Retail

The 'no card, no checkout' cashless culture is going to hurt the homeless and elderly

The 'no card, no checkout' cashless culture is going to hurt the homeless and elderly

In 2018, online retail conglomerate Amazon opened its first GO store to the public — the first real example of a cashless store in action, sparking off a wave of inspiration for the likes of Everlane at their NYC location, the Sam’s Club Now store in Dallas and even United and Delta ticket counters at airports. But ‘cashless culture’ will have repercussions for the homeless and elderly — two groups of people who are more likely to be without a bank account and therefore, less likely to have access to a credit or debit card to pay.

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Forget Black Friday — Single's Day is the biggest shopping event in the world

Forget Black Friday — Single's Day is the biggest shopping event in the world

When midnight hit on 11 November, the world’s biggest shopping event began — not Black Friday as some people might rightly assume, but Single’s Day, a Chinese shopping extravaganza. Started in 1993 as a day for university students to celebrate being single, it was then soon promoted by Alibaba’s Tmall service, transforming into a massive 20-day shopping festival.

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The economics of Nike's Air Jordan product line, explained

The economics of Nike's Air Jordan product line, explained

The Air Jordan line started in 1984 when basketball player Michael Jordan signed a deal with Nike to launch a lineup of shoes, offering him $250,000 to be associated with the brand. Though Adidas offered him double that amount of money, he stuck with Nike — they had offered him a percentage of the revenue of the shoes and promised that if he didn’t earn $3 million in the first 3 years of the partnership, he could exit the deal. This series of shoes is a main driver in Nike’s massive profits, and it’s clear that the deal is still paying off for both parties more than three decades later. Nike reporting sales of the Jordan brand separately for the first time in 2016, growing by 18 percent to $2.8 billion during that year.

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