When asked why inflation has been so low for the past decade, Federal Reserve Chairman Jerome Powell had an interesting answer: the Amazon effect. “It’s a global phenomenon. We don’t perfectly understand it. Since the [financial] crisis, a big factor that has been weighing down...
Amazon is reportedly gearing up to open more cashless brick-and-mortar convenience stores dubbed Amazon Go. Recode, citing multiple people familiar with Amazon’s plans, reported news that the eCommerce giant is planning to open as many as six new Amazon Go locations in 2018. Some are...
Another perk for Amazon Prime members: Daily deals site Woot! announced that it is offering free shipping on purchases from its site to all Prime subscribers. Founded in 2004 and acquired by Amazon in 2010 for $110 million, Woot! started out with a “one deal...
Authors using Amazon’s self-publishing service have more on their minds than selling books: Reports have surfaced that some have become the target of cybercriminals. Brian Krebs of KrebsOnSecurity explained how the thieves have stolen authors’ identities and used them to launder money: Hackers upload fake...
While most retailers are worried about going up against Amazon, Home Depot isn’t one of them. In fact, its CFO believes it has barriers to protect it against the eCommerce giant. In an interview with TheStreet, Home Depot’s CFO Carol Tomé said that she believes...
Amazon has launched an exclusive line of over-the-counter health products that is sure to challenge pharmacy retail chain’s bottom lines. CNBC reported that the Basic Care line was quietly launched in August and includes 60 health items that range from over-the-counter medications to hygiene products. While...
Prime customers carrying the Amazon Prime Rewards Visa Signature credit cards have a shiny new perk coming their way — the card will now net them the same 5 percent cash back at Whole Foods that it currently captures on Amazon.com. The move follows a series of...
As Amazon seeks to take on Flipkart in India, the eCommerce retailer is looking to offer more private label products. The news comes as Flipkart has also sought to focus on its own house brands, Livemint reported. Amazon India Vice President Manish Tiwary said the company is...
Amazon is reportedly engaged in a round of layoffs after combining Amazon Prime Now and AmazonFresh. According to a report in Yahoo! Finance, the layoffs are taking place in the company’s Seattle, Washington headquarters. By merging the two services, Yahoo! Finance reported it could streamline...
