Walmart will raise its U.S. store managers’ base pay from an average of $117,000 per year to $128,000 and has redesigned its bonus program to include a store’s profits, not just its sales. Bonuses could now amount to 200% of a manager’s base salary. Additionally, Walmart will offer stock grants of up to $20,000 annually…
Online electronics and appliance marketplace Newegg is making a big push into resale with the debut of Newegg Refreshed, a refurbishment program for pre-owned products. Among the product categories now available in refurbished condition on Newegg are Apple products (iPhone, iPad and MacBook) and Advanced Battlestations (ABS) gaming desktop PC systems, as well as other…
TikTok is testing a new feature that could make all video posts on the social media platform shoppable. The feature, which was first reported by Bloomberg and confirmed by a TikTok spokesperson, uses technology that automatically identifies objects in video content and then links to similar products available in TikTok Shop. Previously, only creators…
For some people (including me!), gift-giving is as anxiety-inducing as speaking in public, but Etsy has a present for us. The marketplace’s new Gift Mode is an interactive hub, powered by AI and human curation, that’s designed to provide a one-stop experience for any gift-giving occasion. “Gift Mode helps solve two of the most vexing…
Generative AI (Gen AI) has brought about a seismic shift that’s reshaping customer interactions and business operations. As retailers ride the AI wave, it’s important to simultaneously address both the opportunities and responsibilities it brings. Gen AI, with its vast potential for enhancing efficiency and personalizing customer experiences, also comes with ethical considerations. For retail…
Michaels has been awarded an educational school supplies cooperative contract for Texas’ Region 4, an eight-county area in southeast Texas serving more than 1.2 million students. The retailer will work with purchasing organization Omnia Partners to let schools and other organizations shop for more than 300,000 items through MichaelsPro Education, receiving benefits including low order…
To help retailers determine the post-purchase carbon impact of products like appliances, electronics and outdoor power equipment, the Retail Industry Leaders Association (RILA) has partnered with Optera to develop the Direct-Use Product Emissions Database (DPED). The DPED will help fill current reporting gaps and align how retailers measure, compare and communicate greenhouse gas emissions. It…
Fitness center chain Planet Fitness is the latest company to jump on the media network bandwagon with the debut of its PF Media Network. The new network aims to connect advertisers to Planet Fitness’ more than 18.7 million members, both in clubs and across digital channels. The company currently has 2,575 locations across the U.S….
[Update 1/29/2024] – A group of investors representing more than 50% of Farfetch’s 2027 convertible notes has banded together to oppose the sale of Farfetch to South Korean ecommerce company Coupang. Calling themselves the 2027 Ad Hoc Group, the investors have appointed legal and investment advisors to evaluate alternatives to the sale, including a breakup…
CVS Health has agreed to purchase 264,000 megawatt hours (MWh) of zero-emission renewable energy annually from clean energy producer Constellation Energy to aid its ongoing carbon reduction efforts. These MWh, the equivalent of the annual electricity used by nearly 1,000 CVS locations in California, Washington, D.C., Delaware, Maryland and New Jersey, are being purchased through two separate long-term agreements with Constellation…
