Consumers are feeling gloomy about the economy. Here’s why they’re spending anyway at CNBC. “Marcus Feldman, a biotech project manager from Cambridge, Mass., said he will spend about 15% more this year on the holidays…“Every headline says people are scared to spend,” he said. “Then I walk down [one of Boston’s major shopping streets] Newbury Street on a Saturday and it’s shoulder-to-shoulder.” Read more

 

US retail sales were little changed in October at Bloomberg. “The value of retail purchases, not adjusted for inflation, was essentially unchanged after a revised 0.1% gain in September, according to a Commerce Department report that was delayed due to the government shutdown. Excluding auto dealers and gasoline service stations, sales increased 0.5%.” Bloomberg subs.

 

The US gained 64,000 jobs in November but lost 105,000 in October; unemployment rate at 4.6% at AP

 

US tariffs are having an uneven effect on holiday prices and purchases at AP. “Game and toys were particularly susceptible to tariff-related price increases…Dean Smith, who co-owns independent toy stores JaZams…said the manufacturers in China that he buys toys from did not pass on their tariff costs all at once but he has seen their prices inch higher with every reorder…” Read more

 

The Cult of Kohl’s Cash at WSJ. “Kohl’s Cash is fast becoming part of popular culture, much the way Bed Bath & Beyond’s “Big Blue” oversize 20% off coupons were a touchstone before the retailer filed for bankruptcy. In a video that went viral, NFL quarterback Kirk Cousins appeared on ESPN and showed off a necklace the retailer made for him that looks like a Kohl’s Cash coupon.” WSJ subs.

 

The World’s Most Powerful Women 2025 at Forbes : McLay #25 / Tome #26 / Adamo #70 Top 100 list

 

How agentic commerce could disrupt online retail at GeekWire. “I am shocked at the promises versus reality,” said Emily Pfeiffer, a principal analyst and digital business expert with Forrester. Still, the builders we spoke with see the current moment as the beginning of a fundamental shift. “I think this is much bigger than even the invention of the online store,” said Jonathan Arena, co-founder of e-commerce AI startup New Generation.” Read more

 

Interim Kroger CEO Buys $11.5 Million Boston Home From Former Celtics Co-Owner at WSJ. “The buyer is Ron Sargent, the interim chief executive of supermarket chain Kroger and a former CEO of Staples, records show. There were multiple bids, and the property went into contract within four days, said listing agent George Sarkis…” WSJ subs.

 

Poshmark, Inc. Appoints First Chief Revenue Officer “Elizabeth Von der Goltz joins Poshmark with more than two decades of global experience in fashion, luxury, and e-commerce…held senior leadership roles at Bergdorf Goodman…served as Global Buying Director for Net-a-Porter …” Press release

 

Amazon Built a $60 Billion Ad Business Using Adtech Firms and Agencies. Now Some Say They’re Getting Squeezed Out at Adweek. “For years, Amazon has relied on close partnerships with retail-focused adtech companies to grow its burgeoning ad business…Now, some of those tech firms and agencies see signs that Amazon is pulling away from third parties to instead work directly with advertisers, according to six sources that Adweek spoke to.” Adweek subs.

 

Breach at Coupang, South Korea’s Equivalent of Amazon, Exposed Data of Almost Every Adult at WSJ. “Tens of millions of South Koreans saw their names, phone numbers and other sensitive information leaked in a breach that went undetected for months…The saga at Coupang led to the resignation last week of the CEO overseeing operations in South Korea…” WSJ subs.