The coronavirus and online shopping are forcing brick-and-mortar retail stores to close, often for good.Jul 6, 2020 - Economy & Business
That could benefit budget names like Ross and Kohl's.May 19, 2020 - Economy & Business
Fashion is a massive polluter.Mar 7, 2020 - Economy & Business
Consumers defied expectations and shopped at an increasing rate amid a resurgence in COVID-19 cases.
Why it matters: Several measures of consumer confidence fell sharply in August, suggesting consumer spending could fall during the month. In fact, concerns about the Delta variant's impact on the economy had prominent Wall Street economists cutting their expectations for Q3 GDP growth.
Investors rushed to buy shares this week of running shoes company On in its stock market debut, amid new signs that consumer spending remains resilient.
This holiday season, e-commerce sales in the U.S. will likely be 50% higher than 2019 levels. Brick and mortar retailers' sales will also be up over the same period, but by just 9%, estimates a new Deloitte report released this morning.
Why it matters: The pandemic drove businesses and consumers online — habits that are sticking around for the long term.
Plant-based meat firms aren't just going after vegans and vegetarians anymore. They're betting that closely mimicking the taste of meat will let them chip away at the meat-eating market too.
Why it matters: Diets that include meat — especially beef — have a steep climate impact. If plant-based protein gains popularity, more and more people could reduce or even halt their meat consumption.
Salesforce will help employees who want to leave Texas after a law that imposed a ban on abortions after six weeks went into effect this month, CEO Marc Benioff said on Friday.
Why it matters: Salesforce is the latest company to take action against the law that's known to be one of the most restrictive abortion bans in the U.S.
Impossible Foods is out with a chicken nugget that closely mimics the taste and texture of the American fast food favorite.
Why it matters: Plant-based meat companies aren’t just after the vegan and vegetarian market. They’re thinking much bigger.
Walmart plans to raise hourly wages for about 565,000 workers in departments such as food and general merchandise starting Sept. 25, the New York Times reports.
Why it matters: Walmart, who employs 1.6 million people in the U.S., will raise the average wage to $16.40, but its minimum wage of $11 an hour falls behind other large retailers such as Amazon and Target.
New COVID lockdowns in Vietnam are creating supply problems for some well-known U.S. brands.
Best Buy reported surprisingly strong Q2 sales and earnings. The company also had some surprising things to say about customer behavior. Bullish things.
Why it matters: The distribution of COVID vaccines and the reopening of the economy came with an expected shift in spending toward experiences and less on goods.