As home improvement spending surges, Home Depot hit their highest quarterly sales yet. Revenue for the period increased to $28.11 billion topping the $27.84 billion analyst forecasted.
In June, Americans signed more contracts to buy homes, snapping a three-month decline in pending sales. That same month, U.S. sales of new homes rose slightly, a sign that more would-be buyers are seeking newly built properties. In May U.S. home prices reached a new high for the sixth straight month.
The migration to the skies represents the latest volley in a clash between Walmart and Amazon to grab shoppers’ attention, loyalty and dollars.
The world’s largest retailer has applied for a U.S. patent for a floating warehouse that could make deliveries via drones, which would bring products from the aircraft down to shoppers’ homes.
The blimp-style machine would fly at heights between 500 feet and 1,000 feet (as much as 305 meters), contain multiple launching bays, and be operated autonomously or by a remote human pilot. Amazon was granted a patent for a similar vessel in April 2016.
Estée Lauder is tackling the market from all angles by embracing the opportunities in China. After opening its own e-commerce sites for its top three brands (Clinique, Estée Lauder and Mac), the company turned to Alibaba’s consumer marketplace.
They launched brand storefronts where shoppers can browse brand content and purchase items directly through the site.
Dennis McEniry, president of the brand’s online business, said “China is a unique market. Product preferences and descriptions used in marketing are different. Social media and influencers are important, but the way to navigate that space is nuanced.”
Can fast fashion companies keep up with the growing e-commerce competition? Analysts argue, they aren’t moving fast enough.
H&M and Zara-owner Inditex disrupted the fashion industry with lightning-fast production, trend-led products and a vast retail footprint. But today a new wave of digital disruption is coming from e-commerce players like Asos, Boohoo, Zalando and Amazon, and the fast-fashion behemoths are being uncharacteristically slow to catch up.