Daily LInks
1. A quarter of U.S. malls are expected to shut within 5 years. Giving them a new life won’t be easy. The consensus seems to be that turning old retail space into new warehouses might not be so easy, even though it might seem like a logical solution. “One cannot simply build industrial buildings in areas zoned for commercial use.” – Read More on CNBC
2. What Can Luxury Learn from Group Buying? “We created the feeling of being in a mall with your friends and enjoying the sensation of window shopping and sharing goods by replicating it online,” says Miranda Shek, head of international corporate affairs at Pinduoduo. – Read More on Jing
3. Why Chinese Social Media Apps Are Increasingly Vital to Luxury Goods Makers: “China is the most digitally advanced country in the world, when we look at e-commerce penetration, digital payments penetration, ‘new economy’ concentration. Young Chinese consumers are even more ‘plugged in’, and even more important in driving the present and future fortunes of global luxury brands.” – Read More on Barrons
4. Diamonds are forever: “A series of interviews in July 2020 with independent jewelry retailers shows that retailers’ experiences reflect what the data indicates about a reduced spend on travel,” according to De Beers. “Their customers who have remained employed and/or qualify as affluent have continued to buy as normal, and in fact, average tickets have increased. Many believe that this is due to available discretionary funds that formerly would have been allocated to travel, live entertainment and fine dining.” – Read More on PYMNTS
5. Fashion industry needs deeper supplier collaboration to cut emissions: Apart from suppliers’ energy mix, transitioning to more sustainable materials would have a positive impact on the industry’s overall emissions. But this switch is not as simple as requesting lower-tier supply chain partners to source these materials. Switching out wholesale materials can have knock-on effects upstream, all the way to the farm, that will lead to higher costs — for which brands need to be ready to compensate. – Read More on Supply Chain Dive
6. How to Optimize Your Company’s Approach to Data Privacy: We found that the relationship between data privacy performance and firm’s market valuation is more complicated than the conventional wisdom of “the more the better” suggests. The more they are valued by financial markets, but only up to an optimal turning point, above which improving performance actually hurts firms’ market valuation. – Read More on HBR
