In this file:
· Walmart appears to be gaining ground against Amazon
· Walmart Expands Money Transfer Services To All US Stores
· McDonald’s ousted CEO Steve Easterbrook steps down from Walmart board
Walmart appears to be gaining ground against Amazon
o The frequency of people buying items on Amazon six times or more per month has dropped to 40% this year from 80% in 2017, according to data pulled by First Insight.
o It says Walmart appears to be winning more customers.
Lauren Thomas, CNBC
Nov 4 2019
Less shopping is happening on Amazon, and consumers are favoring Walmart, according to a new survey.
The frequency of people buying items on Amazon six times or more per month has dropped to 40% this year from 80% in 2017, according to surveys by First Insight, a retail analytics firm that collects data to help retailers such as Dick’s Sporting Goods, Crocs and Kohl’s make product decisions.
First Insight conducted three consumer surveys of about 1,000 people each in December 2017, September 2018 and last September to compile the results. They included shoppers with and without a Prime membership.
A majority this year, 55%, said they prefer to shop at Walmart versus Amazon, up from about 47% a year earlier. The percentage of people who favor Amazon has dropped to 45% from about 53% in 2018.
“The excitement of the Amazon box coming to your house is kind of dwindling off,” First Insight CEO Greg Petro said in an interview. “I think the novelty of Amazon is wearing off.”
Amazon has disclosed it has more than 100 million Prime members worldwide. But according to First Insight, signups are dropping. The firm said it found 52% of survey respondents were members in 2019, down from 59% a year earlier.
The survey’s findings could be a sign that Walmart’s e-commerce investments are paying off, and Amazon still has its work cut out for it. Both companies have been in a battle over delivery.
Amazon announced plans last month to start delivering grocery products for free within a two-hour window to all Prime members living in the 2,000 regions eligible for the service. Until then, Prime members had to pay an additional $14.99 per month to get access to Amazon Fresh, a separate program that offered two-hour grocery delivery.
With the company spending billions of dollars to expand its free one-day delivery program, Amazon’s third-quarter earnings report last month fell short of analysts’ expectations.
Walmart, meanwhile, has begun testing delivering groceries directly to customers’ refrigerators in three cities. Its InHome grocery delivery membership program costs $19.95 a month. And making the most of its bricks-and-mortar stores, it has more than 2,700 grocery pickup locations for online orders across the U.S.
Walmart’s profits in the latest quarter topped Wall Street estimates, and the company said e-commerce sales surged 37%.
″[Walmart’s] speed is allowing them to leapfrog and get hyper-competitive with Amazon in a short period of time,” First Insight’s Petro said.
The true test could come this holiday season...
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Walmart Expands Money Transfer Services To All US Stores
November 4, 2019
Walmart is expanding its flat-fee money transfer services to include an international money transfer marketplace serving all 4,700 U.S. Walmart stores, the company said in a press release on Monday (Nov. 4).
“When we launched Walmart2Walmart and Walmart2World, our goal was to create a platform with money transfer principals that enabled customers to have more choice when transferring money to friends and family around the country and the world,” said Wilbert Noronha, vice president, financial services, Walmart U.S.
In collaboration with its money transfer principals MoneyGram and Ria, Walmart will offer customers more choices for payout methods and locations as well as competitive foreign exchange rates.
“MoneyGram and Walmart have worked closely together for over two decades and have innovated to provide the world’s leading money transfer service for consumers in the United States,” said MoneyGram Chief Executive Officer Alex Holmes. “Walmart’s vision of creating a marketplace for financial services will benefit consumers through pricing and payout options, and we believe that our leading brand and competitive foreign exchange rates will help drive the future success of the marketplace.”
Walmart estimates that customers who have used Walmart2Walmart and Walmart2World saved an estimated $1 billion in fees since 2014.
“We are excited Walmart has chosen to expand its relationship with Ria in their mission to provide customers more choice and the most economical and transparent services at the best price,” said Juan Bianchi, chief executive officer of Euronet’s Money Transfer Segment. “This expanded product offering reflects our great relationship with Walmart and our joint mission to offer customers more choice at a better value when sending money abroad.”
Daniel Eckert, senior vice president of Walmart Services and Digital Acceleration, told PYMNTS in a recent interview that...
McDonald’s ousted CEO Steve Easterbrook steps down from Walmart board
· Former McDonald’s CEO Steve Easterbrook resigns from the board of Walmart, effective immediately, according to a Securities and Exchange Commission filing.
· Easterbrook’s decision to resign was not due to any disagreement with Walmart, the filing says.
· McDonald’s board ousted Easterbrook on Friday after he violated company policy by having a consensual relationship with an employee.
Amelia Lucas, CNBC
Nov 5, 2019
Ousted McDonald’s CEO Steve Easterbrook has resigned from the board of Walmart, effective immediately, according to a Securities and Exchange Commission filing on Tuesday.
Easterbrook’s decision to resign was not due to any disagreement with Walmart, the retailer said in the filing. He had been on Walmart’s board since 2018 and served on committees related to compensation, management development, strategic planning and finance.
His resignation from Walmart’s board on Monday came as McDonald’s said it was barring Easterbrook from working for one of its competitors for the next two years as part of his separation agreement. Those companies include Chick-fil-A, Yum Brands, Coca-Cola’s Costa, and convenience store chains Wawa and 7-Eleven.
McDonald’s board voted to oust Easterbrook on Friday, accusing him of violating company policy by having a consensual relationship with an employee...