Warren Shoulberg of The Robin Report reports that despite inflation, the dwindling middle class is not necessarily trading down to dollar stores the way they used to. He writes: Let’s play a little Dialing for Dollars; the big picture is about Dollar Tree closing. Today’s question is: Why did Dollar Tree decide to close 1,000 of its Family Dollar and Dollar Tree locations? It may be a trick question and the answer is rather complicated. See if you can get the right one: It is the fallout from a deal almost ten years ago that Dollar Tree thought it won…but turned out to have lost … [Read more...]
Confection-Makers Shifting Gears With Soaring Cocoa Prices
Jessica DiNapoli, Maytaal Angel, and Richa Naidu of Reuters report that confection-makers are pitching non-chocolate items as cocoa prices continue to soar. They write: Hershey, Mondelez, and other confection-makers are employing promotions and pitching more non-chocolate Easter treats like cookies 'n' cream bunnies at a time when soaring cocoa prices threaten their profits and shoppers balk at high prices. With shoppers' "impulse buys" of chocolate and candy at convenience stores and in grocery checkout lines down, according to industry data, special occasions like Easter and Halloween … [Read more...]
FTC Accuses Large Retailers of Exploiting Rising Prices
Liz Young of The Wall Street Journal tells her readers how large retailers and wholesalers used their scale to get an edge over smaller competitors. Young writes: Federal regulators said large grocery chains used their size and scale to keep shelves stocked during the pandemic, edging out smaller rivals when most stores struggled with product shortages and distribution bottlenecks. The Federal Trade Commission said in a report released Thursday on the impact of Covid-19 supply-chain disruptions that large retailers used their size to pressure suppliers of food and household goods, … [Read more...]
Reinventing Food Delivery
Sarah Nassauer of The Wall Street Journal reports that Wonder Group CEO Marc Lore is shifting to conventional restaurant delivery, which will require less funding and generate profits sooner, shifting away from its original plan for a nationwide fleet of trucks. Nassauer writes: Food-delivery startup Wonder Group is laying off staff and scrapping its plans to roll out a nationwide fleet of food trucks, shifting to a more conventional and less expensive restaurant delivery model. The shift is a significant change for the four-year-old startup, which currently cooks food with a fleet of … [Read more...]
Vinyl Records Re-Enter Britain’s Inflation Charts
David Milliken of Reuters report that after a 32-year hiatus that vinyl records are making their way back into Britain inflation charts. He writes: Vinyl records will re-enter Britain's inflation charts for the first time in 32 years this month, as part of the annual shake-up of the basket of goods and services used to calculate the pace of price rises. The change in the Office for National Statistics' inflation basket offers a snapshot of shifts in Britons' tastes and needs. "Often the basket reflects the adoption of new technology, but the return of vinyl records shows how cultural … [Read more...]
Commercial Drone Delivery Heating Up
Liz Young of The Wall Street Journal tells her readers that the recent federal approvals have retailers ramping up tests, but hurdles to consumer acceptance remain. Young writes: Cassidy Shorland, a council member in Logan, Australia, wanted a refreshing treat on a hot day recently, but didn’t want to get in his car and leave the office. So Shorland opened a DoorDash delivery app, clicked on a mango-flavored juice from a nearby smoothie chain, then walked outside as a big white-and-yellow drone came into view and lowered a tethered box holding his juice. Shorland, 47, is one of the … [Read more...]
Here Comes the AR Revolution in Retail
Arick Wierson of The Robin Report tells readers the AR revolution in retail is (almost) here. Wierson writes: Augmented Reality (AR) is emerging as a game-changing technology in the retail sector with the promise of revolutionizing the way consumers interact with brands and products. AR technology empowers the user to see his or her real-world environment overlaid with valuable digital data. Although some estimates predict that as many as 1.73 billion consumers will be using AR in some way by 2024, we think this number is either grossly overly aggressive or using a … [Read more...]
Battle of the Retail Giants
Patrick Seitz of Investor's Business Daily is reporting that Walmart is in talks to buy TV maker Vizio, a deal worth more than $2 billion. They write: Retail giant Walmart (WMT) is looking to follow Amazon (AMZN) in the market for internet television advertising by buying smart TV maker Vizio (VZIO), the Wall Street Journal reported. Vizio stock surged on the news, while rival Roku (ROKU) fell. The Journal late Tuesday said Walmart is in talks to buy Vizio in a deal worth more than $2 billion. The acquisition would give Walmart a new online platform to sell advertising and pitch … [Read more...]
Amazon Lowers Merchant Fees to Target Rivals
Sebastian Herrera and Shen Lu or The Wall Street Journal tell their readers that Shein and TikTok are expanding in Amazon’s backyard and recruiting its employees. They write: Fast-fashion company Shein and TikTok’s shopping unit are expanding in Amazon.com’s territory, seeking to poach Amazon’s employees and building out workspaces in the same Seattle-area office tower. The two companies are bolstering their staff at a 22-story tower near Seattle known as the Key Center, and both are recruiting current and former Amazon employees as they expand their U.S. logistics and supply-chain … [Read more...]
Retail Giant Doing Some Heavy Lifting to Bulk Up
Sarah Nassauer of The Wall Street Journal tells her readers how the retail giant Walmart is changing its tactics, reversing a strategy it had once focused on of keeping its store count flat. Nassuaer writes: It has been a while since Walmart felt it was too small. The retail giant plans to open or expand 150 stores in the U.S. over the next five years, reversing a strategy that had focused on keeping its store count flat. Most stores targeted in the project will be new locations. Walmart in 2016 began to slow new store openings as it worked to fend off Amazon.com, saying it aimed to … [Read more...]
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