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.
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A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
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.
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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.
