KHD Buzz – Walmart Still Interested in TikTok Buyout, Deloitte Predicting Slower Holiday Shopping Season and More
Report: Consumers Cut Back on Spending in August
According to a report from the Commerce Department, consumer spending decreased in August. With 30 million Americans still unemployed this is likely because the $600 weekly unemployment subsidy expired in July. It was replaced by a $300 weekly supplement, which was not available in all states, and funds for the program are expected to run out this month. Read More
Walmart Still Wants to Invest in TikTok
Although it’s joint bid with Microsoft to buy the video platform TikTok failed, Walmart isn’t giving up on the idea. They now plan to try to forge a partnership with Bytedance, the platform’s current owner, directly. Read More
Deloitte: Expect Bleaker Holiday Sales
According to a predictive report from Deloitte, US retailers should be bracing for a less than stellar holiday shopping season. Read More
Could the Holiday Shopping Season Begin on 10/10/20?
The start to the holiday shopping season could be October 10, or 10/10/2020, according to global consultancy Berkeley Research Group, following the example of the Alibaba Group groups blockbuster Singles Day on 11/11, 10/10 as it also has a repeating number and it’s on a Saturday.
It could also be a great day for Amazon’s delayed Prime Day. But are retailers ready to get off to such an early start? Read More