Next week will mark 9 years since Springbot was founded! To celebrate, there will be activities all week long focused around our core values. Keep your eyes peeled and join in on the celebration! Also, here are three other things you should know: 1. Google gets a brick-and-mortar. Not to be outdone with Amazon's continued press from online to reality, Google has opened its first retail shop in NYC. The launch of brick-and-mortar retail may seem odd for a company that makes $147 billion in revenue from digital ads. But the store is intended less as a sales generator and more as a brand-building exercise. Some highlights include: a room full of flatscreen TVs for customers to try Google’s Stadia gaming service; something called an “imagination space,” a 17-foot round glass structure where you can experience Google’s latest and greatest services; a showroom for Google’s hardware products, such as Pixel phones. Retail Brew 2. Speaking of Amazon. These days the giant has become known for its products, Bezos going to space, and Whole Foods, but its marketplace is very much alive and kicking. Here’s a crazy stat: Revenue from Amazon’s 3rd-party marketplace accounted for 60% of its retail revenue last year, up from only 3% in 2000. The model is so successful that other online retailers -- including mall-favorite brands like Express, J.Crew, and Urban Outfitters -- want to roll out their version, per The Wall Street Journal ... Sellers on Amazon’s marketplace are finding it to be too competitive. In the article, WSJinterviewed Ken Zhang, the COO of a large Amazon retailer: He’s seen his company’s return on Amazon advertising spend decline by 15%-20% in the past 3 years as the number of sellers has ballooned and competition for all retail categories stiffens. Funny fact: Since the launch of Amazon marketplace, the company’s market cap has grown ~278x. Funny, if like us, you missed those gainz. The Hustle 3. At-home Covid meds are coming. After a country-wide shutdown due to the coronavirus and now with a more transmissible Delta variant looming on the fringes, the U.S. is preparing to arm citizens with everything they need to treat themselves by investing over $3B for the creation of at-home antiviral medication. The $3.2 billion investment will be allocated from the $1.9 trillion coronavirus relief package Mr. Biden signed into law in March. In a briefing Thursday, Dr. Fauci said the funding could accelerate clinical trials “already in progress” for some antiviral pills and potentially make some of them available by year’s end. The oral antiviral medicines would be designed to be taken at home and to treat symptoms early in the course of infection. WSJ Newbies Please welcome Sarah Hux, Jeremy Vandekerkhove and Emily Worley to the sales team!
Fun Facts! Sarah - "I’ve bowled with Justin Timberlake" Jeremy - "After graduating high school I moved to Billings, Montana to play Junior Hockey!" Emily - "I'm getting into mixing and making music; mostly house music, UK Dub, Drum and bass"
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