Amazon.com Inc.’s Prime Day sale helped boost online spending across all retailers in the US by 30.3% to $24.1 billion, according to Adobe Inc., topping its estimate for 28.4% growth for the period ending July 11.
Bloomberg
It’s a good sign for the online retailer as well as competitors such as Walmart Inc. and Target Corp., which hosted their own overlapping sales.
Amazon expanded Prime Day from two days to four this year in an effort to give shoppers more time to browse the millions of discounts offered on its web store. But there was a downside to the strategy. Shoppers — already made cautious by President Donald Trump’s trade war — hung back, loading up their carts without immediately hitting the buy button.
And rather than splurging on expensive electronics or luxury items, many shoppers used the sale to stock up on household essentials like dish soap and paper plates. Two-thirds of the items purchased cost less than $20, and the average household spent $156, according to the research firm Numerator, which gathered data from a sample of more than 50,000 households.
Sensing that inflation-pinched consumers would be searching for bargains, Elavi, a low-sugar nut-butter launched in 2020 by Los Angeles entrepreneurs Michelle Razavi and Nikki Elliott, boosted their marketing budget and offered a 20% discount on their blue cashew butter. The bet paid off, and their startup brand rocketed to the best-seller rank in the cashew butter category.
“With our product being less than $15, we knew it would perform exceptionally well in this high traffic environment, so we’d be stupid not to advertise and get in on that action,” said Razavi, Elavi’s chief executive officer.
Pricier products imported from high tariff countries like China faced a tougher challenge, and some brands decided to skip the event this year or decrease the number of deals they offered. Only 3% of items purchased on Prime Day cost more than $100, according to Numerator.
Still, Prime Day isn’t simply about how many products Amazon sells. Originally, the sale was launched in an effort to sign up more Prime subscribers, who pay $139 a year for shipping discounts and other goodies. Moreover, a longer sale gave the company an opportunity to sell more ads to merchants and vendors. Advertising is a major money-maker for Amazon.
“The elongated Prime Day fits into a broader advertising strategy,” said Jared Belsky, CEO of digital marketing agency Acadia, whose clients include Monster Energy, Orkin and Takis. “Prime Day is no longer just a sponsored search ad game. It’s about longer marketing campaigns.”
The demerger of Unilever‘s ice cream division, to be named ‘The Magnum Ice Cream Company,’ which had been delayed in recent months by the US government shutdown, will finally go ahead on Saturday, the British group announced.
Reuters
Unilever said in a statement on Friday that the admission of the new entity’s shares to listing and trading in Amsterdam, London, and New York, as well as the commencement of trading… is expected to take place on Monday, December 8.
The longest federal government shutdown in US history, from October 1 to November 12, fully or partially affected many parts of the federal government, including the securities regulator, after weeks without an agreement between Donald Trump‘s Republicans and the Democratic opposition.
Unilever, which had previously aimed to complete the demerger by mid-November, warned in October that the US securities regulator (SEC) was “not in a position to declare effective” the registration of the new company’s shares. However, the group said it was “determined to implement in 2025” the separation of a division that also includes the Ben & Jerry’s and Cornetto brands, and which will have its primary listing in Amsterdam.
“The registration statement” for the shares in the US “became effective on Thursday, December 4,” Unilever said in its statement. Known for Dove soaps, Axe deodorants and Knorr soups, the group reported a slight decline in third-quarter sales at the end of October, but beat market expectations.
Under pressure from investors, including the activist fund Trian of US billionaire Nelson Peltz, to improve performance, the group last year unveiled a strategic plan to focus on 30 power brands. It then announced the demerger of its ice cream division and, to boost margins, launched a cost-saving plan involving 7,500 job cuts, nearly 6% of the workforce. Unilever’s shares on the London Stock Exchange were steady on Friday shortly after the market opened, at 4,429 pence.
This article is an automatic translation. Click here to read the original article.
Burberry has named a new chief operating and supply chain officer as well as a new chief customer officer. They’re both key roles at the recovering luxury giant and both are being promoted from within.
Matteo Calonaci becomes chief operating and supply chain officer, moving from his role as senior vice-president of strategy and transformation at the firm.
In his new role, he’ll be oversee supply chain and planning, strategy and transformation, and data and analytics. He succeeds Klaus Bierbrauer, who’s currently Burberry supply chain and industrial officer. Bierbrauer will be leaving the company following its winter show and a transition period.
Matteo Calonaci – Burberry
Meanwhile, Johnattan Leon steps up as chief customer officer. He’s currently currently Burberry’s senior vice-president of commercial and chief of staff. In his new role he’ll be leading Burberry’s customer, client engagement, customer service and retail excellence teams, while also overseeing its digital, outlet and commercial operations.
Both Calonaci and Leon will join the executive committee, reporting to Company CEO Joshua Schulman.
JohnattanLeon – Burberry
Schulman said of the two execs that the appointments “reflect the exceptional talent and leadership we have at Burberry. Both Matteo and Johnattan have been instrumental in strengthening our focus on executional excellence and elevating our customer experience. Their deep understanding of our business, our people, and our customers gives me full confidence that their leadership will help drive [our strategy] Burberry Forward”.
Traditional and occasion wear designer Puneet Gupta has stepped into the world of fine jewellery with the launch of ‘Deco Luméaura,’ a collection designed to blend heritage and contemporary aesthetics while taking inspiration from the dramatic landscapes of Ladakh.
Hints of Ladakh’s heritage can be seen in this sculptural evening bag – Puneet Gupta
“For me, Deco Luméaura is an exploration of transformation- of material, of story, of self,” said Puneet Gupta in a press release. “True luxury isn’t perfect; it is intentional. Every piece is crafted to be lived with and passed on.”
The jewellery collection features cocktail rings, bangles, chokers, necklaces, and statement evening bags made in recycled brass and finished with 24 carat gold. The stones used have been kept natural to highlight their imperfect and unique forms and each piece in the collection has been hammered, polished, and engraved by hand.
An eclectic mix of jewels from the collection – Puneet Gupta
Designed to function as wearable art pieces, the colourful jewellery echoes the geometry of Art Deco while incorporating distinctly South Asian imagery such as camels, butterflies, and tassels. Gupta divides his time between his stores in Hyderabad and Delhi and aims to bring Indian artistry to a global audience while crafting a dialogue between designer and artisan.