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Image: H&M
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1. How Luxury Brands Are Manufacturing Scarcity in the Digital Economy: Traditional luxury goods companies have treated digital as a channel – now they’re starting to see it as a market in its own right, thanks largely to NFTs. Today, the key ingredients of luxury – rarity, exclusivity, and cost — can also apply to virtual products, as companies are realizing. – Read More on HBR

2. H&M CEO Sets Target to Double Retailer’s Sales by 2030: CEO Helena Helmersson set an ambitious goal of doubling the fast-fashion retailer’s sales by 2030 after she reduced discounts and started clearing out the company’s longstanding inventory buildup. – Read More on Bloomberg

3. What really happens to Amazon returns: Online purchases are at least three times more likely to be returned than items bought in a store. In 2021, a record $761 billion of merchandise was returned, according to estimates in a new report from the National Retail Federation. – Read More on CNBC

4. Fashion Brands Hope Covid Will Banish End-of-Season Sales: Several European clothing brands that buy their inventory from manufacturers in Asia couldn’t get hold of as many garments as usual because of shipping delays and congested ports. This meant they sold what they had at full price and less stock went into end-of-season sales, padding margins. – Read More on the WSJ

5. Luxury Goods Boom Leads to the Emergence of ‘Wait in Line’ Gigs: The unabated buying boom for luxury products – and enduring price increases by the likes of Chanel – has led to the emergence of new part-time jobs in which individuals are paid in return for waiting in line for entry to famous foreign luxury brand shops on behalf of customers. – Read More on Korea Bizwire