The Average TikTok Shopper Is Not Who You Think It Is
Recently, TikTok has been in the news for its heated fight with the US Government and its threats to ban the app should they not be able or willing to sell it to a different party, and breaking links with ByteDance, TikTok’s parent company. Regardless of what happens next, it’s impossible to deny the hold the app has on its users, especially with hashtags like #tiktokmademebuyit. But what are they buying on the social media platform? And who is doing all of these purchases?
Mango Turns to Adaptable Clothing
In the face of climate change, the Spanish fashion retailer is focusing on transitional pieces and adaptable clothing to help customers cope with changing weather patterns.
VF Downgraded by S&P
VF Corp has been downgraded by S&P after posting negative sales growth for the second quarter in a row. Vans is leading sales decline for VF, but the pressure to offload other underperforming brands is mounting, and activist investors are pushing for not just “non-core divestitures”, but also aggressive cost-cutting.
MyTheresa Sees Strong Growth in Q2
Online luxury retailer MyTheresa is staying strong through the industry’s upheaval and spree of mergers and acquisitions.
Net sales grew by 8.3% in Q2, with the US market exceeding performance expectations, which indicates the return of American aspirational consumers