Image: Klarna

1. Millennials and Gen Z Are Hooked on Klarna, a $46 Billion Shopping App: The “buy now, pay later” craze is troubling financial regulators. “In the past when I didn’t have money I simply just couldn’t shop,” TikTok user Joella Louisa tells Bloomberg News. “Now with Klarna, I can.” – Read More on Bloomberg

2. RELATED READ: Regulations, Consolidation at Hand as Buy Now Pay Later Continues to Gain Steam Among Consumers. At the same time as the number of brands, users, and dollars in the BNPL arena continues to grow, the largely unregulated nature of the BNPL explosion has been garnering the attention of regulators around the world. – Read More on TFL

3. More than 8,700 chain stores have closed in 2021: More than 8,700 British chain stores closed in the first half of 2021 as a combination of the coronavirus pandemic and the shift to online shopping continued to hit demand for bricks-and-mortar retail, new analysis has shown. – Read More on the Guardian

4. Vietnam’s Factory Shutdowns Tug at Apparel Industry’s Seams: Apparel brands rely heavily on Vietnam for manufacturing; the country has taken on more importance for U.S. companies in particular as they have shifted sourcing out of China to avoid rising production costs and tariffs. – Read More on the WSJ

5. How sold Western luxury brands to China’s Gen Z: A landmark collaboration with French luxury leviathan LVMH sees JD hosting an innovative program to deliver the brand’s exclusive shopping experience to netizens. Meanwhile, JD Luxury Express provides a white-glove delivery service for the high-end watches and jewelry that self-gifting consumers covet to showcase their personality. – Read More on SCMP