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Since most of the U.S. entered lockdown mode, almost all of Wayfair’s brick and mortar competitors shut their doors leaving Wayfair as essentially the only game in town for home furnishings -from CNBC
At the height of its success, J.Crew and its sister company Madewell were operating in over 100 countries and had over 500 stores. -from Business Insider
On March 12th, during the Great Toilet Paper Panic of 2020, sales of toilet paper ballooned 732% compared to the same day the previous year. -from Fortune Magazine
Airbnb was supposed to be the hottest public offering of 2020. Instead, the home-sharing giant just cut 25% of its workforce and expects revenue to be less than half of what it was in 2019. -from WSJ
J.C. Penney rose to prominence as a national retailer by dressing the middle class for over a century. -from WSJ
The plastic cash substitute has been the most popular holiday item on shoppers’ lists for 13 years in a row, as of 2007. -from CNBC
Online grocery delivery is seeing exceptional growth amid the coronavirus. Over the last few weeks, Instacart has seen customer order volume increase more than 500% year-over-year. -from CNBC
New retail concepts are challenging the traditional store format and pushing the boundaries of innovation. -from Euromonitor International
Experts tell us that measures like contactless shopping and curbside pick up are likely to continue and we may see changes to way we navigate stores. -from Global News
China's retail sector is gradually getting back to business. Most optimistic about future despite the disruptions caused by the coronavirus outbreak & are making efforts to adapt to the changes.
Get fresh groceries and more with no-contact grocery delivery. It’s easy! Place your order on http://walmart.com/grocery or in the app. -from Walmart
As of April 2020, J.C. Penney saw its shares trading well below $1, and it has long been in danger of being delisted by the New York Stock Exchange. -from CNBC
Having started off as a mobile-first supermarket, Alibaba’s New Retail food chain now encompasses a range of store formats to cater to different consumer needs. -Alibaba Group
RETHINK Retail headed down to Miami to hear what retailers and vendors are up to in 2020. You'll hear from over 10 industry leaders about what trends are top of mind for bricks. -from Rethink Retail
Seizures of counterfeit products at U.S. borders have increased 10 fold over the past two decades as e-commerce sales have boomed. Most are coming from mainland China or Hong Kong. -from CNBC
Amazon Go Grocery lets you shop for fresh produce and just walk out, no wallet required. -from CNET
Many Wall Street economists feel it’s the US consumer who’s keeping another recession at bay. Here’s how US consumers help keep the global economy afloat. -from CNBC
JD.com is the largest online retailer in China. With over 300 million customers, we have a vast network of warehouses and delivery stations, and deliver most orders in less than a day.
From Albert Heijn Communicatie
Auto parts retailer AutoZone and its closest competitors are for now fending off competition from e-commerce giants such as Amazon by offering a lot of in-store service. - From CNBC
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Continuing our journey to learn something new, our next stop is the Grand Bazaar in Istanbul Turkey. It all began in the year 1455 when Mehmet the Conqueror, the Ottoman Empire’s visionary leader, decided to establish a center of trade in the heart of the city.
Today the Grand Bazaar or as known to locals as the Kapalıçarşı is one of the world’s most famous shopping destinations. Its 30,700 square meters (330,452 square feet) covered retail mecca is a wonder to get lost it.
Inside the Bazaar’s 64 streets and smaller alleyways are roughly 4,000 stores, a mosque, post office, cafes, banks, delicious spices from the orient galore, local foods, and even a police station. You might call it a mini or maybe even better a mega city mall plus.
As a tour guide correctly wrote, the Grand Bazaar in Istanbul is a living testament to the city’s rich history and vibrant culture. It is a place you can shop for exquisite treasures, indulge in delectable flavors, and immerse yourself in the traditions of the past.
A special life-long friend who arranged for me to experience this special place once again is what inspired this summary. Retail has so many exciting places in the world where culture and humanity come together in an explosion of all your senses. Traveling back to Istanbul of what a great feeling it is to step away from your comfort zone, focus on the probabilities, vanquish the impossible, and create immersive experiences of a lifetime.
McKinsey Technology Trends Outlook 2024
Which technology trends matter most for companies in 2024? New analysis by the McKinsey Technology Council highlights the adoption, development, and industry effects of advanced technologies. The two trends that stood out in 2023 were gen AI and electrification and renewables. - From McKinsey and Company Read more
Visualizing the Cost of Hosting the Olympics
The Paris Olympics are estimated to cost over $9 billion to host, making them one of the less expensive Summer Olympic Games in recent memory. The International Olympic Committee requires cities to have at least 40,000 hotel rooms for spectators and an Olympic Village that can house 15,000 athletes and officials. - From Visual Capitalist
Why EV Leases Are So Cheap Right Now In The U.S. -CNBC
Automakers are offering steep discounts on electric vehicles, and especially on leases. In the first three months of 2024, less than a quarter of car buyers leased vehicles, but more than a third of EV buyers did. Read more
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