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☆ Wayfair to open its first large store, as physical locations make a comeback
▼ + stars: | 2024-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +10 min

Wayfair follows other direct-to-consumer brands that have opened stores, including Warby Parker , Figs , Casper, Glossier and Everlane. In the early 2010s, new store openings largely outpaced closures, until the tide turned in 2017. Jeenah Moon | Bloomberg | Getty ImagesOther privately held direct-to-consumer brands have also expanded into retail stores, including bedding company Brooklinen, furniture store Burrow and apparel brands Everlane and Untuckit. High cost of entryIf direct-to-consumer brands could all open stores and suddenly boost sales and profitability, they'd all be doing it. Courtesy: WayfairSome direct-to-consumer brands have already been burned after they expanded too quickly and demand fell.

Persons: Niraj Shah, Wayfair, Warby Parker, Glossier, They're, Larry Cheng, It's, you'll, Liza Lefkowski, Shah, Coresight, John Mercer, Coresight's, Trina Spear, Spears, King, King of Prussia, Rebecca Fitts, Alvarez, Tolia, Allbirds, Al Drago Organizations: CNBC, Apple iOS, Companies, Walmart, Target, Joss, Discount, TJX, Bloomberg, Getty, Marsal, Washington , D.C Locations: Wilmette , Illinois, Chicago, Casper, Amazon, U.S, Coresight Research's, Burlington, Los Angeles, Philadelphia, King, King of Prussia , Pennsylvania, Georgetown, Washington ,

☆ Home Depot's growth will depend on rate environment for big-ticket purchases: Cowen's Rakhelenko
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome Depot's growth will depend on rate environment for big-ticket purchases: Cowen's RakhelenkoMax Rakhelenko, Cowen analyst, and Deborah Weinswig, Coresight Research CEO, join 'Squawk on the Street' to discuss Home Depot's quarterly earnings results, what the quarter says about the state of the consumer and the company's SRS acquisition.

Persons: Max Rakhelenko, Cowen, Deborah Weinswig Organizations: Coresight

☆ Shein's U.S. charm offensive and IPO could hinge on NRF membership. So far, it's been rejected
▼ + stars: | 2024-05-13 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

Open to allIt's unclear why the NRF rejected Shein's membership application, but according to one of the people familiar, someone with sway is strongly against the company's admittance. The NRF's board has a leadership team and an executive committee. An NRF membership application form that can be found online states: "Companies principally engaged in retailing are eligible for membership in the Federation." Two of the board members said they weren't aware of any instances where the NRF denied a retailer membership. "I don't think they are in the business of turning anyone down," one of the board members told CNBC.

Persons: Scott Olson, Matthew Shay, Courtney Reagan, CNBC Steve Dennis, Neiman, Sears, Dennis, Shein, John Furner, Bob Eddy, Mike George, Brian Cornell, Tony Spring, wasn't, Wang Ying, Ashley Sanchez, Joscelin Flores, Allen J, They've, Temu, it's Organizations: Getty, National Retail Federation, CNBC, Neiman Marcus, New York Stock Exchange, Shay, Walmart U.S, BJ's Wholesale, Qurate, QVC, Federation, Brands, Publicis Groupe, Coresight, Xinhua News Agency, Forum, World Retail, Los Angeles Times, Chinese Communist Party Locations: Whitestown , Indiana, New York City, America, U.S, New York, United States, Hamburg, Germany, Los Angeles, Paris, Davos, Switzerland, Las Vegas, Shoptalk, Fontana, Ontario Mills, Ontario

☆ Costco and Sam's Club's smaller rival BJ's Wholesale will open more clubs in Southeast
▼ + stars: | 2024-03-27 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Similarly, club stores resonate with budget shoppers because they emphasize getting more for less. The smaller rival of Costco and Walmart -owned Sam's Club is just the latest warehouse club to share its goals for expansion. The company plans to open a dozen new clubs this fiscal year, including an already announced club in Louisville, Kentucky. Most of the Marlborough, Massachusetts-based retailer's clubs have been concentrated on the East Coast. BJ's Werner said the company's typical customer has an average household income of between $75,000 and $100,000.

Persons: Costco, BJ's, Bill Werner, Werner, Greg Melich, Melich, That's, BJ's Werner, it's Organizations: U.S, Research, Costco, Walmart, Sam's, BJ's Wholesale, Washington D.C, Evercore ISI, Kroger Locations: Burlington, Aldi, U.S, Maryville , Tennessee, Myrtle Beach , South Carolina, Palm Coast, West Palm Beach , Florida, Carmel , Indiana, Louisville , Kentucky, Midwest, Marlborough , Massachusetts, East Coast, Washington, Puerto Rico, Tennessee , Alabama, Indiana, Michigan

☆ How America’s once great department stores became a dying breed
▼ + stars: | 2024-02-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

But department stores, focused on America’s middle class, are fading. The victims of shifting consumer tastes were not the department stores that anchored the local mall, it was the small, locally owned stores along downtown shopping districts that were closing their doors. And possibly even more than the big box competitors, department stores have suffered from consumers shifting to buying items online rather than in person. The steady closing of the department stores that once served as “anchors” of malls across suburban America has been another nail in the coffin of many malls, hurting the department stores that remained in hollowed-out malls with a fraction of their earlier traffic. Saunders said one of the primary problem for Macy’s is that its holding company, formerly known as Federated Department Stores, spent much of its resources on buying other department store brands, such May’s Department Stores, and Filene’s, rather than investing in the stores its held.

Persons: New York CNN —, Neil Sauders, ”, JC Penney, It’s, “, Neil Saunders, Shannon Stapleton, Saunders, ” Saunders, Al Bello, Sunny Zheng, Macy’s, Tony Spring, Taylor, Brian Snyder, Eddie Lambert, Michael Brown, Kearney, ” Brown, Mike Segar, Richard W, Sears, Alvah Roebuck, Sears Roebuck, Bettmann, PhotoQuest, Jack Manning, Frank Scherschel, Owen, Lucille Jagusch, Arlene Hardt, Martin Luther King Jr, Michael Ochs, Ron Frehm, Ralf, Finn Hestoft, Mark Peterson, Seth Meyers, Hugh Jackman, NBCUniversal, Kaylin Wilson, Jim Cole, Rene Johnston, Maria Alejandra Cardona, Scott Olson, Cesar Villasenor, Mel Melcon, Sarah Blesener, Paul Hennessy, Patti Naleck, Naleck, Stacey Wescott, Brown Organizations: New, New York CNN, American, Walmart, Company, Department, Sears, Target, GlobalData, JCPenney, Research, RadioShack, Reuters Sears, Federated Department Stores, May’s, Reuters, Chicago History, Sears Roebuck, Roebuck, Hulton, AP, AP Soldiers, Michael Ochs Archives, Getty, Bettmann, Kmart, Bloomberg, Toronto Star, Reuters Residents, Los Angeles Times, New York Times, Chicago Tribune, Tribune, Service Locations: New York, GlobalData, America, Nanuet , New York, North Redwood , Minnesota, Chicago, El Paso , Texas, Jackson , Mississippi, Tucson , Arizona, Caracas, Venezuela, Niles , Illinois, Morton Grove , Illinois, Baltimore, White Plains , New York, Woodfield , Illinois, Hicksville , New York, Nashua , New Hampshire, Mentor , Ohio, Mississauga , Ontario, Hialeah , Florida, Janesville , Wisconsin, Santa Monica , California, Rockaway , New Jersey, Leesburg , Florida, Schaumburg , Illinois

The sign for a Gap store is seen on 5th avenue in midtown Manhattan in New York June 16, 2015. The company expects fourth-quarter net sales to be flat to slightly negative, compared with analysts' expectations for a 0.33% rise, according to LSEG data. Banana Republic and Athleta's sales fell 11% and 18% in the third quarter, while Old Navy, Gap's biggest brand, recorded a 1% decline. Its net sales of $3.78 billion - mainly aided by its Old Navy brand - beat Wall Street expectations of $3.60 billion. Gap reiterated that fiscal 2023 net sales would decline in the mid-single-digit range.

Persons: Brendan McDermid, Richard Dickson, Deborah Weinswig, Weinswig, Zachary Warring, Katrina O’Connell, Ananya Mariam Rajesh, Kate Masters, Devika Syamnath, Matthew Lewis Organizations: REUTERS, Old Navy, Walmart, Banana, Gap's, Republic, Navy, Banana Republic, Thomson Locations: Manhattan, New York, Bengaluru

CNN —Target is closing nine stores in four metropolitan areas: the San Francisco Bay Area, Portland, Seattle, and New York. Here are four charts showing what retailers are facing in those areas where Target is closing stores. The six counties where Target is closing stores saw exoduses in high earners larger than the average for similar counties. Census data also shows that the six counties where Target is closing stores had a higher percentage of remote workers compared to their states as a whole. In the markets where Target is closing stores, the shortages persist.

Persons: it’s, David Johnston, Connor O’Brien, ”, O’Brien, ” O’Brien, Johnston Organizations: CNN, Coresight Research, National Retail Federation, Economic, Group, McKinsey, Department of Commerce, of, Labor Locations: San Francisco Bay Area, Portland, Seattle, New York, it’s, O’Brien

However, the fall Prime event might have better prices for home goods. In fact, the best prices happened on days that were not key shopping event days. Regardless, the July Prime event offered a deeper discount to shoppers when compared to last year's October Prime sale and Super Saturday. The product did go on sale during last October's Prime member event and this past July's Prime sale, but the discounts were not as deep. Downloads of Amazon's shopping app have declined steadily during each subsequent Prime member shopping event since Amazon's Prime Days in July 2021, according to data intelligence platform Apptopia, which tracks mobile app usage for brands like Amazon.

Persons: Tom Williams, Nick Handrinos, Julie Ramhold, it's, Ramhold, iRobot's, Keurig, AF101, fryer, The Bissell Organizations: Washington , D.C, Cq, Inc, Getty, Adobe, Amazon Prime, Gallup, Finance, Deloitte, CNBC, Electronics, Deal, CoreSight Research, NBC, Scout, Amazon, Sony, Black, Health, Revlon, Philips, July's Locations: Washington ,, Research's U.S

☆ Our takes on new Wall Street research analyzing 4 Club consumer stocks
▼ + stars: | 2023-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

There was lots of consumer stock research from Wall Street on Friday, including reports on Club names Costco (COST), Procter & Gamble (PG), beer maker Constellation Brands (STZ) and off-price retailer TJX Companies (TJX). HSBC also said Costco's premium stock multiple is worth it given management's strong execution, sustainable competitive advantages, and growth outlook. The analysts said that P & G has built "one of the strongest set of capabilities in the consumer staples sector." You will not see us trade Costco. TJX YTD mountain TJX Companies YTD In a note Friday, UBS sees department stores still losing share to off-price retailers in both sales and earnings before interest and taxes (EBIT) dollars over the next 10 years and beyond.

Persons: We're, Goldman Sachs, Goldman, Bill Newlands, Jim, TJX, It's, Jim Cramer's, Jim Cramer Organizations: Wall, Costco, Procter, Gamble, Constellation Brands, TJX Companies, HSBC, Coresight Research, Gamble YTD HSBC, Constellation, Modelo, Corona, Constellatio Brands, Elliott Management, UBS, Marshalls, Burlington, Ross Stores, CNBC, Corbis, Getty, & & $ Locations: U.S, Mexican, Maxx, Teterboro , New Jersey

☆ American Eagle sues Westfield over San Francisco mall conditions
▼ + stars: | 2023-09-13 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

It shifted all the blame to San Francisco,” American Eagle said in the complaint. American Eagle signed its lease with Westfield in 2017, and it expires in 2028. Once a bustling retail center in the heart of San Francisco, the San Francisco Centre has taken a significant hit in the past few years. San Francisco Mayor London Breed has proposed tearing down abandoned retail spaces, including the Westfield mall. As San Francisco’s downtown area has struggled over the last three years, property crimes and retail thefts have risen, according to San Francisco Police Department data.

Persons: “, San Francisco Mayor London Breed Organizations: New, New York CNN, Eagle, Westfield, San Francisco Centre, American Eagle, “ Westfield, Nordstrom, San Francisco, San Francisco Mayor London, CNN, San Francisco Police Department Locations: New York, San Francisco, Westfield, Banana Republic, Union, Francisco’s

☆ It’s not just crime: What’s really going on with San Francisco’s shrinking retail district
▼ + stars: | 2023-08-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Mapping the exodusUnion Square has historically been a major commercial hub in the heart of San Francisco’s downtown. A complicated decline in downtownThe reasons for downtown San Francisco’s economic troubles are multi-faceted. In addition, San Francisco’s downtown has experienced a rise in its unhoused population. As San Francisco’s downtown area has emptied over the last three years, property crimes and retail thefts have risen, according to San Francisco Police Department data. Travel to San Francisco has yet to recover fully to pre-pandemic levels, according to data from San Francisco International Airport.

Persons: —, ”, Elon Musk, Tesla, Francisco, “, Lori Lincoln, San Francisco —, Lincoln, Breed, Alexander Quinn, Breed’s, Sarang Peruri Organizations: Los Angeles CNN, Lease, Google, city’s, Nordstrom, CNN, Westfield, San Francisco Centre, KGO, University of California, San Francisco Police Department, San Francisco International, San Francisco Travel, Tourism, San, Oxford Economics, Asia hasn’t, San Francisco Mayor London, Francisco’s, Oxford Capital Group, Ikea, IKEA Locations: Francisco’s, United States, San Francisco’s, Union, Westfield, San Francisco, San, California, Redfin, Palo Alto, Asia, Americas, Europe, Pacific, San Mateo, Lincoln, China, Downtown, Chicago

☆ Nordstrom closes its San Francisco store after 35 years
▼ + stars: | 2023-08-28 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Nordstrom closed the doors of its five-story department store in San Francisco on Sunday, ending a 35-year run as the city suffers a retail exodus. After Nordstrom announced it was closing, shopping mall operator Westfield said it would give up control of its San Francisco mall, citing “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.”Once a bustling retail center in the heart of the city, the San Francisco Centre has taken a significant hit in the past few years. Three years later, corporate America has yet to return in the same numbers: Office vacancies in San Francisco have reached a 30-year high. In total, more than 39 retail stores have shuttered in San Francisco’s Union Square area since 2020, according to a tally from Coresight, a market research firm. City leaders are hopeful that the home furniture store will draw shoppers to downtown San Francisco and support other businesses in the area at a time of store closures and rising public safety concerns.

Persons: New York CNN — Nordstrom, Nordstrom, ” Organizations: New, New York CNN, Sunday, ” Shoppers, CNN, KGO, Nordstrom, Westfield, San Francisco, San, Anthropologie, Ikea Locations: New York, San Francisco, Westfield, Westfield’s, America, San Francisco’s Union

☆ Stores are leaving San Francisco. Ikea is opening this week
▼ + stars: | 2023-08-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Ikea is opening a new store in downtown San Francisco Wednesday, bucking the trend of retailers closing in the city. Ikea is opening a new store this week in downtown San Francisco at 945 Market Street. While violent crime statistics in San Francisco have remained relatively low in recent years, property crimes have risen since 2020, according to San Francisco Police Department data. Activity this spring in downtown San Francisco, as measured by mobile phone use, was 68% below its pre-pandemic levels, the largest decline of any US city. In June, shopping mall operator Westfield announced it would give up control of its San Francisco mall, citing “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.”A month earlier, Nordstrom, one of the biggest retailers in Westfield, said it would shutter both of its San Francisco stores.

Persons: San Francisco Mayor London Breed, Nordstrom, San Organizations: New, New York CNN, Ikea, Shoppers, IKEA, San Francisco Mayor London, San Francisco Police Department, Westfield Locations: New York, San Francisco, San, San Francisco’s Union, Westfield, Francisco

☆ The US mall is making a comeback as retailers leverage digital marketing
▼ + stars: | 2023-08-20 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +9 min

The mall as a retail concept is alive and well, with retailers pivoting to fit the demands of a digital age. A shopper carries retail bags while walking through a shopping mall in Columbus, Ohio, U.S., on Friday, Dec. 10, 2021. A socially conscious generation acutely aware of climate change, Gen Z is also more likely to support brands prioritizing sustainability. That in-store experience is so critical.”People stroll through a shopping mall in Foxborough, Massachusetts, on May 18, 2023. “There has been a rise in ‘experience-focused’ tenants in shopping malls that offer experiences like go-karting, trampolining, virtual reality, and arcades,” said ICSC vice president Stephanie Cegielski.

Persons: Coresight, ”, Deborah Weinswig, Brandon Isner, CBRE’s, Kirsten Lee, ” It’s, ” Coresight, Tal Yellin, Isner, Luke Sharrett, Stephen Yalof, Warby Parker, Allbirds, Al Drago, Lee, Gen, Gen Zers, Erin Clark, it’s, Stephanie Cegielski, Covid, “ Organizations: New, New York CNN — Retail, Coresight Research, Retail Research, Brookfield Properties, “, Simon Property Group, Taubman Centers “, Tanger Outlets, CNN, Bloomberg, Getty, Tanger, Washington , D.C, International Council of Shopping Centers, “ Social, Boston Globe Locations: New York, Americas, Brookfield, Nashville , Tennessee, Chelsea , New York, Columbus , Ohio, U.S, Georgetown, Washington ,, ’, Foxborough , Massachusetts

☆ 'Ho hum holiday' expected as shoppers deal with economic cross currents
▼ + stars: | 2023-08-16 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

Even though it’s still August, eyes are already on how the upcoming holiday shopping season will pan out. Coresight expects the 2023 year-end holiday sales for October through December to be up by just low single digits from a year ago. Harmon said this year’s forecast rests on the shoulders of “a couple of good years of strong holiday sales growth, making comparisons more difficult, and takes into account holiday spending is occurring sooner.”“The patterns of holiday spending have changed. The same pattern was repeated last year, effectively elongating the holiday sales season. At the same time, Harmon said US retail sales are slowing.

Persons: it’s, ”, John Harmon, Coresight, Harmon, Marshal Cohen, Cohen, ” Cohen Organizations: New, New York CNN, Coresight Research, National Retail Federation, Amazon, Walmart, Home, CNN, Federal Reserve Bank of New, P Global Market Intelligence Locations: New York, Santa, Federal Reserve Bank of New York

☆ Back-to-school shopping started off better than people expected, says Coresight's Deborah Weinswig
▼ + stars: | 2023-08-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBack-to-school shopping started off better than people expected, says Coresight's Deborah WeinswigJohn San Marco, Neuberger Berman Portfolio Manager and Deborah Weinswig, Coresight Research CEO, joins 'Closing Bell Overtime' to talk Cava earnings, more retail earnings to come this week, the state of the consumer and more.

Persons: Deborah Weinswig John San Marco, Neuberger Berman, Deborah Weinswig Organizations: Coresight

Whole Foods temporarily closed one of its San Francisco locations due to rampant shoplifting and continued threats to workers and customers. Park Hotels and Resorts, the investment firm that owns Hilton San Francisco Union Square and Parc 55 hotels, also recently revealed it would leave the city. A bus drives by the Westfield San Francisco Centre on June 14, 2023 in San Francisco, California. Downtown San Francisco has an estimated 18.4 million square feet of available real estate. While violent crime statistics in San Francisco have remained relatively low in recent years, compared to other major cities, property crimes have risen since 2020, according to San Francisco Police Department data.

Persons: Los Angeles CNN — John Chachas, Governor Newsom, ” Chachas, Chachas, San Francisco “ unlivable, Gavin Newsom, Justin Sullivan, Nordstrom, Thomas Baltimore , Jr, ” What’s Organizations: Los Angeles CNN, London Breed, city’s, San Francisco Chronicle, Chachas, Republican, London, San, Anthropologie, Whole Foods, Westfield, Resorts, Hilton San Francisco, Square, Westfield San Francisco Centre, San Francisco Police Department, University of California Locations: San Francisco, California, Francisco, ”, Nevada, San Francisco’s, Union, San Francisco’s Union, San Francisco , California, Park, San Francisco's, U.S, Canada, Downtown San Francisco

☆ A TikToker shows how to get an entire week's worth of groceries from Dollar General for just $35
▼ + stars: | 2023-08-14 | by ( Dominick Reuter | Alex Bitter | ) www.businessinsider.com time to read: +6 min

Rebecca Chobat is an expert at shopping Dollar Tree to stock up on groceries with a $35 budget. DollarTreeDinnersAlthough she said Dollar General is sometimes known as being the more expensive option, the brand's 19,000 locations in the US exceed the 16,400 stores owned by Dollar Tree. Dollar Tree also owns Family Dollar. Dollar Tree and Dollar General ranked among the top five retailers from which consumers bought food in 2022, per Coresight Research. "Ultimately I paid $35.71, plus tax, and for that I got a pretty considerable amount of groceries," Chobat said.

Persons: Rebecca Chobat, Chobat, creamer Organizations: Dollar, Service, creamer Locations: Wall, Silicon, United States, bologna

☆ Why Amazon’s Prime Day is in July
▼ + stars: | 2023-07-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Amazon Prime Day is back again starting Tuesday. “Step Aside Black Friday - Meet Prime Day,” Amazon (AMZN) said in a press release unveiling the sale. Prime Day helps Amazon draw new members to Amazon Prime, its $139 annual free-shipping program, and bolsters existing customer relationships with the company’s products and businesses, which includes Whole Foods. The vast majority of the company’s offerings on Prime Day in the past are exclusive to Prime members. This will be the first Prime Day with Amazon’s revamped delivery network.

Persons: Doug Anmuth, Amazon’s Organizations: New, New York CNN, Amazon, Research, Bank of America, Amazon Prime, Target, Walmart Locations: New York, Detroit, Amazon

☆ Can AI save commercial real estate in San Francisco?
▼ + stars: | 2023-07-10 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

In an aerial view, cars drive by the San Francisco skyline as they cross the San Francisco-Oakland Bay Bridge on October 27, 2022 in San Francisco, California. Alexander Quinn, senior director of research at commercial real estate company JLL, said his firm sees bright spots in San Francisco’s commercial real estate market as AI companies drive office leasing demand. A shopper exits the Westfield San Francisco Centre shopping mall in San Francisco, California, US, on Tuesday, June 13, 2023. The US Census Bureau reports an estimated 35% of employees in San Francisco and San Jose continue to work from home. “I think the crash is coming, and it hasn’t happened yet,” he added, referring to commercial real estate prices.

Persons: Naveen Rao, CBRE, Justin Sullivan, it’s, ” Rao, San, Alexander Quinn, JLL, ” Quinn, Rao, OpenAI, ”, “ There’s, MosaicML, Quinn, “, Francisco’s, David Paul Morris, Henrique Dubugras, ” Michael Tannenbaum, Tannenbaum, Hans Hansson Organizations: CNN, San, Westfield, San Francisco Centre, Westfield San Francisco, Bloomberg, Getty, London, US, “ Locations: San Francisco, Southern California, Francisco, Oakland, San Francisco , California, ”, “ San Francisco, New York, Los Angeles, city’s, San Francisco’s Union, Coresight, Westfield San Francisco Centre, California, Francisco’s, San Jose, decamping, United States

☆ MLB All-Star Game, baseball cards, are first big test of Fanatics livestream shopping experience
▼ + stars: | 2023-07-10 | by ( Ian Thomas | ) www.cnbc.com time to read: +5 min

(Photo by Justin Berl/Getty Images)Fanatics' first livestream shopping event will feature collectors opening baseball trading card packs on the field during this week's Major League Baseball All-Star Game events in Seattle. The sports platform's new business division, which is called Fanatics Live, is centered around live shopping experiences during which users will be able to buy trading cards and other collectibles on the Fanatics Live app while watching streams of hosts and other collector sellers. "Our intention is to have Fanatics Live be the leader in the live commerce space," Bell said. Livestream shopping, which got its start in China and across Asia, has grown into a $512 billion market, according to Coresight Research. Bell acknowledged the challenges for livestream shopping in the U.S. but said he sees them as an opportunity.

Persons: Justin Berl, Nick Bell, Bell, — Bell, —, Chris Lamontagne, Scott Rogowski, Michael Rubin, – Bell Organizations: Pittsburgh Pirates, Milwaukee Brewers, PNC Park, Major League Baseball, Google, Mobile, Research, eBay, Facebook, QVC, U.S, Meta, CNBC Disruptor Locations: Pittsburgh , Pennsylvania, Seattle, U.S, China, Asia

☆ Amazon's own Prime members prefer Walmart over Whole Foods. It's a worrying sign for the tech giant's grocery aspirations.
▼ + stars: | 2023-06-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Prime members are more likely to buy groceries online at Walmart than Amazon's stores, per a survey. Previously, Prime members could get free delivery from Amazon Fresh if they ordered at least $35 in items. Although they tend to prefer Walmart, Amazon Prime members are much more likely to order from Whole Foods than non-Prime members are. Noam Galai/ContributorDespite Walmart gaining ground, Coresight found that Prime members were still more likely than non-Prime subscribers to order from Amazon-owned grocers. Do you work or shop at an Amazon Fresh or Whole Foods store and have a story to share?

Persons: —, Sujeet Naik, Naik, Coresight, Noam Galai, Jason Buechel, Alex Bitter Organizations: Walmart, Foods, Service, Amazon Prime, Coresight Research, Amazon, Kroger, Costco, Shoppers Locations: Bentonville , Arkansas

☆ US retail sales rose in May
▼ + stars: | 2023-06-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Retail sales at stores, online and in restaurants grew 0.3% in May from April, the Commerce Department reported on Thursday. Retail sales data is adjusted for seasonality but not for inflation. Excluding sales at gasoline stations, retail spending increased by a faster clip of 0.6%. From a year ago, overall retail sales rose 1.6% in May. Impact of the labor marketWhile retail sales held up in May, spending has erred on the weaker side after a big jump in January.

Persons: Brian Field, ”, Joshua Shapiro, Maria Fiorini Ramirez, Jerome Powell, Thomas Simons, Deborah Weinswig Organizations: DC CNN, Commerce Department, Sensormatic Solutions, CNN, Federal Reserve, Jefferies, “, Coresight Locations: Washington

Livestream shopping started on social media in China, and according to Coresight Research, has grown into a $512 billion market. The secret to his success, he told CNBC, has been diving into the world of livestream shopping. However, CEO Deborah Weinswig told CNBC the firm has since revised that projection. The firm also estimates livestream shopping will account for more than 5% of total e-commerce sales in the U.S. by 2026. Influencer Danielle Santana hosts live shopping shows on Amazon , selling products from other businesses — everything from cheese graters to make-up sponges.

Persons: I've, Velez, TikTok, Anthony Velez, Deborah Weinswig, didn't, Weinswig, CNBC they're, Eddie Garcia, we're, Garcia, he's, Influencer Danielle Santana, Santana, Coresight's, livestreaming, it's Organizations: eBay, U.S, Research, CNBC, Poshmark, Amazon, Facebook, Meta Locations: China, New York City, U.S

☆ Inside the $50 billion shopping spree happening on livestreams
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside the $50 billion shopping spree happening on livestreamsLivestream shopping started on social media in China, and according to Coresight Research, has grown into a $512 billion market. That market size might explain why some major platforms are rushing to grab a piece of the action here in the U.S.

Organizations: Research Locations: China, U.S

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