EP142 - Industry News and Retail Earnings
Scot Wingo Tarheel of the week.
Amazon News
Amazon licensing it’s Amazon Go “Just Walkout Technology” to Hundai in S. Korea Whole Foods now selling via Alexa Whole Foods offering 30-minute windows for curbside pickup Party City selling on AmazonWalmart News
Earnings – Same Store Sales up 6% y/y (highest in 10 years) 40% E-Com Growth Traffic and Tickets up 2% in US Grocery pickup is now in more than 1,800 locations (40% of US Pop by EOY) “Clearly, the consumer backdrop is favorable, we’re getting a little bit of benefit from that”, Dan Binder VP Investor Relations Allowing 3p returns in stores Walmart co-leads $500M investment in Chinese online grocery service Dada-JD DaojiaTarget News
Same Store Sales up 6.5% y/y (highest in 13yrs) E-Com Up 41% (vs 36% last year) Traffic up 6.4% “I’ve been doing this for a long time, and I think this is the healthiest environment I’ve ever seen” Target CEO Brian Cornell Same Day Delivery 1100 stores / Curbside pickup 800 stores Owned Brand Cat & Jack $2B in 1 yearMallageddon
4,379 closures / 2,239 opens = 2,100 net fewer stores (net 2800 reduction in stores in 2017) Loss of 35M ft sq of retail space (closed stores are typically smaller footprint than new store openings) Industrial space is now MORE expensive than retail spaceUpcoming:
Shop.org September 12-14th, Las Vegas Groceryshop October 28-31, Las VegasDon’t forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes.
Episode 142 of the Jason & Scot show was recorded on Thursday, August 23rd, 2018.
Join your hosts Jason “retailgeek” Goldberg, SVP Commerce & Content at SapientRazorfish, and Scot Wingo, Founder and Executive Chairman of Channel Advisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.
