Cyber +7.3% | Porch Pirate Insurance | W.Foods Mini
Cyber Monday US spending breaches $13 bln as steep discounts online drive sales at Reuters. “Consumers spent 7.3% more compared to Cyber Monday in 2023. That follows the roughly $10.8 billion Americans spent online on Black Friday this year, according to Adobe, which keeps track of devices that use its software to help power more than 1 trillion visits to U.S. retail sites.” Read more
Porch Pirates Steal So Many Packages That Now You Can Get Insurance at WSJ. “PorchPals, a subscription-based startup that launches nationwide on Monday, says it will cover the cost of your stolen packages. It costs $120 a year and covers up to $2,000 of deliveries, or up to three claims a year…PorchPals had only been in California, but is now available across the country. Once a credit or debit card is linked to an account, all deliveries paid for with that card, including groceries and takeout, are covered.” WSJ subs.
Walmart Completes Acquisition of VIZIO Press release
Amid Gen Z’s love of cheaper, lab-grown diamonds, a natural diamond giant slashes prices at Fortune/Yahoo. “De Beers…has slashed its prices by 10% to 15%, Bloomberg reported…It’s the first substantial price cut since the start of the year and a large cut historically…Apparently, De Beers had tried offering customers more flexibility rather than lowering prices until it had no other choice.” Read more
Amazon’s Black Friday Week And Cyber Monday Deal Event Was Its Biggest Thanksgiving Holiday Shopping Event Ever Press release
Shoppers Fight Back as Retailers Crack Down on Returns at WSJ. “Priya Rednam-Waldo, a therapist and life coach, said she stopped shopping online at Saks Fifth Avenue and Neiman Marcus after they added restrictions. In April, Saks began charging $9.95 for returns by mail, while Neiman charges a similar fee for clearance items and those returned after 15 days.” WSJ subs.
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AI will power your holiday shopping this year at St. Louis Post Dispatch. “Adobe said 70% of 5,000 surveyed who used AI for shopping believe it enhances their experience. Coveo found that 39% of Generation Z and 44% of millennials surveyed said they would use a virtual assistant like ChatGPT for help buying gifts online.” Read more
US Black Friday spending in stores and online rose 3.4% year-over-year, data show at Reuters. “Sales at brick-and-mortar stores grew just 0.7% year-over-year, according to preliminary estimates by payments processor Mastercard, and were lower according to data firm Facteus…Yet U.S. e-commerce sales increased by a hefty 14.6% online, according to Mastercard SpendingPulse…” Read more | Mastercard press release
Whole Foods Chases Shoppers With Minimarket Concept at WSJ. “Whole Foods said its first Daily Shop in Manhattan has exceeded sales projections every week since opening. The grocer, which operates more than 500 locations nationwide, has four more Daily Shop stores in New York City and will bring the format to Washington, D.C., in mid-2025, a spokesperson said.” WSJ subs.
TikTok influencer Marlena Velez arrested for second theft at same Target at NY Post
Can AI chatbots make your holiday shopping easier? at AP. “Perplexity AI’s new shopping feature allows users to enter search queries such as “best phone case” and to receive answers derived from various sources, including Amazon and other retailers, such as Best Buy. Perplexity also invited retailers to share data about their products and said those that do would have an increased chance of having their items recommended to shoppers.” Read more
Shoppers hunt for deals, but Dollar General and Dollar Tree aren’t reaping the benefits at CNBC. “Dollar General has acknowledged stiffer competition. “The guys in Bentonville…took a little bit larger piece” of the retailer’s middle-income customers, Vasos said…” Read more
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