Startup Tucson, Vantage West and the University of Arizona's Terry J. Lundgren Center for Retailing are teaming up to create "Tucson Shops Tucson," an online marketplace to host and support local businesses in a new digital economy. While the online shop is aiding those local businesses negatively impacted by the COVID-19 pandemic, Startup Tucson hopes it will continue to support and teach local business owners even after the virus subsides.
Tucson Shops Tucson opened its doors today, and features more than 80 products and experiences from local businesses. These include art prints, soap, clothing and dishware, as well as tickets to classes and visits to destinations like Hotel McCoy.
In case you are keeping track:
Yunji Challenged To Grow Marketplace Revenue In 2020 (NASDAQ:YJ) | Seeking Alpha
My bias on the stock is Neutral until the firm can prove its ability to materially grow revenue in its marketplace segment.
Yunji ( YJ ) went public in May 2019, selling 11 million ADSs for $11.00 each for gross proceeds of $121 million.
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In 2019, YJ changed its business model to focus on marketplace revenue instead of on membership revenue, creating a large reduction in revenue.
Hangzhou, China-based Yunji was founded in 2015 to develop a social e-commerce platform in China with a focus on the various daily product needs of its users and their households.
Fed announces $2.3 trillion in additional lending - Marketplace
Federal Reserve Chairman Jerome Powell says the Fed’s role is to “provide as much relief and stability as we can during this period of constrained economic activity.”
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Doubling down on chocolate bunnies - Marketplace
Businesses across the country are struggling to keep employees on the payroll. At Portland, Maine-based chocolatier and truffle maker Dean’s Sweets, however, workers have been able to keep working some hours — even as the business faces a precipitous drop in sales.
“We’re down 75%, as a guess,” co-founder Kristin Thalheimer Bingham told “Marketplace.”
The company traditionally makes chocolate bunnies for the Easter holiday. This year, Thalheimer Bingham and her husband Dean decided their employees should make “as many as they possibly can.” Sustained production has allowed Dean’s Sweets to keep its employees working.
Not to change the topic here:
Zoom therapy in a pandemic - This is Uncomfortable from Marketplace
She’ll still help you dive into childhood trauma and process feelings, but it’s centered on your relationship with money. Financial therapy is a relatively new field. It became a thing during the 2008 crisis, when patients started asking therapists for guidance about money and financial planners found themselves doling a lot of emotional support.
“Parallel to what we’re going through today,” McCoy said. “Financial stress became much more in the forefront of everybody’s mind.”
Boston Fed president: "Social distancing is expensive" - Marketplace
While the COVID-19 pandemic continues to put pressure on the entire financial system, economists grapple with trying to prevent economic collapse, while simultaneously putting tools in place for recovery, in case that collapse comes to fruition.
“Marketplace Morning Report” host David Brancaccio spoke to President of the Federal Reserve Bank of Boston Eric Rosengren, who said that recovery may be a ways away and depends on when we get a vaccine.
With trade shows canceled, which digital marketplace will step up?
The race to develop a digital marketplace for suppliers and retailers in the gift and home trade is heating up. At least two more companies are entering the field of virtual online buying and selling platforms, while those already in the game are stepping up their efforts. In a time when in-person commerce is at a standstill, the stakes couldn't be higher.
At the recent January trade shows, two well-established industry players— International Market Centers , which owns the Atlanta and Las Vegas market facilities, as well as much of High Point's real estate; and Brandwise , a longtime digital processing service—both announced that they were entering the virtual ordering space.
For steel business, pandemic poses new kind of uncertainty - Marketplace
Uncertainty is no new entity for the steel industry, which faced all sorts of ups and downs during the trade war with China. And now, the industry is facing a new type of uncertainty from the COVID-19 outbreak.
Marketplace host Kai Ryssdal checked in with Lisa Goldenberg, the president of Delaware Steel Co. in Fort Washington, Pennsylvania, about what it’s been like to run her business amid the coronavirus pandemic.
Goldenberg told Kai that one of her biggest challenges right now is planning and logistics. She explained it’s tough to operate a national business when states are following different precautionary measures to slow the spread of COVID-19. “It’s very difficult to operate without a uniform experience,” she said.
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