Image: Dior

1. China’s domestic brands boom, fueled by nationalism: Domestic brands like Li-Ning and Anta have benefited, boosted by rising nationalism, improvements in quality and a multimillion-dollar live commerce sector. Tensions with many Western countries, including the U.S., have also driven some consumers to turn to national brands. – Read More on SCMP

2. RETRO READ: A Look at the Changing Habits of the Chinese Luxury Consumer. “The uncertainty consumers in China once felt toward domestic products is gone. Local brands are challenging and beating the global competition, and consumers increasingly believe they’re comparable.” – Read More on TFL

3. Shopify’s Q2 results beat estimates as e-commerce shines: In the second quarter of 2021, Shopify reported revenues of $1.12 billion, up 57% on a year-over-year basis. – Read More on TechCrunch

4. And speaking of Shopify … the company is now allowing its merchants to sell non-fungible tokens. “At Shopify, we are making it easier for our merchants to sell NFTs directly through their stores, with one of the first being the ChicagoBullsNFT store.” – Read More on PYMNTS

5. As lockdowns ease, shoppers ‘revenge spend’ on luxury fashion and jewelry. Sales for Kering and LVMH are growing, while Cartier owner Richemont bouncing is back, too: During a call with analysts, Duplaix said Kering raised some prices on Gucci and Bottega Veneta products in the past year – a sign that consumers are willing to pay more for the brands. – Read More on SCMP

6. Walmart’s latest business: Selling its e-commerce tech to other retailers. Walmart said it will sell the technology it developed to allow shoppers to buy items online and pick up the purchases at the store. Small and midsize retailers also will be able to add products to Walmart’s online marketplace with just a few clicks. – Read More on CNBC