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China has long been the manufacturing hub for tech giants like Apple and Samsung. But now, a range of geopolitical factors are pushing technology companies to spend billions to relocate their operations to places like India, Vietnam and Latin America.
Mastercard is the second largest card network in the U.S., accounting for more than a quarter of all purchase volume using a payment card. As the world transitions to a more cashless society, Mastercard’s value has continued to soar.
About 90% of all credit card spending is on rewards cards like Delta SkyMiles, Chase Sapphire Preferred or American Express Platinum. And these cards are hugely popular for a reason: you can earn cash back, upgrades on flights and many other perks.
About 90% of all credit card spending is on rewards cards like Delta SkyMiles, Chase Sapphire Preferred or American Express Platinum. And these cards are hugely popular for a reason: you can earn cash back, upgrades on flights and many other perks.
Vinyl record sales hit $1.2 billion in 2022, outselling CDs for the first time since 1987. In today’s digital music era, streaming apps like Spotify and Apple Music offer listeners hundreds of millions of songs instantly through their phones.
Can a color really beat the AI revolution? For now, it looks like it can.
The financial revolution once promised by cryptocurrencies has been knocked off course by regulators and allegations of fraud. So what does the future hold for crypto?
Wall Street investors remain braced for a recession. But a turndown hasn't yet materialized, due to strong demand from U.S. consumers. Spending makes up roughly 68% of the U.S. economy.
Paypal is a powerhouse in the digital payment industry with a market valuation of over $84 billion. But the company’s stock performance has suffered immensely over the past few years.
U.S. airlines carried more than 470 million passenger bags in 2022. For decades most bags flew for free, but in recent years fees have surged, boosting the bottom line of the nation’s carriers.
In the flurry of papers that an employee receives during the onboarding process, there is one clause that could have a significant impact on their future career: the non-compete agreement.
Laredo, Texas, is primed to become one of the world’s most important supply chain hubs as companies around the world reduce their manufacturing reliance on factories in China and shift their production to Mexico.
Everything is more expensive. Overall consumer prices are about 13% higher than they were in April 2021 and Americans are feeling the pain. Inflation, or the rate prices are increasing in the general economy.
The rise in new generative artificial intelligence tools has the potential to rock industries staffed by white collar workers in the coming years.
The trillions in excess personal savings built up in the pandemic are beginning to vanish amid high inflation, according to Federal Reserve economists. The monthly saving rate fell to a 15-year low in 2022.
China has been the most populous country for more than two centuries – until this month. India's population may have surpassed China’s, a milestone that some believe heralds a new global order.
The United States is the only advanced economy that doesn’t guarantee workers paid time off. And nearly half of those who are offered paid vacations don’t take the days, even though roughly 80% of U.S. workers receive some sort of paid time off.
U.S. Customs & Border Protection gave CNBC exclusive access inside one of America’s largest ports where millions of dollars' worth of cargo was being detained while major companies scrambled to prove their supply chains are clean.
Right now, inflation is inescapable. At the grocery store, the gas station, and in almost every country in the world, people are paying more — way more — than they did just a couple of years ago for everything. In this video, we explore three explanation
Large language models are astonishingly good at understanding and producing language. But there’s an often overlooked bias toward languages that are already well-represented on the internet.
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"Die of Success? Give me a break. We've only just started." - Amancio Ortega, Zara's Founder
Continuing our global journey to learn something new our next stop is the retailer Zara. As of January 2023, the Inditex group which includes Zara operated nearly 6,000 stores worldwide.
In 1963, Amancio Ortega opened Confecciones GOA, a small dressmaking workshop in La Coruna in Galicia, Spain. Zara was born in 1975 and originally it was called Zorba, an inspiration from Amancio’s favorite movie ‘Zorba the Greek’. Turns out a bar nearby already had taken the Zorba name.
The Inditex Group was born in 1985 as a holding group to bring multiple companies, including Zara under one banner. Inditex actually stands for ‘Industria de Diseño Textil’.
Zara’s designers create 40,000 new designs annually, out of which up to 12,000 go into production. From the design stage to production, distribution, and appearing for sale in a Zara store, it takes up to 15 days (industry average is 4 to 6 months). Annually, the company produces 500 million pieces of clothing.
Most global fashion brands pump 3% to 7% of their revenues into advertising. For Zara, the advertising budget is 0.3% and most of it is used on store displays. 85% of the clothes are sold at full price.
La Coruna and visiting Inditex stores throughout the world such as this Zara in Milan was one of my favorite retail activities. Their focus on innovation and continuous improvement have also been a core inspiration to my career. As the opening quote from Amancio reminds us, if you truly enjoy what you are doing, every day, you are just getting started.
Retail's AI Revolution
The overall economic AI impact worldwide through 2029 will be $9.2 trillion USD. This impact will vary dramatically by region, by tier, by retail segments, and by solutions. AI/ML has the potential to greatly enhance retail operations by analyzing customer data, providing personalized recommendations, optimizing inventory management, and automating customer service, but implementing these technologies can be challenging and requires extensive data cleansing and tagging. - From IHL Group Read more
How Generative AI is Being Used to Change the World of Marketing
77% of companies are exploring Artificial Intelligence, including Generative AI. This innovative technology involves algorithms fed into existing content to create iterations with new content, including audio, code, text, pictures, video, and simulations. The goal is to 'teach' machine learning systems to 'artificially think' and create innovative content. - From Techaeris
Apple vs. Samsung’s Strategies to Move Manufacturing Away From China | WSJ
China has long been the manufacturing hub for tech giants like Apple and Samsung. But now, a range of geopolitical factors are pushing technology companies to spend billions to relocate their operations to places like India, Vietnam and Latin America. Read more
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