The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The e-commerce giant will resume holding its big summer sale later this month, after pushing it off last year to the fall because of the pandemic.
Prime Day is Amazon’s annual blockbuster sale. Last year, the company brought in $10 billion during its two-day event, according to estimates from Digital Commerce 360. In recent years, competing retailers have held sales of their own during Prime Day. Amazon creates hype around its event with big promotions and other brands have benefited from the ripple effect, capturing sales from customers who are surfing the web. In 2018, for example, 40 percent of consumers who shopped with Amazon on Prime Day also spent money with competing retailers, according to management consulting firm A.T. Kearny.
”Retail has been gifted a day where shoppers expect to make purchases. Do you stick your head in the sand, or do you say ‘thank you Amazon, which has created a day of purchase intent. Now how do I take part in that?’” Simeon Siegel, analyst with BMO Capital Markets, told BoF.
To learn more about fashion’s Prime Day opportunity, visit BoF’s analysis here.
The algorithms TikTok relies on for its operations are deemed core to ByteDance overall operations, which would make a sale of the app with algorithms highly unlikely.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.