Thanks to the popularity of streaming services like Spotify and Apple Music, some lucky musicians can go viral and attract large fan bases very quickly. In the past, artists often had to tour across the country for years playing small clubs before they got noticed by major record labels. That’s not the case these days, though. For instance, the teenage singer-songwriter Billie Eilish released her debut album less than a year ago and has already sold out a stretch of Continue reading
Major conglomerates like Procter & Gamble, Kimberly Clark and Georgia-Pacific earn more than $31 billion annually from toilet paper sales. But while this industry is certainly lucrative, it’s not exactly innovative. After all, one of the few significant developments these companies have made in recent decades is to sell larger rolls. Brands such as Charmin and Quilted Northern treat their products like commodities, meaning that they compete primarily based on price. By concentrating on value, the biggest names in toilet Continue reading
Airbnb has grown into a multi-billion dollar company by providing people with an online platform where they can temporarily rent out their house or apartment to guests. Although this app has changed how millions of people travel, it’s also generated a lot of controversy since launching more than a decade ago. In some popular travel destinations, landlords have displaced longtime residents in order to make room for as many Airbnbs as possible. As a result, cities like London and Barcelona Continue reading
With Halloween done and the pet costumes put into storage, retailers across the country are now preparing for a surge of holiday sales that will arrive at the end of the month. During this vital sales period, companies can see their online orders grow tenfold as consumers grab all sorts of items for the holidays. As a result, many retailers and logistics firms bring on seasonal workers to provide additional assistance for this busy period.
Along with hiring lots Continue reading
The last couple of years have not been kind to brick-and-mortar retailers: since 2017 more than 50 companies have gone bankrupt and 21,000 locations have closed across the country. Instead of heading out to stores, many modern consumers now depend on Amazon for their shopping needs. Along with providing convenience, the e-commerce giant also offers everyday low prices as well as major sales events like Prime Day. In response, many traditional retailers have started offering deep discounts in an effort Continue reading
When Apple launched the iTunes store in 2003, the music industry was not in a good state. Rampant online piracy sent CD sales plummeting and caused many to wonder whether record companies could compete against the freedom of the Internet. Fortunately for the industry, the iTunes strategy of selling individual songs for just 99 cents made buying digital music mainstream and limited the reach of piracy. The app also drove sales of the iPod, which was Apple’s signature product at Continue reading
In recent years food delivery startups like Postmates and Doordash have grown into multi-billion dollar operations by bringing takeout from all sorts of places directly to customers’ doors. But these companies don’t just service restaurants: people can also order everyday items from Walgreens or 7-Eleven and receive them hours later. Of course, consumers are more familiar with Postmates and Doordash as takeout services, not grocery delivery companies.
As a result, both startups are brokering deals with retailers and supermarkets Continue reading
In the early 2000s, fast fashion brands like Zara and Forever 21 exploded in popularity by providing the latest trends at cut-rate prices. But while the former continues to thrive, this week Forever 21 announced that it would declare bankruptcy after years of declining sales. Along with closing up to 178 stores in the U.S., the retailer will also cease operations in more than 40 countries. Hundreds of domestic locations, as well as Forever 21’s website, will remain open. “What Continue reading
This week Netflix announced that it spent $500 million to acquire the streaming rights to Seinfeld, which broadcast its last episode way back in 1998. While it may seem strange to spend so much money on a decades-old show, Netflix is far from the only streaming service to splash cash on a classic sitcom. Along with paying $425 million for Friends, HBO Max also acquired the streaming rights to The Big Bang Theory for $1 billion. Meanwhile, NBC-Universal Continue reading