Welcome to this week’s episode of Banknotes news for the week of August 25, 2022. 

Each week we provide a short rundown of what we’re keeping our eye on across eCommerce, retail and the creator economy. You can always check banknotes.co for daily articles and insights from across the industry and subscribe to our channel wherever you download your podcasts.

So here’s what we’re keeping tabs on this week …

Wayfair announces layoffs

Online future giant Wayfair this week announced it was laying off 5% of its workforce, about 900 jobs.

"We were seeing the tailwinds of the pandemic accelerate the adoption of e-commerce shopping, and I personally pushed hard to hire a strong team to support that growth," CEO Niraj Shah wrote in an letter to employees. "This year, that growth has not materialized as we had anticipated. Our team is too large for the environment we are now in, and unfortunately we need to adjust."

This announcement comes on the heels of Canadian DTC furniture leader Article also announcing significant layoffs.

Yeezy Gap merchandising: Insensitive or innovative?

You may have heard a bit about Kanye West going retail and offering his clothing like at GAP.

Well that clothing line showed up not on shelves but in black, garbage-like bags in the stores.

The Internet was flooded with headlines about the Yeezy x Gap clothes in 'trash bags,' so the famous rapper had to address the controversy. According to Ye, those were not trash bags but rather large construction bags, and the clothes were placed inside to make dressing easier for customers. 

Read more over at banknotes.co on whether this is smart merchandising or a social experiment.

Creators without influence can still benefit your brand

In today’s digital age, the term “creator” has been taken hostage by those with a critical mass of followers and who make money exclusively from growing an audience.

But the reality is that being a creator doesn’t mean you have to have hundreds of  thousands of TikTok followers, and being an influencer doesn’t mean you’re qualified to ‘create.’

BANKNOTES writer Ashley Cummings dove into ways brands can work with creators regardless of how many followers they have.

Read more over at banknotes.co

Peloton rides over to Amazon

In a surprise move Peloton has decided to sell its exercise bikes and other fitness products and clothing on Amazon.

After months of mounting losses and supply-chain issues, the deal with Amazon is an effort for Peloton to get itself back on the right track and shore up sales.

“Post-COVID, the retail environment is continuing to evolve, and that’s something that we’re trying to understand better to make sure the Peloton of the future is calibrated appropriately for that,” Peloton Chief Commercial Officer Kevin Cornils told CNBC. “We want to make it as easy as possible to get a Peloton.”

Don’t forget to sign up for the upcoming BANKNOTES webinar, which will unpack how to get started on market research.

Join BANKNOTES editor in chief Ian Leslie as he speaks with Rachel Swanson, founder & principal at Method + Mode.

Swanson will discuss the importance of market research and how best for any business, regardless of size, to get started with a research project. Sign up for the webinar at banknotes.link/webinars 

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See you next week.