Executive Summary

• This week’s note “From the Desk of Deborah Weinswig” covers our top takeaways from this week’s SXSW Conference in Austin, Texas, where there was much discussion about the future of technology in fashion manufacturing and retail.
• US retail sales increased by just 0.1% in February, matching economists’ estimates. On a more positive note, retail sales gains for January were revised up to a robust 0.6% from 0.4%, as consumer purchases advanced sharply that month across a wide range of categories.
• Baidu’s billionaire founder has revealed his intention to spin off the company’s driverless car division once it reaches maturity. Baidu believes its search and mapping data grant it advantages in artificial intelligence that can be used to develop driverless technology.
• In Brazil, the world’s fifth-largest consumer market, Walmart is making a contrarian bet, investing heavily to revamp its US-style big-box stores in the country even as shoppers increasingly flock to smaller, cheaper options.