We are resuming the publication of monthly digests. Our selection of the most important economic and business news should be interesting and useful to everyone working on the economic front of our country. After all, we know that staying informed about business events, analyzing, and skillfully using the information received means staying one step ahead!
The number of advertised brands on national television has decreased by 2-2.5 times since the beginning of the war. Currently, there are about 100 of them, but the recovery of the market is artificially restricted. This was reported by Dmytro Dutchyn, Director of Marketing and Sales at Space Media, which sells advertising on Inter Media Group channels, in a blog post on the Interfax-Ukraine agency's website.
The All-Ukrainian Advertising Coalition has published a study on "Trends 2022 in Marketing Communications Management." The research, conducted in collaboration with the Factum Group, aims to assess the impact of the war on marketing communications, understand existing challenges for marketing teams, and outline plans for the future. The study involved 118 companies.
The Polish discount service Picodi has launched a new cashback service for its Ukrainian users. This service allows users to get back up to 15% of the money spent on purchases. Users can avail cashback for purchases made in both Ukrainian and international online stores and services, including Yakaboo, Wish, or iHerb. The cashback percentage varies depending on the store and the category of the selected item but generally ranges from 1% to 8%. New users can enjoy an increased cashback of up to 15%.
Apple has instructed two suppliers to reduce the production of iPhone 14 Plus by 90%, just two weeks after its debut, according to Techspot. The sales of iPhone 14 in China during the first three days decreased by 11% compared to its predecessor in 2021, partially due to current economic issues in the country. However, it is reported that Apple will still release iPhone 15 Plus next year.
The omnichannel CDP eSputnik, despite the full-scale war, has launched two new projects for different niches and expanded the presence of Ukrainian IT in the West. The first release, Reteno, is a platform for retaining users of mobile applications, while the second, Yespo, is an omnichannel platform offering ready-made tools and campaigns for medium-sized e-commerce in English-speaking countries.
The postal and logistics company Justin, launched by Fozzy Group in 2017, ceased operations in the spring of 2022. Former managing partner of the company "Justin" Yuriy Avdysh shared this information, as reported by Forbes.
Due to the full-scale invasion, Fozzy Group was forced to streamline numerous processes in the business and rethink the operation of Justin. Currently, the company only releases packages that customers were supposed to receive before the closure of branches. These packages can be obtained at "Silpo" supermarkets, or Justin will redirect them through other postal operators.
Elon Musk officially became the owner of Twitter after acquiring the company for $44 billion. Shortly afterward, he dismissed the CEO Parag Agrawal, CFO Ned Segal, and the Head of Policy, Trust, and Safety Vijaya Gadde. Twitter is expected to go private, dissolve its current board of directors, and cease public trading of its stocks.
The all-Ukrainian grocery delivery service, Zakaz.ua, analyzed how prices for food products in Ukrainian supermarkets have changed over the year. All consumer goods from the everyday basket of Ukrainians experienced significant price increases. The prices for onions, eggs, bananas, and cucumbers saw the most significant spikes. The reasons behind this include a substantial increase in energy carriers, fuel, which is now almost entirely imported, and the devaluation of the hryvnia. According to information from the State Statistics Service, inflation in Ukraine was 19.5% since the beginning of the year, with "food" inflation being higher at 25%.
Amid prolonged uncertainty and new challenges caused by the war in Ukraine, over half of Ukrainian business leaders remain optimistic—65% say they are confident in the growth prospects of their companies and industries over the next three years. However, when it comes to the global economy, only 19% of Ukrainian executives are confident in global economic growth over the next three years. Globally, 71% believe that the world economy will grow in the three-year perspective, and 85% are confident in the growth prospects of their companies, industries, and countries.
As expected, Meta has announced that it will lay off 11,000 employees, which constitutes about 13% of the total workforce. In September, the company reported having 87,000 employees. This will be the first significant reduction in staff since the company was founded in 2004.
CEO Mark Zuckerberg stated that he was to blame for excessive optimism about the company's future growth amid the pandemic surge. Mark Zuckerberg added that the company will now become "more streamlined and efficient" by cutting costs and personnel.
Tenants are asked to prepare their premises for this date. Additional information about the procedure for importing or exporting goods or conducting works will be provided later.
After the start of Russia's full-scale invasion, the shopping center remained closed. Later, according to the Retailers Association, a supermarket "Auchan" and several other stores ("Allo Max," MasterZoo, and a few islands) opened on the ground floor.
In July, the Auchan supermarket chain, referring to the administration of the shopping center, announced that the shopping center would cease operations. After that, Ocean Plaza shopping center was planned to reopen in August and then in October.