Today In Retail: CarLotz Opens Two New Hubs; Economy, Emotions Help Blockbuster Holiday Sales

In today’s top retail news, CarLotz unveiled the opening of centers near Orlando, Florida and Seattle Washington, while a National Retail Federation economist said a rebounding economy and consumer emotions helped blockbuster holiday sales. Plus, it was mostly smooth sailing for Alibaba as the firm released its earnings from Q4 2020.

CarLotz Opens Hubs Near Seattle And Orlando

CarLotz, the consignment-to-retail used vehicle marketplace, announced on Tuesday (Feb. 2) that it has opened facilities in the vicinity of Seattle, Washington and Orlando, Florida. The Washington state location is 15 miles outside of downtown Seattle in Lynnwood, while the Florida location is in Merritt Island. The openings come on the heels of CarLotz’s debut as a publicly traded firm.

NRF: Recovering Economy, Consumer Emotions Supported Record Holiday Sales

National Retail Federation Chief Economist Jack Kleinhenz said record holiday season retail sales in November and December 2020 highlighted the rebounding economy but were also aided by consumer emotions following a stressful year. “This was not a typical holiday season and it took place amid an unprecedented shopping landscape,” he said in an announcement.

Alibaba Earnings Avoid Jack Ma, Address Regulatory Issues

It was mostly smooth sailing for Alibaba as the company revealed its earnings from Q4 2020. Absent from the earnings call was any mention of the firm’s founder and former CEO Jack Ma, although the firm did address the present imbroglio with the Chinese government regarding Big Tech regulations.

5 Things To Watch In The Changing CPG Landscape

The consumer packaged goods (CPG) sector had a banner year in 2020, as consumers stuck in their residences increased their consumption of products such as snack foods, paper towels and toilet paper. However, the CPG surge, most experts agree, is probably coming to a close, but the situation is a little more intricate than it appears at first look.