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Inflation Pressure
Sean H. & Jocelin A.
July 09, 2024 • Estimated Reading Time: 10 minutes
TLDR
MARKET RECAP → The S&P 500 (VOO) reached a new record on Tuesday after Federal Reserve Chair Jerome Powell cautioned against the risks of maintaining high interest rates for an extended period.
ETSY'S STRATEGIC SHIFT → 🛠️ Etsy ditched the mass-market race to embrace its artisan roots, boosting seller tools and sustainable growth, aiming to stand out from the competition while supporting creative entrepreneurs globally.
INFLATION PRESSURE HITS FOOD GIANTS → 🥤 Fast-food prices soared, with Chipotle (CMG), Walmart (WMT), and McDonald's (MCD) hiking costs dramatically, leaving consumers (and their wallets) outraged as even basic items became pricier.
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TODAY’S TOP NEWS
Etsy's Strategic Shift
🛠️ Refocusing on Artisan Quality: Etsy decided to pivot away from mass-market tactics, emphasizing unique, handmade goods to reclaim its artisan roots. This shift aimed to distinguish Etsy from competitors and restore its original brand identity.
📈 Boosting Seller Support: Etsy introduced new tools and resources to help sellers optimize their listings and improve visibility. These included better keyword strategies and enhanced SEO practices, making it easier for sellers to reach their target audience and increase sales.
🌍 Sustainable Growth Focus: Etsy also committed to sustainable practices, both environmentally and in terms of business growth. This involved supporting small businesses globally and ensuring the marketplace remains a platform for creative entrepreneurship.
TODAY’S TOP NEWS
Inflation Pressure Hits Food Giants
🛒 Walmart faced backlash for raising prices despite its efforts to keep costs down. Consumers felt the pinch as even essential items became more expensive, drawing criticism from various quarters.
🌯 Chipotle’s price hikes over the past decade were significant, with menu items increasing by up to 75%. The cost of popular items like burritos and guacamole soared, reflecting the broader inflation trend in the fast-food industry.
🥤 Other chains like McDonald’s saw even steeper increases. Menu prices at McDonald's have doubled since 2014, outpacing general inflation and prompting widespread consumer discontent.
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