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Amazon Expands “Buy with Prime”
Amazon.com will open its “Buy with Prime” offering to U.S.-based merchants by the end of January 2023. The service allows online merchants outside of Amazon’s platform to access the company’s payment and delivery services.
The expansion comes as an effort to compete with Shopify Inc, which first allowed merchants to use Shopify Pay directly from their own websites. From data collected by testers of the Amazon’s service concluded the product increased shopper conversion rates by an average of 25%.
Walmart Eliminates Single-Use Bags in Some States
Walmart will eliminate single-use carryout bags at registers in New York, Connecticut, and Colorado. Instead, shoppers are encouraged to bring their own bags or may purchase reusable bags at the register for 74 cents each.
The change is an effort for Walmart to get ahead of legislation cracking down on single-use plastics and listen to the demands of its customers. The retail chain outlined corporate environmental goals to move to zero waste by 2025 in its U.S. operations.
Deloitte Reports on Increased Prices at Retail Stores
Deloitte released a survey of retail executives on their expectations for price increases in stores. As retailer expenses increased over the past three years, executives needed to continue increasing their own prices.
However, the Deloitte study found those executives expect consumers to purchase less in 2023. As a result, they do not expect to alleviate their own costs by increasing prices in-store. According to the study, two-thirds of executives surveyed expect price to be more important than customer loyalty for retail chains.
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