2080����

Good afternoon,

Here’s the headlines for this week: 14 March 2024

ECOMMERCE

• President Trump's recent statements about an impending 'transition' in the U.S. economy have raised investor concerns, leading to significant declines in stock markets. ​
• The ambiguity surrounding potential economic shifts has contributed to increased market volatility, with major financial institutions reassessing recession risks.

CONSUMERS

• Looking for sales or coupons is the most popular way consumers plan to deal with potential price increases, according to the same data.
• 95% of consumers worldwide would exchange their personal data for discounts or coupons, according to August 2024 data from Marigold.

TECH

• Brands' engagement with TikTok has decreased, with usage dropping from 88% to 73% among brands and retailers, and those allocating marketing budgets to the platform falling from 87% to 70%.
• The looming U.S. ban on TikTok has led to reduced marketing spend and a reevaluation of the platform's effectiveness for conversions and branding.

• TikTok plans to expand its local services in the U.S. by hiring staff to connect local merchants with creators, aiming to bolster its positive impact on local businesses.
• This strategy is part of TikTok's efforts to strengthen its position amid ongoing legal challenges that threaten its U.S. operations.

• Amazon Web Services (AWS) has established a new group dedicated to developing agentic artificial intelligence, aiming to enhance automation for users without the need for prompts.
• Swami Sivasubramanian, previously vice president of AI and data, will lead this initiative, reporting directly to AWS CEO Matt Garman.

RETAILERS

• U.S. retailers are expected to maintain elevated import volumes in the coming months, a strategy to mitigate the impact of ongoing tariff uncertainties.
• This proactive approach aims to ensure inventory levels remain stable despite potential supply chain disruptions from new tariffs.

• Using its 4,700 stores and Spark driver network, Walmart now delivers to 93% of U.S. households, doubling deliveries to five billion items last year.
• Walmart leverages low-cost grocery delivery to attract online shoppers, boosting sales of higher-margin products like clothing and home goods.
• While Amazon dominates e-commerce, Walmart’s fast delivery and premium offerings are drawing high-income shoppers, making it a serious challenger.

• In response to new U.S. tariffs, Walmart has requested Chinese suppliers to reduce prices by up to 10% to keep consumer prices low. ​
• This move underscores Walmart's efforts to manage costs amid escalating trade tensions.

• Target significantly reduced its Black History Month posts on Instagram from eight in previous years to just one this year.
• This reduction follows the company's recent decision to scale back its diversity, equity, and inclusion initiatives, leading to public criticism.

• Walgreens Boots Alliance has agreed to be acquired by Sycamore Partners for approximately $10 billion, transitioning the company to private ownership after nearly a century.
• The acquisition aims to provide Walgreens with the flexibility to restructure and address financial challenges away from public market pressures.

See you next week,

The 2080���� Team

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