Tipsheet: WaWa: Exact Change Only | Soap Pump Shortage | 2 Buyers Eye Brooks Bros
Walmart’s New Challenge to Amazon Prime Has Deep, Hidden Roots at Bloomberg. “While details of the program, dubbed Walmart+, are still hazy, the service is rooted in three experiments the world’s biggest retailer has conducted in recent years to gauge the willingness of its shoppers to deepen their allegiance. The trials span the globe and include mobile checkout, unlimited grocery delivery and a social media-based mini-app in China.” Read more
U.S. wholesale prices fell 0.2% in June as food costs dropped sharply at AP. Read more
WaWa, Giant begin asking for ‘exact change’ as coronavirus leads to nationwide coin shortage at The Hill. “WaWa, a popular convenience store in New Jersey and the East Coast, has told customers to either pay with credit or debit cards, mobile app or exact change amid the recent currency shortages, 6ABC in Philadelphia reported.” Read more
Etsy sellers are offering sheer mesh face masks that provide ‘very little protection’ at The Verge. “While it’s not clear that mesh mask sales are particularly widespread on Etsy, mask sales on Etsy have been huge. More than 12 million face masks were sold on Etsy in April alone, totaling around $133 million in sales.” Read more
PriceSmart May comp net merchandise sales -6.7% Press release
Soap Makers Are Cleaning Up Amid the Pandemic, but Can’t Get Enough Hand Pumps at Wall Street Journal. “Executives say the price of pumps—most of which are made in China—has rocketed and that lead times on orders, typically five weeks, are now stretching into next year. AptarGroup Inc., a U.S.-based pump maker, said it has accelerated investment in new tools, molding equipment and assembly machines that can put together 100 parts a minute but that supply isn’t keeping up with demand.” WSJ subs.
Luxury brands turn from Hong Kong to mainland Chinese consumers at CNBC. “In five years, the Chinese share of global luxury spending will rise to nearly half, split evenly between domestic and overseas markets, Bain predicted.” Read more
**A message from Comfy Sacks bean bag chairs – Sales of premium bean bags filled with superior quality furniture foam are setting sales records. Put them in your stores now! Booklet | Video | Website | Sample bag: info@eyeonretail.net
Starbucks to require customers wear face masks inside its cafes at GeekWire. Read more
Google bans ads for products and services that secretly track or monitor people at CNBC. “The ads discovered included: “How to catch a cheating spouse with his cell phone” and “Track My Wife’s Phone — Want to Spy on your Wife? Track your Wife without her knowing. Discover Who Are They messaging. Download! 24-Hour Support Price Superiority No Jailbreaking and App Results Guaranteed.” Read more
Wegmans Announces Permanent Closure Of All 12 ‘Pub’ Restaurants at CBS 3 Philly. Read more
Bed Bath & Beyond’s New Execs Go Through the Wringer at Wall Street Journal. “The company’s next big challenge will come this quarter, which encompasses the back-to-school month of August, when sales are traditionally strong. The company said on Wednesday’s call that it has “overhauled and elevated” its college selection to make it more affordable. It is unclear how much that matters, though, as many college students might stay at home this fall.” WSJ subs.
Meijer opens five supercenters in the Midwest Press release
Brooks Brothers has two potential buyers amid bankruptcy filing at NY Post. “WHP Global and Sparc Group LLC are looking to bid on the 202-year-old formal wear empire after the coronavirus pandemic and a broader shift toward casual clothing forced it into bankruptcy protection, according to The Wall Street Journal.” Read more
Are You Prepared for Bad Press About One of Your Suppliers? at Harvard Business Review. “Interestingly, we found that positive news related to social issues (like providing exceptional benefits for factory workers) and environmental issues (like gains in closed-loop recycling) did nothing to enhance quality perceptions. This outcome highlights what psychologists call the negativity bias – that negative information is more compelling to consumers than positive information.” Read more
Tipsheet Extra
After lobbying, Catholic Church won $1.4B in virus aid
If Walmart is open, schools should be, too, DeSantis says
11th case of dengue fever confirmed in the Florida Keys
Big Y extends & expands price freeze
NYC diners are being attacked by rats while eating on the sidewalk
**
Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.
Subscribe to Eye on Retail Tipsheet here
Contact us: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to info@eyeonretail.net
Website: eyeonretail.net