Party City, a company that specializes in themed party costumes, such as for Halloween and birthdays, has become the latest group to decide to join Amazon instead of trying to fight it. The group announced Thursday morning that it will try to sell Halloween costumes through the online retail giant. They added that if the move succeeds, the company will expand to sell Christmas and New Year’s decorations on the platform as well.
“The company may not be selling products like balloons and colored paper,” said James Harrison, chief executive of Party City. He stated that the partnership with Amazon would help his company target more millennials. Party City rose 3% after announcing the intention to partner with Amazon.
A number of major companies have partnered with Amazon to market their products, which has tremendously helped grow the strength of the electronic retail giant. Sears announced in May that its customers could buy tires through Amazon and have them installed at Sears stores. The two companies also worked together last year to sell Kenmore appliances online. Best Buy and Nike are two other examples or giants selling products through Amazon.
Amazon has also opened showrooms to sell Kindle devices and other electronics at various Kohl stores. The partnership states that customers can return purchases from Amazon to Kohl stores.
As for Party City, senior analysts say the risk in this kind of partnership with Amazon is that customers will go to Amazon stores in the future only to buy party products and stop shopping elsewhere. They pointed out that Party City should be very careful when entering into this kind of partnership with the retail giant Amazon.
US stocks struggled to stay in the green on Thursday, but some key indexes rose to record highs while investors watched the ongoing US-China trade conflict against strong corporate earnings and sound economic performance. The Dow Jones industrial average fell 0.33% to 19.564 points, while the Standard & Poor’s rose 0.10% to 2,885 points.
The Nasdaq Composite Index was up 0.37% to hit 25 points, or 0.3%, at 7913. If the Nasdaq closes higher, it will be the eighth day in a row, the longest winning streak since last October.
The Dow Jones is expected to rise 0.4%, S & P is up 0.7% and Nasdaq is expected to fall 1.3%.
These earnings in the US markets are generally thanks to the number of companies that exceeded estimates at the highest point since the third quarter of 2009. The optimistic results helped keep the stock market relatively resilient despite trade tensions between Washington and Beijing.
China warned on Wednesday that the fees imposed by the administration of President Donald Trump for about $50 billion of Chinese imports scheduled for Aug. 23 will be answered, according to the Chinese Ministry of Commerce.
However, after markets fell on Wednesday, Chinese markets rebounded, signaling that investors are certain that the world’s second-largest economy is not collapsing in the face of trade clashes.
Be the first to comment