Dive Brief: The global social commerce industry is expected to grow three times as fast as traditional e-commerce, from $492 billion in 2021 to $1.2 trillion by 2025, a new Accenture report titled “Why Shopping’s Set for a Social Revolution” revealed. The growth will be driven by Gen Z and […]
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Burger King eyes closure of 25 stores as Covid crisis hits fast food
Burger King is preparing to shut some of its UK restaurants as part of a restructuring process triggered by the Covid-19 pandemic, with a goal of opening more drive-through sites. The fast-food giant has enlisted advisers from AlixPartners to review options for one of its subsidiary companies, which directly owns […]
Starbucks leads in forging emotional connections among fast food brands, study says
Dive Brief: Starbucks ranks as the most intimate fast food brand, according to results of the MBLM Brand Intimacy 2020 Study revealed in a press release. Brand intimacy examines how consumers emotionally bond with their favorite brands. Chick-fil-A comes in at No. 2 and McDonald’s No. 3. on the list. […]
Fast and furious: Seoul and Taipei fight virus via central command
SEOUL/TAIPEI — South Korea and Taiwan have won praise and attention for fast and effective responses to the novel coronavirus that have so far allowed them to avoid the sort of damage seen elsewhere despite their proximity to the disease’s original epicenter of mainland China. South Korea has seen over 10,600 […]
Fast Retailing cuts annual profit forecast by 38%
TOKYO — Japan’s Fast Retailing, owner of the Uniqlo casual clothing brand, cut its full-year net profit forecast to 100 billion yen for the year ending August 2020, down 38% from the previous year, as the novel coronavirus outbreak forces it to shutter hundreds of stores worldwide. That is sharply lower than […]
Fast Retailing cuts annual sales forecast by $2.3bn
TOKYO — Japan’s Fast Retailing, owner of the Uniqlo casual clothing brand, cut its sales forecast for fiscal year ending August by 250 billion yen ($2.29 billion) to 2.09 trillion yen, as the novel coronavirus outbreak forces it to shutter hundreds of stores worldwide. The company also downgraded its full-year net profit forecast by […]