![]() Amazon's clever little scheme not only made customers see the difference in prices but also served as a valuable source of information on retail store prices. Early in December, Amazon promoted a mobile app that buyers could use to get a special discount on if they used the app to scan an item while in a competitor's store. Of late, online retailer Amazon has been giving all brick-and-mortar stores a run for their money. More competition in the online retailing jungle ![]() However, lower profit was the price the company had to pay. On the bright side, it did result in increased traffic and comparable-store sales, coupled with a significant increase in online revenue growth. In fact, the sector as a whole is seeing more price competition, as retailers push further with more promotions and discounts to attract penny-pinching, price-conscious consumers.īest Buy's CEO said the company resorted to these measures to shore up revenues and market share. When a shopper's paradise becomes a retailer's nightmareĪ major reason for Best Buy's poor profits are the aggressive advertising and pricing it adopted to compete with players such as Costco (Nasdaq: COST - News), hhgregg (NYSE: HGG - News), Wal-Mart (NYSE: WMT - News), and especially (Nasdaq: AMZN - News). Comparable-store sales, on the other hand, rose by just 0.3%, mainly driven by sales of mobile devices, including tablets, e-readers, appliances, and movies.īest Buy's aggressive Black Friday promotions, coupled with free shipping for online purchases, caused the company to pay a steep price in the form of a 29% cut in net income from the prior year's quarter. The retailer's revenues increased by 2% from the previous year's quarter to $12.09 billion. Can the company stay afloat as it tries to keep up with its competitors? "Empowering investors to make informed decisions about social and environmental impact is a real differentiator.Best Buy (NYSE: BBY - News) disappointed analysts when it came out with third-quarter profits that were significantly lower than expected because of aggressive pricing and promotional activity. "The sustainable investment market is already more than one third of total global assets and growing rapidly," Jimi Macdonald, investor for SoftBank Investment Advisers, said. The latest fund raise comes after BlackRock, the world's biggest asset manager, in January took a minority stake in Clarity AI, with a plan to integrate it into its portfolio management system, Aladdin.Ĭlarity AI has also struck deals with other fund platforms including Allfunds, the world's largest global fund distribution network.Ĭlarity AI said the money raised in the Softbank-led funding round would be used to develop its technology, hire staff and expand into new countries and market segments. ![]() "The social and environmental challenges the world faces and the corresponding economic opportunities unlocked have put impact assessment at the forefront of the minds of investors and organisations." "Our technology shows our clients how their investments and other organisations are impacting the world," Clarity AI founder and Chief Executive Rebeca Minguela said. Vision Fund 2 and its predecessor Vision Fund 1 have a reputation for backing companies perceived as leaders in their field by providing large cheques that can enable them to scale quickly.Ĭlarity AI uses big data and machine learning to help clients customise analysis on 30,000 companies, 135,000 funds and 375 countries and local governments. ![]() Softbank's Vision Fund 2 currently has around $40 billion in committed capital from the company and its founder Chief Executive Masayoshi Son. So far, more than $30 trillion has been invested in major markets using some form of sustainability strategy, the Global Sustainable Investment Alliance has found. The appetite for reliable data is growing as companies are increasingly graded on their sustainability credentials and regulators in Europe and elsewhere begin to demand clarity in formal disclosures about the impact of business activities on the environment and society. The $50 million funding round, completed in August, also included Fifth Wall Climate Technology Fund and Jony Ive, Apple's former chief design officer, and other existing investors including Deutsche Boerse. LONDON - Softbank Group Corp's Vision Fund 2 has led the latest funding round for sustainability data technology platform Clarity AI, alongside existing investors including BlackRock, valuing the start-up at $450 million, its founder told Reuters. ![]()
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