Major Brands Miss Sustainability Targets: The Week in Retail

Social media expert José Torres emphasizes the importance of a robust social media strategy in boosting revenue, particularly for companies in the e-commerce sector. Despite such strategies, Stand.earth's 2024 Clean Energy Close Up report reveals that major brands have failed to meet their carbon emission targets. Meanwhile, Estée Lauder has completed its acquisition of DECIEM Beauty Group.

Read more this week in retail!

Social Media a Driver For E-commerce

Lievant’s José Torres shares with MBN how the company assists clients in broadening their market share through business intelligence, data analysis, and active management. By leveraging data-driven insights and adapting strategies to changing consumer preferences, Lievant helps clients maximize the effectiveness of their digital businesses, optimizing performance and expanding market presence. 

Fashion Industry Fails to Meet Decarbonization Targets

Stand.earth's 2024 Clean Energy Close Up report reveals that major fashion brands are lagging in reducing emissions and transitioning to renewable energy, with most scoring below 25 out of 100 points. Levi's, Puma, and H&M stand out as the only brands on track to achieve a 55% reduction in manufacturing emissions by 2030, while Shein's rapid growth raises concerns, with its emissions increasing by nearly 50% in a year. 

Estée Lauder Completes Acquisition of DECIEM Beauty Group

Estée Lauder Companies has finalized its acquisition of DECIEM Beauty Group for US$860 million, marking a total investment of approximately US$1.7 billion in the Canadian-based skincare company known for its innovative and affordable products like The Ordinary. This acquisition enhances Estée Lauder's presence in the affordable skincare market and expands its brand offerings to cater to a broader consumer base, amidst a reported 5% increase in sales for the company.

Retailers Boost Experience, Efficiency with Fintech Integration

The integration of fintech solutions in retail enables enhanced customer experiences, streamlined operations, and expanded financial service offerings, contributing significantly to sector growth. By leveraging credit gateways and technologies like AI, retailers personalize credit offerings, impacting sales positively and transforming transactions across the commercial value chain, while challenges such as electronic payment adoption costs persist, despite advancements.

Zara Broadens Live Shopping Reach Beyond China

Zara plans to expand its successful live shopping broadcasts from China to the United Kingdom, Europe, and the United States this year, aiming to introduce Western shoppers to the format that has significantly boosted sales in China. These broadcasts, which feature Chinese models showcasing products in a conversational and leisurely style, are set to roll out between August and October following their success on Douyin, TikTok's Chinese counterpart.