Amazon poised for record sales from pandemic-charged online holiday shopping
Amazon is expected to report around $119.7 billion in quarterly revenue and $3.7 billion in net income following pandemic-fueled online holiday shopping over the past few months. According to FactSet, Amazon sales for all of 2020 are projected to have risen about 35% year-over-year to around $380 billion. However, the company continues to face regulatory and labor battles. The Wall Street Journal reports.
Meatpacking companies, OSHA face investigation over COVID-19 in plants
A House subcommittee has launched an investigation into the deaths of more than 250 meatpacking plant employees nationwide. The Trump administration is being accused of failing to "adequately carry out its responsibility for enforcing worker safety laws at meatpacking plants across the country, resulting in preventable infections and deaths." This is because, despite the many confirmed COVID-19 cases, OSHA only issued eight citations and under $80,000 in penalties for coronavirus-related health and safety violations. Head to NPR for next steps.
Once we have lab-grown meat, will we still need animal advocacy?
When it comes to convincing consumers to make the ethical choice, technological innovation trumps morality any day. This is why cell-cultured meat is set to rock the world: Once it's been established as a cheap, accessible and tasty option, shoppers are far more likely to make the leap and thus rid the world of factory farming's evils for good. But enormous roadblocks remain to commercializing cell-cultured meat, regulatory approval and scale being two of them. Fast Company has the story.
Why some female food founders are turning to crowdfunding during COVID-19
After angel investments slowed down last spring, many female founders relied on online crowdfunding platforms like Republic and Kickstarter to fund growth, finance capital expenditures and support research and development. Notably, women-led crowdfunding ventures are more successful in reaching their fundraising goals than those led by men. Upcycled food company Renewal Mills and bone broth soup brand Nona Lim are two of several women-led natural brands that have found success by leaning on their passionate supporters. Read more at Forbes.
Tiny Bodega is making it easier to find POC-owned brands
Harlem resident Taylor Cook started online retailer Tiny Bodega to support POC-owned brands after the Black Lives Matter protests that rocked 2020. Communities of color represent a growing portion of buying power in the U.S., but POC brands are oftentimes siloed within "ethnic" or "multicultural" store aisles. Tiny Bodega highlights healthy alternatives to pantry goods that can be ordered in three discovery boxes (brunch, snack and dinner). Get the scoop at Thrillist.