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Post-it, Sharpie makers announce layoffs
Stephen Babcock
January 26, 2023
It’s an active week for consumer goods companies. Johnson & Johnson is on track to spin out its consumer health business, and Kimberly-Clark has plans to up ad spend this year. Meanwhile, 3M and Newell Brands are the latest to undergo a round of job cuts as consumers pull back.
In recent years, retailers doubled down on the power of direct relationships with consumers through marketplaces. Open Book Coaching’s Bill Fotsch sees a new wave emerging: Brand manufacturers are developing their own direct-to-consumer channels to more deeply understand their end customers through data. – Inc.
PayPal is making a move into the headless market through an integration with Bold Commerce. The companies are going to market with a single offering for checkout and payment that allows merchants to accept PayPal, Venmo and more. Checkout can be embedded on blogs, social and QR codes.
While the economic forecasts are getting cloudier, key data continues to point up. This morning, fourth-quarter GDP came in only slightly below the third quarter, and consumer spending increased 2.1%. Meanwhile, inflation was down markedly to 3.2% from 4.8% the prior quarter. It completed a reversal to the positive in the second half of 2022 after two straight quarters of decline. – CNBC
Spending on Valentine’s Day is expected to rise to $25.9 billion, up from $23.9 billion in 2022, according to a National Retail Federation survey. Online will be the top shopping destination, with 35% of people turning to ecommerce. This comes as the share of people signaling they will gift experiences rose to its highest level since at least 2017.
Tweet of the Day 🐦
Hick's law applied to E-commerce.
Are you familiar with Hick's law?
Netflix has been using it forever.
And you can apply it to your E-commerce as well.
Start with the problem: time.
THREAD 🧵
— Filippo Bova (@BovaFilippo)
6:02 PM • Jan 16, 2023