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9 mentions found


☆ A Walmart exec explains the surprising reason low-income shoppers pay for a delivery membership
  + stars: | 2024-09-12 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +1 min
Grocery delivery is not just a perk reserved for middle- and upper-income households, Walmart says. One exec said cash-strapped shoppers are "doing the math" and seeing that delivery saves money. Go to newsletter preferences Thanks for signing up! AdvertisementConveniences like same-day delivery, especially for perishables items like groceries, are one of the more luxurious features of modern retail. As it happens, Walmart says such perks are not just reserved for middle- and upper-income households.
Persons: — Organizations: Walmart, Service, Business
☆ Target workers say they're walking as much as 20 miles a day. It's a sign of just how physical retail work has become.
  + stars: | 2024-08-09 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +4 min
This story is available exclusively to Business Insider subscribers. AdvertisementOver on Reddit, Target workers have posted some big numbers, often topping the 10 miles that caught the attention of Walmart's CFO. one user said on a subreddit for Target workers in July. Healthcare workers topped the list: It said some hospital staffers could reach 60,000 steps, or 30 miles, during a 12-hour shift. A Target spokesperson told Business Insider that while the company did estimate time and distance as part of assigning work, it did not individually track employees' movements throughout the day.
Persons: —, John David Rainey, they've Organizations: Service, Business, Apple, US Postal Service, CNBC, Target, Walmart Locations: Reddit, Tennessee
☆ Temu was one of the fastest-growing websites in 2023, new data shows
  + stars: | 2024-01-23 | by ( Madeline Stone | ) www.businessinsider.com   time to read: +3 min
Temu was among the fastest-growing large websites in the US last year, according to a new analysis by Similarweb. When considering only websites with more than 10 million monthly visits, Temu came in second only to OpenAI, which saw its traffic grow by 2,690% in 2023 as AI exploded into the mainstream. The ad intelligence company told Modern Retail that Temu spent an estimated $517 million on US ads between September and December 2023. AliExpress, the Alibaba-owned online marketplace, was in third place behind Temu with year-over-year traffic growth of 290%. AliExpress was launched in 2010 but still saw significantly less traffic than Temu in 2023, with an average of about 24.2 million monthly visits.
Persons: Temu, David Carr, AliExpress, Carr Organizations: Pinduoduo Holdings, Business, Modern, Duo Security Locations: Boston, China
☆ Shein plans to bolster compliance and logistics execs ahead of US marketplace
  + stars: | 2023-05-31 | by ( Arriana Mclymore | Thomson Reuters | Arriana Mclymore Is A New York-Based Reporter Covering E-Commerce | ) www.reuters.com   time to read: +3 min
The company is hiring a U.S. head of logistics, who will be a liaison between Shein’s U.S. and Singapore headquarters, according to a LinkedIn job posting. The company is also hiring an anti-money laundering and compliance executive and a number of U.S. marketplace personnel, as reported by Modern Retail. Shein did not immediately respond to requests for comment on the head of logistics position. The head of logistics will manage Shein’s relationships with its third-party logistics companies, warehouses and trucking companies. Critics of the exemption also worry that de minimis shipments from China evade regulations banning forced labor in the consumer product supply chain.
Persons: Shein, Shein's, Arriana McLymore, Chizu Organizations: YORK, U.S, Shein’s U.S, Modern Retail, Securities and Exchange Commission, Chinese Communist Party, Thomson Locations: North America, China, Singapore, U.S, China . U.S, Brazil, minimis, New York City
☆ Creator economy experts say 2023 will be a buyer's market for M&A. Here are 5 themes to watch, from tech buyers like Shopify to startup consolidation
  + stars: | 2022-12-30 | by ( Marta Biino | Sydney Bradley | ) www.businessinsider.com   time to read: +12 min
"As a result, institutional acquirers, like PE firms who still have dry powder to spend, will start snatching up mid-to-large sized creator startups at much more advantageous prices." Insider spoke with creator-economy and market experts about what deals and the broader M&A landscape in 2023 may look like. "They're going to see that the creator economy exists as a direct failure of them to support creators," Gestetner said. "But if an opportunity arises for us to significantly enhance our capabilities to make us a better business powering the creator economy, we'll consider it." Startups can expect consolidation in saturated marketsThe crowded niches within the creator economy startup sphere could also face a wave of consolidation.
☆ It's just the beginning of M&A in the creator economy. Industry experts predict 2023's top trends, and the buyers and sellers to watch.
  + stars: | 2022-12-19 | by ( Marta Biino | Sydney Bradley | ) www.businessinsider.com   time to read: +12 min
"As a result, institutional acquirers, like PE firms who still have dry powder to spend, will start snatching up mid-to-large sized creator startups at much more advantageous prices." "They're going to see that the creator economy exists as a direct failure of them to support creators," Gestetner said. "But if an opportunity arises for us to significantly enhance our capabilities to make us a better business powering the creator economy, we'll consider it." Startups can expect consolidation in saturated marketsThe crowded niches within the creator economy startup sphere could also face a wave of consolidation. In the creator economy, companies bet on the fact that YouTube advertising revenue on the videos will increase as the audiences of creators grow and they gain more views.
☆ Shoppers' returns are spiking to unprecedented levels — driving a $280 billion problem that's starting to backfire against them
  + stars: | 2022-12-07 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +5 min
Inflation and a phenomenon called 'bracketing' are driving returns, Insider Intelligence says. Returns add another layer of cost and complexity for retailers, Insider Intelligence analyst Zak Stambor wrote in the report. Depending on the way they handle returns, retailers could be on the hook for packaging, shipping, and labor costs, he wrote. Zara is among the stores that have started charging shoppers if they return items by mail. Amazon, for example, allows customers to return items purchased on its website at Whole Foods grocery stores, which the company owns.
☆ These 12 behind-the-scenes execs are innovating TikTok's surging ad business, which will soon be worth more than Snap's and Twitter's combined
  + stars: | 2022-10-13 | by ( Lindsay Rittenhouse | ) www.businessinsider.com   time to read: +11 min
TikTok's ad revenue is expected to triple to $11.64 billion this year, and it's building out products aggressively to hit its goal. In fact, if TikTok's ad revenues triple to $11.64 billion this year from 2021, as Insider Intelligence predicts, it will surpass the combined ad revenues of Twitter and Snapchat combined. Gabriela Comazzetto, head of LATAM global business solutionsComazzetto, another Facebook poach, has been overseeing TikTok's ad business in one of its fastest growing regions for just over a year. Shant Oknayan, general manager of METAP global business solutionsOknayan manages the TikTok for Business platform for the METAP region. Sameer Singh, general manager of APAC global business solutionsSingh oversees the TikTok for Business platform across APAC.
☆ TikTok just launched a major offensive to grab advertiser dollars — and these are the top 12 execs who are making the app a major competitor to YouTube and Meta
  + stars: | 2022-04-15 | by ( Lindsay Rittenhouse | ) www.businessinsider.com   time to read: +11 min
TikTok's ad revenue is expected to triple to $11.64 billion this year, and it's been hiring aggressively to meet that goal. Chandlee spent 12 years at Facebook, where he managed global agency partnerships and client relationships, before joining TikTok in 2019. Monga came from Snap, where she led global agency partnerships and was involved in key presentations and pitches. Shant Oknayan, general manager of METAP global business solutionsOknayan manages the TikTok for Business platform for the METAP region. Sameer Singh, general manager of APAC global business solutionsSingh oversees the TikTok for Business platform across APAC.
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