Amazon reportedly plans 10K layoffs, with a focus on retail; Fitch downgrades Party City as maturities loom; Nike launches marketplace to collect virtual products; StockX removes ‘Verified Authentic’ tags
Diving deeper into digital worlds, Nike announced today that it's launching a Web3-based marketplace called .Swoosh for virtual goods like jerseys and shoes. Shoppers using it will also be able to gain access to physical goods and events as a benefit.
That adds it to a list of brands experimenting with physical tie-ins for their digital efforts, a trend I explore more deeply here. Despite the metaverse and Web3 being elusive concepts to many, brands continue to put money into such spaces. I explore an emerging pattern across the industry where retailers are attaching real-world benefits to their virtual activations. I chatted with several experts about how the metaverse can best be utilized by retailers and if near-term revenue is feasible.
Brands are diving into virtual environments to connect with young consumers. But are these digital spaces just billboards for brands, or can they have tangible benefits?
The party goods retailer is fast losing any financial cushion, its turnaround is uncertain and restructuring is “probable,” Fitch analysts said last week.
Oracle Retail consumer research found that price will be paramount this holiday season as shoppers are increasingly worried about inflated costs and tighter budgets.
In a recent survey of retailers, 50% said they now offer product protection plans, with nearly 20% planning on adding them in the new year. Find out what is driving this trend in this new playbook.
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Dani James 
