When the pandemic hit, businesses immediately felt the pain as many had to shut their doors. Even the ones that were able to stay open had to quickly figure out how to make drastic changes to the way they served their customers and protected their employees from the spread of Covid-19.
Restaurants and coffee shops remained open, but in many cases, only for take-out or drive-thru service. Remarkably, many have managed to keep going, but only after a very harsh reality check. Starbucks, for example, says it lost about $1.2 billion in sales due to limited operations, reduced hours, and even closures.
Still, the company reported its quarterly earnings last week and managed to exceed expectations largely due to a decision it made years ago. Analysts had expected Starbucks to earn $6.06 billion, but despite the decrease in customer traffic due to the pandemic, the company’s generated $6.2 billion for
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The following is a preview of the Holiday Shopping 2020 Report.
Retailers are bracing for a softer holiday season due to the pandemic. They will see, however, a major shift to ecommerce this holiday season.
US holiday ecommerce sales will surge over 35% this year.
US consumers will spend $190.47 billion this year on holiday ecommerce purchases, up 35.8% and representing an incremental $50 billion in sales versus 2019. In-store holiday sales will decline by 4.7% to $822.79 million. But online gains will entirely make up for these losses, resulting in growth of 0.9% for total holiday season sales, to $1.013 trillion. (Note: We define holiday season sales as those occurring in November and December.)
According to the latest research from Strategy Analytics, premium smartphone models will capture a record 80 percent marketshare of all smartphone revenues generated in Western Europe in 2021. Soaring 5G adoption and a new wave of affordable-premium handsets, such as Apple iPhone SE, will drive the premium smartphone category to an all-time high next year.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201026005153/en/
Figure 1: Western Europe Smartphone Revenue Forecast by Wholesale Price-Tier: % of Total (Graphic: Business Wire)
Boris Metodiev, Associate Director, at Strategy Analytics, said, “We estimate premium smartphone models accounted for 73 percent of all smartphone wholesale revenues generated in Western Europe during 2019, rising to a forecast 77 percent in 2020, and a record 80 percent in 2021. Premium models completely dominate the smartphone revenue landscape across Western Europe.”
Linda Sui, Director at Strategy Analytics, added, “The premium smartphone market in Western Europe