Daily LInks
1. Zara Parent Inditex Continues Digital Transition, Expects 30% eCommerce in 2024: Inditex announced online sales of 7.5 billion euros ($8.25 billion) in 2021, good for a 14% increase over 2020. Online revenues rose 77% from 2019 to 2020, starting at 14% of the company’s revenue in 2019. – Read More on PYMNTS
2. China Lockdowns May Delay Orders From Platforms Like Amazon: Orders placed with global e-commerce platforms like Amazon and Walmart may be delayed by virus lockdowns and restrictions in some of China’s key manufacturing hubs, according to an industry body. – Read More on Bloomberg
3. Discount Stores Are Awash in Merchandise Thanks to Shipping Delays: Disruption creates a unique buying opportunity for off-price retailers, primarily for packaway inventory. As the supply chain disruptions persist, full-price retailers will need to decide whether or not to accept late orders.” – Read More on the WSJ
4. How Glossier founder Emily Weiss’ tech dreams derailed the hottest millennial beauty brand: Staff turnover has become commonplace, with 10 out of 24 executives leaving the company between 2020 to 2022, 5 left after working there for 16 months. Last year, Glossier’s US gross sales fell by 26% year over year. – Read More on Business Insider
5. U.S. retail sales slow, huge savings likely to provide a cushion against inflation: Overall, consumers are being cushioned by at least $2.5 trillion in excess savings accumulated during the COVID-19 pandemic. – Read More on Reuters
