Daily LInks
1. The pandemic has forced Nordstrom to invest more in its off-price e-commerce business: Nordstrom has been slow to invest in the e-commerce side of its off-price Nordstrom Rack business, but now that it will be using Nordstrom Rack to clear some inventory that it couldn’t sell while stores were closed, Nordstrom may be in a better position to invest in content for the Nordstrom Rack website. – Read More on Modern Retail
2. China’s Barely Begun Economic Recovery Shows Signs of Stalling: There is evidence that China’s nascent economic recovery is already beginning to stall. While work resumptions and stabilized supply chains have enabled manufacturers to ramp up their output again, production remains much more robust than demand. “I’m afraid the fastest pace of recovery is already behind us. Weak demand is indeed the biggest problem.” – Read More on WSJ
3. RELATED READ: Luxury Can Only Dream of a 2010-Style Comeback. With global travel flows not expected to return to their pre-Covid levels until late 2021, travel retail sales will remain depressed—as will traffic to LVMH’s network of European boutiques, where up to half of sales are made to tourists. – Read More on WSJ
4. U.S. Businesses Must Take Meaningful Action Against Racism: Research shows that how organizations respond to large-scale, diversity-related events that receive significant media attention can either help employees feel psychologically safe or contribute to racial identity threat and mistrust of institutions of authority. – Read More on HBR
5. Fashion Brands Lay Out Plans to Support the Black Community: Aurora James, the creative director and founder of footwear and accessories brand Brother Vellies, called on the fashion industry’s big players, from Net-A-Porter to Saks Fifth Avenue, to commit to buying 15 percent of their products from Black-owned businesses. – Read More on R29
