The Harris Poll的动态

Moving into the final weeks of the 2023 #holidayshopping season, many consumers are probably wondering about retailer return policies. As I discussed with U.S. News & World Report the best return policies tend to include things like cross-channel capabilities and multiple refund options. Costco Wholesale is well-regarded in big box retail as the king of #customercentric returns, so it's usually a safe place to buy if you're concerned about needing to make a return come January.

"Consumer spending increased 2.5% in the first quarter compared to last year." While this growth may not be universal, it appears to be consistent among some off-price retailers, wholesale stores, and big box general merchandise stores. In my view, amidst the current economic landscape, more individuals are seeking cost-effective alternatives for their regular grocery and clothing purchases. Check out the full article here: https://lnkd.in/ep2en6tP

Pricing issues abound for retailers and manufacturers, alike. In case you missed it, here's an interesting article on price cuts from Walmart, Target, ALDI USA, Michaels Stores, McDonald's, and ARKO Corp. (NASDAQ: ARKO) For anyone considering pricing changes, consumer research can help you optimize those decisions. https://lnkd.in/gi7NJ_Jn #mrx #pricingoptimization #inflation #consumerinsights #marketingresearch

Gen ?? turns to Costco Wholesale! Amid rising consumer prices, ?? has entered the bulk buying game. In recent months, wholesale retailers, like Costco, have grown in esteem among these young cost-conscious shoppers. ? Costco’s lower per-unit food costs are attracting young shoppers, who are looking to reduce their individual grocery bills by bulk buying in groups and splitting items. ? Despite many groups purchasing groceries under a single membership, Costco has seen an increase in net sales and perceived brand quality among young shoppers. ?? Future Outlook ?? Costco is increasing their membership price by $5 as well as cracking down on membership sharing ??While the increase in membership likely won’t have much of an impact (especially those that are splitting the membership), the sharing crackdown I imagine will deter some of these shoppers. At least until they find another way around it! ______________ Also — Observing data from The Harris Poll’s QuestBrand, there has been a surge in Gen Z viewing Costco as a high quality brand. Brand Quality Lifts since the start of 2023 ? Gen Z – 18% Increase ? Age 18+ - 6% Increase ?? in Comments

Here are some interesting stories from the world of retail for Wednesday, January 10: ?? The Container Store has lowered its Q3 guidance. In a statement,?the home decor retailer said?it expects Q3 consolidated net sales to reach approximately $214 million versus prior guidance of $220 to $225 million. ?? Albertsons, the grocery chain in the midst of a protracted acquisition bid by rival?Kroger, has beaten expectations for its third-quarter profits and sales.?Net income for the three months to December 2nd came in at $361.4 million. ?? Neiman Marcus Group said its holiday quarter sales are on pace to decline and the discounting that characterized the season continues. Online sales were weaker than a year ago, but store sales held up and are trending flat. ? Walmart will have the ability to make drone deliveries with its partners Wing and Zipline to 75% of the Dallas-Fort Worth area by the end of this year, Walmart CEO Doug McMillon said Tuesday. ?? Costco Wholesale?appears to be testing a digital ID scanning station at the front door of at least one of its stores.?Shoppers spotted the tech at the store near Costco's corporate headquarters in Issaquah, Washington. ??? Purple's CEO said stores are the ‘toughest part’ of the brand’s model. “Two-thirds of them are working and a third of them aren’t,” Rob DeMartini said during a presentation at ICR. ?? Amazon shipped last-minute Christmas gifts faster in 2023 than in 2022, according to data from analyst firm Momentum Commerce.?Amazon, since 2019, has been making heavy investments to make delivery times faster. ?? ?The days of the resilient consumer could be coming to an end, says Fitch Senior Director David Silverman. It been “a surprise” for the consumer to be this healthy over the past few years and stronger headwinds are on the way. ??♀ Retailers say a surge in theft has hurt their bottom lines, but investors and analysts are looking for more specifics in coming financial reports, notes The Wall Street Journal. ?? Strong demand for premium products such as dry cured meats and steamed buns, as well as Christmas staples such as mince pies, helped boost?Sainsbury's?sales over the festive period. ?? At a time when Seattle drugstores are closing, an independent expands. Tukwila Station Pharmacy promises what its owners say is a community-centered pharmacy focused on strong customer relationships. ?? Disruptions caused by attacks on cargo ships in the Red Sea have once again created volatility in retail supply chains, leading to delays and increased costs, says the National Retail Federation. ???? Germany's?Galeria Karstadt Kaufhof, owned by?Signa, has filed for insolvency at the Essen district court, marking the third such proceedings in less than four years for the retailer. #retail #retailnews #economy?

An increasing number of young consumers are turning to warehouse stores like Costco Wholesale and Sam's Club to counter rising prices. Membership for wholesale stores among shoppers under 27 has increased by 63% in the past two years. A recent survey found that nearly 40% of 25-34-year-olds split bulk groceries with friends, neighbors, roommates, or family members. Price-sensitive trade-offs are nothing new, but the rise of communal bulk shopping presents an intriguing trend. Brands targeting household shoppers may need to reconsider what constitutes a 'household' in 2024. Product bundling and innovative packaging are two strategies brands can use to offer added value to consumers who are not only stocking their pantries. Let us know your thoughts on this below!

“Costco Wholesale (COST.O) topped Wall Street estimates for quarterly sales and profit on Thursday, as more customers turned to its stores to shop for cheaper groceries and essentials, sending its shares up about 2% after the bell. Costco has increased its sales and market share thanks to its strategy of maintaining low prices on basic essentials as well as a devoted membership base that benefits from incentives offered like a yearly 2% reward on qualified purchases at its warehouses.” “The company has also seen sales surge for its consumable categories like fresh food and sundries as well as private-label brand Kirkland Signature, as persistent inflation and higher borrowing costs pinches household budgets.” “Galanti also said that Costco saw better-than-expected Black Friday and Cyber Monday sales, echoing sentiment from other retailers like Foot Locker (FL.N) that have signaled optimism over holiday season sales.” “Costco saw its total paid household members rise by 7.6% in the quarter, while its membership fee revenues jumped 8.2% to $1.08 billion.” - Granth Vanaik

There’s no room for price gouging in an ultracompetitive business like retail,?Target?CEO Brian Cornell said Wednesday. In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points accusing grocers of inflating prices. He said retailers have to be responsive to customers or risk losing business. He was asked by CNBC’s Joe Kernen, who referred to comments by Democratic presidential nominee Vice President Kamala Harris and asked if Target or its competitors ever benefit from price gouging. Harris last week?proposed the first-ever federal ban?on “corporate price-gouging in the food and grocery industries,” saying some companies are charging excessively and fueling household inflation. “We’re in a penny business,” Cornell responded, noting the small profit margins in the retail industry. He described the many places that customers can turn to check for lower prices or to find merchandise elsewhere, from going to stores to browsing on their phones to compare the prices of a gallon of milk at different retailers. Target’s retail chief made the comments after the discounter?beat Wall Street’s expectations?for earnings and revenue on Wednesday, but struck a cautious note with its full-year guidance. It said it expects comparable sales, which take out the impact of store openings and closures, to be on the lower side of its range of flat to up 2%. Yet it raised its profit guidance, saying it expects adjusted earnings per share to range from $9 to $9.70, up from the previous outlook of $8.60 and $9.60. Inflation and?consumers’ outrage about high prices?have continued to loom large for companies like Target. A wide range of retailers, including?Home Depot,?Walmart?and?Macy’s, have reported over the past two weeks that cautious consumers are being picky about where they’re spending. Cornell said on “Squawk Box” that the retailer is trying to appeal to “a consumer who is managing their budget carefully” and said “value is in our DNA.” Target is one of the consumer brands that has?responded to shoppers’ concerns by lowering prices. It?cut prices on about 5,000 everyday items, such as diapers and peanut butter, to try to drive higher traffic and sales. Others, such as?McDonald’s, have?debuted value meals. So far, those discounts have shown signs of resonating at Target: In the quarter, customer traffic across Target’s stores and website rose 3% — even as shoppers put a little less in their shopping carts than they did a year ago. Walmart?CEO Doug McMillon said last week that?prices have come down?in many merchandise categories, but said that inflation “has been more stubborn” in the aisles that carry dry groceries and processed foods.

As I was making my monthly pilgrimage to Costco Wholesale this weekend, I couldn’t help but ponder the inefficiencies of: 1. A person checking your Costco card at the entrance. 2. The exit greeters slowing down the exit lanes. Costco is one of my favorite retailers for providing incredible value per dollar spent. It is famous for not marking its prices above 15% of the cost, whereas other retailers routinely mark up prices by 50-70%. It also has an amazing business model where they pay their suppliers after the products are sold from the aisles of Costco, leading to almost no inventory risk on its books. For such an astute retailer, I wonder why they can’t automate the check-in process with a card reader? Heck, we are in the Gen AI era! Even if someone gets in without the card, it is not like they can purchase stuff without scanning their card at the checkout aisle. The utility of exit greeters is even more difficult for me to understand. Costco doesn’t have a major shoplifting problem given their focus on bulk selling. How are you going to hide 3 pounds of cashew bags anyways? Costco says it is to prevent customers from being overcharged for double-scanned items or if the person helping with the checkout forgot to scan the bottom of the cart. Looking at you, all the Costco water bottle enthusiasts ?? Another reason someone mentioned on Reddit is to remind people to pick up gift cards from a different counter. Seriously, though, can't we just have a sign for that? It feels like these practices, while ingrained in Costco culture, might be due for a refresh. What do you think? Are human entry and exit greeters relics of a bygone era, or do they still hold value in today's Costco? --- ?For weekly scoop of tech, investing, and opinionated hot takes checkout - www.katariakapital.com

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