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Here's everything you need to know today - in under 3 minutes.

Today's big stories:

🍗 Hungry Jack's takes on KFC with new chicken range

✔️ Nike flags supply chain trouble ahead

🛍 Amazon will open physical retail stores

Oh and get this...

A hamster that goes by the name Mr Goxx has been trading cryptocurrencies for months. Yeah, we really did just say that. The hamster determines which crypto to buy or sell by running on a wheel, and strolling through one of two tunnels.

The best part? Mr Goxx's portfolio has increased around 24% since he started in June 12.

Finally a war we can get around...Hungry Jacks v KFC: Best chicken takes it all

Background: The Jack of Hungry Jacks, Jack Cowin, owns Aussie company Competitive Foods. And there are around 400 Hungry Jack's franchises under his umbrella.

What happened: Hungry Jack's has been known for its juicy beef burgers. But now, it's launching its Jack's Fried Chicken Burger range nationwide, which, by the way, has been a whole two years in the making. We're talkin' Fried Chicken Spicy, Fried Chicken Classic and 🤤🤤 Fried Chicken Cheesy Bacon.

What else: Hungry Jacks reckons Aussies are becoming increasingly obsessed with Fried Chicken Burgers.

So what's the key learning?

💡As food trends evolve, so too must the big-time food companies.
💡More than 2.2 million Aussies eat fried chicken at least once a week. That's a whole lotta Aussies who aren't heading to HJs, cos they don't offer a big chicky range.

💡Hungry Jack's reckons a shift towards fried chicken burgers is being caused by two things:

1. The increase in popularity of chicken in Aussie diets, and
2. The increasing cost of beef in Australia (which then drives up the price of beef burgers).

Welcome to the next phase of Australia's fast food wars.‍

Nike's profits are up 23% but they just can't do it again thanks to supply chain issues

Background: We all know Nike for its epic tag-lines like 'just do it', but Nike has been creating a name for itself in the e-commerce space too.

What happened: The company's e-commerce revenue is up 29%. Plus, fewer markdowns have led to profits of 23%. And while it looks like nothing can stop Nike...they've got one teeny...tiny...ok, massive problem.

What else: The demand for Nike gear is there, but supply? Not so much. Nike's Vietnamese factories have been shut down due to COVID. So, even though Nike has been hitting its numbers, it's slashed its revenue forecasts for this year and next year 'cos the supply just ain't there.

So what's the key learning?

💡Business forecasting is when a company makes informed guesses about key business metrics (i.e. sales, expenses, profits) for the future.

💡The forecasts will take into account things that are within the company's control (i.e. sales), as well as anticipate conditions that might be out of their control (i.e. a GLOBAL PANDEMIC).

💡Nike says that global supply chain congestion is hurting the business more than they previously thought. As a result, they've had to slash their 2022 forecasts to account for longer transit times, labour shortages and prolonged shutdowns in Vietnam.

Cmon Jeffrey you can do it...open up those Amazon department stores

Background: Amazon flipped retail on its head over the last decade by making online shopping a breeze, but now they want to open their own physical stores. Weird flex, but okay.

What happened: The Wall Street Journal says Amazon will have its own clothing brands (of which there are more than 100) promoted within the store.

What else: But it ain't just any store. It'll have high-tech dressing rooms as a key part of the shopping experience. So you can think of it like a physical and digital hybrid store. Classic Jeff.

So what's the key learning?

💡Amazon is building physical retail 2.0. And while physical retail 1.0 might be struggling for many brands, it reckons 2.0 will improve profits and experience.

💡You can think of retail 2.0 as the best parts of traditional retail (i.e. touching the clothes, trying them on) combined with a level of tech to enhance the experience.
💡Amazon reckons its high-tech dressing rooms will reduce the abandoned cart problem. Rather than having to call for help through the door, or being too time-pressed to try different options, customers may be able to request more items using a touch screen. Nifty stuff.