Alibaba Group cashed a record 213.5 billion yuan ($30.7 billion or £23.8 billion) in sales on Sunday during its 24-hour online retail frenzy Singles’ Day, but the event’s annual growth dropped to its slowest-ever rate.
Adobe has released its US online retail forecast for the holidays, highlighting an expected decline in revenues achieved via marketing through social channels, as well as the rise of mobile shopping and blended retail.
UK consumer confidence has dropped again with a one point fall in the Consumer Confidence Index to -10, a sign of the increasingly chilly economic environment that’s helping to keep fashion sales muted at present
Lululemon filed a lawsuit in US federal court in Chicago against alleged counterfeiters in China and abroad. The lawsuit alleges groups and individuals are selling knockoff product online through unauthorized websites.