CEO of Hershey Co., Michele Buck is trying to generate more sales of the company's candy and chocolate online. The question is, can the ultimate impulse buy, junk food, succeed in an online sales format where people have to plan their consumption ahead? Julie Jargon and Annie Gasparro report for The Wall Street Journal, writing: Chief Executive Michele Buck said at The Wall Street Journal’s Global Food Forum on Thursday that food companies have lagged retailers in embracing e-commerce. “The lines are blurring between physical stores and digital shopping,” Ms. Buck told attendees of the … [Read more...]
Brick-and-Mortar’s Not Dead Yet
Amazon is bringing its online talents to the brick and mortar world by building a store in New York City that sells some of the e-commerce giant's best rated products. This novel idea of using an online data advantage to put items customers really want within their reach at all times might just work. As big retailers compete to find the best mix of physical locations and online sales, innovations like this could be the key to success. Laura Stevens reports in The Wall Street Journal: Amazon.com Inc. AMZN +1.38% on Wednesday said it is opening a new bricks-and-mortar store that will … [Read more...]
Never Checkout at the Store Again?
With Amazon's new cashierless technology, the promise is that you won't need to wait in lines or checkout. Simply pick up the items you want, put them in your cart and head for the door. Amazon will keep track of your purchases with sensors and computer-vision technology and then charge your account when you leave. Bloomberg's Spencer Soper reports that Amazon plans on opening 3,000 of the stores over the next few years. He writes: Amazon.com Inc. is considering a plan to open as many as 3,000 new AmazonGo cashierless stores in the next few years, according to people familiar with matter, an … [Read more...]
Americans Still Shopping Like it’s 2009
Despite nearly ten years since the market lows of the Great Recession, Americans are still looking for deals when they shop. With a changing landscape, there may never be a return to "normal," for American retailers. Lauren Thomas reports at CNBC: "Fundamentally, as prices have come down in retail, that has squeezed out many retailers," Meyer said. "My sense is that is still true today." Shoppers still have a higher sense of price value, he said, and apparel is less of a focus when shoppers think about their budgets. That's really weighed on apparel companies. Shares of Ralph Lauren have … [Read more...]
Revving up Tiffany at New York’s 5th Avenue & 57th Street
The Tiffany & Co. flagship store on 5th avenue alone generates as much revenue as all of Pinterest. So reports John Stoll in The Wall Street Journal. Such a piece of evidence should help everyone understand that the idea that brick and mortar stores are dead is a fallacy. Most shopping is still done face to face, and despite the rapid and impressive growth of e-commerce, many people still enjoy seeing the products they'll buy in person before purchase. Stoll explains how, instead of accepting defeat, Tiffany is revving up its New York flagship store with a $250 million investment. He … [Read more...]
What’s Happening at Walmart?
With all the attention given to Amazon's business, some investors may have forgotten about the former biggest name in retail, Walmart. But, the big box store appears to be back. With 40% growth in its e-commerce business last quarter, Walmart is transforming its strategy and riding the online shopping wave. Aaron Back reports at The Wall Street Journal: Investors are starting to give Walmart credit for that growth but the stock price still underestimates the power of the retailer. Leveraging its 2016 acquisition of Jet.com, Walmart today offers free, nationwide two-day shipping on … [Read more...]
Retailers Rebound on Strong Consumer Spending
American consumers are confident. Low unemployment is putting money in their pockets, and they are spending strongly. Retailers are feeling the strength, with sales climbing. The Wall Street Journal reports: Buoyed by rising wages and employment as well as tax cuts, Americans are spending more on products as diverse as jeans, handbags and wall paint. That has translated to rising sales at not just Walmart and Nordstrom, but also Home Depot Inc. HD 0.72% and Coach ownerTapestry Inc. TPR -1.33% “Customers tell us that they feel better about the current health of the U.S. economy as well as … [Read more...]
Is Voice Shopping Already Dead?
Amazon has dominated the market for smart speakers with Alexa. The allure of being able to shop via voice may have helped Amazon sell its speakers, but voice shopping isn’t catching on. Bloomberg reports that Amazon has sold about 50 million Alexa devices, but only 2% of people have made a purchase using their voice. And 90% of people who tried to make purchases using Alexa haven’t tried it again. Sans the shopping is Alexa anything more than a better sounding Siri? About 2% of people with devices that use Amazon’s Alexa intelligent assistant, mostly Amazon’s own Echo line of speakers, … [Read more...]
Are Americans Finally Ready to Buy Groceries Online?
Since the early days of the dotcom era, companies have been attempting to crack the code on a way to sell groceries online for home delivery. Many companies have tried and failed, but a new breed of startup, along with a new internet savvy group of young shoppers may be ready to break the cycle. FreshDirect, along with Amazon, Kroger, Walmart, and other companies are using new technologies to make groceries ordered online work for American consumers. Jennifer Smith at The Wall Street Journal reports on FreshDirect: FreshDirect launched its online-only service in 2002 in New York. Its green … [Read more...]
Has Amazon Officially Jumped the Shark?
Would you buy your tires from Amazon? According to Fortune, Amazon is getting into the tire business. Yup, the tire business. An e-commerce tire business? Apparently we are going to try that. As Fortune reports here, Amazon is partnering with car maintenance firm Monro to sell tires. Monro will initially offer tire-installation services to Amazon customers in the Baltimore area before expanding to more than 1,170 stores across 27 eastern states, the Rochester, New York-based company said in a statement Thursday. The company, which offers similar services to customers of online sellers … [Read more...]
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