Report: Online Prices Fall 2.6 Percent in June, a 36-Month Low
Adobe reported in its Digital Price Index (DPI)* that online prices in June 2023 fell 2.6 percent year-over-year (YoY), the most significant decrease since May 2020, when prices fell 1.5 percent YoY.
NRF: Back-To-School Shopping Expected to Reach Record Levels
Back-to-school spending is expected to climb 12.4 percent while back-to-college shopping will increase about 27 percent this year as both tiers reach recording spending levels, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.
Quality Bicycle Products Cuts U.S. Work Force
In response to an over-inventoried supply chain that continues to pressure the bike industry, Quality Bicycle Products reported that it reduced its U.S. workforce by 5 percent on July 12. The workforce reduction reportedly affected multiple departments.
Dr. Martens Sees EMEA and APAC Offsetting Americas Declines This Year
Dr. Martens plc said sales since the start of its fiscal year ended March 31, 2024, are in line with plan, with strength in the EMEA and APAC regions offsetting declines in the Americas. The footwear brand forecasted “meaningful improvement” in its DTC revenue in the Americas region in the fiscal second half.
Diddy Launches Online Marketplace for Black Entrepreneurs
Sean “Diddy” Combs launched Empower Global (EG), an e-commerce platform for selling products created and sold by Black entrepreneurs.
Authentic Brands Group Names Chief Financial Officer
Authentic Brands Group (Authentic) named Kevin Wills as chief financial officer. Wills is based in the company’s New York headquarters and reports to Founder, Chairman and CEO Jamie Salter.
Western Mountain Destinations See Pick-Up in Summer Bookings
Summer is in full swing in mountain communities focused on hiking, biking, paddling and outdoor concerts, with a handful of resorts still offering limited skiing and riding. Positive economic news in June spurred an uptick in summer bookings, according to DestiMetric’s most recent monthly Market Briefing.
PickUp USA Basketball Gym Expands in Colorado
PickUp USA Fitness opened its latest club in the Denver market featuring multiple basketball courts and a full fitness room. Founded in California in 2012, PickUp USA is the largest basketball gym chain in the U.S.
VanMoof Explores Sale Under Court Protection
Dutch e-bike manufacturer VanMoof reportedly applied to a local Dutch court and received an official suspension of payment provision to avoid bankruptcy proceedings while pursuing options to reduce debt, including a sale.
Fanatics to Enter Sports Collectibles Events Business
Fanatics has partnered with IMG, the sports, events and talent management company, to launch Fanatics Events, a platform that will recreate the Comic-Con experience for sports collectibles.
Amazon Sees ‘Biggest Ever’ Prime Day
U.S. online sales rose 6.1 percent to $12.7 billion during Amazon’s Prime Day two-day sales from July 11- 12, according to Adobe Analytics, which measures transactions at U.S. retail sites. Amazon called the first 24 hours of Prime Day the “single largest sales day in company history,” but did not disclose total sales.
Jacob Grey Firearms Adds Central U.S. Rep Agency
Jacob Grey Firearms hired Outdoor Outfitters Group as a manufacturer sales rep for the Central United States.
Deloitte: BTS Spending Expected to Decline as Inflation Takes its Toll
Deloitte’s 2023 back-to-school survey found that spending for K-12 students is expected to decrease 10 percent to $597 per student. Deloitte also found that after 18 months of inflation, higher prices weigh on K-12 families preparing for the upcoming school year.
Outdoor Market Alliance Names New Board President
Outdoor Market Alliance (OMA), Denver’s outdoor industry hub, named Steve Copeland as board president.
Target Names New Chief Marketing Officer
Target promoted Lisa Roath to chief marketing officer, overseeing core marketing functions, including creative, guest marketing strategy, retail brand experience, social media, paid media and marketing strategies, and operations.
