Raphael Stevens

In this articleGM2023 Cadillac LyriqCadillacDETROIT – The all-electric Lyriq crossover will mark the beginning of the end for traditional internal combustion engines at Cadillac when the new EV arrives in dealer showrooms in the first half of next year.The Lyriq, Cadillac’s first EV, is the start of a new lineup of electric cars and SUVs for the brand as it plans to make all-electric vehicles exclusively by 2030, according to Rory Harvey, global vice president of Cadillac. He said there will be no new vehicles from Cadillac with internal combustion engines, also known as ICE, in North America after last year’s launch of the redesigned Escalade SUV.”We will be leaving this decade as an EV brand as things stand today,” he told reporters during an online media event this week for the 2023 Cadillac Lyriq. “We will not be selling ICE vehicles by 2030.”General Motors, Cadillac’s parent company, previously said a majority, if not all, of its Cadillac cars and SUVs sold globally would be all-electric vehicles by the end of the decade. But Harvey’s comments take it a step further, reconfirming the plans and saying Cadillac will not spend capital on its current lineup outside of updates, also known as midcycle refreshes, to vehicles already on sale.Cadillac is expected to lead GM’s plans to exclusively offer EVs by 2035. That includes at least 30 new EVs by 2025 under a $27 billion investment plan in electric and autonomous vehicles during that time frame.The Lyriq, starting at $59,990, will be among the first to market with GM’s next-generation EV platform and battery system, known as Ultium. The vehicle will only come in one configuration for the first model year to simplify production.2023 Cadillac LyriqCadillacGM on Wednesday released pricing, photos and details of the production version of the vehicle, which widely resembles a show car version from last year. Changes, as promised by GM, largely include a few design tweaks such as smaller wheels and larger side mirrors to meet U.S. regulations.”The intent was to basically take the show into production” said Andrew Smith, Cadillac executive director of global design, color and trim. That includes new signature lighting and an illuminated Cadillac emblem on the front end.2023 Cadillac LyriqCadillacThe Lyriq’s interior, like the show car, also features a curved 33-inch-diagonal advanced LED screen the spans the entire viewing area of the driver.The rear-wheel-drive vehicle is expected to have 340 horsepower and about 325 pound-foot of torque. The vehicle’s estimated EV range on a full charge is more than 300 miles, according to GM. On a DC fast charger, GM said the vehicle is capable of adding 76 miles of range in about 10 minutes.2023 Cadillac LyriqCadillac More

Jim Beam BourbonSource: Jim BeamAlcohol company Beam Suntory announced Wednesday a $1 billion investment in new sustainability, diversity and responsible drinking initiatives.As part of those plans, the producer of the Jim Beam and Maker’s Mark whiskey brands, pledged to reduce by half its water usage and greenhouse gas emissions by 2030.”The environment is shifting around us and we need to be consumer led in everything we do,” Beam Suntory CEO Albert Baladi told CNBC. “The planet urgently needs it. Our consumers and stakeholders are expecting it. So, the time is right for us to climb the ladder of commitment as we say and get going on those bold ambitions.”Beam Suntory, which also is behind the Effen vodka and Cruzan rum brands, is also setting goals of 50% of leadership positions being filled by women globally, and aiming for minorities to make up 45% of its U.S. workforce by 2030. Beam Suntory will spend $500 million globally to educate consumers on responsible drinking and reduce harmful drinking with the goal of engaging 300 million people globally by 2030.Marker’s Mark bourbon.Source: Maker’s MarkSustainability, diversity and responsible drinking plans are a growing trend in the alcohol business, partially due to a rise in investors who care about environmental, social and governance issues, also known as ESG.AB InBev, the brewer of Budweiser beer, has pledged to get all of its electricity from renewable sources and reduce carbon dioxide emissions by 25% by 2025.Diageo, the distiller of Johnnie Walker and brewer of Guinness beer, has set a target of 50% of all company leaders being women and 45% of leaders coming from diverse backgrounds.Molson Coors has promised to reduce water use in breweries by 22% by 2025, and it’s launched responsible drinking education programs in 10 out of the 13 countries where it operates.Beam Suntory is a private company and not necessarily beholden to ESG concerns, but the CEO believes the $1 billion commitment will make the brands more attractive to key demographics.”We believe that diverse companies are better companies, they innovate, they are more competitive they succeed better in the market,” Baladi said, “Consumers are resonating to this for sure, particularly the younger consumers. Gen-Zs and the millennials are responding very favorably to those plans.”Beam Suntory — a subsidiary of Suntory Holdings Ltd. of Japan, based in Chicago — reported U.S. sales growth of 4% in 2020. Baladi expects to see continued growth, but said the alcohol business remains “uncertain” during the Covid pandemic. More

In this articleFNFLBTYALMACALewis Hamilton of Great Britain driving the (44) Mercedes AMG Petronas F1 Team Mercedes WO9 leads Max Verstappen of the Netherlands driving the (33) Aston Martin Red Bull Racing RB14 TAG Heuer on track during the Formula One Grand Prix of Great Britain at Silverstone on July 8, 2018 in Northampton, England.Charles Coates | Getty ImagesFormula 1 finally landed a new racing venue in the United States after roughly five years of effort from its owner Liberty Media.Formula 1 will race the next decade in the Miami market after securing a venue and landing financial backers. And with the move, parent company Liberty Media’s U.S. strategy is taking shape.”Now things are coming together,” said Chris Lencheski, chairman of private equity consulting company Phoenicia.”It’s going to be huge for the series, especially here in the United States,” added legendary motorsports driver Michael Andretti.F1 agreed to a 10-year deal to bring a second race to the U.S. last weekend. Financials of the deal weren’t released, but motorsport insiders estimate F1 netted in the range of $17 million to $20 million per year under the pact. The Miami Grand Prix will join the U.S. Grand Prix in Austin, bringing four total races to North America as F1 also races in Canada and Mexico.”The USA is a key growth market for us, and we are greatly encouraged by our growing reach in the US which will be further supported by this exciting second race,” said new F1 CEO Stefano Domenicali in a statement.Lencheski credited former F1 CEO Chase Carey “for seeing this through” before relinquishing the role and taking a non-executive chairman title. He added Liberty Media would benefit as the race gives it access to a prominent South Florida market that favors top F1 automakers like Ferrari and Aston Martin.But the next step in F1’s U.S. play could be essential.”If I’m the CEO of Formula 1, I’m doing all I can to get an American driver in the seat and successful,” Lencheski added.F1 could use help in the U.S.Lencheski served as CEO of sports and entertainment marketing firm SKI & Company before selling the agency in 2008. The company formulated F1 sponsorships.He said for F1 to market effectively market in the U.S., having a native driver would be critical in a sport fueled with nationalism, as it travels worldwide.Currently, there are no American drivers in F1. Michael Andretti’s father, Mario Andretti, is the most successful American driver to dominate F1, winning the 1978 championship.And Gene Haas’ F1 team is the only American team in F1 but has no American drivers, something U.S. drivers long ago noticed.Pole position qualifier Lewis Hamilton of Great Britain and Mercedes GP looks on in parc ferme during qualifying ahead of the F1 Grand Prix of Emilia Romagna at Autodromo Enzo e Dino Ferrari on April 17, 2021 in Imola, Italy.Mario Renzi | Formula 1 | Getty ImagesUnited Kingdom native Lewis Hamilton is the most popular driver in F1. But Hamilton is 36, and the retirement chatter has started. He only signed a one-year deal to drive for Mercedes, further fueling speculation about his future.”I don’t feel like I’m at the end but only in the next eight months or so I’ll find out whether I’m ready to stop or not. I don’t think I will, personally, but you never know,” Hamilton told F1’s website in March.With Hamilton nearing the end, Lencheski nominated American IndyCar driver Colton Herta as a driver that could convert and thrive in F1 as a future star.”He’s already proven he can win in IndyCar,” Lencheski said. “He’s won on the Formula 1 circuit in Austin. He’s lived in Europe training, and he’s the correct age.”The Andrettis concurred.Said Mario Andretti on Kyle Petty’s show: “As a young lad, his dad sent him to Europe, he was doing Formula 3, and he knows most of the circuits there, for one thing, and he’s trained. He’s showed in his rookie season in IndyCar, and he won some premium races like (in Austin) … beat two of the very best Indy has to offer. The entire race, he held off Will Power and Scott Dixon. This is one kid I’d love to see him get a break over there because to the U.S. colors again – Formula 1 is like the Olympics in a sense.”Colton Herta waits on the award stand after winning the IndyCar Series auto race, at Mid-Ohio Sports Car Course, Sunday, Sept. 13, 2020, in Lexington, Ohio.Phil Long | APMichael raced in the 1993 F1 World Championship series. He also praised F1 for building on their brand, which includes a streaming series to educate and generate new fans in the U.S.”I think Liberty has done a lot of good things with the F1 series, including that Netflix show,” Andretti said. “That has done wonders for F1 and people understanding more what it’s about.”Tracking the F1 stock Liberty, which also owns the Atlanta Braves, purchased F1 in 2016 for $4.4 billion, gaining access to a global fan base of over 400 million. It trades F1 as a tracking stock under the ticker “FWONA” on the Nasdaq. Tracking stocks are used by companies to track the success of a particular division in its portfolio.With attendance restricted due to the pandemic, F1 revenue declined from $523 million to $485 million in 2020, according to its fourth-quarter earnings report. Liberty CEO Greg Maffei also linked the F1 stock to a $575 million special purpose acquisition company, searching for companies including digital media properties to take public.A key metric on the report: There’s an average 87.4 million viewers per race. It’s a global stat, as over the years, F1 struggled in the U.S. market. F1 did not race in the U.S from 2008 to 2011 before returning with the U.S. Grand Prix in 2012 after a track was built in Austin. And part of Carey’s mission was to build on the U.S. market; hence, adding Miami and growing the media market.ESPN returned F1 to its lineup in 2018 and pays the organization a rights fee though Comcast’s Sky Group and F1 produce the races. It’s growing slowly on the viewership front.The 2021 series opener, the Bahrain Grand Prix, saw an average of 879,000 viewers tune into the network’s ESPN2 channel on April 4. The second race in Italy attracted 905,000 average viewers, according to ESPN. And before the pandemic, F1 averaged 671,000 viewers in 2019 on ESPN channels, up from 554,000 viewers in 2018.F1 could also be looking to expand on the media front, and Amazon could be in play, according to the Financial Times.But F1’s future in Austin’s Circuit of the America is in question. The deal is set to expire after the 2021 season. The track sold out its 2019 race, missed 2020 due to the pandemic and is set to host this year’s event in October, part of a 23-race schedule.Should it remain in Texas and thrive in Florida, Lencheski forecasted more U.S. expansion.”If they bring an event to Las Vegas or the Pacific Northwest, it will sell out there, too,” he said.F1 did not provide an official for this article after a CNBC request.Teammate Mercedes AMG Petronas Motorsport driver Valtteri Bottas (77) of Finland pours champagne on the head of Mercedes AMG Petronas Motorsport driver Lewis Hamilton (44) of Great Britain after clinching the 2019 FIA Formula 1 World Championship following the F1 – U.S. Grand Prix race at Circuit of The Americas on November 3, 2019 in Austin, Texas.Ken Murray | Icon Sportswire | Getty ImagesF1 could get more competitive But whether the world’s top motorsport company will capitalize on the U.S. market is unclear. Michael Andretti said the newly installed salary cap would help balance the sport.F1 established a new cost cap system, limiting teams’ spending. Think of it like the National Football League or National Basketball Association salary cap. For the 2021 season, it’s $145 million and fluctuating after the year. Hence, with a balanced field, bigger brand cars’ teams can’t outspend to win.Michael Andretti, who himself is a part of a SPAC, Andretti Acquisition Corp., targeting the automotive industry, likes the cost cap system, believing smaller teams will benefit.”They know how to deal with a smaller budget so they won’t have to downsize, whereas the bigger teams will need to learn how to downsize,” he said. “It’s going to be quite interesting to see what happens a couple of years down the road. I really believe the competition is going to get a lot better.””They should be very bullish about their future,” Michael added, “especially here in the U.S.”Disclosure: Comcast is the parent company of NBCUniversal. More

Firefighters battle a three-alarm fire at a Domino Sugar plant, Tuesday, April 20, 2021, in Baltimore.Steve Ruark | APA fire at the Domino Sugar plant sent white smoke billowing over the Inner Harbor in Baltimore on Tuesday, but no injuries were immediately reported, a fire department spokeswoman said.Chopper4 footage shows the factory’s storage dome collapsing into itself.A conveyer belt apparently carried a burning substance from a silo to other parts of the facility, said Baltimore City Fire Department spokeswoman Blair Adams. Fire and smoke could be seen coming through the roof when firefighters arrived, and the silo collapsed after they entered the building, according to the department.Read more from NBC4 WashingtonRacial Justice Activists Say Chauvin Verdict Provides ‘Sliver of Hope’ for Police ReformCold Winds Follow Storm Chances in DC Area; Some Will See Freeze WarningSpotsylvania Deputy Shoots Man While Investigating Domestic Disturbance: AuthoritiesFirefighters were still trying to extinguish the blaze inside the facility around 5 p.m., approximately two hours after they responded to the three-alarm fire, according to Adams.All of the employees safely escaped from the building, and no injuries to firefighters were immediately reported, Adams said.”All the employees were accounted for,” Adams added.Flames could be seen from a distance after 3 p.m. at a storage facility behind the waterfront refinery. Fire boats were seen in aerial video pouring water on the fire from the harbor.The 99-year-old refinery, which employs 510 full-time workers and is in the midst of replacing its massive, beloved neon rooftop “Domino Sugars” sign with an LED replica, processes about 6.5 million pounds of raw cane sugar a day, The Baltimore Sun reported.American Sugar Refining, Inc., the owner of the Baltimore refinery, said in a statement that the fire’s cause is under investigation.In November 2007, a powerful explosion and fires forced the refinery to shut down for a week. The powdered sugar mill was declared a total loss. More

A health worker checks a man’s temperature before receiving a dose of vaccine against the coronavirus at a vaccination center set up at the Dubai International Financial Center in the Gulf emirate of Dubai, on February 3, 2021. The United Arab Emirates has suffered a spike in cases after the holiday period.Photo by KARIM SAHIB | AFP via Getty ImagesDUBAI, United Arab Emirates — The United Arab Emirates will consider “strict measures” to limit the movement of people unvaccinated against the coronavirus, as it seeks to ramp up a national inoculation campaign that has already administered more than 9.9 million shots. “Strict measures are being considered to restrict the movement of unvaccinated individuals and to implement preventive measures such as restricting entry to some places and having access to some services, to ensure the health and safety of everyone,” Saif Al Dhaheri, a spokesman for the UAE’s National Emergency Crisis and Disaster Management Authority, said in a statement late Tuesday.No further details were given for the “preventive measures” beyond restrictions on access to certain places and services in the country. The new measures would add to public health measures already in place aimed at keeping the virus at bay during the holy month of Ramadan. The announcement sparked some negative responses online. One Twitter user by the handle Fawzia al Hashemi wrote, “Why restrict when vaccine is freedom of choice, not mandatory? When majority have taken vaccine, we are worried on them [sic] from the ones not taken? How!” Another user by the name of Abeer Essa tweeted, “Where were the constraints on the travelers coming from the countries that were suffering from wide spread?” The UAE’s coronavirus cases hit a peak of some 4,000 per day in late January, but have since fallen to fewer than 2,000 per day. The peak was due in large part to travelers coming to the UAE’s commercial capital Dubai for tourism, particularly from the U.K., which was then gripped by a new and more contagious variant of the virus. Dubai did not shut its doors to tourists nor restrict the movement of visitors or residents. The UAE has overseen the second-fastest vaccination campaign in the world after Israel, announcing on Wednesday that 9.9 million vaccine doses had been administered to its mostly-expat population of roughly 10 million.  Abu Dhabi approves Pfizer-BioNTech jabAbu Dhabi approved the use of the Pfizer-BioNTech vaccine on Wednesday, reversing course on its previous strategy of only using the Chinese-made Sinopharm vaccine.Residents of neighboring Dubai, the Gulf country’s most populous emirate, can choose from Sinopharm, Pfizer-BioNTech, Oxford-AstraZeneca, or Russia’s Sputnik V vaccine free of charge, though Sinopharm was made universally available to adults months before the others. The UAE became the first country to approve the shot for use last year, and partnered with China, a major buyer of Gulf oil, to manufacture vaccines locally.”The more tools we have at our disposal, the better,” Simon Bland, CEO of the Global Institute for Disease Elimination told CNBC on Wednesday. “Many countries have got several vaccine candidates that they’re using and I don’t think there is anything unusual in that, I think some diversity is valuable.”  Authorities said the Pfizer-BioNTech vaccine would be available at designated vaccination centers by appointment only. The Sinopharm vaccine, which has been the only available shot in Abu Dhabi for the general public since December, would still be available to use. “We call on the public, both citizens and residents above the age of 16 who did not get vaccinated, to visit the nearest vaccination center and get the vaccine” NCEMA’s Al Dhaheri said. “Delaying or refraining from taking the vaccine poses a threat to the safety of society. The vaccine is our best means to recover and return to a normal life.” Abu Dhabi opted for a Chinese-only strategy for its local vaccination drive. Most people in the emirate received the Sinopharm shot, despite a lack of details surrounding its efficacy results and peer-reviewed data.  It wasn’t clear how the decision to rollout Pfizer-BioNTech alongside Sinopharm would impact Gulf Pharmaceutical Industries, also known as Julphar, which signed a contract with Abu Dhabi’s G42 to produce the vaccine locally. A new vaccine plant with an eventual production capacity of 200 million doses a year was scheduled to be operational this year. Julphar, G42 and The Abu Dhabi Media Office did not reply to CNBC requests for comment. More

In this articleTRIPSiesta Key beach in Sarasota, Florida.Pola Damonte via Getty Images | Moment | Getty ImagesAmericans are looking to finally get out and about this summer, and interest in both well-known and new emerging getaway spots is rising along with temperatures, according to travel companies.Online travel guidance platform Tripadvisor says 67% of Americans plan to travel from June through August, a 17% jump over spring (March to May). Most of them (43%) plan to drive, although 19% are willing to fly, and beach destinations — particularly in Florida and Mexico — are at the top of traveler wishlists.More from Personal Finance:Top-rated frequent flyer programs can cut travel costsHere’s what post-pandemic travel might look likeHow travelers could benefit from hotel industry strugglesWhy the beach? “This summer, we continue to see travelers favor outdoor locations like beaches or national parks, locations that continue to enable the practice of social distancing,” said Tripadvisor spokesperson Brian Hoyt.People are also just ready to get out of the house, he added. “As the vaccine rollout far exceeds the Biden administration’s promised target of 1 million doses administered per day, Americans are resoundingly saying they are prepared to get out there again, to travel and see the world once more to make up for lost time.”Tripadvisor’s Top 10 Summer DestinationsHere’s a look at the most popular summer vacation destinations for Americans as tracked by Tripadvisor, along with a highly-rated hotel in each that still had availability as of press time.Cancun, Mexico — Le Blanc Spa Resort CancunOrlando, Florida — The Delaney HotelMyrtle Beach, South Carolina — Ocean 22 by Hilton Grand VacationsKey West, Florida — Havana Cabana at Key WestMiami Beach, Florida — The Standard, MiamiLas Vegas — Four Seasons Hotel Las VegasPlaya del Carmen, Mexico — Banyan Tree MayakobaCabo San Lucas, Mexico — Vista Encantada Spa Resort & ResidencesTulum, Mexico — Ahau TulumPunta Cana, Dominican Republic — Dreams Macao Beach Punta CanaSource: TripadvisorDespite the interest in Mexico that Tripadvisor tracked, the site found that 74% of Americans plan to travel domestically this summer — and that means more competition for accommodations across the country. To wit, hotel searches are up 65% at Tripadvisor. The survey showed that 46 percent of vaccinated consumers plan to travel at least once during the summer months, with a majority planning interstate travel.As popular vacation destinations fill up, more Americans are looking at less well known holiday spots, particularly of the sun-and-fun variety. Vacation rental search aggregator VacationRenter.com has tracked growth of more than 100% in bookings in 11 emerging summer destinations — eight of which are beach areas in Florida alone.”Because of the last year, there’s pent-up demand for travel this summer which makes it more competitive to book your typical vacation spots,” said Zander Buteux, head of organic growth at VacationRenter.com. “Smaller cities and areas that don’t traditionally experience summer tourism are growing in response to other locations booking up faster than before.”11 Emerging Summer Destinations for RentersHere’s a look at 11 emerging summer destinations that are increasingly popular with vacation rental customers, according to VacationRenter.com. Each has seen growth of more than 100% in bookings year over year.Destination — Growth RateIsle of Palms, South Carolina — +388%Sugar Mountain, North Carolina — +279%Miramar Beach, Florida — +237%Anna Maria Island, Florida — +203.06%Siesta Key, Florida — +157%Sarasota, Florida — +149.43%Bonita Springs, Florida — +148%Pensacola Beach, Florida — +144.51%Lake Anna, Virginia — +143.50%Navarre Beach, Florida — +128.42%Rosemary Beach, Florida — +107.52%Source: VacationRenter.comBeing smaller, these ascendant destinations don’t have the same hotel inventory as big-league resort towns but, in this age of Airbnb and other home rental sites and apps, that’s not necessarily a disadvantage. And vacation rentals offers added advantages such as isolation and more space, said Buteux.”They provide you with the flexibility to travel safely, and renters have more control,” he noted. “For example, you and your pod can order groceries and cook at the rental property instead of going out for food, to reduce contact with others.””People missed out on seeing their friends and family last year; by having everyone stay in a rental, it’s substantially easier to coordinate plans and spend quality time together,” Buteux added.   More

Medical tech Janette Serrano injects Henry Perez, 71, with a Covid-19 vaccine are offered at the Bell Community Center.Robert Gauthier | Los Angeles Times | Getty ImagesThe U.S. vaccination pace has held above 3 million shots per day for two weeks straight, according to Centers for Disease Control and Prevention data published Tuesday.That figure is based on a seven-day average of daily reported vaccinations, and has fallen slightly in recent days, down from a peak of 3.4 million reported shots per day on April 13 to just over 3 million Tuesday.About 40% of Americans have received at least one shot, CDC data show, and roughly 1 in 4 are fully vaccinated.U.S. vaccine shots administeredAbout 1.8 million vaccines were reported administered in the U.S. Tuesday, which mostly reflects inoculations from over the weekend due to a lag in data reporting. Vaccination numbers reported on Mondays and Tuesdays are typically the lowest of the week.The seven-day average of daily shots given, which is used to smooth day-of-week reporting fluctuations, is 3 million.Zoom In IconArrows pointing outwardsThe slight dip in the daily pace may be due in part to the ongoing investigation into Johnson & Johnson’s vaccine. The U.S. Food and Drug Administration earlier this month advised states to suspend the use of J&J’s shot “out of an abundance of caution” after six women developed a rare blood clotting disorder.Though the J&J vaccine makes up less than 4% of the 213 million total vaccines administered in the U.S. to date, it was being used for an average of nearly 425,000 reported shots per day at peak levels in mid-April.Zoom In IconArrows pointing outwardsGovernment officials have said the country has enough supply of Pfizer and Moderna vaccines to maintain a pace of 3 million shots per day.U.S. share of the population vaccinatedMore than 133 million people, or 40.1% of the U.S. population, have received one dose or more of a Covid-19 vaccine. Roughly one in four Americans are fully vaccinated.Zoom In IconArrows pointing outwardsOf those aged 65 and older, more than 80% are at least partially vaccinated and 65% are fully inoculated.Progress varies across the country. In one state, New Hampshire, more than half of residents have received at least one jab, and Connecticut, Maine, and Massachusetts are on track to hit the 50% mark in the coming days.More than 40% of residents are at least partially vaccinated in 24 states and Washington, D.C.In Mississippi and Alabama, only 30% of residents have gotten a shot, and that figure is 31% in Louisiana and 32% in Tennessee.U.S. Covid casesThe U.S. is reporting an average of 63,800 daily new infections, based on a weekly average of data tracked by Johns Hopkins University. That level has been trending downward in recent days, but is above the most recent low point of 53,600 average daily cases recorded in late March.Zoom In IconArrows pointing outwardsU.S. Covid deathsAbout 700 daily Covid deaths are being reported in the U.S., based on a seven-day average of Hopkins data, down from peak levels of about 3,400 per day in mid-January.Zoom In IconArrows pointing outwardsThe total nationwide death toll since the beginning of the pandemic is more than 568,400. More

Call it 2021’s spin on a Tupperware party, but without the obligation of getting friends together.Premium retailers are taking unprecedented steps to bring the consumer experience to your living room, according to Loup Ventures’ Gene Munster.”We are just at the cusp of what is going to be a paradigm shift [in the industry],” the firm’s founder and managing partner told CNBC’s “Trading Nation” on Tuesday. “These changes come around about every quarter of a century.”Munster suggests it’s part of an evolution gripping retail companies, particularly in technology. He compares the change to the shopping mall’s birth in the 1950s and the rise of big-box retailers in the 1980s.He tackled the trend in a recent note and believes there’s big money in it.”These premium brands have a massive opportunity to come into their [customers’] home to support. Imagine getting tech support,” said Munster. “An Apple salesperson essentially comes to you.”It’s an arrangement that’s already being tested.Enjoy, which is one of Loup’s portfolio companies, is partnering with Apple in the San Francisco, Los Angeles and Dallas-Fort Worth regions to offer at-home service and tech support. Enjoy is led by former JCPenney CEO and Apple retail president Ron Johnson.Munster speculates that the mega retail shift to homes should endure post-coronavirus pandemic because of the convenience to consumers. He notes it’s a fundamental part of an accelerating digital transformation.”If you look at a company like Apple, they’re not going to be adding more stores,” he said. “But they will, I believe, have an opportunity to kind of expand their retail presence going through the door somewhere to what Peloton is doing.”Munster lists Apple and Peloton as big winners from the big changes, as well as Tesla.”About 80% of the maintenance of their vehicles is at your home,” he added. “This is a big deal.”And, that could leave traditional retailers in the dust.”You either have to be Target or Amazon on the one end or you need to be premium brands coming through the door,” Munster said. “If you’re caught somewhere in between, I’m sorry it doesn’t look good.”Disclosure: Munster’s firm Loup Ventures has a stake in Enjoy.Disclaimer More