Consumers’ deal-seeking behaviors motivate them to shop brick-and-mortar even as grocers aim to boost eCommerce. The Context In an interview with PYMNTS, Barbara Connors, vice president of commercial insights at 84.51°, the marketing insights subsidiary of grocery giant Kroger, noted that consumers who are worried...
BJ’s Wholesale Club says customers are renewing their memberships at record levels. In fact, 2022 was a “record year” for the company as a whole, CEO Bob Eddy said Thursday (March 9), with before-tax earnings topping $1 billion for the first time, while digital sales rose 22% for...
Loop now offers an app that lets Shopify merchants use data to optimize their returns processes. The new Benchmarks by Loop automatically compares a merchant’s refund rate, top refunded products, time to repeat purchase and other returns data to industry benchmarks, Loop said in a Wednesday (March...
Etsy’s stock has dropped following analyst concerns about decreased spending on the site. The investment bank Jefferies issued a “rare double downgrade” for the eCommerce company, Yahoo Finance reported Thursday (March 9), switching Etsy’s stock from the “buy” to “underperform” category. “Buyers are churning faster...
Fast fashion giant Shein is reportedly raising $2 billion as it prepares to go public. The Chinese online retailer has drawn investments from the United Arab Emirates’ sovereign wealth fund Mubadala, private equity company General Atlantic and venture capital outfit Sequoia Capital China, Reuters reported...
Though it’s still a work in progress, instant checkout’s appeal is undeniable. Emily Foshee, vice president of core products at Discover® Global Network, said unattended checkout is gaining steam in brick-and-mortar settings and will gain speed, so to speak, with the aid of advanced technologies....
It’s an off-price retailer’s market. While large department stores ranging from Nordstrom to Kohl’s are struggling to find their footing, off-price retailers such as Burlington Stores are finding an opportunity to shine. PYMNTS research shows that nearly 70% of retail consumers expect significant price increases...
To boost membership and consumer spending beyond groceries, Walmart’s subsidizing at least some of the cost of its memberships. To that end, and as detailed in emails seen by PYMNTS promoting the chance to “save on Spring shopping,” American Express Platinum Card holders can get...
As major brands raise wholesale prices, retailers are seizing on the private label opportunity. On a call with analysts Wednesday (March 8) discussing its third-quarter FY2023 financial results, Casey’s, the third-largest convenience store chain in the nation, said confectionery giants’ recent price increases have left...
