Black Friday and Cyber Monday are two of the biggest shopping holidays in the United States. Brand Innovators Chief Marketing Officer Ted Rubin explains how this shopping holiday is evolving.
Rubin says his biggest takeaway from Black Friday is that "simplicity is the key." Retailers and consumers are expanding this holiday into more than just a day. It is imperative retailers make consumers' lives easy, says Rubin.
Another retailer in the spotlight is Dick's Sporting Goods. In November, shares jumped more than 20 percent. Third Quarter revenue was up more than 7 percent, but the growth was driven by store expansion rather than growth in sales at existing locations. The company's new ad campaign touts its growing store footprint this holiday season. Rubin says its important to understand the need to change business models and move beyond the brick-and-mortar experience by offering perks such as free shipping.
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
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