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| Here’s your daily business briefing. - 💻 Intel challenges Nvidia, AMD with new AI chip
- 📱 Deep Dive: TikTok influencing Gen Z spending
- 🎯 Target extends hours for last-minute holiday shopping
Make sure to continue reading the Quarterly Earnings Report and the Quick Hits. Thanks! Shriram
p/Shriram | |
| 1 | | Intel has revealed new computer chips, including the Gaudi3 AI chip for generative AI software, challenging Nvidia and AMD. Gaudi3, set to launch next year, competes with Nvidia's H100 and AMD's MI300X, while Intel also introduces Core Ultra chips for faster AI program execution in Windows laptops and PCs. More: - With his statement, "We think the AI PC will be the star of the show for the upcoming year," Intel CEO Pat Gelsinger highlights the significance of AI.
- The Core Ultra chips, constructed using a 7-nanometer technology, have better graphics performance and power efficiency.
- The announcement of Intel's fifth-generation Xeon server CPUs, aimed at cloud providers and large enterprises, highlights their suitability for artificial intelligence inferencing.
- The strategies align with Intel's plan to overtake Taiwan Semiconductor Manufacturing Co. by 2026 regarding chip manufacturing capabilities.
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What the numbers say: Gen Z women, constituting 75% of TikTok users, significantly impact spending trends, evident in popular hashtags like #TikTokmademebuyit with over 8 billion views. This influence is reflected in a 99.3% surge in nonmortgage debt among Gen Zers, averaging $10,797, marked by spikes in personal loans and credit card balances from March 2021 to Q1 2023. Relevance: TikTok, predominantly used by Gen Z women, is a significant driver in shaping consumer behavior and influencing spending choices. Influencers on the platform, often from the same age group, present aspirational content, potentially fostering increased spending and financial risk among Gen Z women. More data: Social media, particularly TikTok, fosters a contemporary "keeping up with the Joneses" culture, inducing FOMO despite economic challenges. Experts advise young women in their 20s to be cautious of social media displays of wealth, prioritize avoiding credit card debt, and plan for long-term financial goals amid a wage gap of 78 cents for women in 2022. | | | |
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| 3 | | Target has extended store hours from 7 a.m. to midnight at most locations until Dec. 23 to accommodate last-minute holiday shoppers, offering late discounts on popular brands like Apple, KitchenAid, Meta, Disney, video games, holiday decor, and apparel. Same-day delivery through Shipt is available until 4 p.m. on Christmas Eve, while Target's Drive Up and Order Pickup services are open until 6 p.m. for convenient same-day pickup. More: - The retailer features a selection of gifts, including unique Stanley collection pieces, cosmetic products from Fenty Cosmetic, and partnerships with stores like Marks & Spencer.
- Target targets the December holiday shopping market, given that 49% of U.S. consumers plan to make most of their purchases during that month, as per a Shopify-Gallup survey.
- Target allocated $100M towards expedited delivery services, encompassing the expansion of Starbucks Drive Up service to every shop featuring a Starbucks cafe.
- Target is implementing fulfillment upgrades and extended services in line with its objective to improve consumer convenience over the Christmas season.
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| 4 | | Campari is in talks to acquire Beam Holding France, owner of Courvoisier cognac, for $1.32B, with a fixed price of $1.20B and a potential additional payment of up to $120M in 2029 based on achieving sales targets. Courvoisier, founded in 1828, holds historical significance as the official supplier to the House of the Emperor, appointed by Napoleon III. More: - In 2022, Courvoisier recorded net sales of $249M, with the U.S. accounting for over 60% of sales, followed by the U.K. and China.
- Referred to be the greatest deal in the history of the Campari Group, Campari views the acquisition as a singular opportunity to broaden its offerings in cognac and luxury spirits.
- In addition to offering long-term transformational potential in the strategically important Asia-Pacific area, the acquisition is anticipated to enable a considerable expansion in the U.S. market.
- According to Campari, the transaction will close in 2024, although the signing is pending consultation with representatives of the French workforce.
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| 6 | | China has become the world's largest market for branded coffee shops, surpassing the U.S., with a 58% growth in the past year, totaling 49,691 outlets. Starbucks, the second-largest coffee brand in China, expanded with the opening of 785 outlets during this period, while Luckin Coffee, despite a fraud scandal and Wall Street delisting, remains China's leading coffee chain with a presence exceeding 13,000 outlets. More: - In a survey of 4,000 Chinese coffee shop consumers, over 90% drink hot coffee weekly, 64% consume iced coffee at least once a week, and all visit or order from a coffee shop weekly.
- With significant investments, including Starbucks' $200M campus, China is emerging as a significant player in the global coffee market.
- By 2025, Starbucks hopes to have 9,000 locations in China because the country continues to be a major source of growth for the coffee brand.
- Starbucks' CEO, Laxman Narasimhan, highlights that the country, which has traditionally been a tea-centric one, is still in the early stages of coffee consumption and that the company still has room to develop.
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| 7 | | Quick Hits: - The Kubernetes Cookbook is your comprehensive companion, equipping you with the knowledge and techniques to harness the full potential of Kubernetes.*
- Shein is being sued by rival Temu, alleging aggressive and unlawful tactics to stifle competition, heightening their battle for supremacy in the U.S. bargain shopping market.
- WeightWatchers is transforming into a brand for Ozempic users, introducing a new membership plan for those on GLP-1 prescription drugs like Ozempic and Wegovy, commonly used for weight loss.
- A U.S. labor agency is pushing Starbucks Corp to reopen 23 stores closed last year amid allegations of thwarting a nationwide union campaign, intensifying accusations of illegal labor tactics against the coffee chain.
- Vivendi is considering a split into three businesses centered around Canal+, Havas, and an investment company.
- Savvy billionaires are hedging their portfolios with farmland. New REIT goes public, and stock price increases 12.20% in its first quarter opening.*
*This is a sponsored listing. | | | |
 | Freelance Writer | | Shriram is pursuing Master’s in Business with Marketing at Warwick Business School. He worked as a Senior Consultant in Tech and Political Consultancies before his Masters. He is passionate about Tech, Marketing, Strategy, Anthropology and Politics. He is also the Postgraduate Ambassador for Warwick Business School. | | This newsletter was edited by Aaron Crutchfield | |
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