Amazon will now give Prime members a 5% discount when they shop at Whole Foods Market stores using their Amazon Rewards Visa Cards, the company said. Amazon Prime members pay a $99 annual fee for benefits including free shipping and video streaming, and the Rewards Visa comes with other perks including 5% discounts on Amazon purchases.
Barneys New York was looking to revive slowing sales when Daniella Vitale took over as CEO last year, even as younger consumers were fueling growth in luxury retail sales. Vitale has led a marketing push to cater to the 35-and-under crowd with in-store events, digital innovation and plans to start testing a loyalty program this year.
Changes at New York Fashion Week, including the absence of some high-profile designers, has some retail buyers wondering about the future of the event. "How mundane much of this has become begs the question of, how relevant is a fashion show," said Ken Downing, fashion director at Neiman Marcus.
Online jewelry retailer Diamond Hedge has launched an app that uses augmented reality to let brides-to-be virtually try on engagement rings and see how they would look as her hand moves. "Basically what we're trying to do is make the whole diamond shopping process digital," founder Mehul Sompura said.
Albertsons will acquire a majority of the Rite-Aid drugstore chain in a cash-and-stock deal, adding crucial scale to the grocer's pharmacy operations, according to Bob Miller, Albertsons chief executive. Walgreens is already in the process of acquiring about 2,000 Rite-Aid stores, while pharmacies in Albertsons locations will move to the Rite-Aid brand.
Red Lobster, Winn-Dixie and Publix have joined the movement among restaurants and grocers to convey to consumers that its seafood is responsibly produced, with Red Lobster using a Super Bowl ad to bring attention to the move. "A lot of companies want to do the right thing, but you have to develop a supply chain that's completely different from the one that exists right now," said Steve Kirn of the University of Florida's Miller Retail Center.
Magical unicorn has become the first new shape in ten years to gain a permanent spot in the Lucky Charms marshmallow lineup. The shape was picked by popular vote and is a permanent addition to the cereal, replacing the hourglass shape.
Samsung will reduce its production of OLED displays amid low demand for Apple's iPhone X. The company initially planned to produce 45 million to 50 million screens in the first quarter of 2018 but has cut that number to 20 million or fewer.
SuperAwesome reached profitability in the fourth quarter of 2017 and is expected to grow by 100% this year, per company data. The kid-centric technology producer believes much of its growth is driven by the fact that children continue to abandon watching TV in favor of online entertainment.
Shiseido has unveiled a project dubbed Cosmetic Press that will release limited-time cosmetics offerings in rapid succession to keep pace with the fast-changing beauty market. Ice Cream Parlour Cosmetics will be the first brand to be released and will feature products including base and eye shadows in 19 colors.