Frustrated by extra credit card fees when you shop?
A pair of bipartisan bills in Congress aim to lower the swipe fees, also known as interchange fees, that retailers pay every time a customer makes a purchase with their card. The effort is backed by retail giants including Walmart, (WMT) Target (TGT), and Kroger (KR), as well as convenience stores and independent grocers.
“Swipe fees for credit cards are higher in the United States than anywhere else in the industrialized world — more than seven times as high as Europe,” a coalition of businesses wrote in a letter to lawmakers last week. “They are an inflation multiplier.”
Expect to see more bright-red “Rollback” signs at Walmart stores as inflation bites, the company said Thursday.
Rollbacks, or temporary price reductions on an item, are Walmart’s version of a sale. Walmart decides which products to drop prices on based on factors like discounts it receives from suppliers or excess inventory.
Walmart had more products on rollbacks last quarter compared to the previous one — and the company will continue adding them to highlight value prices for shoppers. Why every Costco product is called ‘Kirkland Signature’
“We use rollbacks to communicate not only the reality of prices are coming down at some places, but the emotion or perception we want customers to have about us,” Walmart CEO Doug McMillon said on a post-earnings conference call with analysts.
Cryptocurrency Litecoin saw a sudden surge in price on Monday over a press release about Walmart accepting it for payment – which turned out to be fake.
The release, published through a legitimate press channel, claimed that Walmart would accept the currency through all its digital stores.
Walmart later told US media outlets the announcement was “inauthentic”.
By that time, several major news websites and press agencies had spread the supposed news.
Walmart is attempting to solve one of the biggest pain-points of online shopping — the dreaded return — with a new service.
The retailer announced Monday that it will pick up items shipped and sold by Walmart.com from customers’ homes through a new partnership with FedEx (FDX). Walmart said the “incredibly convenient” option is free and will remain in place beyond the busy holiday shopping season.
To use the new service, called “Carrier Pickup by FedEx,” customers have the initiate return process on Walmart’s website or app, schedule a date for pickup and print a label. Then it will be picked up by a FedEx employee.
Volumes of future marketing analysis will surely be written about this year’s unprecedented holiday shopping season, but for now we’ll have to make do with industry reports that reveal people’s pandemic-era spending habits in dribs and drabs.
The latest drib (or drab?) comes from analytics firm Sensor Tower, whose new dispatch shows a record surge in new downloads of shopping-related mobile apps. Black Friday alone saw more than 2.8 million first-time installs of shopping apps, the largest ever in a single day, according to Sensor Tower’s preliminary estimates. Year-over-year growth, the report says, was about the same as last year at 8%, but it was more substantial when you look at the entire month of November—with 59.2 million shopping app installs compared to 51.7 million for the same period last year.
March 20 (UPI) — Something far more unusual than shortages happened in the toilet paper aisle of a Missouri Walmart store — a customer gave birth.
Jessica Hinkle, store manager at the Walmart store on Sunshine Street in Spingfield, said the woman’s water broke in the toilet paper aisle of the store Wednesday and the expectant mother warned employees her last child had been born after only 30 minutes of labor.
Walmart is being sued for selling questionable alternative remedies.
The Center for Inquiry (CFI), a nonprofit dedicated to ensuring that “pseudoscience is prevented from harming society,” filed a complaint Monday on behalf of residents in Washington, D.C., against the giant retailer. The organization claims the superstore deliberately “creates a false and misleading impression in customers regarding homeopathic products, presenting them as an equal alternative to science and evidence-based medication.”
Source: Walmart sued for sale of “nonsense” homeopathic remedies
Two weeks ago, Walmart asked the Trump administration to walk back its plan to put tariffs on Christmas lights, shampoo, dog food, luggage, mattresses, handbags, backpacks, vacuum cleaners, bicycles, cooking grills, cable cords and air conditioners.
In a letter to US Trade Representative Robert Lighthizer, the company said expanded tariffs on Chinese imports would hurt its customers, its suppliers and the US economy.
In April 2013, when the Rana Plaza building in Bangladesh crumbled and killed more than a thousand garment workers, Western clothing executives were chastened. They were the ones, after all, who’d been pressuring Bangladesh’s apparel factories to cheaply reproduce runway trends for consumers in the U.S. and Europe who’d grown used to $10 dresses. Following the accident, H&M, Zara, Walmart, Gap, and other major brands announced they’d fund and oversee factory inspections in Bangladesh, demanding improvements from facilities that fell short and cutting off business with those that didn’t get better. Bangladesh, with the help of the United Nations’ International Labour Organization (ILO), created its own inspection program and vowed to shut down unsafe facilities. Better vigilance, everyone figured, would be central to preventing similar accidents from happening again.
World’s largest retailer Walmart is joining forces with the three biggest bottled water suppliers in the U.S. to provide enough water to last 10,000 public schoolkids in Flint, Mich. the remainder of the calendar year.
In partnership with Pepsi , Coca-Cola KO and Nestle , the big-box giant will deliver 6.5 million bottles of water, or 176 truckloads a day, to the crisis-stricken city, where all children under the age of 6 were exposed to toxic, lead-tainted water that may cause life-long damage.