L'Oreal focuses on men with move into Asia, Middle East | Nestle's Q1 soars past analysts' projections | China forecast to see $3T in e-commerce sales in 2024
L'Oreal is focusing on South Asia Pacific, the Middle East and North Africa, a market that company executives call SAPMENA, where 40% of consumers are under the age of 25. The region is also a hot spot for beauty products for men as more became aware of their appearance during the pandemic.
Engage seamlessly across marketing and commerce See how Salesforce Customer 360 connects marketing and commerce interactions to create personalized marketing engagement. Watch the demo
Nestle's first-quarter organic sales growth of 7.7% is more than double the increase projected by analysts, with coffee, dairy and pet care units leading the strong quarter. The Swiss company's Nespresso unit helped to grow e-commerce sales by 40%.
A shift to online shopping and buy now, pay later models are growing China's e-commerce market, which is expected to reach $3 trillion by 2024, according to GlobalData. Consumer spending decreased almost 4% in 2020, but e-commerce sales jumped 14.8%.
Mexican luxury retailer El Palacio de Hierro saw a 26% drop in sales in 2020 and is banking on a new push to boost sales. Competitor Liverpool is also hoping to propel revenue with a new campaign that emphasises diversity and Mexico's culture.
Pinterest is expanding its Shopify partnership with the addition of 27 countries for a total reach of 1.7 million merchants and giving them access to dynamic retargeting and multifeed support for catalogs. Pinterest reports its platform catalog feed uploads increased by more than 14 times worldwide for the year ending last month, and Shopify noted social commerce channel installs increased 76% between February 2020 and February 2021.
A new artificial intelligence tool, dubbed Clair AI, allows consumers to price luxury retail items by snapping and scanning a picture. ReCommerce's Rebag is using Clair AI for secondhand purses but expects to extend its use to other high-end products.
Diane Keaton and five other celebrities are showcasing four of Gucci's most iconic handbags such as the Jackie 1961 purse in a parody talk show-type advertising campaign. James Corden hosts the mock show while the stars model the handbags.
Mother's Day spending is expected to total a record $28.1 billion this year, up $1.4 billion from 2020, according to the annual survey released by the National Retail Federation. This year consumers plan to spend an average of $220.48 on Mother's Day items, $16 more than they planned to spend last year and the highest in the survey's history. Learn more.
