Daily Links

1. The invincible business of counterfeit goods: When people would rather buy a more expensive genuine article than a cheaper fake – even if the two items look almost identical – it’s because they are buying not just the product’s tangible qualities, but also its intangible ones. – Read More on the Guardian

2. Pro-military symbols adorn shop windows of western brands in Moscow: Salvatore Ferragamo and De Beers branded stores were decked out with pro-military symbols to mark Russia’s annual Victory Day parade on Monday, demonstrating how little control high-end retailers have over how their goods are sold in the country. – Read More on Reuters

3. The Great Unsubscribe: With in-person shopping opening up and inflation skyrocketing to levels not seen since the 1980s, consumers are looking closely at their monthly expenses and reconsidering subscriptions that they signed up for when times were different. – Read More on Forbes

4.. Meta’s first store aims to lure consumers to the metaverse: The company formerly known as Facebook is using the space to introduce consumers to the products that will help it realize Mark Zuckerberg’s vision of the metaverse. – Read More on CNBC

5. U.K. Retail Sales Hit by Cost of Living Shock in April, BRC Says: U.K. retail sales are falling for the first time since January 2021 as the cost of living crisis crushes consumer confidence and puts the brakes on spending. – Read More on Bloomberg

1. Coty raises annual profit outlook on resilient luxury demand: Demand for luxury goods has held up as higher prices of everyday essentials have not affected the spending power of the affluent, updates from cosmetics group L’Oreal and Birkin bag maker Hermes have shown. – Read More on Reuters

2. Private Labels Are Flooding Retail: Rising prices, high inflationary pressures, and an uncertain economic environment are forcing many retailers to be creative and introduce new private brands to serve their customers. – Read More on Forbes

3. How Web3 Is Changing Commerce and Governance: Web3’s ability to attach value and incentives to almost every part of human activity has radical implications not only for how businesses engage with their customers, but also for how people can self-organize to drive social change. – Read More on HBR

4. Do Chinese Consumers Want Hyper-Luxury or Hyped Luxury? Offering early or first access to upcoming co-branded products can drive up conversations surrounding their release. – Read More on Jing

5. RETRO READ: As Co-Branding Continues to Prove Effective in China, Here’s What Brands Need to Consider. Through co-branding collaborations, companies have successfully reached more consumers and found new streams of revenue and other mutual benefits. – Read More on TFL

1. Shopify president: The future of retail is not just online. “The brands that are going to do really well, that are be really successful– they will sell wherever their consumer wants to buy, be that online or offline, in an app like our Shop app, or on a social media platform.” – Read More on Yahoo

2. Redefining “Sustainable Fashion.” We are going to use “responsible fashion,” a term that refers to a world in which all players, from the consumer to the CEO, the manufacturer and the farmer, take responsibility for their part in the supply chain and the creative process, and for the choices they make. – Read More on the New York Times

3. Under Armour profit to take hit from higher costs, China curbs; shares tank: Shipping delays and labor shortages have also pressured Under Armour’s ability to get its hoodies and shoes to stores, forcing it to cancel orders. – Read More on Reuters

4. The luxury market needs to hedge against China: A shift in spending habits in Asia and a crackdown on wealth by Beijing threaten a profit squeeze for high-end brands. – Read More on the FT

5. $800,000 for Skateboards: China’s Gen Z Collectors Upend the Art Market: Young collectors half-a-world away in China are poised to set the pace for a new Sotheby’s auction, as they compete remotely for everything from high-end watches to dinosaur artifacts to Andy Warhol. – Read More on the WSJ

1. Hong Kong Retail Sales Plunge Again in March on Virus Curbs: Hong Kong’s retail sales plummeted 13.8% in March, the first back-to-back contraction in more than a year as stringent virus restrictions weighed heavily on the economy and crushed consumer spending. – Read More on Bloomberg

2. Inside Shein’s Sudden Rise: In a recent 12-month period, the Gap listed roughly 12,000 different items on its website, H&M had about 25,000, and Zara had some 35,000. Shein, in that period, had 1.3 million. (Every day, Shein updates its website with, on average, 6,000 new styles.) – Read More on Wired

3. EBay and Etsy drop on weak guidance as e-commerce crunch continues: Etsy and eBay reported better-than-expected first-quarter results, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector is cooling off after a pandemic-fueled boost. – Read more on CNBC

4. Zalando posts first decline in sales since founding: “The main issue is that people just aren’t into buying fashion,” said co-Chief Executive Officer Robert Gentz with a view to high inflation and the war in Ukraine. – Read More on Reuters

5. The case for circular fashion: Why retail needs an urgent reckoning. If we don’t curb fashion industry waste, mountains of clothing and accessories will continue to pollute the environment and end up in landfills. – Read More on Fast Co.

6. Crypto Is a Luxury Good: Other examples abound, some companies are building in the metaverse and minting branded NFTs. The play, though perhaps risky, is that crypto has made a lot of people very wealthy, and the crypto rich may be inclined to patronize businesses that affirm the industry. – Read More on Coin Desk

1. Why can’t Gen Z—the world’s most eco-conscious generation—quit fast fashion? In the U.S., 75% say a brand’s sustainability is important when making a purchase, and 62% prefer to buy from sustainable brands. – Read More on Fortune

2. Moncler sales beat expectations in first quarter ahead of investor day: Overall revenues for the three months to end March totaled $622 million, up 60% from the same period a year ago and above an analyst consensus for 564 million euros provided by the company. – Read More on Reuters

3. Are NFTs the Future of Fashion? With the number of mobile-augmented-reality users expected to be in the billions by 2023, and with hands-free AR glasses predicted to become ubiquitous in a few years (Apple is expected to launch its own AR headset this year), digital fashion is just getting started. – Read More on Elle

4. How customers typically cope with inflation: Some firms shrink the package while keeping the price stable. People are getting the brand they want at the price they are prepared to pay, they are just getting less of it. – Read More on Biz Journals

5. Britain’s Boohoo targets increased sourcing from near-shore markets: Boohoo is targeting increased sourcing from the near-shore markets of the United Kingdom, Europe and northern Africa to reduce supply lead times. – Read More on Reuters