This week's marketing winners, losers and newsmakers.
Sunny D: With a single Tweet about nothing, the beverage marketer got brands buzzing on Tuesday. The tweet, which encouraged brands “to reply to this tweet for no reason,” saw engagement soar with over 300 responses from Twitter regulars like Steak-umm.
Department stores: Macy’s and Kohl’s both reported strong earnings and an expected surge in holiday sales. Macy’s reported a revenue rise of 36% to $5.4 billion for the third quarter, while Kohl's third quarter revenue grew 16% to $4.6 billion. Despite supply chain woes and inflation, consumers are still expected to spend this holiday season, with a record increase predicted by the National Retail Federation. Already, many Black Friday-themed deals and promotions have been released..
Cryptocurrency: After more than two decades as the Staples Center, the Los Angeles arena will be known as Crypto.com Arena, thanks to a 20-year deal between owner AEG and Crypto.com. All signage will be replaced in June. The change is more evidence of the potential long-lasting appeal of cryptocurrency.