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...cost Pepsi more to produce, even as belt-tightening consumers resist paying more for their food. Earlier this year, skyrocketing prices for corn, rice, wheat, vegetable oils and other key ingredients further added to core expenses, shrinking Pepsi's margins. Even packaging and delivery costs have risen. In response, CEO Indra Nooyi recently announced that the company would lay off 3,300 of its 185,000 workers and close six manufacturing plants, after failing to satisfy analysts' performance expectations. Coke has been less affected by commodity-price growth because it buys a smaller range of ingredients...
...force emerging in this year's holiday shopping spree is the increasing popularity of social shopping sites like Kaboodle, Etsy, ThisNext and Stylehive. Such online communities make buyers feel more comfortable opening their wallets. "People are reaching out for like-minded souls," says Wendy Liebman, CEO of WSL Strategic Retail, a New York-based retail consultancy. "Psychologically, it feels better if someone else is buying a product too." Kaboodle, the largest of the 25 or so social shopping sites in existence, lets community members discuss products, give one another shopping advice and receive feedback, like which item makes a better...
...items. The results are then rated by the site's Deal Rank software. If the person ends up buying an item, the deal hunter who found the price gets a small percentage of the commission. "People are leveraging other people to determine if deals are good," says Wehuns Tan, CEO of Wishabi. Adds Resource Interactive's Rollins: "The retailer that accepts that social media can be a revenue driver is the one who is going...
...Kaboodle had nearly 3 million unique monthly visitors. By October 2008, it tripled that number to 10.8 million and also logged its highest numbers for revenue, traffic and registered users. "We have seen a lot more deals and discounts this year happening across the site," says founder and CEO Manish Chandra. Likewise, Etsy, a site where community members buy and sell handmade goods, pulled in $8.4 million in gross merchandise sales in October 2008, compared with $2.96 million during the same period in 2007. That's a gain that can elicit holiday cheer...
...left her post as Chicago's city-planning commissioner to work for The Habitat Co., a for-profit real-estate firm, of which she is now President and CEO. In June, the Boston Globe ran a story on the firm's struggles, noting that city authorities had reassigned control of one of its housing complexes due to mismanagement...