Tuesday’s Tipsheet: H.Depot’s Innovation Awards | High Earners Like Dollar Stores
“Two-Thirds of $150K+ Households Shop at Dollar Stores” “Dollar stores are popping up all over the US, but it’s not just discount shoppers taking advantage of these discount prices. According to new research from Mintel, just under one-third (32%) of respondents from the highest-income households ($150k+) claim not to shop at dollar stores, and half (50%) in this income group say that they are shopping at dollar stores the same amount this year compared to last year.” Read more
“The Home Depot Presents 2013 Innovation Awards” “Home Depot today announced that Cree won the retailer’s 2013 Innovation Award for its LED light bulb. The annual award recognizes the most revolutionary new products that provide true benefits to consumers and the companies that exceeded expectations in sales, service and program execution. Mohawk Soft Spring Carpet received first runner-up honors for Soft Spring Carpet, and Plantation Patterns Patio won second runner-up honors for its Create Your Own Collection patio furniture.” See the Top Ten Winners
“How Angry Walmart Workers Helped Convince Foreign Investors To Dump Shares” by Clare O’ Connor at Forbes. “When Sweden’s largest state-backed pension funds divested their holdings in Walmart last week, it was a move six years in the making — and one that followed lobbying efforts by Walmart’s own workers.” Read more
“Groceries Are Cleaning Up in Store-Brand Aisles” by Stephanie Strom at NY Times. “Over the last three years, sales of store brands grew 18.2 percent, accounting for $111 billion in sales, according to Nielsen. That is more than twice the rate of growth for national brands — 7.9 percent to $529 billion — over the same period.” Read more
“Best Buy and Ace Hardware Weigh-In on Dynamic Pricing” by Andrew Nusca at ZD Net. “Within the last two years, Ace has been working to implement a pricing demand system with IBM. Because the company is not competing to be the lowest-priced retailer around, and emphasizes relationships above all, Ace is focusing on the rules aspect more than any other, Voelker said. “The usual optimization is to use math and science to maximize profit,” he said. “With our model, I have 3,500 bosses—the independent store owners. They all have final say and control for the final prices in our stores.” Read more
“CEOs from Home Depot & Whole Foods to Speak at Austin Summit” by Jan Buchholz at Austin Business Journal. “The Conscious Capitalism CEO Summit is designed for CEOs who conduct their business in a different way from the norm, to meet and share with peers in an intimate setting,” Rauch said. The program begins Tuesday morning and ends at noon Oct. 10. About 200 CEOs are expected, each paying about $4,000 each to attend.” Read more
“Aldi supermarket tycoons top German rich list” at ABC News. “At the top of the list…Aldi co-founder Karl Albrecht, who is 93 and lives out of the public eye, had an estimated fortune of 17.8 billion euros, making him “the longest reigning richest person of any country”, said the magazine. Forbes magazine’s rich list puts him at number 18 worldwide. At second place…with 16 billion euros were the families of Theo Albrecht Jnr and his late brother Berthold, co-owners of the separate company Aldi Nord, which also owns Trader Joe’s in the United States.” Read more
“Walgreens rolls out financial services card in 3 markets” at Chicago Tribune. “The prepaid MasterCard, which can be reloaded at any of more than 8,100 Walgreens or Duane Reade stores, offers an alternative to cash for those with limited access to traditional checking accounts or credit cards. It also will allow no-fee ATM withdrawals and check-cashing services.” Read more
“Donning Disguises with the CEO of Texas Roadhouse” by Ryan Bradley at CNN Money. “The CEO likes to take a dirty old T-shirt with him on the road. He also carries false teeth and a sweat-stained hunting hat, and lots of cash. He tips well, even though, when he’s wearing the shirt and the hat and the hillbilly dentures, he’s been asked if he can afford the restaurant he’s sitting in — which is usually one of his own.” Read more
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