Alibaba CEO Steps Down in Surprise Leadership Reshuffle to Prioritize Cloud Business
June 21, 2023 : Alibaba Group surprised the business world by announcing that Eddie Wu will succeed Daniel Zhang as the company’s chief executive. This move will enable Zhang to concentrate on Alibaba’s cloud intelligence business.
iRobot Stock Soars as U.K. Regulator Approves Amazon’s Acquisition
June 19, 2023 : Amazon’s planned acquisition of iRobot, the renowned manufacturer of Roomba vacuums, has received approval from Britain’s competition watchdog, the Competition and Markets Authority.
Retailers Brace for a Challenging Holiday Season with Emphasis on Discounts
June 16, 2023 : Despite significant drops in inflation, a buoyant stock market, and robust national retail sales, retailers are bracing for a lackluster holiday spending season in 2023, according to the latest CNBC Supply Chain Survey. Early indications from peak season order activity suggest that retailers order less and expect consumers to seek discounts and incentives to encourage purchases.
Consumer Brands’ Growth Strategies in 2022: From Sprite and Colgate to Small Players
June 15, 2023 : In a move to assist customers in finding the right products, Amazon has initiated a trial of an AI-powered feature within its shopping app. This feature leverages artificial intelligence to condense customer reviews into concise summaries. The summaries offer an overview of the positive and negative aspects mentioned by shoppers, with a disclaimer that they are “AI-generated from the text of customer reviews.”
Amazon Harnesses Generative AI to Summarize Product Reviews
June 14, 2023 : In a move to assist customers in finding the right products, Amazon has initiated a trial of an AI-powered feature within its shopping app. This feature leverages artificial intelligence to condense customer reviews into concise summaries.
Doppl: The Revolutionary AI Twin Technology Blending Personalization and Blockchain
June 13, 2023 : According to the latest Adobe Digital Price Index report released today, online prices experienced a significant year-over-year decline of 2.3% in May, marking the largest drop since the beginning of the pandemic. This report adds to the mounting evidence that overall inflation is subsiding.
Biggest Drop in Online Prices Recorded in May, Reflecting Easing Inflation
June 12, 2023 : According to the latest Adobe Digital Price Index report released today, online prices experienced a significant year-over-year decline of 2.3% in May, marking the largest drop since the beginning of the pandemic. This report adds to the mounting evidence that overall inflation is subsiding.
Barnes & Noble Flagship Store in Union Square Overwhelmingly Votes to Join Union
June 9, 2023 : Workers at Barnes & Noble’s flagship store in Union Square, Manhattan, have voted overwhelmingly to join the Retail, Wholesale, and Department Store Union (RWDSU).
Walmart Introduces Special Care Program Catering to Small Businesses
June 8, 2023 : With a surge in small businesses emerging, Walmart has launched a program to meet their specific needs more effectively. The program debuted in September 2022 and has garnered significant attention from small businesses seeking office supplies and other essential items. Walmart’s program covers various supplies, from shelving to beverages, snacks, and fresh fruit for break rooms. Additionally, the program offers installation and assembly services, ensuring a meticulous and hassle-free experience for items such as furniture and television monitors.
Inditex Shares Surge 7% Amid Zara’s Soaring Fast Fashion Strategy
June 7, 2023 : Inditex, the Spanish parent company of popular fast fashion brand Zara, experienced a strong performance in the quarter ending April, leading to a 15% increase in global net revenue to €7.6 billion ($8.1 billion) on a like-for-like basis. Operating income also surged by 43% to €1.5 billion ($1.6 billion). The robust sales growth outpaced rising operating costs, maintaining healthy margins, and indicating a stable full-year gross margin of around 60%. As a result, investor confidence soared, leading to a sharp 7% rise in Inditex’s stock.
