q2

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Half of all women-owned businesses and nearly 6 in 10 small businesses owned by people of color (59%) are "highly concerned" about keeping their firms solvent through the end of the second quarter, a new survey from Alignable shows.

The big picture: Almost half of all businesses (45%) said they were "highly concerned" about their ability to keep the lights on, including close to two-thirds of all beauty salons (63%) and caterers (63%).

GameStop posts first earnings report since Reddit mania

Data: FactSet; Chart: Axios Visuals

GameStop sales fell during its all-important holiday quarter — the first business update from the company since the Reddit-fueled stock mania.

Why it matters: For all the talk about GameStop's stock, there's been less about the company itself — which has struggled to adapt to the more digital video game landscape.

Here come the weddings

Illustration: Aïda Amer/Axios

The latest sign of a return to normal: The traditional in-person wedding is plotting a comeback.

Why it matters: The colossal wedding business — already facing upheaval as marriage rates plummet — was left for dead by the pandemic. The effect crushed revenues for the lengthy list of love beneficiaries: vendors, florists, hotels, caterers, jewelers, makeup artists and more.

Mar 19, 2021 - Podcasts

Bodegas threaten to boycott Coke

Coca-Cola is as much a part of New York City bodegas as are corn chips and cats. But a trade group representing Latino bodega owners is threatening to boycott Coke products over the company's decision to close a Latin affairs office and some funding decisions the group believes are inequitable.

Axios Re:Cap digs into the possible boycott and what's behind it with Frank Garcia, chair of the National Association of State Latino Chambers of Commerce and a onetime Coke ally, who worked to fight against former Mayor Bloomberg's soda tax.

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