Wal-Mart Stores Inc., and its subsidiary, Jet.com, have launched a partnership with BuzzFeed’s Tasty App. Lisa Landsman, president of Jet.com, says that focusing on one demographic in particular has helped her company lead Wal-Mart forward in the e-commerce space.
“Obviously we are very focused on this urban, affluent consumer where our brand has really taken hold, and providing a differentiated experience, with an assortment that's not readily available in so many other places online,” she said.
The year-old partnership has paid off for Wal-Mart. In the latest quarter earnings, it grew its online sales by 50 percent. WalMart is also selling over 70 million items, triple what it sold last year. Jet.com launched its everyday essentials line, Uniquely J, earlier this fall. The line, which features edgy packaging designs and premium ingredients, is an effort to target a younger customer, and compete with Amazon’s private label division.
Companies have been actively trying to counter Amazon’s e-commerce empire, which continues to dominate the industry quarter after quarter. The new deal with Buzzfeed’s Tasty app is expected to boost WalMart’s numbers, as the do-it-yourself platform has over 91 million followers across social media.
Landsman tells Cheddar that Jet.com’s partnership with Wal-Mart is successful because their targets are different. She says that Wal-Mart’s focus is rural, while Jet.com focuses on expanding the company’s millennials, urban, and affluent reach.
Wal-Mart acquired Jet.com in October of 2016.
Orangetheory Fitness is redefining the future of workouts with smarter tech, strength-based programming, and community-driven studios built for what’s next.
Spain's government has fined Airbnb 64 million euros or $75 million for advertising unlicensed tourist rentals. The consumer rights ministry announced the fine on Monday. The ministry stated that many listings lacked proper license numbers or included incorrect information. The move is part of Spain's ongoing efforts to regulate short-term rental companies amid a housing affordability crisis especially in popular urban areas. The ministry ordered Airbnb in May to remove around 65,000 listings for similar violations. The government's consumer rights minister emphasized the impact on families struggling with housing. Airbnb said it plans to challenge the fine in court.
Roomba maker iRobot has filed for Chapter 11 bankruptcy protection, but says that it doesn’t expect any disruptions to devices as the more than 30-year-old company is taken private under a restructuring process. iRobot said that it is being acquired by Picea through a court-supervised process. Picea is the company's primary contract manufacturer. The Bedford, Massachusetts-based anticipates completing the prepackaged chapter 11 process by February.
Serbia’s prosecutor for organized crime has charged a government minister and three others with abuse of position and falsifying of documents related to a luxury real estate project linked to U.S. President Donald Trump’s son-in-law Jared Kushner. The charges came on Monday. The investigation centers on a controversy over a a bombed-out military complex in central Belgrade that was a protected cultural heritage zone but that is facing redevelopment as a luxury compound by a company linked to Kushner. The $500 million proposal to build a high-rise hotel, offices and shops at the site has met fierce opposition from experts at home and abroad. Selakovic and others allegedly illegally lifted the protection status for the site by falsifying documentation.
