Sweden is winning the race among European nations to restore the economy from the coronavirus pandemic, according to data published on Friday (May 29), CNBC reported. The Nordic country reported its gross domestic product (GDP), a measure of economic health, grew at an annual rate of 0.4 percent from January...
The Walmart Amazon Whole Paycheck Tracker: Retail Giants Eye Key Acquisitions And Expansions
Both Walmart and Amazon made some big add-ons and/or acquisitions this week as they attempt to widen their sphere of retail influence in a post-pandemic world. Amazon made a big push into the automotive world, while Walmart doubled down on secondhand clothing sales. It was a busy week in the race...
The Week In Payments: How Businesses Can Navigate The Road To Recovery
Most every state in the U.S. this week is starting to walk the road to recovery. Mandatory stay-at-home orders are easing and businesses are beginning to reopen, albeit in very different ways than at the start of the year. As Deluxe CEO and President Barry C. McCarthy told Karen Webster for the latest...
How Disney Is Remaking The Magic Kingdom For Social Distancing
After officially shutting its doors in mid-March and furloughing staff, Disney World is planning its comeback. The park has officially scheduled a grand reopening for July. Disney officials plan a phased reopening that will see the Magic Kingdom and Animal Kingdom parks fire back up on July 11, followed by Epcot Center...
Savings Rate Sets Record At 33 Percent In April
The consumer savings rate hit a historic 33 percent in April, as Americans hunkered down amid COVID-19, the U.S. Bureau of Economic Analysis (BEA) announced Friday (May 29). “There is a tremendous uncertainty and virus fear that is lingering and that is restraining people’s desire to go out and spend as...
Main Street’s Pandemic-Led Shift To Digital Innovation
The lockdown of the United States economy, which was designed to slow the coronavirus’ spread, changed the way consumers browse, shop and pay for purchases. Businesses that didn’t have eCommerce channels could not sell their products, while eateries that lacked online ordering couldn’t serve diners. Small and medium-sized companies faced the choice...
Ad Platform Gives SMBs A Shot At Media Revenue
Self-service retail tools have gained momentum over the last week, as SMBs look to make the digital shift a consistent part of their business. Facebook, Instagram and Shopify’s social selling tools have been met with a positive reception, and now the advertising platform Criteo is giving SMBs access to consumer...
Nordstrom Plays The eCommerce Card
The digital shift has come to Nordstrom, and not a moment too soon. The department store chain earned a respectable first quarter as announced Thursday (May 28) through a mix of shrewd inventory management, financial reorganization and eCommerce strength. While pointing out that it ended calendar 2019 in solid condition,...
Costco Same-Store Sales Rise 4.8 Pct Amid Pandemic
As shoppers stocked up on products in bulk amid the pandemic, Costco’s same-store sales increased 4.8 percent for the period concluding on May 10. The warehouse club’s online shopping sales, however, surged 64.5 percent compared to the same timeframe a year earlier, CNBC reported. Costco has almost 800 retail locations throughout...
JDE Peet’s Notches $2.6B In IPO
After it notched €2.25 billion ($2.6 billion) in one the largest initial public offerings (IPOs) in Europe as of 2018, JDE Peet’s stock surged over 12 percent in its inaugural trading day. The listing serves as one of the largest IPOs after the COVID-19 health crisis impacted international economies and...