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☆ Lowe's average customer is a white baby boomer who spent $809 there last year
▼ + stars: | 2024-02-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The store's typical customer is a more rural baby boomer who earns $60K a year and owns her home. But which of those millions of shoppers is the "typical" Lowe's shopper? In addition to taking on Home Depot, Lowe's is looking to win over customers from outdoor lifestyle retailer Tractor Supply Co. with a push into smaller-format rural stores. Lowe's shoppers have dialed back in recent months, but the company said a few are still splurging on its offerings of high-tech, futuristic appliances at price points of $2,500 or more. The typical customer earns between $40,000 and $80,000 a year and now makes nine trips to Lowe's, spending about $90 per trip for an annual total of $809.

Persons: Lowe's, boomer, — Organizations: Service, Tractor Supply, Home Locations: North America, Wilkesboro , North Carolina, Lowe's

☆ Costco's average customer shops there at least twice per month and spends around $100 on each visit
▼ + stars: | 2024-02-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Every day, thousands of shoppers push their ultra-wide shopping carts through Costco's warehouse doors, collectively spending more than $237.7 billion last fiscal year. The wholesale club boasts 129.5 million membership cardholders representing households and small and midsize businesses, but which shoppers are the "typical" Costco shoppers? The retailer also consistently leads the pack when it comes to customer satisfaction, though Walmart and Target are gaining ground. The typical customer visits Costco every two weeks or so — about 30 trips per year — and spends about $100 per trip for a total annual expense of $3,018. Compared with other shoppers, Costco members are more likely to be homeowners who love organic foods and actively manage their health.

Organizations: Costco, Business, Walmart, Target, Star Locations: North America

☆ Some shoppers are spending big money on 'craft ice' fridges and high-tech washing machines, Lowe's exec says
▼ + stars: | 2024-02-27 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

While most shoppers are more budget-conscious, Lowe's execs say some are spending big on appliances. One smart LG fridge that makes "craft ice" is a "top-seller despite retailing for over $2,500," one exec said. This fridge makes really nice ice. Lowe'sIndeed, one model in the LG line that makes the fancy ice has a list price of a whopping $4,299. "They're not afraid to invest in, for example, the GE Profile all-in-one washer-dryer combination that retails for over $2,500," Boltz said.

Persons: —, Lowe's, Marvin Ellison, They're, Bill Boltz, that's, Boltz, Katie Notopoulos, Notopoulos Organizations: LG, Service, Home Depot, GE, Wall Street Journal

☆ The family behind Walmart cashed out $1.5 billion as the stock neared an all-time high last week
▼ + stars: | 2024-02-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The Walton family sold nearly 9 million shares of Walmart stock last week for over $1.5 billion. The sale brings the family's total proceeds to nearly $2.3 billion in the span of three months. Monday's three-to-one stock split means the Waltons now hold about 3.75 billion shares. AdvertisementThe Walton family's cash accounts are a whopping $1.5 billion bigger after they sold nearly 9 million shares of Walmart stock last week, according to SEC filings. The latest sales bring the Walton family's total proceeds to nearly $2.3 billion from Walmart shares in the span of three months, the disclosures show.

Persons: Walton, —, Sam Walton Organizations: Walmart, Service, SEC, Walton, Business

☆ Walmart's average customer is a suburban baby boomer who spent $3,578 there last year
▼ + stars: | 2024-02-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

4,600 locations in the US The company also has among the highest customer loyalty for leading retail brands. Walmart's average customer is a white baby boomer who owns her home and earns less than $80K per year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Because of the retail giant's scale, the average Walmart customer has a lot in common with the average US shopper, according to data from the consumer analytics firm Numerator. Roughly 95% of the shoppers in Numerator's survey visited Walmart two or more times in the past year.

Persons: —, John David Rainey Organizations: Walmart, Service

☆ Home Depot's average customer is a white baby boomer who spent $856 there last year
▼ + stars: | 2024-02-21 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Two thirds of US consumers shop at Home Depot, and the brand has similar customer loyalty as Lowe's. The store's typical customer is a white baby boomer who earns over $80K a year and owns her home. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Numerator found that Home Depot's typical shopper is a white woman over 60 years old who owns her home in the suburbs. The typical customer now makes 10 trips to Home Depot and spends about $85 per trip for an annual spend of $856, whereas, in last year's report, they spent $1,052 across 12 trips the year before.

Persons: boomer, —, Lowe's Organizations: Service, Depot, Home Depot Locations: North America, Atlanta

☆ Sam's Club CEO wants to use AI-powered cart scanners to ring you up automatically
▼ + stars: | 2024-02-20 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

The high-tech system uses computer vision to recognize the contents of Sam’s Club members shopping carts to confirm their purchases as they exit the warehouse — dispensing with the need for physical receipt checks. Currently installed in 10 stores, the big blue gateways are already a hit with customers, Sam’s Club CEO Chris Nicholas said on Walmart’s fourth-quarter earnings call Tuesday. Sam’s Club is a Walmart-owned company. AdvertisementSam's Club uses computer vision and AI to confirm purchases in shoppers' carts in real-time. Sam's Club US's chief merchant, Megan Crozier, even threw some shade at the small-format tech during the company’s presentation at the Consumer Electronics Show in Las Vegas.

Persons: —, Chris Nicholas, Megan Crozier, Doug McMillon, ”, Sam's Club's Nichols, Nicholas Organizations: Service, Sam's, Sam’s Club, Business, Sam’s, Walmart, US's, Consumer Locations: Las Vegas

☆ Target fired me after I let a worker buy a Stanley cup. The emotional and financial toll have been severe.
▼ + stars: | 2024-02-20 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Target fired me after I allowed one of my baristas to buy a Stanley x Starbucks cupI never even bought a Stanley cup for myself — I hate the cups if we're being honest. Getting fired emotionally destroyed me because I'd spent the past eight months putting all of my time and energy basically rebuilding the store’s entire Starbucks team. I would go on Indeed.com and apply for every single job that I qualify for — and jobs I was overqualified for. Now I'm going to look at every single job as a means to an end. I'm going to make sure I read every single page of that employee handbook, and if there's something I don't understand, I'm going to get clarification on it.

Persons: Nikcole Smith, I'd, I’ve, Burger King, I’d, I've, I'm, they've Organizations: Starbucks, Target, Stanley, Business, Medicaid, Walgreens Locations: Baltimore , Maryland, Indeed.com, Burger

☆ Walmart shrunk by at least 101 locations last year — a smart move for what's next
▼ + stars: | 2024-02-18 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Walmart quietly reduced its store count in 2023 even though the company was doing really well. In addition to closing underperforming stores, the retailer sold at least 79 small-format locations. Given what Walmart has planned for the next few years, the move away from smaller locations makes sense. "Walmart has always struggled with smaller stores," Saunders said. In addition to new stores, many existing locations are being upgraded to Walmart's "store of the future" concept, including 650 projects this year.

Persons: —, spokespeople, Doug McMillon, Scot Ciccarelli, Ciccarelli, Neil Saunders, Saunders, it's, Walmart's Organizations: Walmart, Service, BI, Goods, Truist Securities

☆ Tucker Carlson gets roasted for praising decades-old shopping cart tech in Russia
▼ + stars: | 2024-02-16 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Read previewFormer Fox News personality Tucker Carlson is posting videos of himself experiencing various aspects of daily life in Moscow — and a moment involving Russian shopping carts has led to him being roasted on social media. AdvertisementTucker is excited that the Russians have figured out a way to keep homeless people from taking shopping carts. Although the shopping cart locks in Carlson’s video are far more widespread in Europe, they’re also a common sight at German-owned Aldi’s US stores. AdvertisementAn Aldi shopping cart in New York City. The shopping cart at the grocery store I go to allows me to scan items as I put them in the cart while shopping," X user EgilsRobs wrote.

Persons: —, Tucker Carlson, Vladimir Putin, Carlson, “, ” Carlson, Tucker, R5pJSDEDsf, Ron Filipkowski, “ He’s, @Brandon_Newton1, they’re, Talia Lakritz, George Herbert Walker Bush, EgilsRobs Organizations: Service, Fox News, Business, Critics, Aldi, Walmart, Costco Locations: Moscow —, Europe, New York City, Russian, American, Canada, Australia, Russia, America, Moscow

☆ Target is limiting self-checkout hours in some stores as the retailer continues to battle missing inventory
▼ + stars: | 2024-02-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTarget’s self-checkout reckoning continues as the retailer is cutting the hours of operation for self-service lanes at some of its stores. The move does not yet include all of the company’s nearly 2,000 locations, but employees told Business Insider that store staffing levels and sales volumes are key factors in the decision. In particular, Target is aiming to keep the percentage of overall store sales through self-checkout below a certain threshold, the workers said. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business, Target, BI, Workers, Walmart, Kroger Locations: Illinois, Oklahoma, Michigan

☆ Temu's Super Bowl ad reveals we've been saying its name wrong
▼ + stars: | 2024-02-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The ultra-discount retailer Temu bought an eye-popping three $7 million Super Bowl ad spots. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Though not quite a rebranding, this pronunciation is new for the two-year-old e-commerce site, which aired its first (single) Super Bowl commercial last year. In that ad, Temu is clearly (and predictably) pronounced "tee-moo." Those results make the estimated $21 million look like money well spent for Temu's parent company, PDD Holdings.

Persons: —, PDD Organizations: Temu, Service, Super, PDD Holdings, JPMorgan Locations: Temu, China

☆ Target workers fired over Stanley cups say the crackdown leaves some of the stores' Starbucks cafés understaffed
▼ + stars: | 2024-02-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +8 min

Read previewTarget's swift and severe crackdown on workers who bought one of the trendy Stanley x Starbucks cups last month could lead to another headache — keeping its Starbucks cafés staffed up. Of the 11 recently fired Target employees who have discussed their situations in detail with Business Insider, six worked in their stores' Starbucks cafés, which operate under a license agreement with the coffee company. STLs also told BI that stores are shuffling workers between stores, as they have in the past, to help with coverage. "You have so much paperwork, you have to do so much training, you have to do everything a normal Target Team Lead does, plus all your Starbucks stuff." Barista Jessie Gage told BI she and five coworkers were fired, cutting her store's Starbucks team by half.

Persons: —, STLs, Nickole Smith, weren't, Barista Jessie Gage, aren't, Christina Tavares, Dominick Reuter, Smith, It's Organizations: Service, Stanley, Starbucks, Business, BI, Target, Member Locations: Target's, Starbucks cafés

☆ Walmart and Target are gaining ground on Costco in customer satisfaction
▼ + stars: | 2024-02-08 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The American Customer Satisfaction Index results are in and Costco is king for yet another year. The wholesale club earned the highest score among general merchandise retailers — again. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Washington-based wholesale club topped the rankings for at least the seventh year in the annual American Customer Satisfaction Index study of general merchandise retailers. But even though Costco remains king in 2024 with a repeat score of 82, its two largest big-box competitors are gaining ground.

Persons: — Organizations: Costco, Walmart, Target, Service, Business Locations: The Washington

☆ Walmart wants employees to own more of the company
▼ + stars: | 2024-02-05 | by ( Ana Altchek | Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Walmart made two moves last week that will make it easier for employees to own company shares. Managers will receive annual stock grants of up to $20,000 and the company announced a 3:1 stock split. Walmart CEO said these moves make it more accessible for store associates to purchase shares. AdvertisementWalmart is trying to get back to one of its roots with recent moves that make it easier for employees to own shares in the company. The company said last Monday it will award store managers annual stock grants of up to $20,000.

Persons: — Organizations: Walmart, Service, Business

☆ Stanley Tumblers Contain Lead. Owala, Hydro Flask Pounce.
▼ + stars: | 2024-02-03 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Read previewThe news that Stanley's insulated stainless steel cups contain lead sparked a frenzy of concern on social media about the potential health risks for consumers. Stanley acknowledged in a statement that it uses "an industry standard pellet" that contains "some lead" to seal the vacuum insulation of its tumblers. We want to assure you that Hydro Flask does not use lead in our vacuum sealing process," HydroFlask said in a post on Threads earlier this week. Marketing experts told Business Insider this is a smart strategic move for companies seeking to differentiate themselves from Stanley and win over customers. And lead is still bad for manufacturing workers and the environment — it's just not a significant health risk for Stanley customers.

Persons: —, Stanley, hasn't, Jack Caravanos, HydroFlask, Anita Rao, Rao, Bruce Clark, They're, isn't, nibble Organizations: Service, Business, New York, Washington Post, Hydro, Georgetown University, Northeastern University, NBC Locations: New York University, Oregon

☆ Get ready for a lot more Walmarts
▼ + stars: | 2024-01-31 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Walmart, the largest retailer in the world, is about to get even bigger in the US. It will also upgrade 650 locations this year to its "store of the future" concept. AdvertisementThe world's largest retailer is growing again in the US. In addition, the company will upgrade 650 locations this year to its "store of the future" concept revealed last fall. Walmart's first two new locations will be Neighborhood Markets in Santa Rosa Beach, Florida, and Atlanta, Georgia, opening this Spring.

Persons: —, Walmart's Organizations: Walmart, Service, US, Business Locations: Santa Rosa Beach , Florida, Atlanta , Georgia

☆ Read Target's 15-minute rule that workers say led to a rash of firings over Stanley cups
▼ + stars: | 2024-01-31 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Read previewTarget's sudden firings of workers over their purchase of Stanley cups has raised the profile of an often-mentioned — but often poorly understood — policy known colloquially as the 15-minute rule. While some Target workers know of the rule, others told Business Insider that they were either completely unaware of it or simply unsure of how to avoid violating it. In general, Target workers say the 15-minute rule is usually communicated verbally, if at all, and only occasionally presented in written form. Target has not responded to multiple requests for comment on the firings and its employee purchase policy. Prior to this January, instances of the company electing the most severe option were comparatively rare, but not unprecedented, Target workers told BI."

Persons: —, Stanley, I've, I'd, HDM Organizations: Service, Business, BI, Guest Service

☆ Target workers say a '15-minute' violation caused them to be fired for buying Stanley cups
▼ + stars: | 2024-01-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Target has fired dozens of workers for apparent violations of an employee purchasing rule. AdvertisementSeveral Target workers mentioned the 15-minute interval in conversations with BI, and the rule is periodically discussed in the r/Target subreddit when situations like this one arise, including with PS5 consoles. AdvertisementMartell said Target typically took pains to avoid firing workers. Advertisement"I think it's silly to kind of crucify someone and put them out on the street because they didn't know of a policy," Logan said. If you or someone you work with was fired from Target after purchasing a Stanley cup, please contact Dominick Reuter via email or text/call/Signal at 646-768-4750.

Persons: Stanley, it's, —, Troy Logan, Logan, Akylah Martell, Martell, Dominick Reuter Organizations: Workers, Service, Target, BI, Stanley, Business Locations: Texas, Montana

☆ Walmart store managers will receive up to $20,000 per year in company stock
▼ + stars: | 2024-01-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Walmart store managers are set to receive annual stock grants ranging from $10,000 to $20,000. AdvertisementIt's a good year to be a store manager at Walmart. Fresh off the announcement earlier this month of substantial pay and bonus increases, the company said Monday that it is adding annual stock grants of up to $20,000 to the store managers' compensation packages. AdvertisementThe amount of the grant will depend on the size of the store, with $10,000 for Hometown store managers, $15,000 for Neighborhood Market or Division 1 store managers, and $20,000 for Supercenter managers. Roughly three-quarters of Walmart store managers started off in hourly roles, and the company does not require a college degree to be considered for the job.

Persons: —, John Furner, Furner Organizations: Walmart, Service, Walmart's, LinkedIn, Hometown, Neighborhood Market Locations: Houston , Texas

☆ Seven Target workers fired after buying Stanley cups say they were caught off guard by the crackdown
▼ + stars: | 2024-01-25 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Carter is one of many workers across the US that Target has fired this month after they purchased special-edition Stanley Quencher mugs. But workers BI spoke to said that they were either unaware of the rule's existence or that they did not realize they violated the rule when they purchased one of the cups. AdvertisementIn two cases, workers told BI they bought a cup that was improperly set aside by a colleague. AdvertisementIn addition, each worker told BI they were one of several employees at their stores who had been fired over the cups. None of the seven employees BI spoke to said they expected this product could end up costing them their jobs.

Persons: —, Catherine Carter, she'd, Carter, Stanley Quencher, hadn't Organizations: Service, Business, Target, Starbucks, BI Locations: Miami , Florida, Maryland

☆ 7 Target workers fired after buying Stanley cups say they were caught off guard by the crackdown
▼ + stars: | 2024-01-25 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

On January 3, she stopped by her store's Starbucks café while on break, where a barista asked her whether she wanted to buy one of the exclusive Starbucks x Stanley cups, she said. Carter is one of many workers across the US that Target has fired this month after they purchased special-edition Stanley Quencher cups. AdvertisementIn two cases, workers told BI they bought a cup that was improperly set aside by a colleague. AdvertisementIn addition, each worker told BI they were one of several employees at their stores who had been fired over the cups. None of the seven employees BI spoke to said they expected this product could end up costing them their jobs.

Persons: —, Catherine Carter, Carter, Stanley Quencher, hadn't Organizations: Service, Business, Target, Starbucks, BI Locations: Miami, Maryland

☆ Some Target workers have gotten fired after purchasing one of Stanley's wildly popular Starbucks cups
▼ + stars: | 2024-01-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

A limited-release insulated cup from Stanley and Starbucks caused havoc at Target stores recently. Comments on social media indicate multiple employees have fired over their purchase of the cups. Target worker Araceli Bernal told Business Insider she and several coworkers were fired after purchasing cups, apparently in violation of company policy. "Welp I got fired from Target for buying the Stanley cup while working," @PrincessSunay posted on X. Advertisement"I just found out my favorite Target employee got fired over the stupid Starbucks Stanley cups so I hope you f—ers are happy," @kirks_minivan posted on X.

Persons: —, Araceli Bernal, Bernal, Stanley, @PrincessSunay, @kirks_minivan Organizations: Stanley, Target, Service, Business Insider Locations: Delaware, stashing

☆ A viral video appears to show Walmart Spark shoppers with perishable groceries waiting for a ride in the Arizona sun
▼ + stars: | 2024-01-19 | by ( Alex Bitter | Dominick Reuter | ) www.businessinsider.com time to read: +6 min

A viral video appears to show Walmart Spark workers leaving perishable groceries in the sun. Some Spark drivers appear to be using fraudulent identities, as Business Insider previously reported. Additionally, many Spark drivers appear to be using accounts with names other than their own. Walmart previously told BI that selling, renting, or borrowing accounts goes against its policies for Spark workers. Do you work for Walmart Spark and have a story idea to share?

Persons: —, Aaron, YouTube Aaron, Aaron said, wasn't, they've, he'd, dreuter@businessinsider.com Organizations: Walmart, YouTube, Arizona Walmart, Business, Service, Spark ., Spark Locations: Arizona, Chandler , Arizona

☆ Walmart is boosting store managers' average pay to $128,000 — and offering a bigger bonus
▼ + stars: | 2024-01-18 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Read previewWalmart store managers are set to see a significant bump in pay next month. The retail giant announced Thursday it will increase salaries for US store managers, bringing the average from $117,000 to $128,000 a year, and offer a bonus of up to 200% base pay. This story is available exclusively to Business Insider subscribers. Walmart told Business Insider the changes will take effect on February 1. Store managers at the lowest end of the salary range are set to see the largest increases, jumping from $65,000 to $90,000, while the top end will remain at $170,000, the company told BI.

Persons: —, Cedric Clark, Clark, Doug McMillon Organizations: Service, Business, Walmart, Teamsters

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