Retail recorded nearly 40 CEO exits through July

The apparel sector shows strong demand compared to other industries experiencing subdued or stable demand. Despite this, all sectors saw increased consumer engagement in June. The rise in website sessions, alongside flat demand, indicates heightened consumer interest. However, fewer orders may reflect economic uncertainties despite a 3.38% increase in average order values from the previous year, suggesting cautious consumer spending. Businesses should adopt strategies to capitalize on consumer engagement while navigating economic challenges for sustained growth. Economists anticipate a slowdown and speculate on potential Federal Reserve interest rate cuts by September. The upcoming 2024 presidential election introduces financial and investment uncertainties, with J.P. Morgan Wealth Management discussing these implications and emphasizing sector-specific impacts like finance and healthcare. Despite short-term market volatility, the long-term effects of elections on markets and the economy remain unpredictable, urging investors to maintain a stable, long-term financial strategy.

Customer acquisition costs are rising and hurting profitability for brands, according to a new study by SimplicityDX. Merchants are now losing $29 for every new customer, compared with $9 in 2013 — a 222% increase. Moreover, the study points to estimates that acquisition costs have risen by 60% in the past five years. And marketers have been affected by such complications as these: *The introduction of iOS 14.5 *The demise of third-party cookies *Increased consumer privacy legislation such as CCPA and GDPR

Jimmy Zollo, the co-founder of Joe & Bella, thought India could be a viable alternative for the online retailer’s China-made socks. The company explored moving production there, drawn by lower costs and a perception that the country was politically “safe” from steep taxes enacted by the Trump administration. “Pricing seemed great,” Zollo said. “We actually were probably, in the next few weeks, planning on getting a few prototypes made to see if the quality hit our standard levels.” Then came the tariff news. With little warning, the Trump administration doubled duties on Indian imports to 50%, up from 25%, as part of a push to curtail the country’s purchase of Russian oil. The new rate is scheduled to go into effect on Aug. 27. The higher rate, combined with manufacturing timelines in India that were five times longer than those offered by Joe & Bella’s existing partners in China, quickly erased any potential savings.  The company scrapped its India tests. Although Joe & Bella previously manufactured some goods in Vietnam, the company has now consolidated all manufacturing back to China — for simplicity’s sake, according to Zollo. “Anyone could get hit at any time for any reason,” he said. “Sometimes the safest move is just to stay put.”