Target will open a small-format store in South Burlington, Vt., this week, marking the retailer's first store in the state and giving it a presence in all 50 states. Target will also open seven other small-format stores this week, giving the company 83 stores with its smaller footprint.
Called the "Amazon of its day" by a former executive turned Columbia University professor, Sears has a long history in the US, starting in 1886 and creating its first mail-order catalog in 1888. "What Sears did was make big-city merchandise available to people in small towns," author Marc Levinson said.
Walmart is positioned well to thrive in the quickly shifting retail landscape, according to company leaders at its annual meeting with investors Tuesday. "We continue to operate with discipline, we're strengthening our cost culture and we're leveraging technology, data and analytics in new ways to be more productive," said Chief Financial Officer Brett Biggs.
Albertsons has launched its Marketplace e-commerce site, designed to draw attention to the company's specialty, natural and organic products. The grocer is working with global solutions provider Mirakl to glean user data from the site, which will help highlight national and local food trends.
Instacart has received $600 million in additional capital investment from hedge fund D1 Capital Partners, targeted by management to help further the company's North American expansion. This latest investment brings the online grocery delivery company's value to $7.6 billion.
Target will raise its game in the toy department in time for the holiday season, looking to gain market share in the category following the closure of Toys R Us stores. Target will add 250,000 square feet of toy selling space at more than 500 stores, expand its toy offerings with 2,500 new and exclusive products, add shopping features such as interactive walls and hold 25,000 "hours of joy" events in stores.
Huawei's new flagship phone, the Mate 20 Pro, is designed to compete with high-end devices such as the iPhone XS Max and the Galaxy Note 9. The device features facial recognition security, an artificial intelligence engine and three rear-facing cameras.
Family-owned Italian coffee brands Lavazza and Illy are taking steps to grow amid rising competition from Nestle and Starbucks. JAB Holding will start selling Illy pods for Nespresso coffee makers and Lavazza has bought Mars' coffee division in a deal valued at $650 million.
Millennials and members of Gen X have shown a willingness to pay more for premium food and beverage options like all-natural or organic items, and Gen Z and millennial consumers are open to ordering technology such as tablets or self-service kiosks, according to Datassential. In addition, around one-third of Gen Z and more than a quarter of millennials are cutting down on their meat consumption, and the latter group is twice as likely to be vegan compared to the general population.
- Page 1