Every major business is trying to compete in the Amazon-driven marketplace and Petco is doing the same thing with the recent appointment of Brock Weatherby. The digital executive was appointed EVP of Strategic Innovations for the pet brand in April 2017.
Weatherby discusses changing the digital strategy to introduce apps that already exist and integrate them into the Petco experience as additional services for pet owners. Under Weatherby, Petco purchased PupBox , a subscription service that delivers customized products for your pet.
The brand also introduced another service called Heads & Tails by Petco, which allows pet owners to take photos and upload them to receive a gift card that they can donate to pets in need. Weatherby says these digital strategies are ways for consumers to interact with the brand and drive awareness into the brick and mortar stores as well.
The Food and Drug Administration is asking Congress for new powers, including the ability to mandate drug recalls and require eyedrop makers to undergo inspections before shipping products to the U.S.
The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year.
Eliott Wellenbach, vice president and institutional ETF strategist with Direxion, joined Cheddar News to discuss what traders are expecting from consumer spending ahead of the holidays and how they're positioning themselves following the latest inflation data and mortgage rates.
