Here are the year’s best products, most intriguing people and most exciting trends from the world of retail, according to Forbes.
The following written content by Lauren Debter
In a year marked by supply-chain shocks, bankruptcies and the occasional confrontations with a mask-less customer, we’re looking on the bright side. Here are the year’s best products, most intriguing people and most exciting trends from the world of retail.
Best Product: Toilet paper
Nobody could keep it in stock. Everyone was clamoring to get their hands on it. That’s right: toilet paper! Emblematic of the panic-buying that swept the nation, the hottest product of the year was toilet paper. It didn’t matter if it was two-ply, was made of bamboo or had Donald Trump’s face on it. Toilet paper was suddenly selling out at stores everywhere, with sales roaring 22% higher, according to Nielsen. Only in 2020.
Most Intriguing Newcomer: Thrasio
This company is buying up Amazon’s third-party sellers at a rapid rate, and is inspiring others to do the same. Led by two serial entrepreneurs, the Walpole-Massachusetts-based Thrasio is the largest acquirer of Amazon businesses and now owns the companies that sell 10,000 individual items on Amazon. The company raised $260 million at a $1 billion valuation in July and says that makes it the fastest profitable company in the U.S. to achieve unicorn status.
Disruptive Innovator: Live-stream shopping
It’s already huge in China, and it could be the next big thing in the U.S. Often compared to QVC for the mobile era, live-streamed online sales are being held by brands like Tommy Hilfiger, Levi Strauss and Estee Lauder to show off products, answer questions and take orders. Facebook, Instagram and TikTok are squaring off against startups like Popshop Live (backed by Benchmark) and ShopShops (backed by Forerunner, Union Square Ventures) for dominance. The Interactive Advertising Bureau has projected that live-stream-generated sales will double to $120 billion worldwide in 2021. Read more from Forbes.
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