Video app TikTok leans into e-commerce with Shopify deal
The popular short-form video app TikTok, still under U.S. government scrutiny for its Chinese ownership, is moving closer to becoming a marketplace for buying stuff. Canadian e-commerce platform Shopify said Tuesday it's made a deal with TikTok enabling merchants to create โshoppableโ video ads that drive customers to online stores. The partnership was announced Tuesday amid stalled negotiations for Walmart to buy a 7.5% stake in the video app. Then, video ads will be automatically generated that could show up in a TikTok userโs video feed and drive customers to Shopify for checkout. Walmart and Shopify are on good terms, having teamed up against Amazon in June on a deal that enables Shopifyโs small businesses to get listed on Walmart.com.
As you shop for the apocalypse, stores are paying a price
Americans grabbing groceries and fixing up their homes during the coronavirus pandemic have propped up top retailers' sales. That is costlier for them than if shoppers buy in stores because companies have to pay for logistics and delivery fees. To be sure, the higher sales retailers are experiencing as people stock up on groceries and other essential goods could help alleviate the pressure. This should drive continued sales growth and help leverage the higher costs." Target said Wednesday that sales at stores open for at least one year grew 10.8% during the quarter compared with the same period last year.
Walmart CEO says weโre in the โhair colorโ phase of panic buying
Now hair clippers and hair dye are flying off shelves. "You can definitely see that as people have stayed home, their focus shifted," Walmart CEO Doug McMillon said on the Today Show, Friday. Now, sales are showing that โ without the ability to venture to a hair salon โ folks are getting shaggy. Panic buying begat even more panic buying, and the run on bathroom tissue sent ripple effects through the supply chain. Sales of hair clippers increased 166% and hair coloring products rose 23%, from the same period a year earlier, according to Nielsen.
Walmart wants to hire 150,000 temporary workers as the coronavirus pandemic continues
Walmart, the largest private employer in the United States, plans to hire 150,000 temporary workers by the end of May as the coronavirus pandemic continues to sweep through the country. The company said it is hiring the associates to work in stores, clubs, distribution centers and fulfillment centers. "These roles will be temporary at first, but many will convert to permanent roles over time," Walmart said in a press release. "We've reached out to industry groups representing restaurants and hospitality to facilitate temporary roles that can be a bridge for their employees during this difficult time." But the coronavirus is pushing the company to bring on new workers to help meet the crush of demand.