The Jason & Scot Show - E-Commerce And Retail News

EP142 - Industry News and Retail Earnings

Scot Wingo Tarheel of the week.

Amazon News

• Amazon licensing it’s Amazon Go “Just Walkout Technology” to Hundai in S. Korea
• Whole Foods now selling via Alexa
• Whole Foods  offering 30-minute windows for curbside pickup
• Party City selling on Amazon

Walmart News

• Earnings – Same Store Sales up 6% y/y (highest in 10 years)
• 40% E-Com Growth 
• Traffic and Tickets up 2% in US
• Grocery pickup is now in more than 1,800 locations (40% of US Pop by EOY)
• “Clearly, the consumer backdrop is favorable, we’re getting a little bit of benefit from that”, Dan Binder VP Investor Relations
• Allowing 3p returns in stores
• Walmart co-leads $500M investment in Chinese online grocery service Dada-JD Daojia

Target News

• Same Store Sales up 6.5% y/y (highest in 13yrs)
• E-Com Up 41% (vs 36% last year)
• Traffic up 6.4%
• “I’ve been doing this for a long time, and I think this is the healthiest environment I’ve ever seen” Target CEO Brian Cornell
• Same Day Delivery 1100 stores / Curbside pickup 800 stores
• Owned Brand Cat & Jack $2B in 1 year

Mallageddon

• 4,379 closures / 2,239 opens = 2,100 net fewer stores  (net 2800 reduction in stores in 2017)
• Loss of 35M ft sq of retail space (closed stores are typically smaller footprint than new store openings)
• Industrial space is now MORE expensive than retail space

Upcoming:

• Shop.org September 12-14th, Las Vegas
• Groceryshop October 28-31, Las Vegas

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Episode 142 of the Jason & Scot show was recorded on Thursday, August 23rd, 2018.

http://jasonandscot.com

Join your hosts Jason “retailgeek” Goldberg, SVP Commerce & Content at SapientRazorfish, and Scot Wingo, Founder and Executive Chairman of Channel Advisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.