In today’s ExchangeWire news digest: shopping on TikTok by UK consumers soars 553% over the past year; GameAnalytics launch GameIntel, a mobile intelligence platform to give publishers greater market insight; and consumer goods firm Perch have become the fastest company to achieve unicorn status in the US after a $775m Series A round.
Shopping on TikTok has exploded in popularity in the UK over the course of the pandemic, rising by an eye-watering 553% over the past year according to research from Bazaarvoice's Influenster. The short-form video platform's staggering growth bests that of their closest competitors by some margin, with Facebook seeing shopping increase by 160% and Instagram by 189% over the same period.
Two dentists buy Leominster shopping plaza for $5.8M | Worcester Business Journal
Two Central Massachusetts dentists have purchased four buildings at the Leominster Commerce Center, located at 463-477 Lancaster St. for $5.8 million in a sale closed May 12, according to NAI Glickman Kovago & Jacobs, which brokered the deal.
All four buildings are fully leased with long-term tenants, according to NAI Glickman Kovago & Jacobs, the Worcester real estate brokerage.
Costco is proof that in-store shopping is far from over — Quartz
As the worst of the pandemic ebbs in many countries, big-box retailers whose sales soared amid lockdowns and social distancing are getting a glimpse of what the "recovery" might do to their continued growth. For Costco, all signs point to success—as shoppers feel more comfortable going out in the world, a good number are spending money at Costco in person.
On Thursday, the company reported earnings for the 12-week quarter ended on May 9. Sales increased 21.7% over the previous quarter, with net sales totaling $44.4 billion. Its e-commerce sales still grew 41% this quarter, but that growth was slower than in previous quarters.
Ross and Five Below sign leases at Indian Hills Shopping Center | Local | northwestgeorgianews.com
National retailers Ross and Five Below have signed leases at the Indian Hills Shopping Center, according to a release.
Two major retail chains are heading to Calhoun, according to a release from Halpern Enterprises, Inc. Thursday.
Ross will occupy 18,000 square feet and Five Below will occupy 8,880 square feet at Indian Hills, a 133,130-square-foot shopping center at 429 Highway 53. Both retail brands are expected to open in Spring 2022.
Capital One Shopping helps you save money and time online | Computerworld
People spend plenty of money shopping online these days. According to one estimate from Digital Commerce 360 , Americans spent $861 billion online in 2020, up an incredible 44 percent from 2019. Obviously, the pandemic played a significant role in this increase since it forced many people to stay home and shop online instead of in person.
This shopping trend in the digital age probably doesn't come as a massive surprise to you. After all, you have a passion for computer technology and know first-hand how impactful it is in shaping many, if not all, aspects of our society. But, since online shopping is now so deeply entrenched and widely accepted, why then isn't its counterpart of online saving? In other words, while most online shoppers know there are certain days of the year (e.g., Cyber Monday, Black Friday, Prime Day, etc.
Hobby Lobby, Discount Tire plan to move into River Landing Shopping Center | News |
Hobby Lobby and Discount Tire are moving into River Landing Shopping Center soon, according to Max Gansline with TSG Properties, a real estate firm that manages River Landing.
"We're thrilled to welcome Hobby Lobby and Discount Tire to River Landing," Gansline told the Press Thursday morning. "And (we're) excited those businesses are coming to the Montrose community."
Sandy Head, Montrose Economic Development Corporation executive director, said Hobby Lobby is going to be useful for Montrose residents and that Hobby Lobby is a good store to fill the vacant building left by J.C. Penney.
Gap raises 2021 forecasts as apparel shopping gains momentum | Reuters
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A sign hangs outside a GAP clothing retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS/Mike Segar
The San Francisco-based retailer's shares, which have gained nearly 75% this year, rose 2% in extended trading on Thursday after Gap swung to a first-quarter profit.
Since last year's low, Chief Executive Officer Sonia Syngal has worked to revive the company's brands through celebrity partnerships, including those with rapper Kanye West's Yeezy and Olympic gymnast Simone Biles, and a focus on online selling.
Judge tosses shopping mall's pandemic coverage lawsuit | Insurance Business
A Florida federal judge last week granted Great American E&S Insurance’s motion to dismiss the lawsuit of a shopping mall seeking coverage for its COVID-19-related losses.
“This vague allegation is insufficient to state a claim as it does little to explain the basis for coverage,” the judge said.
Coral Ridge owner and operator Andrew D. Gumberg said in his suit that the mall was closed from March 23, 2020, and only partially reopened in May 2020. In between those dates, Gumberg maintained that his business incurred damages resulting from federal lockdown restrictions.
Analyzing foot traffic in pandemic year provide insights into shopping trends - Furniture Today
HIGH POINT — When the COVID-19 pandemic swept across the globe a little more than a year ago, it brought unprecedented challenges and changes to the furniture industry, affecting manufacturers, retailers and especially consumers.
The past year has been marked by a series of unpredictable market down-turns/up-turns caused by widespread economic hardship, taxing store restrictions, supply chain complications and more. For retailers assessing their store operations and weighing significant business decisions, it has been difficult to know how to anticipate these developments, and there are many unanswered questions.
Begin hurricane season prep by shopping local during sales tax holiday beginning May 28 | Palm
The official start of hurricane season will be here rapidly, and Flagler officials are urging residents to prepare early by shopping locally and taking advantage of the upcoming sales tax holiday.
Governor Ron DeSantis signed legislation Friday, May 21, designating a 2021 Disaster Preparedness Sales Tax Holiday from Friday, May 28 through Sunday, June 6 – over a full week.
“We ask residents to have a number of emergency supplies ready, and this is the perfect time to buy what you need or replace anything that may be out of date,” said Emergency Management Director Jonathan Lord. “Remember to test things like flashlights and replace outdated batteries.”
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