What's the best day of the week for online shopping discounts?

For online shoppers, Friday is the best day to score a discount, report finds.

September 13, 2024

📢 Hello, Retailist Roundup readers! As we wrap up the week and head into the weekend, let’s dive into the latest exciting developments in retail and e-commerce. This week’s roundup is filled with the latest in the finance world, from market trends and economic insights to emerging investment opportunities and regulatory updates.

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In the news: Top headlines this week

US businesses' optimism in China falls to record low, survey shows. U.S. businesses' confidence in China has hit a record low, with only 47% optimistic about their five-year outlook, according to a survey by the American Chamber of Commerce in Shanghai. This marks a five-point drop from last year and the lowest level since the survey began in 1999. Contributing factors include political tensions, China's slowing economic growth, and intense domestic competition. Additionally, only 66% of firms reported being profitable in 2023, another record low. [Reuters]

Keurig Fined by SEC Over Saying Its Pods Are Recyclable. The U.S. Securities and Exchange Commission (SEC) fined Keurig Dr Pepper Inc. $1.5 million for misleading the public about the recyclability of its K-Cup pods. The company falsely claimed in its 2019 and 2020 reports that the pods were recyclable, despite warnings from major U.S. recycling companies expressing concerns about the feasibility of recycling them curbside. Keurig did not disclose these concerns, leading to the SEC's charges for providing inaccurate information to the public. [Retail Wire]

After shuttering stores at home, Bed Bath & Beyond is going global. Beyond Inc. is adopting a licensing strategy similar to Authentic Brands Group's approach, aiming to revitalize the Bed Bath & Beyond brand by leveraging its brand equity while transferring operational risks to other entities. According to Executive Chairman Marcus Lemonis, the focus will be on offering affordable, quality goods both in physical stores and online. Additionally, Beyond Inc. has monetized its intellectual property by selling the Wamsutta brand for $10.25 million, recouping about half of the $21.5 million paid for Bed Bath & Beyond’s assets last year. [Retail Dive]

For online shoppers, Friday is the best day to score a discount, report finds. Coupons have evolved from traditional Sunday circulars to include online codes, browser extensions, and money-saving apps, offering consumers more ways to find discounts. A recent study by SimplyCodes reveals that Friday is the best day for online savings, based on coupon release patterns from 30,000 merchants. The study also noted a significant increase in coupon activity, particularly for women’s clothing, skincare, and alcohol, as payday approaches. [CNBC]

GameStop eyes more store closures as sales fall 31%. GameStop reported a profit for the second quarter, but its revenue fell short of both Wedbush's and broader consensus estimates. Wedbush noted that GameStop raised over $3 billion through recent share offerings. Despite the company’s ability to manage operating losses, Wedbush analysts, led by Michael Pachter, suggested that GameStop might consider closing all its stores and operating more like a bank. The firm criticized the company's lack of a replacement strategy for its accelerated store closures, implying that management might be prioritizing other interests over shareholder concerns. [Retail Dive]

Amazon Fresh gets new private brand, expanded Prime savings. Amazon has launched a new budget-friendly private label line called Amazon Saver, which includes essentials like crackers, cookies, and condiments, most priced under $5. Prime members receive an extra 10% discount. The brand will initially offer a selection of products with plans to expand by adding over 100 more items. Additionally, Amazon has increased Prime savings on over 3,000 grocery items available both in-store and online at Amazon Fresh. [Retail Dive]

Costco Recall: These 2 Products Should Be Returned ASAP. Costco has issued a recall on two popular products: Rock River Cattle Co. Smokey Hibachi Skirt Steaks and Kodiak Power Waffles. Although no adverse reactions or injuries have been reported, customers are urged to return the products for a full refund and advised not to consume them. The affected items are available in certain U.S. warehouses. [Retail Wire]

Job Board: This week’s Top Openings in DTC, RetailTech, and more

Want to submit a role to our talent board? Email [email protected].

  • Executive Business Partner (Seattle, WA) Remitly - more here

  • Director, Corporate Communications (New York, NY) Peloton - more here

  • Employee Relations Business Partner (Tampa, FL)

    ID.me- more here 

  • District Manager - Des Moines, IA (Hiring Remotely in Des Moines, IA) Grocery TV- more here

  • Asset Protection Partner (Hagerstown, MD) Green Thumb - more here

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