Amazon, facing competition from cheap online retailers like Temu and Shein, is trying to lure the same customers by launching Amazon Haul. NBC News' senior business correspondent Christine Romans reports.
Big retailers’ fortunes are diverging as the holiday shopping season gets underway. Target missed the mark, while Walmart nailed it — a difference that partly comes down to bargain-hungry customers’ finicky appetites for nonessentials, analysts say. “The main takeaway here is that the American consumer is still being very value-conscious and increasingly shifting their dollars to Walmart from many other retailers, including Target,” said Brad Thomas, managing director at KeyBanc Capital Markets.
households’ concerns about inflation were easing, with 63% saying their finances were better than or about as they’d planned, up from 60% in the previous quarter. Still, many said they continued to worry about affording basics. “Heading to the grocery store was a bit daunting for consumers trying to make ends meet this quarter,” the TransUnion researchers wrote. There are signs that Target’s struggles may not reflect the retail industry overall.
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Amazon launches discount storefront Amazon Haul to compete with Shein, TemuAmazon has launched a low-cost online storefront featuring electronics, apparel and other products priced at under $20. It's part of the e-commerce giant's efforts to compete with discount retailers that have increasingly encroached on its turf.
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Amazon is reportedly working on a low-cost storefront to rival TemuAnna has been a freelance writer for more than a decade. In that time, she's covered everything from electronics to esports, from marketing to magic. Her tech and entertainment reporting has appeared on Ars Technica, Mashable, Digital Trends, and more. She especially loves playing, making, and geeking out over video games.
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