0.8%
The amount by which consumers stepped up spending in July 2023, according to new data from the U.S. Commerce Department. This 0.2% increase over June represents the highest rate of consumer spending since January.
$730 million
The total dollar amount of plant-based meat sales to restaurants and other food service institutions in 2022, up 7.8% from 2021, per a new report from the Good Food Institute.
$1.4 billion
The amount The LEGO Group just announced it will dedicate to funding environmental sustainability over the next three years, tripling its previous investment. The toy manufacturer pledged to achieve net-zero emissions by 2050.
$1 billion
The amount JCPenney plans to reinvest in its business by fiscal year 2025 as part of its ongoing turnaround plan, according to a company statement. The retailer also announced its intention to strengthen inclusivity and community in its messaging as part of its “Make It Count” campaign, which is focused on “making fashion accessible, offering a compelling loyalty program, supporting varied local and cultural communities and reinforcing a commitment to positive change,” Marketing Dive’s Peter Adams reports.
61%
The percentage by which Lululemon’s revenue increased in China in Q2 2023, per CNBC. The athletic apparel retailer continues to outpace Wall Street expectations, and the majority of its planned 35 new stores will be in the China region.
80%
The percentage of Fortune 500 companies with registered ChatGPT accounts, according to data from OpenAI, the creator of ChatGPT. This information comes as OpenAI has announced the release of ChatGPT Enterprise, a new tool designed specifically for businesses.
33%
The share of consumers who buy food items based on whether or not it’s a good deal, according to a new survey from Kearney Consumer Institute. That’s compared to 22% who report buying items because they are essential, 27% who buy because they see it as a treat or reward, and 18% who buy based on the brand.
50%
The amount by which PepsiCo has increased its global first-party customer data records over the last 18 months, according to Adweek.
$29 billion
The annual global retail sales that Authentic Brands Group will reportedly bring in following the company’s acquisition of Boardriders, according to Retail Dive. The acquisition adds brands such as Quiksilver, Billabong, Roxy and DC Shoes to Authentic’s collection of 50-plus brands.
47.6%
The level at which the Institute for Supply Chain Management’s (ISM) Purchasing Managers’ Index (PMI) registered in August, signaling the 10th consecutive month of contraction in the manufacturing sector, per the latest Manufacturing ISM Report on Business. A reading of 50% or lower is indicative of economic contraction.
81%
The share of parents who believe brands care more about their data than their experience, according to McCann Worldgroup’s “Truth About Modern Families” study, per Ad Age.
