Starbucks Coffee Company has finalized its joint venture with private investment firm Boyu Capital, selling control of its China operations, the coffee giant’s second-largest business. Under the terms of the agreement, which was announced in November and has a value of about $4 billion, Boyu and Starbucks will operate a joint venture, with Boyu holding up to 60% interest and operating the approximately 8,000 Starbucks stores in China. Starbucks will retain a 40% interest in the joint venture and will continue to own and license the brand and intellectual property to the new entity.

The latest analysis of the effects of invalid traffic/IVT estimates that the problem will result in $72.37 billion in wasted ad spend in 2024 — up 33% from an estimated $54.63 billion wasted in 2022. The report, from marketing efficiency platform Lunio, was based on an analysis of 2.6 billion paid ad clicks and 104 billion impressions from more than 60,000 ad accounts across Lunio’s clients — all resulting from paid media campaigns — conducted between May 2022 and May 2023. The analysis found 8.5% of all paid traffic, and one in every 11.7 paid-traffic website visits, to be invalid.

After a soft start in January, headwinds persisted for many brands in February. Retailers faced a challenging environment as consumer confidence continued to decline amid ongoing uncertainty surrounding tariffs and the U.S. economy. Overall, sessions rose by 2.32%, but conversion challenges remained, with orders down -9.05% and demand falling -7.6% compared to February 2024. Apparel, outdoor, and specialty brands struggled, while home retailers saw gains in orders and sales. Brands of all sizes are feeling the impact of slowing consumer demand. Consumer confidence is at its lowest level since June 2024, and economic uncertainty is likely to continue. Brands that adjust pricing strategies, strengthen customer engagement, and highlight value will be better equipped to navigate uncertainty and capture opportunities in the coming months.