Benzinga - by Mohit Manghnani, Benzinga Editor.
Today's top stories concerning Costco Wholesale Corporation (NASDAQ: COST) highlight the intensifying competition the retail giant faces from Target, Amazon, and Walmart in various sectors, from groceries to online shopping.
Grocery Dive on Target:
Target Corp (NYSE: TGT) is spicing up its fall offerings with a range of apple and pumpkin-flavored products, such as apple pie-filled cookies and apple cider donuts.
Last autumn, Target's cookie sales were so robust that they could have supplied every attendee of the 2023 Super Bowl with 85 boxes each.
The retailer's food and beverage sector has been a strong performer, registering growth in the high single digits and boosting foot traffic.
This development could be a competitive hurdle for Costco, as Target's private label and exclusive products continue to fuel its grocery sales, Grocery Dive reports.
Business Wire on Amazon:
Amazon Inc (NASDAQ: AMZN) is stepping up its game by integrating the "Buy with Prime" app into Shopify's (NYSE: SHOP) platform.
The app, slated to be available to all U.S. Shopify merchants by this month's end, will streamline the merchant experience by leveraging existing Shopify configurations.
It will allow for seamless syncing of orders, promotions, catalog listings, and taxes.
This move could pose a competitive threat to Costco, as it allows Amazon Prime members to reap the benefits of their membership while shopping from Shopify stores. Read More.
Wenatchee World on Walmart:
Walmart (NYSE: WMT) is heating up the frozen food aisle with exclusive culinary creations from celebrity chefs Gordon Ramsay and Guy Fieri.
This initiative aligns with Walmart's strategy of collaborating with high-profile personalities to lure customers into its stores and onto its website.
The exclusive "Flavortown" line by Guy Fieri, along with Gordon Ramsay's offerings, gives Walmart a unique edge in the frozen food sector. Amid the current economic landscape, Walmart, like Target and Costco, has seen a surge in grocery sales as discretionary spending wanes.
Walmart aims to leverage its grocery business to encourage purchases of higher-margin items.
Disclaimer: This article was developed with the aid of artificial intelligence and Ultima Insights and underwent an editorial review.
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