Post-Halloween scaries… shipping delays. Holiday spending is expected to smash records this year, but retailers are sweating to meet demand. Nearly everything is in short supply, and materials and labor costs are surging. Amazon paid the price last quarter when profit plunged by nearly half from last year. The ’Zon expects to face billions in extra costs this quarter to hire 310K seasonal staff, among other costs. Meanwhile, Target, Amazon, Best Buy, and Walmart launched Black Friday sales early to ease delays.
Ask app not to track… Big Tech earnings are over, but fallout from Apple’s privacy change isn’t. Facebook’s ad-sales growth majorly slowed from the previous quarter (33% growth vs. 56%). Facebook and Snap blamed Apple’s iOS update — which lets users opt out of ad tracking — for the disappointing numbers. Google, Twitter, and Amazon weren’t as affected. To position itself for growth, Facebook is becoming a “metaverse company” (new name: Meta). The metaverse could be a hub for virtual interaction and commerce, from VR shopping to games. Read: less reliance on iPhone ad $$.