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From leggings to lip gloss, there's a dupe for almost any brand-name product. Buying a knockoff used to be a consumer's dirty little secret, largely because a "fake" was considered inferior to the real thing, not to mention the economic cost and intellectual property rights infringement. But brand imitators, also known as dupes — short for duplicates — have elbowed their way into the mainstream and are now even cool. "It's not a direct knockoff, it's kind of revising something that's very chic from a designer world into a more accessible product," Walker said. Even when consumers can get the real thing, nearly 33% of adults intentionally purchased a dupe of a premium product at some point, according to a report by Morning Consult.
Persons: Sara Walker, Walker, Ellyn Briggs Organizations: Finance, Morning Locations: Los Angeles
Despite the gloom about grocery costs, food price increases have generally been cooling for months. A central issue has plagued the Biden administration for most of its term: the steep rise in grocery prices. Despite the gloom about grocery costs, food price increases have generally been cooling for months. Image Several economists said they expected to see grocery inflation remain around current rates in the coming months. Grocery inflation remains a major political issueHigh food costs continue to pose a political challenge for the Biden administration.
Persons: Biden, Donald J, Trump, , David Ortega, Ortega, “ We’re, Mr, Jessica Attie, Omair Sharif, Sharif, Kamala Harris, Christopher B, Barrett, Jerlyn, , Heisz Organizations: Bloomberg, Federal Reserve, Investors, Republican, White, Workers, Michigan State University, The New York Times, Agriculture Department, KPMG, Democratic, PepsiCo, Cornell University Locations: Ukraine, Platteville, Wis
CNN —Despite sweltering August temperatures, more stores are rolling out products in what was once the quintessential fall flavor: pumpkin spice. IHOP will launch its fall-themed lineup on September 1, including pumpkin spice pancakes, pumpkin spice cold foam cold brew and maple pumpkin cheesecake-flavored pancakes. And Krispy Kreme unveiled its fall menu even earlier, announcing the return of the pumpkin spice cake doughnut and pumpkin spice latte beginning August 12. Pumpkin spice has cemented itself as a fall staple, with Americans spending more than $500 million on pumpkin spice products each year, according to data from Nielsen. And with companies from Starbucks to Bath & Body Works consistently rolling out their own line of pumpkin spice products as the days grow shorter, the flavor has become a well-established part of the consumption calendar.
Persons: Krispy Kreme, , Neil Saunders, Saunders Organizations: CNN, Nielsen, Body, Home, Locations: Bath
We found one long-slot toaster represented the best value and the best toasting performance: the Breville "A Bit More" Toaster. Breville 'A Bit More' Long Slot Toaster The Breville “A Bit More” Long Slot Toaster is a modern and thoughtfully designed, high-performance appliance with easy cleanup and user-friendly controls. Check price at Amazon Check price at Crate & Barrel Check price at Williams Sonoma What we like Check mark icon A check mark. AdvertisementCons to considerIf you're in the market for a top-quality slot toaster, it's hard to find any criticisms of the Breville "A Bit More" Toaster. Taylor Tobin/Business InsiderBetween its remarkably even toasting abilities, modern design, and helpful special features, the Breville "A Bit More" Toaster represents the absolute best of the slot toaster field.
Persons: who's, thoughtfully, you'll, Taylor Tobin, There's Organizations: Business, Amazon, Williams
I tried every Trader Joe's precooked sausage I could find to see which was the tastiest. The spicy jalapeño chicken sausage had a great garlic flavor and, in my opinion, was the best. Go to newsletter preferences Thanks for signing up! AdvertisementIf you're looking to explore grilling options beyond burgers and hot dogs, it might be time to visit the precooked sausage section at your local Trader Joe's. Of course, the store's sausage section can be overwhelming because there are so many different kinds and they all look pretty good.
Persons: Organizations: Service, Business
Unlike regular shoppers, delivery workers who pick up orders at stores usually have to shop and deliver their orders on a deadline. Gig delivery workers in most states are paid for each order that they deliver. Spokespeople for Walgreens and CVS previously told BI that the chains started locking up products based on shoplifting trends at specific stores. The shopper told BI that they pressed a button on the shelf to request help from an employee, but no one showed up after several minutes. AdvertisementDo you work for Instacart, DoorDash, Uber Eats, or another gig delivery service and have a story idea to share?
Persons: , Instacart, Uber Organizations: Service, CVS, Walmart, Business, Retailers, Walgreens, Representatives Locations: An Ohio, Ohio, The Ohio, Nevada, Idaho
These regular visits have given me a unique perspective on the store's operations: I've learned valuable tips that many Costco members might not know, which has helped me save hundreds of dollars. During my many trips, I've learned to look at tags for markdowns — especially in the home goods and electronics sections. Related storiesMembers can sign up to get emails about daily updates on discounts, but the monthly sales emails highlight the best deals. In my opinion, the best sales are in the emails with the month in the subject line, as they provide monthly deals. Mondays are often the best day to shop for dealsMost Costco sales end on Sundays, making Mondays the best day to shop for deals.
Persons: , I've, markdowns, Kristen Markel, Kristen Markel I've, I'm Organizations: Service, Costco, Business, Shoppers
Shoppers walk through the Fashion Centre at Pentagon City, a shopping mall in Arlington, Virginia, February 2, 2024. As of early May, the company had 503 Macy's stores, including a small number of other concepts outside of malls. There were 352 shopping malls classified as Class A and B at the end of 2016, according to company reports, S&P Capital IQ and Coresight Research. That decline is sharper among Class C and D shopping malls, which fell from 684 malls in 2016 to 287 in 2022, according to the companies' research. At some distressed malls, Macy's may be the last anchor that remains.
Persons: Justin Sullivan, Macy's, Tony Spring, Chris Wimmer, Saul Loeb, Taylor, Anand Kumar, Kumar, Naveen Jaggi Organizations: Fitch, Shoppers, Fashion Centre, Pentagon, Afp, Getty, JCPenney, Coresight, Nordstrom, Belk, Foods, Brookfield Properties Grocery Locations: San Leandro , California, Arlington , Virginia, U.S, JLL, San Francisco
Read previewDrugstores like CVS, Walgreens, and Rite Aid have long been the spots where you can pick up essentials like a can of soup or some Tylenol in addition to your prescriptions. Another appears to show a Rite Aid store with an even wider selection of locked-up merchandise, including tortilla chips and microwavable ramen. Rite Aid did not immediately respond to a request for comment. She said she even avoids taking orders that involve shopping at one particular Walgreens store due to all the locked-up goods there. Do you work at CVS, Walgreens, Rite Aid, or another drugstore chain and have a story idea to share?
Persons: , that's, Neil Saunders, Saunders, Duane Reade, Walgreens execs, Tim Wentworth, GlobalData's Saunders, dreuter@businessinsider.com Organizations: Service, Walgreens, Rite, Business, Global, CVS, Rite Aid, Companies, Walmart, Target Locations: Brooklyn , New York, Nevada
Insider Today: A shot to reverse aging
  + stars: | 2024-08-10 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +7 min
On the agenda:This story is available exclusively to Business Insider subscribers. AdvertisementVeronica Thatcher, who's worked at Costco for 18 years, told Business Insider she also spotted "Halloween- and harvest-themed decorative pillows" in the big-box store this month. According to eMarketer, Lowe's made Halloween merch available online on June 1 and it'll be available IRL on August 23. iStock; Rebecca Zisser/BIWealthy patient, healthy jointsIt's hard to slow down aging, but the wealthy are giving it their best shot, literally. More of this week's top reads:The Insider Today team: Jordan Parker Erb, editor, in New York.
Persons: , I'm, Chelsea Jia Feng, you've, Veronica Thatcher, who's, Mike Booth, prepping, eMarketer, Lowe's, Taylor Rains, Insider's Taylor Rains, Beond, Rebecca Zisser, Bryan Johnson, — Johnson, Edward Berthelot, Burberry, Natalie Ammari, they've, Kit Harington, Oscar, Anthony Hopkins, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Amanda Yen Organizations: Service, Business, Retailers, Costco, CFVR, Home Depot, Burberry, US, HBO, Paramount, Showtime Locations: Alberta, Canada, Michaels, Italy, Maldives, Dubai, Bahamas, British, London, Nazi, New York, New York City
But all the excitement to get a jump start on Halloween comes as consumers are showing more signs of financial stress. Tricking consumers into treating themselves more“It’s clear that consumers have been interested in buying Halloween products earlier and earlier,” said Champine. Michaels said it started selling Halloween goods in June, the earliest the retailer has ever done so. The initial launch of Halloween goods at Michaels “has been consistently beating our internal expectations,” he added. By selling Halloween goods earlier, they’re likely hoping it’ll decrease the likelihood of having to discount, she added.
Persons: can’t, , Laura Champine, they’re, Joe Feldman, Michaels, ” John Gehre, Michaels “, ” Kelsey Robinson, Lance Allen, , ” Allen, David Zalubowski, they’ve, they’ll, Champine, ” Lowe’s, Feldman Organizations: New, New York CNN, Disney, Walt Disney, Loop, Telsey Advisory, CNN, Costco, Consumer, McKinsey, Labor, Depot Locations: New York, Los Angeles, Sheridan , Colorado, Lowe’s
How the Olympics Mascot Went From Bizarre to Beloved
  + stars: | 2024-08-09 | by ( Liz Alderman | ) www.nytimes.com   time to read: 1 min
Some think it’s a cross between the Eiffel Tower and a beret. Others see it as a goofy, red French Smurf. It’s Phryge (pronounced freej), the official mascot of the Paris Olympics. At the Olympics megastore on the Champs-Élysées, 15,000 shoppers stand in a line nearly five blocks long every day to snap up Phryge in its many iterations (Posing as the Mona Lisa! and to buy millions of euros’ worth of official Olympic-branded merchandise.
Persons: It’s Phryge, Mona Lisa ! Organizations: Eiffel, Paris, Games Locations:
The retailer is cracking down on sharing membership cards with a new policy in which all cards will be scanned at store entrances. Guests without cards must be accompanied by a member to enter, making it harder to slip in on borrowed cards. Members with cards without photos will be asked to show valid photo ID, and they are encouraged to have their photos taken to add to their cards at the membership counter. Costco relies on membership fees to drive most of its revenue and help keep merchandise prices low. Last year, Costco stepped up enforcement by adding an extra check for memberships in self-checkout aisles to stop shoppers from using other members’ cards.
Organizations: Costco Locations: U.S
The company's sales soared to $324.5 million in its fiscal first quarter, leading it to raise its full-year guidance. He added that its Bronzing Drops serum quickly became a best seller on the company's website after its launch during the quarter. Following quarter after quarter of outsized growth, Wall Street has come to expect a lot from E.l.f. The company now anticipates its adjusted net income will be between $198 million and $201 million, compared with a previous outlook of between $187 million and $191 million. During the quarter, selling, general and administrative expenses increased by roughly $88.6 million to $180.6 million, representing 56% of net sales.
Persons: Tarang Amin, E.l.f, Mandy Fields, Fields, I'm, we're, Amin, we've, Gen Z, We'll, Gabby Douglas, Anastasia, Tas, Jameela Jamil Organizations: CNBC, LSEG, Alpha Locations: E.l.f
Costco is cracking down on membership moochers
  + stars: | 2024-08-07 | by ( Erika Tulfo | ) edition.cnn.com   time to read: +2 min
CNN —Costco knows you’re using your friend’s membership card. To save you the embarrassment of telling you off when you’re in the checkout line, now Costco will try to catch membership moochers before they even get in the door. The retailer is implementing stricter policies and cracking down on non-members using other people’s cards by requiring shoppers to scan their membership cards to enter stores. Last year, the company began requiring shoppers to present their membership card and a photo ID to use the registers. It reported last year that it earned $4.6 billion in revenue from membership fees, an 8% increase from 2022.
Persons: Costco, ” Costco, CNN’s Elisabeth Buchwald, Samantha Delouya, Nathaniel Meyersohn Organizations: CNN, Costco, Canada – Locations: Canada
Later in the day, Instacart reported a 10% jump in the value of transactions on its platform during the second quarter. Total orders rose 19% during the company's second quarter, it said on August 1. "Increasingly, we're seeing customers coming to us for the first time actually for non-restaurant use cases," Xu said. AdvertisementCorrection: August 9, 2024 — An earlier version of this story misstated Instacart's average order value in the second quarter. Do you work for DoorDash, Instacart, Uber Eats, or another gig delivery service and have a story to share?
Persons: , they're, Uber, Dara Khosrowshahi, Instacart, Fidji Simo, Robert Mollins, Gordon, Mollins, DoorDash, We're, Tony Xu, Xu, Uber's Khosrowshahi, Instacart's Simo Organizations: Service, Business, DoorDash
Why 'wardrobing' retail fraud soars in the summer
  + stars: | 2024-08-07 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +5 min
A particular type of retail fraud soars during the summer season. Scot Case, executive director of the Center for Retail Sustainability at the National Retail Federation, said wardrobing can drive up costs and waste for retailers if the product can no longer be resold. "As companies build and integrate take back programs to repair and resell used items, returns take on a new role, fueling a new circular market." The average value of a returned item for Optoro's customers is $85. The highest item value reported as returned in the survey was $200.
Persons: Amena Ali, Optoro, Ali, TJ Maxx, coverup, Scot Case, Stephen Lamar, Lamar, Stephen Lamar's Organizations: CNBC, Center for Retail Sustainability, National Retail Federation, Eagle Outfitters, American Apparel and Footwear Association Locations: recommerce
For companies like Costco, Starbucks, and Dicks Sporting Goods, which have robust and well-established loyalty programs, a common thread is that rewards members are the biggest spenders. "For price-conscious consumers, loyalty programs provide opportunities to spend more comfortably thanks to discounts and deals." And Dick's has said loyalty members who also use its fast-growing youth sport management software spend twice as much with the retailer than loyalty members who don't. Beauty store chain Ulta, which already has its Ultamate Rewards program, is testing a complimentary program that includes 42 mini-games, Glossy reported in May. Of course, effective loyalty programs aren't just about encouraging existing members to spend more, they also depend on getting more casual shoppers to sign up.
Persons: , Jennifer King, Laxman Narasimhan, Dick's, Etsy, Harry Lawton, Lawton, aren't Organizations: Service, Business, Costco, Starbucks, Dicks Sporting Goods, Tractor Supply, Gold Star, Tractor Supply Company, Neighbor's Club, Target Locations: eMarketer
High-end real estateAbout 30% of India's UHNWI investments go into luxury real estate, including overseas projects, said Alok Saigal, president of wealth management firm Nuvama Private. People have moved away from investing in land as it is less liquid, and more wealth has been allocated to residential real estate since the pandemic, he added. Around 20% of Dubai's offshore real estate pie is owned by Indian investors. Startups' lureInvesting in startups is becoming increasingly popular, especially with the younger generation of rich Indians, wealth managers told CNBC. Bloomberg | Bloomberg | Getty ImagesAbout 17% of India's UHNWIs' wealth goes into luxury goods, with jewelry, art and watches as top preferences, findings from Knight Frank revealed.
Persons: Knight Frank, Alok Saigal, Alok, Chethan Shenoy, Anand, Saigal, Nitin Chengappa, India's, Chengappa, Anand Rathi Wealth's, LVMH Moet Hennessy Louis Organizations: Getty, India, Nuvama Private, Offshore, Nuvama, CNBC, Standard Chartered Bank, Shoppers, DLF, BMI, Bloomberg, Fitch Solutions, LVMH Moet Hennessy Louis Vuitton SA Locations: Mumbai, Beijing, New York, London, UHNWIs, Dubai, Delhi, New Delhi, India
Read previewMeta is counting on Gen Z's love of a good deal to attract more young users to Facebook. Facebook Marketplace has "seen particular traction with young adults" and has been "one of the drivers of strength in young adults" for Meta, said CFO Susan Li during Meta's Q2 earnings call last month. Among social media users, Marketplace is the most popular social commerce platform, according to Capital One Shopping research. AdvertisementIn an average month, up to 1.228 billion online shoppers worldwide make a purchase from Facebook Marketplace, and 51.2% of all social media users made their latest social media purchase from it. Thanks in part to Marketplace, Zuckerberg is "particularly pleased with the progress that we're making with young adults on Facebook," he said in the earnings call last month.
Persons: , Z's, Mark Zuckerberg, it's, Gen, Zuck, Meta, that's, Susan Li, Max Willens, Willens, Karissa Franklin, Franklin, Zuckerberg Organizations: Service, Facebook, Business, Meta
In August, Aldi is set to release dozens of special products, from easy meals to snacks. The retailer is set to have a few unique frozen pizzas and trail mixes available this month. At the end of the month, keep an eye out for fall items like maple-pecan-pie coffee. Go to newsletter preferences Thanks for signing up! Here are the best items at Aldi this month, each under $6.
Persons: Organizations: Aldi, Service
I visited Abercrombie & Fitch to see if the brand is living up to its recent hype. The brand has been revived, in part, by millennial nostalgia, but I don't feel a connection to it. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Fitch, , millennials Organizations: Abercrombie, Service, Business
Many emerging brands sell and advertise on Amazon to boost sales and attract new customers. But Kate Assaraf, founder of hair care brand Dip, says she has no plans to take that path. She's one of a chorus of small business owners who find selling on Amazon challenging. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But Kate Assaraf, the founder of hair care brand Dip, said she's resolved not to sell her products there.
Persons: Kate Assaraf, , she's Organizations: Service, Business
To address these challenges, Agbogu launched the Naija Brand Chick Trade Fair, a platform connecting SMEs directly with customers. “Many Nigerian SMEs struggle to reach a buying audience, which is a significant barrier,” she explains. “The trade fair creates a platform where businesses can connect directly with customers.”The trade fair has become a resounding nationwide success attracting thousands of exhibitors yearly since it started in 2018. Shoppers at Naijabrandchick trade fair in Lagos, Nigeria. We are always oversubscribed because entrepreneurs consistently tell us they achieve sales they have never achieved before in just two days at the fair,” Agbogu said.
Persons: Nelly Agbogu, ” Agbogu, , Agbogu, , It’s, Naijabrandchick, Agbogu’s Organizations: CNN, Nellies, , Trade, Shoppers, Intercontinental O2, SME, United Arab, , Wema Bank Locations: Nellies Nigeria, Lagos, Nigeria, Nigerian, Benin, London, , Canada, United Arab Emirates, Rwanda, Naijabrandchick, Africa, Kenya
Eugenicists used photographs and IQ tests to determine which people were "inferior," and sterilized those who didn't measure up — which usually turned out to be anyone who wasn't white and rich. Before he worked with photographs, Kosinski was interested in Facebook. It's just picking up on the way gay people present themselves on dating sites — which, not surprisingly, is often very different from the way straight people present themselves to potential partners. Kosinski thinks AI's ability to make the kind of personality judgments he studies will only get better. That is the future Kosinski fears — even as he continues to tinker with the very models that prove it will come to pass.
Persons: Michal Kosinski, Kosinski, I'm, they'd, isn't, Oppenheimer, David Stillwell, Stillwell, aren't, Brian Stauffer, Aleksandr Kogan, Donald Trump, , Kosinski isn't, MAGA, Bernie bros, Alexander Todorov, It's, they've, — Francis Galton, Ronald Fisher, Karl Pearson —, Aubrey Clayton, Hitler, Trump, They're, Adam Rogers Organizations: Stanford University, Kosinski, Facebook, Cambridge, Cambridge Psychometrics, National Academy of Sciences, Psychometrics, BI, intuit, Guardian, Rights, GLAAD, Stanford, HRC, University of Chicago, US Supreme, tinker, Business Locations: California, Stanford, Kosinski, Russia
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