Another week down, another week closer to the holiday season. As Thanksgiving nears, the Retail TouchPoints team will give you the scoop on all things holiday, including predictions and expectations. In the meantime, let’s recap some headlines that have swept through the retail industry the past few days.
Singles Day Takes E-Commerce By Storm: Singles Day sales made through Chinese e-Commerce marketplace Alibaba surpassed $14 billion as of 4 pm yesterday, a 54% boost from 2014 totals. An overwhelming 68% of transactions on the site were made through mobile devices, according to Alibaba.
The shopping day has gained substantial publicity internationally, and is projected to outsell Black Friday and Cyber Monday combined. With the news of these sales spreading throughout the industry, more American brands may want to look at starting Singles Day promotions of their own in 2016!
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H&M To Close Down For Thanksgiving Day: The fashion retailer is the latest to take a stand against Thanksgiving weekend shopping habits, following in the footsteps of REI and Staples. For the first time, H&M will close all its U.S. stores on Thanksgiving Day, giving employees the chance to spend the holiday with their families.
The retailer joins Costco, GameStop, Petco and Sam’s Club in staying closed on Thanksgiving. CNN noted that while these businesses are closing up shop, retailers such as Macy’s, Target and Best Buy will remain open on the day, further illustrating that there are “conflicting trends in the industry.”
Fast Food Workers Across The U.S. Strike Seeking $15 Wage: Fast food workers in more than 270 cities and towns went off the job across the country Tuesday, November 11, as part of a major push toward boosting the national minimum wage to $15.
The question of minimum wages will certainly be a hot button issue in next year’s presidential election, with Democratic candidates Hillary Clinton and Bernie Sanders favoring wage hikes to $12 and $15, respectively. With New York State approving a law to gradually increase the minimum wage for fast-food workers to $15, the wheels may be set in motion for more consumer economy employees — particularly retail workers — to get consideration.
Postmates CEO Sets Sights On “Anti-Amazon” Business Model: Bastian Lehmann, CEO of on-demand delivery service Postmates, is declaring that his business will be the next in line to attempt to take on Amazon. To reach these heights, Lehmann plans on seeking more venture capital funding as early as January 2016. Postmates may have an advantage in reeling in investors as the company is presently making one million deliveries per month at a profit.
After rumors earlier this year that Amazon would look to buy Postmates, the e-Commerce giant started a delivery service of its own, introducing Flex.
We’re only two weeks away from Black Friday! Looking for more news? Check out the Retail TouchPoints web site!
