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☆ This chart shows how crazy-fast the value of Elon Musk's xAI has risen in 16 months
▼ + stars: | 2024-11-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion, 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. So how does that $50 billion compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook. Musk said the process took 122 days — and the startup plans to double the amount of AI chips inside it in the coming months.

Persons: OpenAI, Elon Musk, —, It's, Grok, Musk Organizations: Elon, Perplexity, SpaceX, Twitter, Nvidia

☆ This chart shows how crazy-fast the value of Elon Musk's xAI has grown in 16 months
▼ + stars: | 2024-11-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. Related Video How Elon Musk makes and spends his billionsThe chart below helps put that meteoric rise into perspective. How does that $50 billion valuation compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook.

Persons: OpenAI, Elon Musk, — Organizations: Elon, SpaceX Locations: xAI

☆ Amazon's new discount section 'Haul' looks like a Temu version of Temu
▼ + stars: | 2024-11-14 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

I've gotta say, sadly: It's the Temu version of Temu. It's Amazon's attempt to compete with cheap e-commerce apps like Temu, Shein, and the TikTok Shop. The Haul section of Amazon's app is now in beta mode. The sweater section on Amazon's Haul section has a familiar aesthetic. But for now, to me, it just feels like a sort of crummy version of Temu.

Persons: —, Ava Max, Lady Gaga, It's, Obama, Shein, China — Organizations: Amazon, Service, Apple, Business Locations: Temu, China, Utah

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. This time around, Trump's tariff proposals on Chinese imports could help Amazon in its competition against low-price online sellers Temu and Shein. Salesforce : Not a Trump stock, but it wasn't a Kamala Harris stock either. Constellation Brands : The Mexican beer importer has been punished on fears about what Trump's tariff and immigration proposals could do to its business. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, Donald Trump's, Trump's, Abbott, Trump, Hock Tan, Tan, We'll, it's pricier, Morgan Stanley, Wells, Kamala Harris, Agentforce, That's, Biden, Dover, Eaton's, Elon, Waymo, JD Vance, we've, Linde, that's, Eli Lilly, Robert F, Kennedy Jr, Kennedy, Lilly, Mark Zuckerberg, Zuckerberg, Goldman Sachs, shouldn't, Nextracker, Brian Niccol, Niccol, Stanley Black, Decker, TJ Maxx, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Abbott Laboratories, Abbott Labs, White, Biden, AMD, Trump, Wednesday, Broadcom, VMWare, BlackRock, Costco, Coterra Energy, Coterra, DuPont, Disney, GE Healthcare, GE Aerospace, Google, Honeywell, Elliott Investment Management, Linde, Microsoft, Big Tech, Apple, Meta, Financial Times, Nvidia, Palo Alto Networks, Yum Brands, Taco Bell, Constellation Brands, Management, TJX, Marshalls, Jim Cramer's Charitable Locations: China, India, Missouri, Wells Fargo, BlackRock, Shanghai, Dover, U.S, Palo, HomeGoods

☆ Amazon just released its Temu killer and Bank of America likes the move
▼ + stars: | 2024-11-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bank of America sees Amazon' s discount storefront offering as a beneficial tool in fending off Temu and Shein. The e-commerce giant launched its Haul platform on the Amazon app, exclusively featuring products under $20. Bank of America analyst Justin Post said Temu and Shein's growth over the past year created a headwind of 1 percentage point for Amazon, according to an analysis of Bloomberg Second Measure data. Amazon's new offering comes as retailers have tried to compete with Temu and Shein, which are known for their low price tags. He said Amazon and these other companies could face obstacles if President-elect Donald Trump's proposed tariffs on imports come to fruition.

Persons: Justin Post, Temu, Donald Trump's, Post, LSEG Organizations: of America, Shipping, Bank of America, Amazon, Bloomberg

☆ Everything is under $20 at Amazon’s newest store
▼ + stars: | 2024-11-13 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Amazon is targeting retail rivals Shein, Temu and TikTok Shop with a new deeply discounted storefront that sells a wide array of products for $20 or less. Called “Amazon Haul,” the mobile-only experience debuted Wednesday in the Amazon app and has everything from fashion accessories to home goods, plus clothes and electronics. Amazon said in an announcement that a “majority” of the Haul items are under $10, with some even less than $1. However, the cheap prices come with a caveat that items can take one to two weeks to be delivered. Also, the store only accepts returns on items that are $3 or more.

Persons: Neil Saunders, ”, ” Saunders, it’s Organizations: New, New York CNN, Shein, CNN, Amazon, Consumer Product Safety Locations: New York, United States, GlobalData

☆ Amazon debuts discount store with everything under $20 to take on Temu and Shein
▼ + stars: | 2024-11-13 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon has rolled out a new storefront featuring apparel, home goods, electronics and other items priced below $20, to fend off growing competition from discount upstarts Temu and Shein. Called "Amazon Haul," the storefront is accessible through the company's mobile app, and promises "crazy low prices" on a plethora of goods. CNBC previously reported that Amazon planned to launch its own discount webstore with goods shipped directly from China. With Amazon Haul, the company is responding to the rise of Temu, Shein and TikTok Shop, which all have ties to China, the world's second-largest economy. Amazon is able to offer low prices through its Haul storefront by importing each item directly from manufacturers in China, similar to how Temu's and Shein's business models operate.

Persons: Dharmesh Mehta, it's Organizations: Shoppers, Amazon, CNBC Locations: China, U.S

☆ Kmart has all but disappeared from the US. But its Australian namesake is booming.
▼ + stars: | 2024-11-09 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

AdvertisementThe closure of a Kmart store in Bridgehampton, New York, in October marked the end of an era for the iconic chain. Now, just one Kmart store remains in the mainland US, tucked away inside an At Home store in southwest Miami. "We see this in things such as Kmart hacks," where creators showcase how they use Kmart products in novel ways to help in their everyday lives, Lloyd-Wallis said. A race to the bottomSo far, Kmart Australia has weathered the e-commerce storm, in part thanks to the geographical challenges companies like Amazon face in Australia. It seems, then, that Kmart Australia could find itself in a price race to the bottom.

Persons: —, Gary Mortimer, Mortimer, They've, Ian Bailey, it's, Bailey, we've, Anastasia Lloyd, Wallis, news.com.au, Roy Morgan, Laura Demasi, Roy Morgan's Organizations: Kmart, Service, Walmart, Target, Kmart Group, Queensland University of Technology, National Retail Federation, Kmart Australia, Getty, Retail Doctor Group, Lloyd, Amazon Australia Locations: Australia, Bridgehampton , New York, Miami, Australian, Melbourne, New Zealand, Target Australia, Canada, Singapore, Philippines, Sydney, Kmart Australia

☆ In leaked internal meeting, Amazon retail chief says sales of cheaper items are surging
▼ + stars: | 2024-11-07 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Amazon's sales of cheap items are surging, driven by faster delivery speeds, executive says. Over 50% of those everyday essentials are now delivered on the same or next day, he added. "And these are especially the low-priced everyday essentials, the things that most households purchase every week." The goal has been to not only speed up deliveries, but also make it less expensive for the company to offer faster delivery. 'Real positive'During last month's analyst call, Jassy added that the growth of cheaper items is a "real positive" because it is predicated on faster delivery speeds.

Persons: —, Doug Herrington, Herrington, Amazon's, Andy Jassy, Jassy, Brian Olsavsky, Mark Mahaney, Mahaney Organizations: Service, Business, Reuters, Amazon, HH

☆ Meta set to report Q3 earnings after the bell
▼ + stars: | 2024-10-30 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., arrives for the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 25, 2024. Meta is slated to report third-quarter earnings on Wednesday after the close of regular trading. Meta's results come a day after digital ad companies Alphabet , Reddit and Snap all reported solid quarterly earnings. Microsoft reports after the bell on Wednesday, and the big week for tech earnings wraps up on Thursday, when Apple and Amazon report quarterly financials. If Meta hits analysts' expectations for third-quarter revenue, that would represent 18% year-over-year growth, down from 23% a year ago.

Persons: Mark Zuckerberg, LSEG, Jeff Bezos, Zuckerberg, Bernstein, Meta Organizations: Meta, Inc, Amazon, Bloomberg, Microsoft, Apple Locations: Menlo Park , California, China

☆ EBay stock sinks after company gives lackluster guidance for fourth quarter
▼ + stars: | 2024-10-30 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Shares of eBay slumped about 9% in extended trading on Wednesday after the online marketplace posted its third-quarter earnings and gave guidance for the fourth quarter that fell short of Wall Street's expectations. The guidance trailed the average analyst estimate for fourth-quarter revenue of $2.65 billion, according to StreetAccount. The company also said it expects $1.17 to $1.22 in adjusted earnings per share in the fourth quarter. The company didn't provide clarity on its forecast in the earnings release. GMV, or the dollar value of items sold on eBay's marketplace, grew 2% year over year to $18.3 billion, eBay said, which topped analysts' projected $18.1 billion, per StreetAccount estimates.

Persons: Steve Priest Organizations: eBay, LSEG, LSEG Revenue, EBay, Walmart, Big Tech Locations: China

☆ Smells Like Teen Spirit: Inside Gen Z's Luxury Perfume Obsession
▼ + stars: | 2024-10-29 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +12 min

AdvertisementBehind the booming appetite for new smells is Gen Z. AdvertisementIf there's one thing Gen Z loves, it's a name for something. Under the handle @juliaperfumery, she shares perfume reviews for her primarily Gen Z audience against the backdrop of her New York City apartment's perfume closet. "If there's one thing Gen Z loves, it's a name for something," O'Toole says. There are back-to-school scents, scents to win your ex back, scents to smell like Vanessa Paradis in Paris in the '90s — the list goes on.

Persons: Julia Dovgal, douse, mother's Chanel, Dior, Jo Malone's, Wood, Dovgal, She's, Circana, Gen Zers, Gen Xers, It's, Piper Sandler, Valentino, Jean Paul Gaultier, Maison Francis Kurkdjian's, TikTok, Phlur, —, it's, Juliette, Emelia O'Toole, There's, O'Toole, We've, Vanessa Paradis, Piper, Cathrine Jansson, Boyd, " Jansson, Gen Z, Chanel, Marilyn Monroe, Catherine Deneuve, Nicole Kidman, isn't, Gris Charnel, Jansson, Bella, Susan Wai Hnin, Zers Organizations: Saks, Perfume, Anglia Ruskin University, Urban Outfitters, rockstar Locations: Salt, Bath, New York City, TikTok, New York, Paris, London

☆ Earnings playbook: Busiest week of the season includes reports from megacaps Apple and Amazon
▼ + stars: | 2024-10-27 | by ( Fred Imbert | ) www.cnbc.com time to read: +7 min

Monday Ford Motor is set to report earnings after the bell, followed by a conference call at 5 p.m. What history shows: Bespoke Investment Group data shows Ford beats earnings expectations 68% of the time. What to watch: Meta is in a good spot heading into this week's report, according to Bernstein's Mark Shmulik. Microsoft is set to report earnings after the close, with a conference call on deck for 5:30 p.m. Amazon is set to report earnings after the market close, with a conference call at 5 p.m.

Persons: Edison Yu, Yu, BioNTech, Goldman Sachs, Toshiya Hari, Hari, LSEG, Bernstein's Mark Shmulik, Morgan Stanley's Keith Weiss, AAPL, KeyBanc, Justin Post Organizations: Apple, Ford Motor . Pharmaceutical, Pfizer, Corporate America, Monday Ford, LSEG, Ford, AMD, Cloud Service, Google, Microsoft, Windows, CNBC, Management, Amazon Web Services, Bank of America, Amazon Locations: Temu, .

☆ Bernstein naming Meta the new 'set-it-and-forget-it' stock comes down 2 things
▼ + stars: | 2024-10-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

In the battle of the tech giants, Wall Street firm Bernstein favors Meta Platforms over Alphabet . The analysts raised their Meta price target to $675 per share from $600 and kept their outperform buy rating on the stock. Bernstein acknowledged the valuation of Meta stock versus Alphabet "feels stretched" at the moment. Big picture Bernstein's bullish assessment of Meta's future growth prospects comes as the stock has significantly outperformed both the overall market and Alphabet. META YTD mountain Meta Platforms YTD Before Wednesday's 3% drop in an ugly market, Meta closed Tuesday just 2% off its record close of $595.94 on Oct. 4.

Persons: Bernstein, Meta, Shein, we're, Jim Cramer's, Kamala Harris, Jim, Jim Cramer Organizations: Wall, Google, Meta, Adobe, Facebook, CNBC Locations: Wednesday's, U.S

☆ Micro-trends are taking over social media, and keeping up can be really expensive
▼ + stars: | 2024-10-24 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Fast-moving fashion micro-trends on social media can drive impulsive spending. A novel aesthetic or "-core" circulates on social media every few weeks, prompting consumers to buy in. 'The perfect profitability storm'Fast fashion, social media, and retailers like Shein have together created "the perfect profitability storm for the businesses and influencers using them," said Anthony Miyazaki, a marketing professor at Florida International University. Along with social media algorithms, micro-trends are being fueled by the cycle of doom spending: buying unnecessary stuff to feel better. "While it's easy to get caught up in what others are doing, it's important to remember that not everything is as it seems on social media," she said.

Persons: —, it's, Anthony Miyazaki, Miyazaki, Instagram, Tubefilter, Shein, Elysia Berman, Berman, TransUnion, Dan Pallesen, Pallesen, Bill Ryze, Ryze, Julie Guntrip, influencers, Guntrip, Baeckström Organizations: Service, King's Business School, Florida International University, Federal Reserve, Jenius Bank Locations: London

☆ Why Walmart stock keeps hitting new highs, making the Waltons richer than ever
▼ + stars: | 2024-10-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

Walmart stock has soared 58% this year to record highs, making its founding family richer than ever. Retail legend Sam Walton's three surviving children are each worth more than $100 billion. Walmart and the Waltons have benefited from a signature strategy and cost pressures on consumers. The stock surge has added more than $32 billion to the fortunes of each of founder Sam Walton's three surviving children — Jim, Rob, and Alice. But it's true the vast majority of the family fortune remains in the hands of Sam Walton's children.

Persons: Sam Walton's, —, they're, Jim, Rob, Alice, Elon Musk, David King, who've, King, Art Weinstein, Florida who's, Weinstein, Sam Walton shrewdly, . King, Jeff Bezos, Mark Zuckerberg, Sam Walton, John T, Lukas Walton, it's Organizations: Walmart, Waltons, Service, Bloomberg, Elon, Sam's, Management, Florida State University, Logistics, Procter, Nova Southeastern University, Tech, Tesla, SpaceX, Amazon Locations: Florida

☆ UPS beats quarterly profit estimates, raises operating margin forecast
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: +2 min

(Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images)United Parcel Service surpassed Wall Street estimates for quarterly profit and raised its full-year adjusted operating margin forecast on Thursday after it hived off its volatile truckload brokerage business, Coyote Logistics. The company had slashed its full-year adjusted operating margin target to 9.4% in July, despite an uptick in U.S. volumes because of the shift. It now expects a full-year operating margin of 9.6%. UPS saw a 6.5% growth in average daily volumes in its domestic segment in the third quarter. Its adjusted operating margin of 8.9% was above last year's 7.7%, on cost cuts.

Persons: Lindsey Nicholson Organizations: UPS, Getty Images, United Parcel Service, Wall, Coyote Logistics, U.S . Postal Service, Consolidated, United States Postal Service, FedEx Locations: Queens , New York, U.S, China

☆ ‘Unsafe’ toys being sold in Europe by Amazon, Temu and other online marketplaces
▼ + stars: | 2024-10-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

Lonodn CNN —Some toymakers are “flooding” Europe with dangerous toys via online marketplaces, including magnets capable of puncturing a child’s intestines if swallowed and products containing toxic chemicals, according to an industry body. An Amazon spokesperson said the company has “proactive measures in place to prevent unsafe or non-compliant products from being listed” on its site. The EU has the “strictest toy safety regime in the world” but toymakers from outside the bloc are exempt from EU rules when selling their products via online marketplaces, TIE said. In the United States, too, regulators are concerned about the safety of goods sold online. In September, two officials from the Consumer Products Safety Commission called for an investigation into Shein and Temu over the potential sale of “deadly baby and toddler products.”

Persons: Catherine Van Reeth, ”, Shein Organizations: CNN, Toy Industries of, European Union, EU, Amazon, Consumer Products Safety Locations: Europe, Toy Industries of Europe, United Kingdom, United States, Shein

The vast majority of analysts surveyed by FactSet hold a strong buy or buy rating on the stock. Despite its recent slowdown, analysts surveyed by FactSet have a consensus buy rating on the dominant e-commerce platform. Bullish voices on the stock include Goldman Sachs analyst Eric Sheridan, who recently reiterated a buy rating and $230 price target. JPMorgan's Anmuth is similarly positive on Amazon ahead of earnings, rating the stock overweight and saying it remains the favorite in the bank's firm's internet sector coverage. The consensus FactSet rating on Meta is buy, with an average price target of $604, suggesting just 2.3% potential upside.

Persons: Roundhill, —, selloff, Goldman Sachs, Kash Rangan, Nvidia's Blackwell, Brad Zelnick, Amit Daryanani, Daryanani, Apple's wearables, qtr, Tim Cook's, you'd, Morgan Stanley, Jensen, Blackwell, Biden, Tesla, enthusiam, Elon, Wells, Colin Langan, Department's, Doug Anmuth, Bank of America's Justin Post, Eric Sheridan, Sheridan, Goldman, Anmuth, Baird, Roth MKM, JPMorgan's Anmuth, Goldman's Sheridan, Meta's, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, CNBC, Windows, Investment, Deutsche Bank, Justice Department, Blackwell, Bloomberg, Ford, General Motors, EV, Google, FactSet, Bank of America's, ISI, Walmart, Costco, eBay, Meta, Ray, Labs, Facebook, Temu, Goldman Locations: China, FactSet, ., Downside, U.S, Wells Fargo, American, Meta's Asia, Pacific

☆ Urban Outfitters admits it doesn’t know how to sell to Gen Z. Now it wants to pull off an Abercrombie-like turnaround
▼ + stars: | 2024-10-11 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

Urban Outfitters, the young adult retailer known for its alternative, vintage-inspired styles, learned this the hard way. Urban Outfitters is now staging a turnaround, with the ambition of finding the success of rivals like Abercrombie & Fitch. But while Urban Outfitters may be trying to pull off a turnaround at the same scale is Abercrombie’s, the action points of both differ. Urban Outfitters, meanwhile, has maintained its youthful appearance without doing enough to market toward the high schoolers and college students of today. Urban Outfitters did not return a request for comment on the marketing strategy behind the lower prices.

Persons: ” Shea Jensen, Jensen, —, ” Simeon Siegel, “, ” Siegel, Brandon Bell, Fitch, Jacqueline Babb, Abercrombie, ” Jensen, Urban, Z, Price Organizations: New, New York CNN, Gen, Urban Outfitters, Abercrombie, Fitch, Urban Outfitters Brand, Free People, BMO Capital Markets, Getty, Urban, Northwestern University, CNN, Netflix Locations: New York, millennials, North America, Barton, Austin , Texas, today’s

☆ An analyst is getting cautious on Meta ahead of earnings. The reason is not a surprise
▼ + stars: | 2024-10-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Shares of Meta Platforms are hovering near record highs — but at least one Wall Street analyst is on edge heading into the social-media giants earnings report later this month. "[We] believe buyside expectations for a clean beat and raise quarter have minimal margin of error," Roth MKM wrote. Another reason: Roth MKM believes Temu and Shein are seeing declining importance in using Facebook and Instagram to acquire customers through ads. META YTD mountain Meta Platforms' stock performance so far in 2024. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Roth MKM, Roth, Shein, they've, Jim Cramer's, Jim Cramer, Jim, Porte, Julien De Rosa Organizations: Facebook, Temu, Meta, CNBC, Porte de, Afp, Getty Locations: Asia, Pacific, China, Temu, Europe, Paris

☆ Why health care could be a winner heading into year-end
▼ + stars: | 2024-10-09 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Health care may be the answer, if history is any indication. The Health Care Select Sector SPDR Fund (XLV) has posted a November gain in eight of the last 10 years. Health care trades at a forward price-to-earnings ratio of 22.2, while the S & P 500 has a multiple of 24. The optimism around health care comes as the sector lags the broader market. Some health care names poised to do well, according to Krinsky, are Masimo and Viking Therapeutics .

Persons: What's, Jonathan Krinsky, Krinsky Organizations: iShares Biotechnology, Viking Therapeutics, Viking, Politan, Citi, UPS, Amazon Logistics, Walmart Locations: China

Meanwhile, Jefferies began coverage of Reddit with a buy rating and a price target of $90. Champine said the Federal Reserve lowering interest rates was a driving force for the price target changes. Analyst William Kerr initiated coverage of the pet ecommerce retailer with a buy rating and $38 price target. RBLX YTD mountain RBLX in 2024 — Alex Harring 5:50 a.m.: Citi says UPS is a buy Buy the dip on UPS shares, according to Citi. Analyst Ariel Rosa initiated the delivery giant with a buy rating and a price target of $162.

Persons: Jefferies, Laura Champine, Champine, Helene, Milton, Lowe's, — Alex Harring, Piper Sandler downgrades Blackstone Piper Sandler, Crispin Love, Love, Blackstone, Morgan Stanley, Sanjit Singh, Singh, Alex Harring, TD Cowen, William Kerr, Kerr, Benjamin Soff, Soff, Ken Gawrelski, Gawrelski, Roblox, Ariel Rosa, Rosa, — Fred Imbert, John Colantuoni, Colantuoni, EBITDA Organizations: CNBC, Wednesday, Citi, UPS, Capital, Federal Reserve, Blackstone, Industry, Deutsche Bank, New York Times, Amazon Logistics, Walmart Locations: Wells, China, Tuesday's

☆ Zara's website is a confounding headache — but it's also the secret to its success
▼ + stars: | 2024-10-08 | by ( Maria Noyen | Nora Redmond | ) www.businessinsider.com time to read: +5 min

Zara's website is often ridiculed for being confusing. This helps Zara target aspirational shoppers who can't afford to splurge on high fashion. Luxury giants such as LVMH and Kering have seen sales slow in recent months, in part because aspirational shoppers are being squeezed. Zara stores have a minimalist look. It's reminiscent of the experience of browsing luxury brands online, she says, where customers looking to add a ready-to-wear item to their basket often have to find a boutique where the product is available first.

Persons: —, Zara, Kering, it's, Rober, Tariro Makoni, Makoni, Burberry, Gucci, Carlotto, Omer Messinger, Yves Saint Laurent's, Stefano Pilati, Cindy Crawford, Kaia Gerber, Mike Marsland, Sokolova, Zara ., Crawford, Kaia —, Saint Laurent Organizations: Service, Europa Press, Getty, Business, Sotheby's Institute of Art Locations: Zara, Instagram, Paris, Saint

“When you’re a regular person and you’re going on to your email job during the day and then every time you take a dopamine break on your phone, you’re getting hit by ‘You’re not fashionable enough. Everyone is overconsuming to keep upWhen shopping for clothes, Martinson is almost exclusively a thrifter. “They’re grasping at straws, just throwing something at the wall to see what sticks.”The new mall is TikTok ShopFast fashion was the first harbinger of the death of personal style, Thomas said. If you’re going to buy a clothing item, think of three outfits you can wear it with. Pre-Industrial Revolution habits of secondhand shopping, mending old clothes and keeping things around are coming back.

Persons: Fiza Faheem, ”, Faheem, microtrends, XCX’s, They’ve, Instagram, Dejeuné Harris, you’re, ‘ You’re, it’s, Alana Martinson, Dana Thomas, “, Luke Meagher, Tamika Smith, Harris, I’m, “ I’m, TikTok, ” Harris, Thomas, ” Thomas, “ We’d, Zara …, ” Martinson, Hope, ” Meagher, they’ve Organizations: University of York, Washington , D.C, YouTube Locations: Washington ,, Zara, ”, U.S, TikTok

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