02 Jun YOU HAVEN’T LEARNT A THING, SAYS HAYNE; THE CASE OF THE MISSING ASPIRATIONAL SHOPPER
YOU HAVEN’T LEARNT A THING, SAYS HAYNE…
Kenneth Hayne, the former High Court judge and Royal Commissioner, warned this week that corporate Australia continues to be plagued by conflicts of interest and poor culture.
Speaking at the International Congress of Actuaries, in Sydney, Haynes said many boards and CEOs had failed to learn from the findings of the Royal Commission – and continued to put profits above people.
“It is a truism that misconduct is often and usually driven by the … pursuit of commercial gain,” he told the congress, which was hosted by Actuaries Institute, a client of Cannings.
AMAZON: PROFIT VS THE ENVIRONMENT
Amazon has backed out of its Shipment Zero initiative, a commitment the company made some time ago that promised to make 50 per cent of its shipments net-zero carbon by 2030.
The e-commerce giant said it will instead roll the initiative into a broader Climate Pledge to reach net zero across all its operations by 2040 – a decade later.
Amazon relies on a vast fleet of vehicles and aircraft for fast delivery, a key selling point for shoppers. Is this another case of a business choosing profit over the environment?
THE CASE OF THE MISSING ASPIRATIONAL SHOPPER
You don’t have to be super rich – like say, the Roy family in Succession – to buy Hermes, Prada, or Louis Vuitton.
For years, these luxury brands have been selling cardboard nail files, hand creams and perfumes at more affordable prices to target what are called “aspirational shoppers” – those of us who want to flash Hermes around but well, don’t have as much money as Shiv or Kendall.
It seems aspirational shoppers account for a large chunk of business but in the last five months, inflation has seen many of them in the US tighten their belts leading to sales declines for luxury brands. Go figure …
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