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.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
