Jet.com Exec on Wal-Mart's New Strategy to Take on Amazon
Private-label fans no longer need to compromise! Walt-Mart’s Jet.com launched private-label brand Uniquely J, which boasts better packaging, higher quality, and attractive price points. Jet.com president Liza Landsman joined Cheddar to discuss the strategy.
The perks don’t stop there, Landsman says. The e-commerce company looked at a year’s worth of data, detailing the items most coveted by its core consumers. Among the winners? Fair-trade coffee, PBA-free plastic storage bags, and certified organic products.
“Our insights from those consumers tell us [environmental consciousness is] really an important factor for them, beyond price and quality,” she said on Friday.
The Boston Consulting Group says half of U.S. millennials between the ages of 18 and 24, and 38 percent of those between 25 and 34, agree that brands "say something" about their identity, values, and where they belong. This is often a popular deciding factor for millennials when considering purchases.
Similarly, private labels have gained great appeal with millennials over the past few years. According to market research firm Mintel, more than one-third of U.S. shoppers preferred to buy store-brand products over name brand one.
Wal-Mart, which acquired Jet.com for $3 billion last year as part of its effort to take on e-commerce giant Amazon, is betting on Uniquely J for its reach of “urban, more affluent millennials,” and compete with Amazon in the private label sector.
However, analysts predict that Amazon’s acquisition of Whole Foods will boost the company’s private labels sales.
Terecircuits CEO Wayne Rickard explains some of the other companies set to benefit from the Nvidia-led chipmaking rally, including manufacturing and toolmaking companies.
Axios reporter Erin Doherty breaks down the results from the South Carolina primary as former President Trump gets closer to winning the GOP nomination.
Jay Woods of Freedom Capital Markets shares thoughts on how the latest inflation report will impact the market, and why he expects a ‘cascade’ of IPOs if Reddit’s public debut goes well.
During AT&T's widespread outage Thursday, landline phones were a working alternative — which most of the U.S. does not have. Over half of Americans are estimated to have ditched landlines altogether.
Jade Kearney Dube, Founder & CEO of She Matters talks the Symptom Tracker app, cultural competency for healthcare providers, and being a Black woman CEO looking for funding.
Ahead of April’s planned BitCoin halving, Bitfarms CEO Geoff Morphy shares why he thinks the crypto rally will continue, plus why you’ll see a broader adoption of clean energy for mining.
Did you know there's a big difference between a dude ranch and a working cattle ranch? Check out the new generation of ranches, and live out your cowboy dreams.
