Costco is ramping up its home grocery delivery efforts by teaming up with a third-party service.
Shipt, an online grocery delivery service, said Tuesday that it was adding Costco to its delivery service in the Tampa metro area. The service is available to consumers using the Shipt app.
Costco already has home grocery deliver service available in the San Francisco market through Instacart, another third-party delivery service. Costco didn’t respond to requests for comment. Continue reading “Costco Wholesale expands test of home grocery delivery through new third-party service”
There is a fundamental shift afoot in the grocery world, one that promises to recreate the shopping experience in customers.
Retailers, however, may not be so charmed and some will not survive the transition being driven by the following forces. Continue reading “Grocery Shopping Is About To Change Dramatically”
New York City is brimming with big box stores, Target, Sears’ Kmart and Best Buy, to name a few. But Walmart, the world’s biggest retailer, still can’t get traction in New York City, which is welcoming its third Target store to Manhattan this October.
Seemingly, there’s no love for Walmart in the Big Apple: Mayor Bill De Blasio, the United Food & Commercial Workers (UFCW), the union covering grocery workers, and some local residents continue to oppose having a Walmart in their neighborhoods. Continue reading “Walmart Is Still Being Banned From One of the World’s Biggest Cities, But Oddly Target Isn’t”
Target has chosen a veteran supermarket executive to revive its struggling grocery business.
Jeff Burt, the head of Kroger’s Fred Meyer division, has spent 30 years at Kroger, most recently overseeing the Cincinnati-based retailer’s more than 130 multi-department stores in Alaska, Idaho, Oregon and Washington. Based in Portland, Ore., those Fred Meyer stores sell both groceries and general merchandise, similar to Target’s business model. Continue reading “Target chooses Kroger exec to revive grocery division”
Amazon is putting the finishing touches on a concept for new Seattle area grocery stores called AmazonFresh Pickup, according to permit filings reported by GeekWire.
E-commerce giant Amazon has filed permits for stores in the Seattle neighborhoods of Ballard and SoDo, according to GeekWire’s images from the Seattle Department of Construction and Inspections. Continue reading “Amazon is planning to open drive-up grocery stores in Seattle”
There’s an all-out food fight happening in the grocery store business, and Costco became the latest victim to get hit with some pudding to the face.
The warehouse club retailer released second-quarter fiscal 2017 comparable store sales and profits that missed Wall Street’s forecasts. Shares of the company, which were fresh off hitting an all-time high, subsequently took a hit.
Costco is just the latest grocery store company to report worse-than-expected earnings. Kroger also released Wall Street-disappointing results last week, with a same-store sales dip of 0.7%. Continue reading “There’s a fierce food fight happening in the grocery store industry and Costco is a victim”
Grocery delivery startup Instacart has bagged a fresh $400 million from investors.
Instacart, which is based in San Francisco, is an on-demand service that has workers shop for groceries on behalf of customers and deliver them to their doorstep.
With the new round of financing, led by Sequoia Capital, the company is valued at $3.4 billion. It currently operates in 35 markets, and in the announcement Wednesday, said it expects to double that this year. Continue reading “Instacart is now a $3.4 billion grocery startup”
Mall landlords are now eagerly courting a type of retailer they once ignored: grocery stores.
As the internet reshapes the way Americans shop, landlords of mid- and low-quality mall properties are adapting to stay relevant, trying everything from restaurants to indoor skydiving.
Now a few are bringing in supermarkets. Continue reading “Coming Soon to Your Local Mall: Celery and Dog Food”
Groceries is a $650 billion market in the U.S., which is not overly surprising because, unless you are a robot, you need food. This probably won’t change, at least not in the foreseeable future. But what very well may change is how you get your groceries and prepared foods.
Currently, if you are an average consumer, you go to the supermarket around 1.6 times per week and each time you spend on average around $32, or $51.20 per week. If each trip takes 30 minutes, you incur an opportunity cost of 0.8 times your hourly wage per week (the median hourly wage for people with a Bachelor’s degree or more is currently approximately $24 in the U.S.), which means you essentially pay a 37.5 percent markup on the groceries you buy for going shopping yourself. Continue reading “How robotic delivery will disrupt the grocery industry”
Redoubled competition from no-frills grocery companies hailing from Germany — fast-growing Aldi, sibling Trader Joe’s and U.S. newcomer Lidl — poses a dramatic threat to Wal-Mart’s grocery sales, which account for more than half of its revenues.
Nick Egelanian, president of retail real estate consulting firm SiteWorks, says Wal-Mart is distracted by Amazon in particular and digital sales more generally, and doesn’t seem to realize there’s another, more dangerous shark in the water. “If I ran Wal-Mart, I would be much more concerned about [Lidl coming to America] than about Amazon,” Egelanian told Retail Dive last year. Continue reading “Walmart sparks grocery price war to compete with Aldi”