The pandemic led to widespread disruptions across the world’s supply chains, leading to inflation and higher prices for many commodities. In response to these increasing costs, some companies have elected to reduce the size of their packaging rather than raise prices. For instance, Walmart shrank its Great Value paper towel rolls from 168 sheets to 120 sheets while the Tillamook County Creamery Association reduced its family sized ice cream containers from 56 ounces to 48 ounces. 

“Consumers check the Continue reading

Continue reading...

Nearly a month after a cyberattack on Colonial Pipeline led to gasoline shortages across the nation, this week hackers targeted and shut down some operations at JBS, the world’s largest meat supplier. Like the previous incident, the perpetrators infiltrated the company’s computer systems and demanded a ransom to unlock them. Although JBS said that its systems are coming back online, it nevertheless had to halt operations at processing plants throughout the U.S. and Australia as a result of the attack. Continue reading

Continue reading...

The Swedish company IKEA is famous across the globe for its meatballs and its wide array of furniture that customers must assemble at home. This video looks at how the retailer encourages sales by creating the “IKEA effect” with its winding floor plan that causes customers to snake through a series of product showrooms. 

Questions:

  1. What sort of strategies does IKEA use to keep costs low?
  2. How does the “IKEA effect” encourage customers to purchase furniture and home goods?
Continue reading...

Although the U.S. is averaging nearly 2 million Covid-19 vaccinations per day, the rate has certainly slowed down since last month’s daily average of 3.3 million vaccinations. 60 percent of the population has received at least one dose, but that still leaves tens of millions more who need to get their shots before the country hits herd immunity. According to a recent survey, worries about taking time off of work is one of the major reasons why many Americans have Continue reading

Continue reading...

As warmer weather returns throughout the country, many Americans are stepping out of their heavily used kitchens and heading back to restaurants. According to data from the review site Yelp, restaurant reservations are up 46 percent compared to 2019 and a whopping 23,000 percent compared to last year near the start of the pandemic. The reservation site OpenTable reports similar surges in restaurant traffic as more people receive vaccinations and restrictions ease across the country. 

“States that had restrictions Continue reading

Continue reading...

In 2018, the telecommunications conglomerate AT&T purchased the media company Time Warner for a whopping $85 billion. Along with placing the telecom giant in prime position to reshape the entertainment world, the enormous price tag associated with this deal also saddled AT&T with a huge amount of debt. The company hoped that streaming services like HBO Max would bring in new customers and revenue streams that would justify its massive investment.

Three years later, however, it appears that AT&T’s merger Continue reading

Continue reading...

As the pandemic forced millions of people to stay indoors, virtual worlds like Roblox boomed in popularity with gamers as well as investors. This video looks at how the platform appeals to more than 30 million active monthly users, including independent creators who can earn big bucks by building games within Roblox. 

Questions:

  1. Why did games like Roblox explode in popularity last year?
  2. What sort of challenges does Roblox face as it looks to expand its user base?
Continue reading...

Last week, hackers began a ransomware attack on the Colonial Pipeline, a major conduit that supplies nearly half of the East Coast’s oil. The hack completely shut down petroleum transportation as the Colonial Pipeline Company “proactively took certain systems offline to contain the threat, which has temporarily halted all pipeline operations, and affected some of our IT systems.” Although the company expects to have most of its capabilities returned by the end of the week, the shutdown has resulted in Continue reading

Continue reading...

The widespread disruptions caused by the pandemic resulted in millions of Americans losing their jobs last year and subsequently applying for unemployment benefits. In one especially bleak week in spring 2020, new unemployment claims topped out at more than six million as businesses locked down to prevent the spread of coronavirus. Although the amount of new claims steadily began to decline after this historic high, hundreds of thousands of Americans have nevertheless applied for unemployment week after week since the Continue reading

Continue reading...

At the beginning of the year, we looked at how an explosion in demand for consumer electronics led to a shortage of microchips across the globe. This semiconductor shortfall has continued in the intervening months and its impact has spread across numerous industries. Along with preventing carmakers from installing vital microchips in vehicles, the shortage has also hindered production of iPads, farming equipment, and even dog grooming machines. 

“This particular problem affects all aspects of manufacturing, from little people Continue reading

Continue reading...