Retail Sales Surge Higher Than Expected, Threatening to Ignite Inflation
U.S. shoppers eagerly reached for their wallets and credit cards in December, spending far more than expected, according to Commerce Department statistics on Wednesday. U.S. retail sales rose 0.6% from the previous month, well above expectations for a 0.2% increase. Compared to the previous year, sales increased by 4.8%. Sales of cars and trucks drove […]
Retail sales rise faster than expected in December
National Retail Federation CEO Matt Shea analyzes consumer spending and the retail industry as shoppers hit stores across the country for Black Friday. Americans picked up spending in December during the crucial holiday season, even though they still faced high interest rates and soaring prices for everyday goods. retail salesThe Commerce Department said Wednesday that […]
Solo Corp. Dumps CEO After Snoop Dogg Ad Campaign Fails to Bring Sales
Solo Brands has fired its CEO after a major Solo Stove ad campaign featuring rapper Snoop Dogg failed to generate sales. The company launched a high-profile ad campaign in November that outraged social media users after Snoop Dogg said in a video that he had decided to “quit smoking.” Many interpreted this as the 52-year-old […]
Google lays off ‘few hundred’ from ad sales team as employees grumble
Hundreds of Google employees have reportedly been informed of the planned layoffs, days after the search giant announced it would cut at least 1,000 jobs. Google's chief business officer, Philip Schindler, circulated a memo to employees on Tuesday announcing that “hundreds” of employees on the ad sales team would lose their jobs. According to Business […]
Diamond prices slashed up to 25% as sales slump
Diamond giant De Beers has slashed the price of its precious solitaires as sales plummet as bargain-hunting fiancés increasingly opt for cheaper lab-grown gemstones. Prices for certain categories of larger De Beers mined diamonds have been reduced by up to 25%. bloombergsaid a person familiar with the matter. The category, called “Select Makeables,” includes large […]
EVs make up less than 2% of used car sales across EU states
Electric cars are not selling well in Europe's used car market, with consumers concerned about a lack of charging stations and a lack of range. Report by European independent media Euractic He said the European Union's largest electric car market is not seeing numbers close to what would be expected in the used car market. […]
Inflation Figures Could Be Tarnished in the Soot of Early Holiday Sales
Wall Street may be underestimating inflation of consumer inflation report This week could reverse the consensus view that the Fed will start cutting rates in the first quarter of this year. The Ministry of Labor is expected to release a report on this issue. consumer price index (CPI) in December. Wall Street expects inflation to […]
South Korea Passes Law Banning Dog Meat Sales
Dog meat has officially been taken off the menu in South Korea after lawmakers approved a ban on its sale on Tuesday, Semaphore reported. The ban is expected to come into effect in 2027, after decades of campaigning by animal rights activists to save the lives of dogs. semaphores. As Korean culture modernizes, only 5% […]
Electric Vehicle Sales Slump to Just a Quarter of New Purchases
Sales of electric vehicles (EVs) will account for only a quarter of new purchases in 2023, according to UK data, despite the demands of a combination of environmental lobbyists and government policy. Consumer rejection of EVs poses a challenge to the electric vehicle market and to the government's goal of net-zero carbon emissions by 2050. […]
Soda taxes made sugary drink sales fall and prices rise in cities that tried them, study finds
Lensi denounces soda tax Sales of sugar-sweetened beverages fell by about a third in five U.S. cities after taxes on sugar-sweetened beverages began, according to a study released Friday. A study published in JAMA Health Forum found that cities' soda taxes pushed up the price of sugar-sweetened beverages (SSBs) and continued to reduce sales, just […]