Hey everyone, and welcome to this week’s installment of TraQing News! We’ve rounded up some content for you as you wind down your work week. From the mattress mergers to the new normal of $1,000 phones, here are some of our favorite articles from this week:
In less than a year, the $1,000 phone has become entirely normal | Vlad Savov: Did you ever think consumers would willingly hand over $1,000 or more for their phones? Not only is it routine now, it’s become normal incredibly quickly. However, when you consider that smartphones have become a sort of “all purpose” machine, it’s a bit easier to see why consumers are willing to fork over such large sums of money.
Serta Simmons just merged with bed-in-a-box startup Tuft & Needle | Elizabeth Segran: The mattress industry has been in upheaval as bed-in-a-box companies have become a more prevalent player in the category. With a $29 billion industry to come out on top in, perhaps it’s not a huge surprise that Serta Simmons, one of the largest traditional mattress companies is merging with Tuft & Needle, one of the main players in the direct-to-consumer categories.
Target’s CEO says the consumer environment is ‘perhaps the strongest’ in his career – and he’s not alone | Rani Molla: Retailers across the board were enthusiastic about customer spending in the past quarter’s earnings calls. Combined with other aspects of economic growth, things are looking bright- similar to the economy in the 1990s!
If articles like these have whetted your appetite for more consumer durables industry news, follow @TraQline on Twitter and The Stevenson Company on LinkedIn! See an article you think we should feature in our weekly roundup? Let us know by tweeting us and tag it with #TraQingNews.