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.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
With a merger this big, creators, studios, and theaters all face uncertain futures. Here’s what experts are worried about and what good could come from it.
