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If shoppers already go to Amazon's stores or other places with an Amazon locker, it's quite convenient, said Jeremy Bartlow, a partner and consumer expert at PA Consulting. There's another reason why Amazon would love for you to pick up your Prime Day deals instead of delivering them to your front door: their bottom line. AdvertisementEarlier this year, Amazon offered a discount at Amazon Fresh grocery stores if patrons used one of the supermarkets to return something they bought on Amazon.com, for example. Whole Foods and Fresh Prime customers can also get their groceries selected from the selves and pre-packed for pick-up for free. Do you work for Amazon, Whole Foods, or Amazon Fresh and have a story idea?
Persons: , Amazon, Prime's, Jeremy Bartlow, Bartlow, you've Organizations: Service, Business, Foods, Amazon, U.S, PA Consulting, SEC, U.S . Postal Service, Amazon Fresh, Fresh Locations: U.S
Walmart is America's grocery king, selling more food than the next two largest companies combinedThe retailer is leaning heavily into AI to get perishable foods to store shelves even faster. Take a look inside one of Walmart's state-of-the-art distribution centers for perishable goods. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementWalmart is the biggest grocery store in the US, with more shoppers getting their groceries there than from any other retailer. On Wednesday, Walmart pulled back the curtain on one of its state-of-the-art AI-powered refrigerated warehouses designed to handle perishable goods like meat, dairy, and produce.
Persons: Organizations: Walmart, Service, Business
The membership-based warehouse club said Wednesday that it will increase its membership fee by $5 in the U.S. and Canada as of Sept. 1. Costco said the fee increases would affect about 52 million memberships, a little over half of which are executive memberships. Costco relies on membership fees to drive most of its revenue and help keep merchandise prices low. Its rival, Walmart- owned Sam's Club, hiked its own membership fee in 2022 for the first time in nine years. At BJ's Wholesale, annual membership fees are $55 and $110, for club members and its own higher tier, respectively.
Persons: Craig Jelinek, Richard Galanti Organizations: Costco, CNBC, Walmart, Sam's Club, Wholesale, Netflix Locations: U.S, Canada
A "good" price for something today may have seemed outlandish five years ago. A "good" price for something today may have seemed outlandish five years ago, and it's understandable to wonder whether today's price is just as fleeting. The whole idea of what's a good price for a 12-pack of carbonated soft drinks has changed dramatically over the past few years." Plenty of companies can move their prices, whether by using dynamic prices or downright raising prices, because they're the only game in town. The answer to getting accustomed to high prices is basically to forget what those numbers were in 2019.
Persons: Wendy's, they're, There's, Carly Fink, , Fink, they'd, Jon Hauptman, Hauptman, Timothy Webb, University of Delaware who's, it's, Ravi Dhar, Taylor Swift, John Zhang, Webb, Dhar, Emily Stewart Organizations: Walmart, Price, University of Delaware, Center, Yale School of Management, Starbucks, Wharton, Business
CNN —Target will stop accepting personal checks from customers starting July 15, the latest retailer to stop taking the increasingly rare form of payment and to try to make checkout less cumbersome for shoppers. “It’s hardly surprising Target has decided to stop accepting them,” said Neil Saunders, retail analyst at GlobalData. Around 61% of Americans are still writing checks, according to a 2024 report by Abrigo, a financial software solutions company. It also found that younger consumers, including Gen Z and Millennials, self reported writing more checks than older consumers from Gen X. The decision to stop accepting personal checks comes as the latest move in a series of changes to the retailer’s checkout experience.
Persons: “ It’s, , Neil Saunders, Abrigo, Gen Organizations: CNN, GlobalData, Apple, Target
However, central bank officials still want to see more progress before cutting interest rates, he noted. “The most recent inflation readings, however, have shown some modest further progress, and more good data would strengthen our confidence that inflation is moving sustainably toward 2%,” he added. Fed officials expect to cut interest rates just once this year, according to their latest economic projections in June, compared to the three cuts they forecast in March. The annual PCE inflation rate registered at 2.6% in June, down slightly from 2.7% in May. Fed officials and most economists don’t see a recession this year.
Persons: Jerome Powell, ” Powell, Powell, Inflation, John Williams, ” Seema Shah Organizations: Washington CNN, Inflation, Committee, Financial, ” New York Fed, Congress, Fed, Asset Management Locations: India, United States
I've worked as a sales associate at Coach for two years, and I've seen customers make mistakes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementI've worked as a Coach sales associate for two years, so I've learned a lot about designer bags . Here are the five mistakes I often see shoppers make when buying designer bags and how you can avoid them. This story is available exclusively to Business Insider subscribers.
Persons: I've, , you'll Organizations: Service, Business
Under the long-standing law, companies can face ruinous penalties for price discrimination only if they're discriminating against other businesses. Tyler Le/BII say low-grade shock because at the time personalized pricing discrimination was far less widespread and harmful than it is today. And many of those that don't disclose using personalized pricing still do it. AI pricing also means that those who are the most desperate and most vulnerable will often pay the most. So much of AI pricing acts as a regressive tax, charging those with the most the least.
Persons: I'm, I'd, Robinson, Tyler Le, Price, Uber, might've, it's, you've, Tinder, Nikolas Guggenberger, Guggenberger Organizations: American Prospect, Walmart, Smart, Mozilla, Consumers International, University of Houston Law Center, Zephyr Locations: London, United States
“My cart looks ridiculous,” said Ms. Uhuru, 48, who supplements her hauls with vegetables grown in her garden. “People think I am a shift shopper.” Sylvia Jarrus for The New York Times, including previous image. Sawyer’s April Shopping Total shopping trips: 14 Impulse purchases: Castelvetrano olives ($5.99) and sparkling water (prices vary) Share of drinkable purchases: 70 percent What might a stranger notice if she peered into Sawyer Bonsib’s cart? “The old adage ‘Don’t go grocery shopping when you are hungry,’ applies triply during Ramadan,” he said. “Or my toddler will gnaw on a tortilla while I’m making dinner.” Jessica Attie for The New York Times, including previous image.
Persons: , creamer, Jackie Kesterson, haven’t, , , Kesterson, Rebecca Gratz, Kimberly Uhuru Detroit, Kimberly Uhuru, Uhuru, ” Sylvia Jarrus, Sawyer, Mr, Bonsib, Alcoholics Anonymous, isn’t, ” Will Newton, pita —, Pecorino Romano, pistachios, Ayse Gilbert, Gilbert, She’s, ” Kerry Tasker, Sonal Singh, Singh, Carolyn Fong, Bingahlan, Abdul Bingahlan, chiles, We’re, Bingahalan, , Brittainy Newman, Amy O’Neill Houck, ” — Mindy Huskins, — Naeman Mahmood, ” — Martha Goff, Gabby Cavazos Austin, Gabby Cavazos, Cavazos, ” Jessica Attie, Young, Alan Young, . Young, Croix seltzer Organizations: THE, Amazon Grocery, Vee, The New York Times, Walmart, Alcoholics, Costco, Gilbert Anchorage, University of Georgia, Mart, chiles, Atlanta, Emory, Coordinating, Foods, Assistance, SNAP Locations: United States, romaine, Jackie Kesterson Omaha, Rosedale Park, Target, Croix, Waterloo, Malvern, Ark, Gilbert, Alaska, Anchorage, Carmel , Calif, California, Sonal Singh Foster City, Calif, India, Foster City, Bingahlan New York City, Cordova , Alaska, Newark, Del, Atlanta, Sacramento, Gabby Cavazos Austin , Texas, Texas, Young Hilo, Hawaii
On the first sweltering Sunday of the summer, East 14th Street erupted. An aborted drug deal turned into a brawl with a glass lamp used as a weapon. An assailant in a homemade superhero cape pulled out a knife and started slashing. To the Trader Joe’s shoppers who dropped their groceries and fled in horror, the violence that unfolded along a busy commercial strip in the East Village on June 23 was as surreal and random as it was terrifying. But East 14th Street also embodies New York City’s struggles with a web of interconnected ills that have defied attempts to rein them in and have flared since the pandemic in parts of Manhattan: homelessness and mental illness, addiction and rampant shoplifting and seesaw battles for control of public space.
Persons: City’s Locations: New, Manhattan
Now Etsy CEO Josh Silverman wants the company, whose stated mission is to "keep commerce human," to get back to its roots. The company on Tuesday is launching a major overhaul of the policies that govern its site to make it "crystal clear" to shoppers what products belong on Etsy, Silverman said in an interview with CNBC. The changes include new labels on its website and app to show how each seller created a particular item. "We're positioning ourselves to answer the call for original goods and real people by dialing up the things that make Etsy, Etsy," Silverman said. In December, Etsy laid off 11% of its workforce, with Silverman citing the "very challenging macro and competitive environment" as reasons for the cuts.
Persons: Etsy, Josh Silverman, Silverman, It's Organizations: CNBC, Amazon, Nasdaq Locations: China
Walmart is offering half off the price of a Walmart+ membership until July 18. That timing gets ahead of Amazon's Prime Day, which happens on July 16 and 17. AdvertisementWalmart's members-only sales event is in the rearview, and Amazon's Prime Day isn't for another week, but that doesn't mean the war between the two biggest retailers is on pause. Until July 18, Walmart is offering Walmart+ memberships for $49 a year, or half off the usual $98 fee. If that date catches your eye, it's because the timing gets ahead of Amazon's Prime Day, which happens on July 16 and 17.
Persons: , isn't Organizations: Walmart, Amazon's, Service, Business
And at some Chipotle locations, customers filmed workers to try to make sure they didn't skimp on their burrito bowls. The three joined a growing list of consumer brands contending with customers' deep frustration over high prices — and wariness that prices will only rise more. Walmart, on the other hand, said the new price tags will cut a tedious task from store workers' to-do lists. They eliminate the need for store workers to swap out traditional paper tags. Shoppers at a Walmart store in Secaucus, New Jersey, US, on Tuesday, March 5, 2024.
Persons: Wendy's, Jean, Pierre Dubé, David Chavern, Donald Trump, Joe Biden, Kevin Lamarque, hasn't, Dianna Campbell, she's, Campbell isn't, Biden, skimping, Sen, Bob Casey, Andrea Foote, Tricia Moriarty, it's, Jim Cramer, CNBC's, Brian Niccol, Chipotle, We've, Wells, Zachary Fadem, Brandon Bell, It's, Kirk Tanner, Yuki Iwamura, Cristina Rodrigues, Gabby Jones Organizations: Walmart, University of Chicago Booth School of Business, Consumers, U.S . Bureau of Labor Statistics, Consumer Brands Association, Procter, Gamble, Pew Research, Pew, Reuters Shrinkflation, Federal Reserve, Customers, Gatorade, PepsiCo, CNBC, Chipotle, New York, Mexican Grill, Getty, American Farm Bureau Federation, Bloomberg, University of Chicago Locations: U.S, Goffstown , New Hampshire, Manhattan, New York City, Mexican, Austin , Texas, Queens, New York, Europe, Secaucus , New Jersey, US
Walmart's new Bettergoods brand is strikingly similar to the Good & Gather line from Target. While I couldn't pick a decisive winner, the real advantage here goes to customers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The latest significant entry into this premium owned-brand space comes from Walmart, which in April announced its Bettergoods line as the company's "largest private brand food launch in 20 years." This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Target, Service, Walmart, Business
Washington CNN —A vast swath of the US economy is showing signs of weakness as unemployment rises to its highest point in more than two years. “When you think of services, a lot of it is driven by the consumer, and consumers are key to where the US economy goes,” James Knightley, chief international economist at ING, told CNN. Consumer spending, which makes up about 70% of the US economy, has already moderated over the past few months, government statistics show, and retailers themselves have said they’ve noticed shoppers across the income spectrum change their purchasing behavior. The bottom 60% of households by income accounted for a larger proportion of spending on health care services. These firms have added 168,000 jobs a month, on average, from April through June, according to fresh Labor Department data released Friday.
Persons: , ” James Knightley, “ We’re, Knightley, Scott Hamilton, Gallagher, It’s, Tesla, China’s Geely, Laura He, Elon, Jerome Powell, Michael Barr, Michelle Bowman, Austan Goolsbee, Raphael Bostic Organizations: CNN Business, Bell, Washington CNN, Institute, Supply, ING, CNN, Commerce, Service, Labor Department, EV, Volvo, SAIC, Elon Musk’s, Business, Committee, Fed, China’s National Bureau of Statistics, Financial Services, Chicago Fed, Pepsico, Delta Air Lines, ConAgra Brands, US Labor Department, Atlanta Fed, JPMorgan Chase, Citigroup, The, New York Mellon, The University of Michigan Locations: Washington, United States, California, Jiangsu, China, Shanghai, Wells Fargo
New York CNN —Saks Fifth Avenue and Neiman Marcus are merging to create a luxury department store empire. “We’re thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman,” said HBC CEO Richard Baker in a release. Saks has 39 stores, while Neiman Marcus, which filed for bankruptcy in 2020, has 36 stores. Neiman Marcus also owns Bergdorf Goodman. Both of them will report to Baker, who becomes the executive chairman of Saks Global.
Persons: New York CNN —, Neiman Marcus, Bergdorf Goodman, “ We’re, , Richard Baker, Marc Metrick, Ian Putnam, Baker, Louis Vuitton, Michael Kors, ” Neil Saunders, , Amazon, Saunders Organizations: New, New York CNN, New York CNN — Saks Fifth, Saks, HBC, Saks Fifth, Saks Global, HBC Properties, Canadian, Brands, Neiman, Capri, GlobalData, Federal Trade Commission, FTC Locations: New York, Hudson’s, Glendale , California, Columbus , Ohio
Gen Z's latest hot club is Costco
  + stars: | 2024-07-05 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
Read previewOne of Gen Z's biggest tools for fighting persistently high food prices: Sharing a big cart of groceries — and potentially a membership card — from Costco or Sam's Club with roommates or family. Costco and Sam's Club might be happy for the new customers, but they're likely less eager about those who share membership cards to make the purchases. Wholesale retailers like Costco and Sam's Club have long appealed to consumers who shop for big families or parties. But some single people say a Costco membership makes sense for them thanks to benefits like savings on gas. Are you a shopper or employee at Costco or Sam's Club with a story idea to share?
Persons: , Z, Devak Nanda, Nanda, abitter@businessinsider.com Organizations: Service, Costco, Sam's, Wall Street, Business, Sam's Club, Walmart, of Illinois, Champaign, Devak Locations: of Illinois Urbana
CNBC Daily Open: UK Labour landslide election victory
  + stars: | 2024-07-05 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. UK Labour wins landslide victoryThe center-left Labour Party has won a landslide victory, ending 14 years of Conservative rule. Samsung shares climbed 2.84%, hitting their highest level since January 2021. Here are Evercore ISI's best stock ideas for the second half.
Persons: Keir Starmer's, Tony Blair's, Rishi Sunak, Brexiteer Nigel Farage, jeopardizing, Korea's Kospi, nonfarm payrolls, Saks, Neiman Marcus, Bergdorf Goodman Organizations: New York Stock Exchange, CNBC, Labour, Labour Party, Conservative, Keir Starmer's Labour, Party, Nikkei, Samsung, Samsung Electronics, CSI, S3 Partners, Saks Fifth, HBC, Saks, ISI Locations: May's
Saks Fifth Avenue parent HBC said on Thursday it will acquire Neiman Marcus Group in a $2.65 billion deal combining the storied retailers. The combination will establish Saks Global, which will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus' namesake department store chain and Bergdorf Goodman. "We're thrilled to take this step in bringing together these iconic luxury names," HBC CEO Richard Baker. "This is an exciting time in luxury retail," Baker added, citing technological advancements that can "redefine" the customer experience. Neiman Marcus Group CEO Geoffroy van Raemdonck called the partnership a "proactive choice in an evolving retail landscape."
Persons: Neiman Marcus, Bergdorf Goodman, We're, Richard Baker, Baker, Marc Metrick, Ian Putnam, Geoffroy van Raemdonck, what's Organizations: Saks Fifth, HBC, Saks Global, Saks, HBC Properties, Investments, Neiman
Although larger grocery stores will offer a bigger variety, it generally won't be as vast as an American supermarket. For instance, urban grocery stores in Germany simply don't have the physical capacity the way many American grocery shops do, allowing American shops to stock numerous brands and types of the same product. You have to bag your own stuffAt most major American grocery stores, your groceries generally get bagged for you as you check out. Most Germans do their grocery shopping at standard and discount grocery stores. Opening times at German grocery stores may seem short in comparison to US storesMany Americans who visit Germany are surprised to find that German grocery stores have more limited opening times than they are used to.
Persons: , you'll Organizations: Service, Business, Omega, Aldi Locations: Germany, United States, American, Bavaria, Bavarian, Frankfurt, Hamburg, Turkish, Berlin, Kafer, Munich
And while few shoppers would save their old grocery receipts, using apps like Instacart keep your order history for years. Now, some customers are using those past orders to discover inflation's highly personal impact on them. AdvertisementIn a video on TikTok, White shared his experience using Instacart's "reorder items" function, explaining how a $35 order skyrocketed to more than $62 in the past five years. (Several commenters suggested this was due to the app replacing some out-of-stock items with more expensive offerings from third-party sellers.) White told BI the response to his video, which has nearly a million views, has been very polarized.
Persons: , White, Manhattan —, It's, Andy Kiersz Organizations: Service, Business, Walmart, Pepsi Locations: Virginia, Los Angeles and New York City, Gelson's, LA, Wegman's, Manhattan
Read previewWhole Foods has long had a reputation as a pricey place to buy groceries. Since Amazon acquired the grocery chain in 2017, it has cut prices several times. The reductions appeared to take aim at Whole Foods' higher-than-average prices — something that had long led critics to refer to the chain as "Whole Paycheck." AdvertisementI then compared the prices I found there with those at a nearby Safeway, a middle-market grocery chain owned by Albertsons. I also used loyalty programs to get discounts at both stores — including Amazon Prime at Whole Foods.
Persons: , John Mackey, Mackey, Jeff Bezos, Jason Buechel Organizations: Service, Amazon, Foods, Business, Safeway, Albertsons, Whole Locations: Fairfax , Virginia, Washington
Costco has gradually been switching the packaging for its rotisserie chicken from trays with lids to plastic bags. "There's just something unappealing about picking up a bagged chicken," a Reddit user wrote. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCostco has been rolling out new the packaging for its coveted $4.99 rotisserie chicken, and some loyal customers aren't impressed with the change. The warehouse chain previously sold the Kirkland Signature chicken on black plastic trays with transparent plastic lids.
Persons: , aren't Organizations: Costco, Service, Kirkland, Costco Connection, Business Locations: Australia
Read previewAmazon Prime Day is approaching, and as usual, the online retailer is offering a slew of specials for customers during the two-day shopping extravaganza. It also wants you to sign up (and pay for) Amazon Prime at $14.99 a month — and possibly a whole host of other Amazon subscriptions. (The Amazon Fire HD 10 tablet is 46% off this Prime Day, down from $139.99 to $74.99.) "We sell a lot of devices during our Prime Day events," CFO Brian Olsavsky said on an earnings call after Prime Day 2022. AdvertisementFor those with a Prime subscription, Prime Day represents "the new Black Friday," Bartlow said.
Persons: , gunning, Jeremy Bartlow, haven't, Bartlow, that's, Amazon's, Brian Olsavsky Organizations: Service, Amazon, Business, Consumer Intelligence Research Partners, PA Consulting, Whole Foods, Amazon Music, Kindle, Amazon's Alexa, Big Tech, Apple, US Department of Justice, Microsoft, Walmart, Target
Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. These shoppers are turning to bridge technologies like hybrids and plug-in hybrids, reviving a segment once thought by some to be a relic of the pre-Tesla automotive industry. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Service, Business
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