Jassy stands firm on remote work policy / Pharma e-commerce popularity / Rite Aid's bankruptcy preparation

Plus, Natura explores sale of The Body Shop

Inside Ecommerce For August 29, 2023

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Hi Insiders! Today, we cover: Andy Jassy's warning to dissenting employees. The world's top pharma e-commerce markets. Rite Aid's reported plans for bankruptcy. And much more! If you find this newsletter helpful, please share it with your friends and colleagues. Thank you! Gregory p/Gregory_Bridgman

1 Amazon CEO Andy Jassy is standing firm on the company's return-to-office policy.  He reportedly told employees resisting the policy that "it's probably not going to work out for you." More: Amazon's staff adjusted to working remotely following years of disruptions related to COVID-19. CEO Andy Jassy said on Feb. 17 that Amazon workers needed to return to the office for at least three days a week from May 1. A group of workers expressed their opposition to the decision, and some continue to resist the policy. Jassy reportedly told workers during a meeting earlier this month that "It's past the time to disagree." Should Amazon be more open to the views of dissenting employees? Join the conversation here!

2 What the numbers say: Over half of consumers in Sweden (55%) purchased pharmaceutical products online in Q1 2023. Only 34% of U.S. consumers purchased pharmaceuticals via e-commerce during the same period. Relevance: E-commerce penetration in the consumer pharmaceutical market is not consistent across countries. In the U.S., pharmaceutical e-commerce faces several challenges, including differing regulations between states and increased competition since the pandemic. What's next:  Amazon has made large investments in its online pharmacy business in recent years. The firm's growing presence in the sector, combined with its industry-leading last-mile delivery network, poses a challenge for more conventional online pharmacies. However, Amazon is also likely to attract more patients seeking convenience, which may grow the U.S. pharmaceutical e-commerce market overall.

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3 Rite Aid is reportedly preparing to file for bankruptcy. The drugstore chain faces lawsuits alleging that it unlawfully filled opioid prescriptions. More: Rite Aid plans to file for bankruptcy to restructure over $3.3B in debt, according to the Wall Street Journal. The company's Q1 revenue fell to $5.7B from $6B at the same time last year. Rite Aid posted a net loss of almost $307M for the quarter. In 2022, Rite Aid began using Google Cloud's Retail Search solution to improve search results on its mobile app and e-commerce site.

4 Natura & Co may sell The Body Shop. The Brazilian conglomerate is seeking ways to mitigate its declining performance. More: Natura & Co acquired The Body Shop in 2017. The Body Shop's e-commerce platform had the best customer experience in 2022, according to the U.K. Digital Retail Index. Despite its strong e-commerce platform, net revenue for The Body Shop was down 12% YoY in Q2. Natura & Co's board authorized management to consider strategic alternatives to The Body Shop.

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5 Leonard Lauder will step down from the board of Estée Lauder. The company also announced that Lauder appointed his son Gary as a director. More: Estée Lauder was founded in 1946 by Leonard Lauder's parents, Joseph Lauder and Estée Lauder. Leonard Lauder joined the firm in 1958 and has served as CEO and board chairman. E-commerce has been a key driver of Estée Lauder's growth since the outbreak of COVID-19. The company reported net sales of $15.9B for its most recent fiscal year, down 10% YoY.

6 Madison Reed launched at Walmart. The D2C haircare firm now sells products on Walmart's e-commerce site and at select stores. More: Founded in 2013, Madison Reed was initially based on digital tools and mobile apps. The company now offers 28 SKUs on Walmart.com and at 1,500 Walmart locations. Madison Reed already sells products through Target and Ulta Beauty. The company hired Angela Jaskolski as its first chief revenue officer in July as it seeks to boost growth.

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Gregory Bridgman Writer / Editor Gregory Bridgman is an e-commerce researcher with a PhD. from the University of Cambridge. He also holds a Master of Science from University College London and a Bachelor's degree from the University of Cape Town.  Please follow me on Twitter or email me at gregory@inside.com. This newsletter was edited by Aaron Crutchfield

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