Daily LInks
1. Livestreaming: The Sales Driver That Hard Luxury Brands Are Missing in China. 73 percent of China’s active livestream shoppers are millennials and Gen Zers (between the ages of 20 and 40), and China’s livestreaming market is poised to surpass RMB 80 billion ($12.5 billion) in 2021 and RMB 100 billion ($15.7 billion) by 2023. – Read More on Jing Daily
2. Luxury Brands Raise Prices, Betting Wealthy Won’t Mind: With affluent customers who accept—and in some cases seek—hefty price tags, luxury brands are typically able to raise prices without affecting demand. That is in contrast with many mass-market consumer brands, which face tricky decisions about whether to pass costs on to price-sensitive customers. – Read More on the WSJ
3. Walmart Says Business Is Increasingly Digital: “The business model is changing. I think that’s the headline. We’ve got a business that is becoming increasingly digital, the eCommerce business, first party, third party, is growing and it gives us the opportunity to grow things like advertising income.” – Read More on PYMNTS
4. There’s still a lot of pent-up demand for fashion and apparel, says analyst of bullish Macy’s call: Evercore ISI’s Omar Saad says the Street is underestimating the retail giant. – See More on CNBC
5. Does Your Company Need a Chief ESG Officer? CEOs and boards of directors are under increasing pressure to address ESG issues. To support them, companies like C.H. Robinson, Royal Caribbean, and Verizon have recently appointed chief ESG officers. – Read More on HBR
