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☆ Livestream shopping booms as small businesses strike gold on social media
  + stars: | 2023-06-09 | by ( Andrea Day Chris Dilella | Andrea Day | Chris Dilella | ) www.cnbc.com   time to read: +5 min
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
☆ Dollar General stock plunges as 'challenging' economic backdrop drives dismal earnings report
  + stars: | 2023-06-01 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +2 min
Dollar General's core customers are reining in their spending amid a worse-than-expected macroeconomic backdrop, leading the discounter to slash its full-year outlook after a dismal earnings report Thursday. Shares of Dollar General plunged nearly 20% in morning trading after the retailer missed estimates on the top and bottom lines. It now expects net sales to rise between 3.5% and 5%, compared with a previous range of 5.5% to 6% growth. It anticipates same-store sales will increase about 1% to 2%, compared with a previous range of 3% to 3.5%. Analysts had been expecting earnings per share to be up 4.3%, according to Street Account.
Persons: Jeff Owen Organizations: Refinitiv, Research
☆ Dollar General shareholders pass proposal to improve worker safety
  + stars: | 2023-05-31 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +4 min
Dollar General shareholders passed a resolution Wednesday to create an independent audit into worker safety, as the retailer faces mounting pressure to improve conditions. Dollar General's board recommended shareholders vote against the measure. "I'm one of the hundreds of thousands of Dollar General employees that come into work every day scared for our safety. Williams pointed to the financial implications of Dollar General's safety issues. Beyond fire hazards and dangerous levels of clutter, Dollar General has become a hot spot for gun violence.
Persons: stocker David Williams, Williams, Debbie Berkowitz Organizations: Domini Impact, Research, federal, Safety, Health Administration, Dollar, OSHA, Violence Locations: Mexico, America, Goodlettsville , Tennessee
☆ The Companies Trying to Make Live Shopping a Thing in the U.S.
  + stars: | 2023-05-10 | by ( Jordyn Holman | Kalley Huang | ) www.nytimes.com   time to read: +2 min
But American consumers have yet to take to live shopping in the same way. In 2016, the e-commerce giant Alibaba launched Taobao Live, popularizing live shopping in China. Alongside Poshmark, QVC’s parent company Qurate recently started Sune, a live shopping app targeting Gen Z. Last year, Walmart, YouTube and eBay added or expanded their live shopping features. “In a very few short months, they’re proving that this form of live shopping works,” he added, referring to Posh Shows sellers like Ms. Lazovic.
☆ I shopped at a Dollar General food 'market' for the first time. I wouldn't go back unless it was my only choice.
  + stars: | 2023-05-10 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +2 min
But one area where it's made a lot of progress, executives say, is in fresh food. Dollar General has spent years opening DG Markets, stores it says have enhanced selections of foods like bananas, cheese, and milk. Dollar General has also added some of those products to its regular dollar stores. Besides DG Fresh stores, Dollar General has an initiative of the same name to expand its distribution capacity for fresh food. To find out whether I could actually do my grocery shopping at a dollar store, I visited a DG Market.
☆ Bed Bath & Beyond store closures will kick off a land grab for fast-growing retailers
  + stars: | 2023-04-28 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com   time to read: +3 min
In strip malls across the country, Bed Bath & Beyond stores have "Closing Soon" signs. Its shuttered stores will kick off a land grab for retailers hungry for additional space. Bed Bath will join a list of other bankrupt companies, such as Kmart and Sears, that vacated spaces and made way for stores. Former Bed Bath stores could turn into a variety of other retail spaces, said Deborah Weinswig, CEO of Coresight Research, a retail advisory group. Weaker retailers' locations thinned out during the fallout of the Great Recession and again during the Covid pandemic, said James Bohnaker, senior economist with Cushman & Wakefield.
☆ Artificial intelligence is a $38 billion revenue opportunity for retailers. Here's how to play the trend
  + stars: | 2023-04-22 | by ( Michelle Fox | ) www.cnbc.com   time to read: +15 min
Morgan Stanley estimates that in 2022, only 23% of the $4.3 trillion of U.S adjusted retail spending was online. Add in AI, which can drive better shopper experiences or better conversion, it could bump to 9% or possibly 10% CAGR, he said. Eventually, AI can help retailers pitch tailored products to each potential customer based on their prior history. You might see it in the member services experience in having a better opportunity to get customer support," he said. As retailers move ahead in their plans to integrate AI into their business, some will build the capabilities.
☆ Forget luxury goods, US shoppers are now using buy-now-pay-later services to pay for groceries
  + stars: | 2023-03-23 | by ( Mary Hanbury | ) www.businessinsider.com   time to read: +3 min
New data shows that US shoppers are increasingly using buy-now-pay-later services to buy groceries. Historically, these services have been used as a way to cover the cost of non-essential or pricier items – like luxury goods, for example. While the number of online purchases made using BNPL services grew in the last two months, revenue fell by 19% year-over-year — indicating that customers are using these services for cheaper items. A spokesperson for Klarna did not comment on whether it has seen an uptick in its users using BNPL for grocery shopping when contacted by Insider. This includes cutting back on non-essential items, trading down from pricier products to store own brands, shopping at cheaper chains, and now, using BNPL services in different ways.
☆ Bed Bath & Beyond is closing hundreds of stores. But they won’t be empty for long
  + stars: | 2023-03-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +5 min
New York CNN —Bed Bath & Beyond is stripping down its big blue signs, clearing out aisles of linens and closing 400 stores as it tries to stave off bankruptcy. Bed Bath & Beyond (BBBY)’s real estate is a precious, scarce resource for retailers, gyms and anyone else who needs ample space. “A lot of great real estate is going to come available into a market where there’s been no vacancies. “Bed Bath and Beyond sites are interesting to us, and we are exploring available opportunities with our franchisees,” a spokesperson told CNN. He also believes Bed Bath & Beyond may not be able to avoid bankruptcy or liquidation, which would lead to more vacancies.
☆ Dollar General is luring more shoppers with its cheap groceries — but it might be backfiring
  + stars: | 2023-03-16 | by ( Mary Hanbury | Alex Bitter | ) www.businessinsider.com   time to read: +4 min
While more people are shopping for groceries at Dollar General, other categories are suffering. Dollar stores, in general, have been gaining market share in the grocery sector as inflation bites and shoppers look for cheaper alternatives. According to a recent report from Coresight Research, Dollar Tree and Dollar General ranked in the top five retailers from which consumers bought food in 2022. Dollar General shoppers are still employed but are "relying more on savings, credit cards, and, quite frankly, borrowing money from friends," Dollar General CEO Jeff Owen said on Thursday during the company's fourth-quarter earnings call. "While Dollar General has been steadily improving the offer ... there is still more work to do to improve the proposition," he said Thursday.
☆ Nike is facing a PR nightmare as Kyrie Irving, Ja Morant, and now Tom Sachs face scandals – but experts say partnerships with celebs and athletes will never go away
  + stars: | 2023-03-14 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +8 min
Curbed published a blistering story about Tom Sachs, a Nike collaborator, this week. As long as companies have partnered with celebrities, some endorsement deals have run aground, said Coresight Research CEO and founder Deborah Weinswig. Longtime sportswear industry analyst Matt Powell, who recently founded Spurwink River, said endorsement deals are "fraught with peril." "I thought for a while that brands were moving away from real celebrity endorsements," he told Insider. "We're talking about a very, very small percentage of celebrities who get endorsement deals who have that halo effect," Herzog said.
☆ TikToker shows people how to live off Dollar Tree groceries that cost $35 a week as Americans flock to dollar stores for cheaper food
  + stars: | 2023-03-09 | by ( Mary Hanbury | ) www.businessinsider.com   time to read: +5 min
More people are shopping for food at dollar stores as inflation bites and food prices soar. Dollar Tree Dinners, a TikTok page run by Rebecca Chobat, shows shoppers how to cook on a budget. Chobat says it's possible to eat a varied weekly diet using $35 worth of Dollar Tree groceries. According to a recent report from Coresight Research, Dollar Tree, and Dollar General ranked in the top five retailers from which consumers bought food in 2022. Dollar Tree stores have mostly sold non-perishable items in the past.
☆ Consumers are being more prudent with their purchases in 2023, says Coresight's Deborah Weinswig
  + stars: | 2023-02-28 | 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 EmailConsumers are being more prudent with their purchases in 2023, says Coresight's Deborah WeinswigDeborah Weinswig, founder and CEO of Coresight Research and former top-rated retail analyst at Citi, joins 'Power Lunch' to discuss Q4 earnings, investment in retail and off-mall retailers surpassing mall traffic.
☆ Watch CNBC's full interview with Coresight Research's Deborah Weinswig
  + stars: | 2023-02-28 | 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 EmailWatch CNBC's full interview with Coresight Research's Deborah WeinswigDeborah Weinswig, founder and CEO of Coresight Research, a former top-rated retail analyst at Citi, joins 'Power Lunch' to discuss Q4 earnings, investment in retail and off-mall retailers surpassing mall traffic.
☆ 'Stubborn' food inflation leaves U.S. shoppers with slim appetite for other goods
  + stars: | 2023-02-23 | by ( Siddharth Cavale | ) www.reuters.com   time to read: +4 min
Higher prices on food led to soft sales of electronics, toys, home and apparel in the most recent quarter at Walmart. McMillon said he believed inflation on dry groceries and items made for immediate consumption would remain high "for a while". "Food inflation has been the most stubborn of all the categories," Walmart's U.S. CEO John Furner said. Sharp sales declines in categories other than food are forcing retailers like Target (TGT.N) to slash prices on everything from toys to electronics. While groceries comprise 56% of Walmart sales, they make up about 20% of sales at Target, which depends more on home furnishings, apparel and beauty.
☆ How entrepreneurs can use livestream shopping to make thousands of dollars
  + stars: | 2023-02-22 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com   time to read: +16 min
Live shopping in the US is expected to become a $25 billion market in 2023. Livestream shopping has been popular in China for over a decade, where the industry was estimated to be worth $305 billion in 2021, up from $63 billion in 2019, according to Coresight Research. Virgile Ollivier, a cofounder and the CEO of Livescale, told Insider livestream shopping would soon become just as important for brands as social-media marketing. Livestream-shopping platforms pick up where Instagram falls shortApps focused solely on livestream shopping show a disconnect on traditional social-media platforms. Most sellers livestream at least once a week, at the same time so their followers always know when to expect a show.
☆ Temu: The online shopping upstart that's become the most downloaded app in the US
  + stars: | 2023-02-16 | by ( Michelle Toh | ) edition.cnn.com   time to read: +4 min
Hong Kong CNN —A new online shopping platform linked to one of China’s top retailers has quickly become the most downloaded app in the United States, surpassing Amazon and Walmart. Temu, a Boston-based online retailer that shares the same owner as Chinese social commerce giant Pinduoduo, made its Super Bowl debut on Sunday. Climbing the chartsTemu, pronounced “tee-moo,” was launched last year by PDD, its US-listed parent company formerly known as Pinduoduo. “Temu soared to the top of both US app store charts in November, where the app still holds the top position now,” he told CNN, referring to iOS and Android mobile app stores. “Temu aims to continue to experiment in marketing and offerings, which is possible thanks to its resource-rich parent company,” she wrote in a report.
☆ Livestream shopping took China by storm. Now Amazon, TikTok and YouTube are betting the QVC-style pitches will take off in the U.S.
  + stars: | 2023-02-14 | by ( Katie Tarasov | ) www.cnbc.com   time to read: +6 min
Livestream shopping took China by storm over the past three years. In the U.S., TikTok, Amazon, Walmart , Shopify and YouTube are all getting in on the game. On Amazon Live, influencers pitch products live from the intimacy of their own homes. Tiana Young MorrisTiana Young Morris first went viral in 2020 for videos in which she tried on wigs and then reviewed them. Amazon continued its live-shopping investments with the launch of Amazon Live in India in September.
☆ The Costco customer is younger and richer than ever—here's why
  + stars: | 2023-02-09 | by ( Aditi Shrikant | ) www.cnbc.com   time to read: +1 min
On Tiktok, #costcofinds has 2.6 billion views while #samsclubfinds has just 338.7 million views. Costco shoppers, on average, are younger and have higher incomes than those of its primary competitor, Sam's Club, according to an analysis from Coresight. CNBC Make It reached out to both Costco and Sam's Club. Costco representatives said the warehouse club has no comment. Sam's Club has yet to respond.
☆ Fanatics to start livestreamed shopping of trading cards, collectibles
  + stars: | 2023-02-02 | by ( Ian Thomas | ) www.cnbc.com   time to read: +7 min
The Washington Post | Getty ImagesFanatics is moving into livestreamed shopping around collectibles and trading cards, hiring a former Snap and Alphabet executive to launch its new business later this year. Fanatics Live, which will have a standalone app and a coinciding website, plans to launch in the second half of 2023. Only 31% of U.S. adults have even heard of live shopping, with just 22% saying they've participated in a live shopping event, according to a December poll by Morning Consult. Ebay, which said it saw trading card sales increase 142% in 2020, acquired trading card marketplace TCGPlayer for $295 million in August. While Fanatics Live could move into other forms of entertainment and collectibles over time, it will solely focus on trading cards initially.
☆ Walmart is positioned to benefit from the fallout from Bed Bath & Beyond, says Deborah Weinswig
  + stars: | 2023-01-27 | 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 EmailWalmart is positioned to benefit from the fallout from Bed Bath & Beyond, says Deborah WeinswigDeborah Weinswig, the founder and CEO of Coresight Research, joins 'Power Lunch' to discuss China's reopening boosting retail, housing market performance as an indicator for retail, and more.
☆ Levi Strauss gives upbeat 2023 sales outlook as demand holds up
  + stars: | 2023-01-25 | by ( ) www.reuters.com   time to read: +2 min
Jan 25 (Reuters) - Levi Strauss & Co (LEVI.N) forecast annual sales above Wall Street estimates on Wednesday, in a sign that demand for its jeans is holding up better than feared. Shares of the denim maker were up nearly 8% in extended trading after it also topped fourth-quarter sales and profit estimates. However, Levi's said it saw more consumers shopping at its stores in the Americas and Asia, boosting its direct-to-consumer business. Levi's fourth-quarter net revenue of $1.59 billion edged past estimates of $1.57 billion, while adjusted profit of 34 cents per share topped expectations of 29 cents. Reporting by Deborah Sophia in Bengaluru and Kate Masters in New York; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
☆ A Dollar General clerk is charged with manslaughter after police say he shot and killed an armed robber. The clerk said it was the 6th attempted armed robbery at the store since August.
  + stars: | 2023-01-04 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +2 min
A Dollar General employee is facing charges following an armed robbery that left the suspect dead. According to the police report, Rafus Anderson was working at the Dollar General in downtown Monroe on Monday when an armed suspect robbed the store. Dollar General did not immediately respond to Insider's request for comment. Discount retailers like Dollar General, Family Dollar, and Dollar Tree are opening more new stores than any other retail category in the US as Americans change their spending habits. Dollar General led the pack by a wide margin with more than 1,000 new stores, according to data from Coresight Research.
☆ Dollar General, Family Dollar, and Dollar Tree are taking over the US with more new stores than any other retailer — and it reveals a shift in how Americans are shopping
  + stars: | 2023-01-03 | by ( Ben Tobin | ) www.businessinsider.com   time to read: +2 min
Dollar General announced more than 1,000 store openings in 2022, per company Coresight Research. Other companies that opened many stores in 2022 include Aldi, Ross Dress For Less, and Five Below. And discount stores have reaped the benefits: Dollar General's stock soared to an all-time high in November 2022, for example. With so many people looking to save money, discount stores led the pack for retailers in opening new locations next year. Dollar General — 1,024 storesDollar General.
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