The value of the luxury resale space reportedly grew to $59 billion last year. That’s according to a report Tuesday (Feb. 24) by The Wall Street Journal (WSJ), which says the market for secondhand luxury goods is now growing faster than the primary market. The report describes...
Amazon will invest $12 billion in data center campuses in Louisiana that will support its artificial intelligence (AI) and cloud computing technologies, the company said in a Monday (Feb. 23) press release. The company will fully fund the infrastructure needed to power its operations. That...
Walmart has introduced a new data insights platform for its retail suppliers. Scintilla In-Store is an off-shoot of the company’s Scintilla platform, and is designed to “reduce out-of-stocks, streamline execution, and deliver a seamless omni-shopping experience,” Walmart Data Ventures announced in a news release Monday...
America’s packaged food giants are reportedly cutting prices to woo cautious consumers. General Mills, Kraft Heinz and PepsiCo are among the food companies who have either reduced prices or extended existing cuts amid cooling sales, the Financial Times (FT) reported Saturday (Feb. 21). The report...
Saks Global received court approval Friday (Feb. 20) for a $1 billion bankruptcy loan, Reuters reported Friday. The financing had been held up by vendors’ concerns that they may not get paid for goods they shipped to the luxury retailer before it declared bankruptcy, according...
Walk into a top-tier mall in a high-income suburb right now and you can still feel echoes of the holiday rush: full parking decks, busy food halls and steady lines at the “can’t-get-it-online” stores. Drive 20 minutes in the other direction and you may find...
Amazon has proposed a second big-box store in the Chicago area, Mass Market Retailers (MMR) reported Tuesday (Feb. 17), citing a paywalled article in the Chicago Tribune. The company submitted to local officials a proposal for a store in the Chicago suburb of Oak Brook,...
Amazon is undertaking its largest-ever capital spending program, set to reach $200 billion this year. This effort is being launched as part of a strategic reset due to fears that Amazon’s cloud business, AWS, is losing out to rivals in landing corporate artificial intelligence contracts,...
What used to be a retail war between Amazon and Walmart is now a platform war over who embeds themselves deepest into consumers’ daily routines. Over the past week alone, a cluster of headline announcements have clarified how far the category-defining rivalry has moved beyond...