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Retail group calls for in-store mask mandate to go

by Retail

A retail lobby group says masks should no longer be mandatory in stores, but a health expert says New Zealand needs to toughen up on the policy or Kiwis risk getting sicker.

Orange traffic light rules continue to mandate face coverings in stores, but Retail NZ’s chief executive Greg Harford told 1News that the mask requirements were past their use-by date.

“The reality is that customers are over the mask rules. Fewer than a third of customers are wearing them around the country,” he said.

READ MORE: NZ still ‘lagging behind’ on opening up – Flight Centre boss

“Countries overseas have moved on – there’s no mask requirements in retail in places like Australia or the UK or the US.

“We need to start moving forward as well.”

Retailers say mask exemptions are easy to obtain and that WorkSafe has advised them to avoid engaging with customers who don’t want to mask up.

“Having a mandatory requirement that applies across the board, that’s not enforced, just doesn’t make any sense,” Harford said.

He said it was time to make retail mask use recommended – but optional.

READ MORE: Health system hit hard by winter illness, Covid numbers persist

But one leading health expert says the concerns for retailers are only part of the picture amid a pandemic.

Epidemiologist Professor Michael Baker.

Epidemiologist Professor Michael Baker.

Otago University epidemiologist Michael Baker said New Zealanders needed to mask up more, not less.

“We need a huge shift in thinking if we’re going to keep on top of this virus,” he said.

Baker said Omicron, and particularly its more infectious new sub-variants, were “very good” at escaping the immunity offered by both past infections and vaccines.

“So I think more than ever we need to rely on masks.”

He called on the government to produce a new national strategy on masking.

READ MORE: More than 150 experts plea for classroom masking over winter

Baker also said that higher-quality, affordable masks needed to be readily available, and that tighter masking rules were needed in schools.

Covid Response Minister Ayesha Verrall said mask-wearing remained “incredibly important” and that “current rules are helping keep pressure off the health system”.

Verrall said New Zealanders should “keep up good mask-wearing, as reinfection is still a possibility”.


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Jenelle Evans’ ex Kieffer Delp arrested for retail theft, criminal conspiracy

by Retail

Teen Mom 2 alum Jenelle Evans and her ex-boyfriend Kieffer Delp
Jenelle’s ex, Kieffer Delp, was arrested earlier this month. Pic credit: Jenelle Eason/YouTube and MTV

Teen Mom 2 alum Jenelle Evans’ ex-boyfriend Kieffer Delp has found himself in legal trouble once again.

It’s been years since Teen Mom 2 viewers were introduced to Kieffer during Jenelle’s time on the series. The former couple — notorious for their bad decisions, drug use, and run-ins with the law — dated from 2010 until 2012. They had an on-and-off romance for several years before ultimately ending their relationship in 2016.

Although Kieffer has been out of the public eye for several years, his name has turned up in headlines for various arrests.

Kieffer Delp, ex-boyfriend of Jenelle Evans arrested for retail theft, criminal conspiracy

No stranger to being arrested, Kieffer’s latest charge saw him picked up and charged with one count of misdemeanor theft and one count of criminal conspiracy. The arrest occurred on Saturday, June 11 in Allegheny County, Pennsylvania, where Delp resides.

Court records show that the charges were filed on June 16. According to In Touch Weekly, 32-year-old Delp’s conspiracy charge was ultimately dropped and it’s unclear whether or not Delp has entered a plea.

In 2018, Delp was arrested for operating a meth lab out of his former McKees Rock, Pennsylvania apartment. Several charges were listed and Delp offered to take a plea deal which included operating a methamphetamine lab and possession with intent to deliver, and risking a catastrophe. Delp’s plea deal meant he agreed to serve 18 to 36 months in a state correctional facility in Allegheny County, Pennsylvania.

kieffer delp's arrest records for retail theft and criminal conspiracy from the PA magisterial district court
Pic credit: The Unified Judicial System of Pennsylvania Web Portal

Kieffer was released in February 2020, only to be picked up again, this time for jumping bail for an outstanding warrant.

Jenelle and Kieffer’s relationship on Teen Mom 2

Teen Mom 2 viewers watched as Jenelle and Kieffer spiraled into heavy drug use and lived out of Jenelle’s car during their time together. All the while, the duo caused Jenelle’s mom, Barbara Evans, plenty of stress as she cared for Jenelle’s son Jace.

Following their split, Jenelle moved on with her now-husband David Eason. Jenelle and David wed in 2017 and share one biological child, their 5-year-old daughter, Ensley Jolie. Jenelle also shares her son, Jace, with her ex Andrew Lewis and her other son Kaiser with her ex-fiance Nathan Griffith.

Teen Mom: The Next Chapter is currently in production and will premiere in the near future, combining the casts of Teen Mom OG and 2.


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Retail workers union owns empty $1.9 million condo

by Retail

The powerful retail workers union headed by Amazon killer Stuart Appelbaum spent $1.9 million buying a luxury midtown condo that sits unoccupied.

A subsidiary of the Retail, Wholesale and Department Store Union plunked down the cash for the two-bedroom condo at 325 Fifth Ave. in 2017, city records show.

The 41-story building at 32nd Street includes a swimming pool, spa and screening room.

The purchase was made by the RWDSU Realty Corp., without any oversight from the union’s executive board, according to Ted Hunt, who heads a union local in Michigan and is seeking to oust Appelbaum as president.

“Somehow spending union money on a lavish lifestyle while we are losing members is somehow acceptable and condoned by the existing leadership. I am sure that our membership would find this lavish spending morally corrupt,” Hunt says on his SaveThe RWDSU website.

He told The Post that the board only approved the purchase after a former union official, Allen Mayne, alerted the federal Department of Labor, which opened a probe.

"Somehow spending union money on a lavish lifestyle while we are losing members is somehow acceptable," Ted Hunt complained.
“Somehow spending union money on a lavish lifestyle while we are losing members is somehow acceptable,” Ted Hunt complained.
savetherwdsu.com
The building includes a swimming pool, a spa, and a screening room.
The building includes a swimming pool, a spa, and a screening room.
Brian Zak/NY Post

Mayne, who had been director of collective bargaining, told The Post he was illegally terminated from the union and then reached a settlement agreement with it.

Appelbaum, in an April 2022 memo, said a “disgruntled former employee” made “baseless allegations” about the union’s operations that were investigated by the DOL. He said the agency found no wrongdoing and closed the case.

As proof, he enclosed a letter from the Cozen O’Connor law firm, which the union hired, saying the matter was closed.

“The Department of Labor has not provided any documentation saying they were cleared of anything,” Hunt disputed.

A Labor Department spokesman did not return a request for comment from The Post.

The union said the condo was purchased with proceeds from the sale of another property and was considered an investment.

Appelbaum has led the union since 1998.
Appelbaum has led the union since 1998.
Erik Thomas/NY Post

“The RWDSU has a long and successful history of growing union funds by smartly investing in real estate through the RWDSU Realty Corp,” Appelbaum said in a statement to The Post. “This arrangement put the union in its best financial shape ever and will enable the union to fund organizing efforts for years to come.”

A union spokeswoman said the apartment was used by out-of-town union officers and staff when they come to New York for business and had resulted in “significant savings” in hotel and meal costs.

The union’s expense for the apartment in yearly property taxes alone are $34,385, city records show.

Appelbaum, 69, a member of the Democratic National Committee, has headed the 50,000-member union since 1998.

He was considered instrumental in killing Amazon’s plan to open a second headquarters in Long Island City that would have created 25,000 jobs. Former Gov. Andrew Cuomo’s office blasted the RWDSU after the deal fell through in 2019, even though Appelbaum was one of Cuomo’s biggest supporters.

Hunt, 45, who works at a Post Foods plant in Battle Creek, Mich., said he wanted to bring more accountability to the union.


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ERC: UP, Meralco pact is pilot for power retail aggregation scheme

by Retail

ERC: UP, Meralco pact is pilot for electric retail aggregation scheme

Electricity wires | INQUIRER.net stock photo

MANILA, Philippines — The Energy Regulatory Commission (ERC) on Friday announced the start of its Retail Aggregation Program with an agreement between the University of the Philippines and Manila Electric Company (Meralco).

ERC chairperson Agnes Devanadera said the Retail Aggregation Rules, a memorandum of understanding between UP and Meralco, has been signed to establish the electric retail aggregation scheme in the campus setting.

The Retail Aggregation Program aims to combine and empower electric end-users of a particular area by allowing them to create aggregate accounts and pick their preferred power provider.

“We have just promulgated the Rules for the Electric Retail Aggregation Program which is another means of empowering consumers to exercise their freedom of choice,” Devanadera, who also acts as ERC chief executive officer, said in a statement.

“The Rules on Retail Aggregation took effect today as we celebrate the launch of the Pilot Implementation of Retail Aggregation,” she added.

The ERC explained that the Retail Aggregation Program or Retail Aggregation Rules is a set of standardized rules and procedures regarding the “aggregation of electricity requirements of end-users in the Competitive Retail Electricity Market (CREM).”

This, it added, would allow consumers in a cluster, for example, a subdivision, to form an aggregate group that would transact with electricity service providers — which then provides people situated in the aggregate areas with an option on which company they should tap for their power service.

This makes the market competitive as users do not have to rely on a single company to provide electricity for them, the ERC said.  For users, they can opt for electric services that may be lower than the current prices.

The ERC also explained that the Retail Aggregation Rules would apply to the following portions of the electric supply chain:

  • End-users
  • Retail Electricity Suppliers (RES)
  • Local Retail Electricity Suppliers (Local RES)
  • Distribution Utilities (DUs)
  • Suppliers of Last Resort (SOLR)
  • National Grid Corporation of the Philippines (NGCP)
  • Central Registration Body (CRB)
  • All other relevant industry participants, as applicable.

Meanwhile, the following areas may be qualified to be considered as aggregate groups:

  • Subdivisions
  • Villages
  • Business Districts
  • Special Economic Zones
  • Condominium buildings
  • Commercial establishments such as malls
  • Mixed-used development complexes
  • Such other geographical areas where similarly situated end-users are located in which supply of electricity can be measured through metering

The ERC said that as of April 22, there are 1,897 contestable consumers – or customers in areas where there may be more than one electricity provider. These 1,897 contestable consumers have a total electric supply-demand of 3,924.53 megawatts (MW).

“The Retail Aggregation Program is a scheme wherein two or more end-users or all end-users within a contiguous area joined together and are treated as a single Contestable Customer, based on the current threshold demand prescribed under the rules, wherein such Contestable Customer shall be part of the Contestable Market, and enjoy the benefits enjoyed by the Contestable Customers in the RCOA,” the ERC noted.

Devanadera thanked UP and Meralco for starting the initiative, which she believes would benefit customers who will now have options.

“The ERC would like to thank the UP and MERALCO for their initiative in making possible this pilot implementation. This pilot will help promote Retail Competition and Open Access,” she said.

“With their partnership, we hope that the electricity consumers will be more enlightened about the benefits of retail aggregation which ultimately is for the consumers to have the power to choose from among the electricity suppliers that offer better rates and better services,” she explained.

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Judge rules Gorillas dark store is not a ‘retail outlet’ and must close

by Retail

The Gorillas store ordered to close. Photo: S Boztas

A ‘dark store’ from the fast delivery company Gorillas in Amsterdam’s De Pijp district has been ordered to close or face a €20,000 fine.

It is the second warehouse for speedy delivery to fail to overturn a city order in court in recent months, as local councils freeze new store openings and reconsider future planning rules.

In the last two years, a stream of companies have opened offering deliveries of everything from alcohol to biscuits ‘at your door in minutes’. Customers order through an app on their mobile and (electric) cyclists speed through the city to take the goods from storeroom to sofa as quickly as possible.

But cities like Amsterdam – where competing start-ups Getir, Zapp, Flink and Gorillas vie for market share – have also seen a tidal wave of complaints from residents living near the warehouses. They have been dubbed ‘dark stores’ since the windows are typically blacked out and they are not open to customers to walk in and pick something off the shelves.

Complaints

Amsterdam has received 906 complaints since January 2021, according to an answer to written questions, and this January ordered a freeze on any new dark store openings. Last month, the city proposed legislation to ban dark stores from residential and mixed-use areas, limiting them to business parks and industrial terrain.

Head of planning Marieke van Doorninck said: ‘The complaints and nuisance there is already shows that these branches cannot – or can scarcely – be combined with a liveable neighbourhood.’

In May the municipality ordered three stores of Getir, Zapp and Gorillas based in De Pijp to close, saying they did not comply with the zoning plan. The Zapp branch has gone, with news leaking that the firm is exiting the Dutch market. A court hearing for a Getir branch – which now allows customer pick-ups and claims it is a normal shop – is scheduled for July.

However a judge on Monday did not need the scheduled two weeks to issue a judgement on a Gorillas store on the Gerard Douplein, a stone’s throw from the busy Albert Cuypstraat market.

Bike outside the dark store ordered to close Photo: S Boztas

Nuisance

In a testy court hearing, Teun Blom, for Gorillas, argued that its warehouse should be considered ‘retail trade’, falling under the zoning plan, and claimed that the real problem the council was trying to solve was an excess of delivery bicycles.

‘The apparent problem is that the city is more full of delivery bicycles than before,’ he said. ‘If we look at the thought behind it, the nuisance from delivery bikes, it seems that this is one of the reasons to come to a decision and start enforcement on dark stores.’

He claimed that people who live in a busy neighbourhood cannot complain about nuisance from a new type of business. Blom also said that 92% of complaints about the particular store came from an upstairs neighbour, disturbed by the sounds of trolleys and vacuum cleaning – which a toy store would also cause. He said that Gorillas had ‘started to insulate the building to ensure noise nuisance is tackled’.

Reinier van Velden, head of legal affairs in the Netherlands for Gorillas, added that he felt emails to council heads were not answered. He also accused council wardens – without evidence – of trying to ‘falsify a report’.

Battle for the residential streets

Losses

Remco Sipman, acting for Amsterdam city council, said that the Gorillas warehouse did not fit the legal definitions of a ‘retail’ store, no permission had been requested to legalise it, and it was not the will of the council to do this anyway due to ‘public disorder’.

The judge – who at the hearing told Gorillas it was acting at its own risk in moving into a location without being sure it fitted the zoning plan – ruled that it is indeed in contravention of planning permission. He gave Gorillas until 12 midnight on Friday June 24 to clean up and stop operations.

On Saturday morning, most Gorillas bicycles were gone from outside the store and no delivery staff were visible, although there were lights on inside.

Dutch media have questioned whether the new verdict is the beginning of the end for the venture capital-funded fast delivery company sector, which has already announced job losses and is feeling pressure from investors to demonstrate that it can be profitable.

Reaction

Joost Munning, who collated a complaint from 115 local residents last November about nuisance related to dark stores in De Pijp, said some people were ‘delighted’ that a judge had upheld the municipal closure order.

‘The direct neighbours I spoke to are absolutely thrilled that they don’t have the noise any more of trucks loading and unloading, and no bicycles on the pavement,’ he said in an email. ‘Living next to the Zapp dark store [which has closed], I experience no more noise pollution. They don’t wake me up any more at six or seven in the morning. It is such a relief. It feels like we are getting our neighbourhood back.’

Dutch News has asked Bleinheim, the law firm for Gorillas, for a reaction.

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eCommerce platform inspires meaningful connections – Manila Bulletin

by eCommerce

There is an enormous increase in adoption of eCommerce across Southeast Asia. Shoppers now head to eCommerce platforms for exciting and entertaining content and seek out the latest fashion and beauty trending assortment. And since online shopping has integrated itself into consumers’ everyday lives, it is just befitting that Southeast Asia’s pioneer eCommerce platform, Lazada, announces its brand proposition Add to Cart. Add to Life along with the launch of LazLive+.

Add to Cart, Add to Life

The Add to Cart. Add to Life concept reflects the brand’s belief that eCommerce can add to the lives of consumers by inspiring meaningful connections and memorable experiences with their purchases.

“As Southeast Asians continue to add to cart, we want to be that bridge that connects our customers to opportunities that add to life. For us, it’s not just about buying a pan; it’s about owning a pan to add amazing flavors to a delicious meal for loved ones. Likewise, it’s not just about buying a skipping rope; it’s about adding fitness and health to one’s daily routine. Whether it’s a new hobby, honing a skill, creating a more comfortable home or a new look with a style makeover, every product on Lazada has the potential to be the launchpad for enhancing abilities and value-adding to our consumers’ lives,” said Marcus Chew, Chief Marketing Officer, Lazada Group.

LazLive+

In addition to the announcement of its brand concept is the launch of LazLive+, a curated interactive live content series that brings together recognizable, authentic and trusted experts to share fresh tips and skills with shoppers. LazLive+ will have 3 episodes featuring Solenn, Erwan, and Alodia from July 13 to 15 and will stream once a week every Wednesday at 7PM starting July 20 to September 14. Shoppers will get to interact real-time through the voting and chat functions with their favorite key opinion leaders. Coupled with exclusive deals and entertainment that Lazada brings to the fingertips, shoppers can also create more fulfilling moments, big and small, that will enrich their lives and those around them.

Marcus Chew shares, “LazLive+ will also be a great source of inspiration for shoppers with its unique blend of shoppertainment and shop-spiration content, that will enable consumers to discover and unlock new passions and possibilities in their lives, thanks to the experts.”

Lazada’s latest brand campaign will run across Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam starting today, with a 30-second film, out-of-home, a series of key visuals, influencer engagement, topical social media activation, and other creative executions.

 

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Health department announces May retail food inspections

by Retail

The Jackson County Health Department retail food establishment inspections for May 2022 recently were released.

Critical violations are defined as a provision of the Retail Food Establishment Sanitation Requirements, Title 410 IAC 7-24, that, if in noncompliance, is more likely than other violations to significantly contribute to food contamination, illness or environmental health hazard. Example: Hot food not being held at 135˚F or warmer, cold food not at 41˚F or below or food contact surfaces contaminated.

Noncritical violations are provisions of the Retail Food Establishment Sanitation Requirements, Title 410 IAC 7-24, that, if in noncompliance, is not likely to significantly contribute to food contamination, illness or environmental health hazards but are issues of concern. Examples: No hair restraints or mop being left in a mop bucket rather than being allowed to air dry.

Repeat violations are issued when a follow-up inspection finds that a previous issue has not been corrected and the establishment continues to be noncompliant and present a hazard.

Inspections

Brownstown Central Middle School, 620 W. Walnut St., Brownstown

No violations.

Brownstown Central High School, 500 N. Elm St., Brownstown

No violations

Brownstown Elementary School, 612 S. Base Road, Brownstown

No violations

Lutheran Central School, 415 N. Elm St., Brownstown

No violations

St. John’s Sauers Lutheran School, 1058 S. County Road 460E, Seymour

No violations

Medora Community Schools, 82 S. George St., Medora

No violations

Sandy Creek Christian Academy, 5707 N. Sandy Creek Drive, Seymour

No violations

Seymour Middle School, 920 N. O’Brien St., Seymour

No violations

St. Ambrose Catholic School, 301 S. Chestnut St., Seymour

No violations

Crothersville Community Schools, 109 N. Preston St., Crothersville

No violations

New Transform Healthy, 906 E. Tipton St., Seymour

No violations

Steak ‘n Shake: 1640 E. Tipton St., Seymour

2 critical violations (multiple food contact surfaces found heavily soiled, containers and utensils found heavily soiled)

12 noncritical (no hair restraints being used by any employee at start of inspection, shake containers not protected from potential contamination, spoons not stored with handles up, wash, rinse and sanitize procedures not being followed, bottom of refrigerators, shake machines and back splashes not being cleaned frequently enough to prevent the accumulation of food particles, containers not allowed to air dry before stacking together, air vents have an accumulation of mold-like substance, leaking faucet on three-bay sink, premises not cleaned frequent enough to prevent accumulation of dust and grease, exhaust hood in sandwich prep area needs serviced and cleaned, all unused materials needs to be removed or stored in an orderly manner).

Pizza Palace, 832 W. Tipton St., Seymour

2 critical violations (employees not washing hands regularly, open employee drink on prep table)

2 noncritical violations (freezer doors not closing properly, hair restraints must be worn)

Indiana Nutrición, 406 E. Second St., Seymour

1 noncritical violation (ice scoop handle in contact with ice)

Far Out Fitness and Health, 1171 W. Tipton St., Suite J, Seymour

No violations

Camp Pyoca, 886 E. County Road 100S, Brownstown

No violations

Pizza Hut, 1411 E. Tipton St., Seymour

3 noncritical violations (air vents by carryout sign need cleaned, vent hood has paint or sealant that is peeling or chipping, both exit doors must have the door sweeps adjusted or replaced)

San Marcos, 501 N. Ewing St., Seymour

2 critical (raw shrimp must be stored below 41 degrees (probed at 56 degrees), employees must wear gloves when handling ready-to-eat foods)

Old Buffet China, 1246 E. Tipton St., Seymour

1 critical (clean dishes found soiled)

2 noncritical (gap in rear entrance door, not allowing dishes to air dry before stacking)

Stag’s Mobile Kitchen, 526 Enos Road, Seymour

Approved for operations in Jackson County

Dairy Queen, 115 W. Commerce St., Brownstown

4 noncritical (liquid in the bottom of the topping cooler and soft serve machine, rear exit door not closed, flying insects are present in the ice cream area, nonfood areas need cleaned more frequently)

Papa John’s Pizza, 600 E. Tipton St., Seymour

No violations

Sno Biz Mobile, 1019½ E. Tipton St., Seymour

Approved for operations in Jackson County

Walmart Supercenter, 1600 E. Tipton St., Seymour

3 critical (multiple dented cans found throughout the isles, dried food particles found on slicer in deli area, multiple unlabeled chemical bottles found in the facility)

2 noncritical (handwashing sink in baking area had bucket lids stored in it, door sweep on emergency exit door needs repaired or replaced)

Caribbean Cuisine 509, 103 N. Chestnut St., Seymour

5 critical (eggs not held below 45 degrees, no date labels being used for precooked foods, all food prep surfaces found heavily soiled, dirty dishes piled up in mop sink, excessive evidence of pest activity observed in the facility)

9 noncritical (product not stored 6 inches off floor, dishes not washed on a regular basis, water collecting in bottom of reach-in cooler, drain leaking on three-bay sink, no paper towels at handwashing sink, buildup of food debris in handwashing sink, bare wood cannot be used as a prep surface, sleeping quarters are not permitted in a food establishment, all surfaces need cleaned more frequently)

Brenda’s Ice Cream No. 2, 112 W. Second St., Seymour

Approved for operations in Jackson County

Medora music festival

Inspected and permitted four temporary food booths: The Grill Wagon, Hungry Turtle, Tailgaters BBQ and Bell’s Phoenix Kitchenette

Knights of Columbus Frühlingsfest

Inspected and permitted nine temporary food booths: Lazy J’s Kettle Corn, Schwätzer’s German Restaurant, Bob and Kev’s BBQ, Miss Piggy’s Pork Shop, Sati Babi, Psi Iota Xi, Enter His Courts, Mr. Beefy’s and Knights of Columbus

Hen and Chicks Barn Market

Inspected and permitted seven temporary food booths: Little Angel Creations, Phi Beta Psi Theta Omega Chapter, Rosie Jean’s Sweet Tea and Jesus, Indy Annie’s Kettle Corn, Hoover’s Candy, Gypsy Moon and Cup of Joy

The link for the Jackson County Health Department website is jacksoncountyhealth.org.


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Copper River reds holding their own in retail prices

by Retail

Copper River sockeye salmon were holding their own in retail prices in mid-June, even as commercial harvesters in Western Alaska and Cook Inlet began their own deliveries of the red salmon to processors. Photo by Margaret Bauman for The Cordova Times

Copper River red salmon continued to hold their own in retail prices in mid-June as the Copper River District continued to deliver robust catches to processors and more commercial salmon harvesters in the Alaska Peninsula, the Kodiak area and Cook Inlet added deliveries of thousands of fish.

By Tuesday, June 21, the Alaska Department of Fish and Game’s preliminary 6,214 deliveries of 1,060,395 salmon, led by the Copper River District drift gillnetters with 2,736 deliveries of some 349,875 fish, including 340,565 sockeyes, 10,437 Chinook, 8,914 chum, 3 coho and two pink salmon.

Coghill district drift gillnetters showed 2,129 deliveries of 313,303 fish, including 293,299 chum, 19,712 sockeyes and 292 Chinook salmon.

The statewide preliminary harvest total was calculated by ADF&G biologists at upwards of 4.7 million fish, including 3.2 million sockeyes, 921,000 chum, 561,000 pink, 47,000 Chinook and 1,000 coho.

Demand for the Copper River salmon, when available, was fetching $29.99 a pound at the Pike Place Fish Market in Seattle and $13.99 a pound at Costco stores and 10th & M Seafoods in Anchorage.

Fishmongers at Fred Meyer supermarkets said they would not be receiving any more Copper River reds and were selling fresh fillets of other wild Alaska sockeyes for a lower price.

Fishermen in the South Alaska Peninsula showed deliveries of 3.1 million fish, including 2,357,000 sockeyes, 554,000 pink, 206,000 chum and 1,000 Chinooks, while the North Alaska Peninsula had a catch of some 5,000 red salmon,

Kodiak fishermen had deliveries of 304,000 fish, led by 250,000 sockeyes, plus 45,000 chum, 7,000 pink and 1,000 coho salmon.

In Cook Inlet the central district had deliveries of some 5,000 sockeyes and the northern district brought in another 2,000 red salmon.


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Amazon FBA Financing Guide

by eCommerce

Opinions expressed by Entrepreneur contributors are their own.

Whether you’re an early-stage ecommerce startup, a thriving online business or an established brand, transitioning to the next level requires capital. You might need seed funding to get your business up and running — setting up sourcing channels, researching the right niche, finalizing packaging and more.

You might be scaling fast and need funds to order inventory — avoiding stock-outs and competing with rival sellers. Expansion into other marketplaces and geographies requires additional capital, too.

You may also need urgent capital to address a key strategic direction (rebranding, product line expansion or growing your supplier base). Building good relationships with lenders, as well as your suppliers, is crucial to getting favorable terms for years down the line, boosting your growth as a new seller.

Related: What Is Amazon FBA? Guide to a Fulfillment by Amazon Business

Before you go for financing, take time to decide why exactly you’re looking for funds: What are your business goals? Where will you spend the funds? Do you have a concrete business plan? Are you comfortable with the payback terms? Estimate exactly how much you need, and don’t get tempted to borrow more than that.

The businesses that we’ve successfully grown and positioned for a profitable exit, chose one of the following funding options to take their FBA businesses to the next level:

1. Amazon lending

One of the simplest funding options for new FBA businesses with excellent customer reviews, no complaints in the last 6 months and total sales of at least $10,000 in the last year, is Amazon’s own lending service. Sellers can apply for term loans ranging from $1,000 to $750,000 with interest rates from 3% to 16%.

Amazon also has a line-of-credit option available, in partnership with Marcus by Goldman Sachs, wherein sellers pay interest only on the funds utilized. This, however, is relatively expensive with interest rates going up to 21%.

While you get quick approvals (from 1 to 5 days), there are a few cons as well. The term loans have a short-term payback schedule. Hence, monthly payments are high, regardless of your sales. Moreover, the funds can be used only for restocking Amazon inventory. In contrast, line-of-credit funds can be used for other needs including staffing and advertising.

Related: 3 Things to Consider Before Owning an Amazon FBA Business

2. Fintech lending

A host of new-age, technology-powered companies are enabling fast and convenient financing for growing FBA businesses, having consistent cash flow with impeccable financial performance. Vendors like Payability and Sellers Funding offer quick funding up to $250,000, based on your monthly revenue, if you have at least $5,000-$10,000 in monthly sales.

One-of-a-kind funding option, AccrueMe offers up to $1 million in funding to sellers with at least a 6-month track record — with no interest, no monthly payments and no loss of ownership for the seller. As Don Henig, co-founder of AccrueMe, rightly puts the need for financing:

“The beauty of being an FBA seller is that once you have established a profitable product, you have almost unlimited profit opportunity because of Amazon’s market reach. The only limit is a seller’s capital. The sooner a seller can secure and deploy necessary capital, the sooner they can protect and expand their market share and profitability. Delay in deploying capital, just cedes the profit potential to competitors. That is why it’s so important to prioritize access to capital.”

3. Business term loans from alternative lenders

Term loans have been a staple of traditional banks for decades. But alternative lenders and fintech companies have also started offering term loans to ecommerce businesses. These loans are suitable for large and established FBA businesses in the later stages of their lifecycle.

As revenue numbers and credit history are taken into account, these term loans are difficult to secure for early-stage businesses.

Related: Term Loans vs. Lines of Credit: Which One Is Right for Your Business?

4. Merchant Cash Advances (MCAs)

Now, even new ecommerce businesses can take advantage of MCAs to borrow up to $500,000 and pay the funds back based on a fixed percentage of daily or weekly sales, depending on the agreed-upon interest rate or factor rate (ranging from 1.1 to 1.5).

MCAs are a good fit for new businesses having relatively low credit scores and lacking decent cash flow (at least $10,000 monthly revenue). Approvals are quick (often within a few hours), with minimal documentation, and there are rarely any credit checks or collateral requirements.

However, you need to be wary of the high-interest rates (up to 25%-30% APR) compared to other options and the shorter payback period leading to higher repayments.

5. Peer-to-peer lending

You can secure funding directly from investors who like your business and are confident in your credit and sales history. This works well if you’re operating in a niche industry or have a unique product.

This funding option is much more flexible compared to term loans and MCAs, as credit score is not the only criterion used for judging your business. But approval times are longer, and the interest rates can go up to 9-10%. Moreover, things like credit checks, financial records and detailed business plans are must-haves.

6. Brand accelerators

Ecommerce brand accelerators are experts armed with strategic and technological know-how to grow the valuation of your business. When you partner with a brand accelerator, industry experts analyze the ins and outs of your business and develop a unique growth plan for scaling it to new heights.

They don’t bill you for their services until your valuation actually sees a jump, and they’ll then charge you a small percentage of that increase in valuation. This makes brand accelerators an economical option to fund your ecommerce growth.

Your financing journey should begin with crystal clear goals about how you’ll put the funds to use. FBA financing can provide you with a launchpad to break through to the next stage of your business and scale it the way you want.

Lastly, don’t think about debt as a bad thing on your balance sheet. Money attracts money, and financing is essential to making that happen.


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Retail deals undermined by end of cheap money | Business

by Retail

Finance markets were red hot last year and the billionaire Issa brothers were able to fund their audacious takeover of Asda easily with a record breaking £2.25 billion sterling junk bond.

However, their debt binge, which has left Asda paying £375 million a year in interest, has been blamed for mopping up all of the market’s appetite and dampening investor demand for any more retail deals.

What’s worse for those whose merger and acquisition plans follow in the wake of the Issas is that Asda’s bonds are now trading below par due to intense market volatility, a worsening retail environment and the threat of further interest rate rises. As a result investors have become even more unwilling to back fresh funding, causing dealmaking to dry


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Future Retail’s objections to resolution professional misplaced: Bank of India counsel

by Retail

A counsel for Bank of India (BoI) has termed Future Retail’s (FRL) objections against appointing Deloitte’s resolution professional (RP) for the latter’s insolvency proceedings as “misplaced and based on incorrect information”.

Insolvency firm Deloitte India Insolvency Professionals (DIIP) is separate and different from the auditor firm Deloitte Haskins and Sells (DHS) and these are completely independent and separate entities. The RP is a partner of DIIP and has not been a partner of DHS for the last 10 years, BoI counsel Ravi Kadam informed the National Company Law Tribunal (NCLT) during the course of the hearing on Friday.

Further, there are no common partners among these two entities and DHS had not audited Future Retail in the past 10 years, the BoI counsel, informed the tribunal, quoting a declaration filed by the RP.

Terming the objection to the appointment of RP as “misplaced and based on incorrect information”, Kadam said DIIP is an insolvency professional entity, registered with the Insolvency and Bankruptcy Board of India, and works on assignments assisting insolvency professionals.

The argument came after FRL, a part of the beleaguered Future Group, had on Tuesday sought changing the proposed RP, citing “conflict of interest”. The proposed RP — backed by Deloitte India — is also an auditor to certain other Future Group companies, hence a new RP should be appointed, FRL counsel Shyam Kapadia had told the tribunal.

In April, FRL’s lenders led by BoI had selected Vijaykumar V Iyer as the RP.
The tribunal’s Mumbai bench will continue to hear the petition filed by US retail major Amazon opposing BoI’s insolvency petition against FRL, on Monday.

In May, Amazon had filed an application after BoI moved the bankruptcy court seeking to initiate a resolution process against FRL. Amazon is opposing the initiation of insolvency proceedings, alleging the banks had colluded with FRL and that bankruptcy proceedings at this stage will compromise its rights.




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Despite opposition, commissioners approve storage unit, retail space

by Retail

Despite opposition, commissioners approve storage unit, retail space

Two developments in the area of Highway 16 and Old Highway 85 near Senoia were approved by the Coweta County Board of Commissioners despite opposition from the public.

In the face of opposition from members of the public, the Coweta County Board of Commissioners approved two commercial developments near Senoia at their meeting Tuesday.

The board approved the rezoning of 3.372 acres of land on 6599 Highway 16 East from Rural Conservation, or RC, to C-8, or Heavy Commercial, for the purpose of constructing a storage facility, and the rezoning of 1.045 acres of land on the former roadbed of Old Highway 85 from Rural Conservation to C-6, or Commercial Minor Shopping District, for the purpose of constructing retail space.

The storage facility would include a parking area for recreational vehicles, and according to Neal Spradlin, who represented applicant Frazier Properties, the facility would meet a demand that he suggests exists in the area.

“Research has shown us there is a significant unmet demand for storage facilities like this,” Spradlin said. “You know how many houses have been built in our county and specifically in that southeastern part of the county in that area. There are some other storage facilities in the area, but there is an unmet need for storage facilities and outdoor parking.”

Spradlin said that a number of homeowners’ associations expressly prohibit parking of boats, trailers and other recreational vehicles.

The vote was cast in spite of opposition, both in the form of petitions and in the form of public comment, and when the commission voted in favor of the developments, audible frustration could be heard from the public.

Around 400 signatures were made opposing the developments between June 4 and June 21, with many arguing that the development would worsen the traffic on Highway 16, while others suggested that the development would work to harm the rural character of the Senoia area.

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During the meeting, residents took aim at commissioners for approving the measure, including Michael Caswell who did not mince words

“What good is this going to do for our community?” Caswell asked. “This is a country community besides these little stores popping up in our houses. What good is this going to do for us? This is going to destroy our area. You’ve got homes, on the other side, you think they want to look at this? You’ve got a school on the other side of that, you want to build this next to a school, with little kids running around the other side?”

Caswell argued the developments were not necessary, and the residents in the community were opposed to it.

“It’s destroying the country environment that Coweta County’s supposed to be,” he said. “That’s why people moved to this area. They want to be in the country. They don’t want to be around all this.”

After the storage facility was approved, the board went on a short break, then held a public hearing for the retail space.

“I’m just wondering, is this a joke?” Caswell said during the public comment portion of the retail space item. “You deliberated 10 seconds but you sat here for 15 minutes trying to accommodate everything he was asking for, do you guys work for him?”

Commissioner Paul Poole who represents the area and who motioned in favor of both developments, responded, stating he didn’t appreciate what Caswell was saying. However, Chairman Bob Blackburn allowed Caswell to continue.

“You have freedom of speech, go ahead,” Blackburn said to Caswell.

Caswell did go on, arguing the proposals didn’t make “a lick of sense.”

“I feel like we’ve not been heard,” said nearby resident Candy Carson. “The petition of 500 people were dismissed without a bit of consideration, that’s a substantial number of people that live in that neighborhood that were impacted by this. We don’t want this, we have to live there every single day, drive past this, and we feel like this is a done deal and we’re wasting our breath.”




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Scaling up your business in the ASEAN Market with eCommerce enabler etaily – Manila Bulletin

by eCommerce

Southeast Asia’s projected rise to become the world’s fourth-largest economic bloc in 2030, along with its acceleration in eCommerce, has made it one of the most attractive markets for companies worldwide. However, businesses outside the region find that entering it is a complicated process that requires a deep understanding of eCommerce fundamentals and the SEA customer experience. The key to helping them establish a beachhead is a partner that can equip them, digitally advise them on each country’s diverse legal and cultural nuances, and help them create a fulfilling customer experience.

“Going into the SEA market, you will never make it without a partner,” stressed Alexander Friedhoff, CEO and Co-Founder of eCommerce enabler etaily. “Players who want to enter into SEA need strong local partners for import licenses, eCommerce expertise in customer service, influencer management,—all these nitty-gritty things which are happening in the back end which are completely underestimated when it comes to observing the overall eCommerce outlook.”

etaily has established six strategic business locations across SEA including the Philippines. The company’s suite of services including eCommerce strategy, data and analytics, and multi-warehousing has also made it a strong partner for European brands such as Nivea, Alpecin, Sebamed, and many others.

(L-R) Alexander Friedhoff, Co-Founder and CEO, Etaily (TPA Operations Corp); Trish Elamparo-Esteban, Co-Chair, Programs – Digital Congress, Internet & Mobile Marketing Association of the Philippines (IMMAP) Alexander Friedhoff, Co-Founder and CEO of eCommerce enabler etaily, during the Internet and Mobile Marketing Association of the Philippines (IMMAP) Web Wednesdays. He said that a partner on ground in the concerned SEA country can guide international brands entering into the local industry’s inner workings. It can also help the brands scale in Southeast Asia through a skillful implementation of eCommerce, data analytics, and core technologies.

Friedhoff, who is immersed in the SEA digital platforms and legal frameworks, discussed the requirements of brands who want to penetrate the regional eCommerce market in two recent events: the first held by the German-Philippine Chamber of Commerce and Industry, and the second organized by the Internet & Mobile Marketing Association of the Philippines.

(Top, L-R) Ayeeshia Ng, Brand Acquisition (FMCG), Lazada Philippines; Aileen Leviste – Arao, Head of Chamber Services, German-Philippine Chamber of Commerce and Industry (Bottom) Alexander Friedhoff, Co-Founder and CEO, etaily (TPA Operations Corp) During the “Market Entry Strategies: How an Enabler Can Support E-Commerce Business” webinar hosted by the German-Philippine Chamber of Commerce and Industry (GPCCI), Alexander Friedhoff, Co-Founder and CEO of etaily, discussed the benefits of eCommerce enablers. He believes that businesses entering the Southeast Asian eCommerce market will find it difficult without a partner. An eCommerce enabler can give international brands the building, management, and scaling solutions needed to thrive in SEA, allowing them to focus on their core business and deliver more rewarding preferred products to their new SEA markets.

A partner on ground in the concerned SEA country can guide international brands entering into the local industry’s inner workings which are held by channels like Lazada. It can also make them familiar and aligned with the different markets’ complex warehousing, delivery, and customer infrastructures. Finally, that partner can help the brands scale in the region through a skillful implementation of eCommerce, data analytics, and core technologies.

Brands also need to continually update their granular, deep-dive understanding of their SEA customer in their campaigns. The ability to understand the customer’s journey, the competitors, and what both are looking for can make a difference in their digital strategy. “It’s always about the customer. Making the customer happy to allow them to buy, fulfill, return, and get information about the products they want to have,” emphasized Friedhoff.

Technology can infuse them that adaptability needed to respond to a changing regional market, such as social media data on market behaviors, efficient logistics and inventory that can be viewed on real time, and a multi-regional warehouse system and supply chain system for distribution.

A seamless omnichannel experience can also bridge the brands’ offline and online platforms, allowing the SEA market to see offerings from their home countries’ and giving them the assurance and security that these products can be brought to their doorstep.

An eCommerce enabler like etaily can give international brands the building, management, and scaling solutions needed to thrive in SEA. The data-driven social media abilities in its platforms also provide them massive userbases for their marketing campaigns. Within its two years of starting operations in the Philippines, the company developed a regional multi-warehouse system.

Another advantage to having a partner is that the brands will be free to focus on their core business and deliver more rewarding preferred products and services to their new SEA markets. As Friedhoff explained, “Online is, was, and will always be relevant and the pandemic was its semi-accelerator.” However, their proven foundation remains as the brands’ strength: “the fundamental methods which have also made eCommerce important and thriving.”

Entry into the SEA market ultimately means a combination of the essential offline methods and digital technology translating into a rewarding customer journey. “In the end, we are here for one thing: to build great customer experiences, and we are happy to do this with you,” said Friedhoff.

 

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Apple plans to bargain with Maryland retail store after union vote

by Retail

Apple intends to bargain with the newly formed labor union at its Maryland retail store, according to Reuters.

Apple Inc will not challenge the results of a vote by workers at its Towson, Maryland, store to join a labor union and intends to participate in the bargaining process in good faith, a person familiar with the company’s plans told Reuters on Friday.

Reuters

Union efforts have reached Apple Store locations in New York, Georgia, and around the country. The Maryland retail location became the first store to unionize last Saturday after a 65 to 33 vote was held. President Biden praised the retail workers on Monday, expressing his pride for the workers exercising their right to organize.

The company has discouraged union efforts in part by arguing that it would be less flexible in improving employee benefits if negotiations were a factor. 

In May, Apple increased wages for retail workers in a move that was clearly meant to satisfy those in favor of unionizing. Apple similarly issued a wage increase a decade ago after a series of articles by the New York Times brought attention to working conditions. 

Future organizing is expected to reach a dozen Apple Stores around the U.S. as the union push continues to spread.

FTC: We use income earning auto affiliate links. More.

Check out 9to5Mac on YouTube for more Apple news:


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Coinbase Poised to Launch Derivatives Product Aimed at Retail Traders

by Retail

Coinbase plans on launching a new crypto derivatives product aimed at retail traders. Coinbase Derivatives Exchange, formerly FairX, will launch its product on June 27th: Nano Bitcoin Futures (BIT). This is the first product of its kind and would provide retail traders with hedging options.

Coinbase is awaiting regulatory approval on its own futures commission merchant license. In a statement sent to CoinDesk, Coinbase said, “The crypto derivatives market represents $3T in volume worldwide and we believe that additional product development and accessibility will unlock significant growth.” The statement also noted that “at 1/100th of the size of a Bitcoin, it requires less upfront capital than traditional futures products and creates a real opportunity for significant expansion of retail participation in U.S. regulated crypto futures markets.”

Crypto derivatives are something of a hot-button issue, particularly against the backdrop of the crypto winter. Some regulators, including Dutch regulator Paul-Willem van Gerwen, head of Capital Markets and Transparency Supervision at the Dutch Authority for Financial Markets (AFM) see these products as risky, saying last month that he wanted to ban them from retail use. “I maintain that the trade in crypto derivatives should be restricted to wholesale trade.”

Coinbase purchased FairX earlier this year with the goal of launching retail derivatives products. FairX launched its futures exchange platform back in 2021.

The stock has reacted well, going up following the announcement. Derivatives trading tends to be more robust than spot trading. Binance, for example, saw $52.5 billion in derivatives volume in the 24 hours through early Friday afternoon compared to just $12.7 in the spot, according to Barron’s.

As the crypto space continues to rebound after a brutal stretch, investors have the chance to capitalize on the recovery. The Invesco Alerian Galaxy Crypto Economy ETF (SATO) has Coinbase as one of its biggest holdings and stands to benefit from the company’s launch of this new platform.

For more news, information, and strategy, visit the Crypto Channel.

vettafi.com is owned by VettaFi, which also owns the index provider for SATO. VettaFi is not the sponsor of SATO, but VettaFi’s affiliate receives an index licensing fee from the ETF sponsor.


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Shopparty Announces Strategic Alliance With Former White Hou…

by eCommerce

(MENAFN– GlobeNewsWire – Nasdaq)

STANFORD, Calif., June 24, 2022 (GLOBE NEWSWIRE) — ShopParty (Shop Party), a U.S.-based live commerce solution provider founded by Anna Vladymyrska at Stanford University in 2020 whose state-of-the-art tech solution is designed to provide a seamless experience of livestream shopping and shoppable videos, today announced a strategic alliance with former White House Senior Adviser and Attorney and Indian Magic CEO Petra Smeltzer Starke to bring live commerce and sustainable development to the field of eCommerce.

Petra Smeltzer Starke will work with ShopParty’s CEO Anna Vladymyrska and executive team to bring world-class practice across multiple areas involving sustainable development, social and organizational engagements, and more.

About Petra Smeltzer Starke

Petra Smeltzer Starke’s phenomenal career started from studying international business, trade and diplomacy at the Prague School of Economics while supporting herself as a model. Petra’s passion for fashion translates into her modeling successes notwithstanding, Starke finished both undergraduate and graduate degrees at the top of her class and moved to the United States to attend law school at Georgetown University.

Starke was first in her class in law school & practiced law at the international law firm of O’Melveny & Myers, LLP representing many political nominees and appointees during the Bush Administration. Starke was subsequently recruited for the Obama Presidential Transition and later the Obama White House where she served as General Counsel to the White House Council of Economic Advisors and Senior Advisor to the President. Starke has counseled American Presidents, and global Diplomatic Leaders around the world, and established a phenomenal international network. Starke’s expertise helped the Biden-Harris Transition Team on matters of ethics and avoiding conflicts of interest.

Petra says, ‘It is an honor for me to support Anna’s vision for the future of shopping. I am proud as CEO of Indian Magic to have our health, beauty, and well-being line of products partnering and growing from ShopParty and its remarkable platform.’

‘The future of e-commerce will center around the use of advanced technologies that became available with the rise of high-speed internet, 5G, and we are focused on providing our clients with ways to the future in a consistent and fashion industry-friendly way,’ said Anna Vladymryska, ShopParty’s’s founder and CEO. ‘Furthermore, we at ShopParty, believe this alliance with Petra Smeltzer Starke will significantly improve business opportunities enabling ShopParty’s Sustainable Development mission beyond borders on a global scale …’

ShopParty Inc. is a United States-based private company that does not provide services to clients in restricted or sanctioned areas. Please see to learn more about our global brands, technology and events.

Contact information:

ShopParty.com 

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As consumers spend more on gas and food, a shadow looms over retail

by Retail

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Retail sales held up pretty well in the first half of the year, even accounting for inflation’s impact on the numbers. But with consumers spending more on food, gas and experiences instead of discretionary goods, it’s not clear how retail will do in the second half.

It’s been a head-spinning shift. Late in the pandemic, consumers were “flush with cash,” thanks to the federal government’s support and lighter spending on services like dining out, according to Wells Fargo analysts led by Edward Kelly.

“However, budgets are now being pinched as food prices … fuel, and other everyday items remain elevated while stimulus/SNAP dollars dry up,” Kelly said in a Thursday research note on grocery retail.

The deterioration was seen quite clearly last month, when the usual Memorial Day spending bump didn’t materialize, according to research from The NPD Group. Due to inflation, consumers are spending more than they were pre-pandemic but getting less: Compared to May 2019, dollar sales were up 18%, but unit demand was down 1%. Furthermore, U.S. dollar sales of discretionary general merchandise ended 2% lower than last year’s results, while unit sales were 8% lower, per NPD.

“Budgets are now being pinched as food prices … fuel, and other everyday items remain elevated while stimulus/SNAP dollars dry up.”

Edward Kelly

Senior Equity Analyst, Wells Fargo Securities

S&P analysts Sarah Wyeth and Diya Iyer pinpointed a week in May as “the official end to the good times the retail sector has been experiencing since 2021 as various macroeconomic data releases and earnings announcements forced the market to reconsider their view of consumers’ resilience in the face of decades-high inflation.”

Lower and middle-income consumers are feeling the pinch most keenly, according to their report. That showed up in the first-quarter results at Walmart and Target, though Kelly’s team at Wells Fargo observed share gains at lower priced retailers like wholesale clubs, mass merchants and dollar stores, which they believe will continue. Wells Fargo analysts also said that higher-income consumers could also change their behavior more drastically as the pressures get to them too.

As those analysts and others also note, households are dedicating more of their budgets to necessities. Spending at gas stations rose to nearly 5% of consumer spending in May, according to Earnest Research — almost 2 percentage points above historic levels and the highest level since Earnest began tracking this metric five years ago. Fuel prices have risen steadily since Russia’s invasion of Ukraine, Earnest researchers said.

While the consumer pivot seems stark, inflation has persisted for months now. Over the 12 months ending in April, total personal consumption expenditures prices rose 6.3%, or 4.9% not including food and fuel, Federal Reserve Chair Jerome Powell told Congress this week. Russia’s war in Ukraine and mangled supply chains still affected by the pandemic are major factors, he said.

“We are highly attentive to inflation risks and determined to take the measures necessary to restore price stability,” he also said, adding that the central bank will work to stay on top of any unintended consequences of its actions. “The American economy is very strong and well positioned to handle tighter monetary policy.”

Meanwhile, consumers are taking steps of their own. About a third told Jungle Scout researchers that they cut back on personal spending this quarter, while 24% said they spent more. The percentage of those who would switch from their favorite brand based on price rose 12% quarter after quarter, with nearly half saying a brand is their favorite because of low prices, according to Jungle Scout’s report.

NPD researchers found that 83% of U.S consumers plan to make changes to reduce their product spending in the next three to six months, making demand less predictable even compared to what retailers saw during the first two years of the pandemic. The trends have implications for the holidays, as peak shopping periods spread out and consumers buy lower-priced goods, according to Marshal Cohen, chief retail industry adviser at The NPD Group.

“Change is on the way when it comes to consumer spending.”

Marshal Cohen

Chief retail industry adviser, The NPD Group.

“Change is on the way when it comes to consumer spending,” Cohen said in a statement. “As consumers partake in summer vacations, concerts, sporting events, and other service-based spending, general merchandise retailers must prepare for more intense competition for wallet share, but that is just part of the new pattern emerging.”


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Coinbase Readies Its Nano Bitcoin Futures for Retail Clients

by Retail

Source: AdobeStock / mehaniq41

 

Major crypto exchange Coinbase is introducing certain derivatives to retail clients on June 27.

On Monday, Coinbase Derivatives Exchange will launch Nano Bitcoin futures (BIT) – its first listed crypto derivatives product, the company said.

Coinbase Derivatives Exchange is a Designated Contract Markets (DCM) futures exchange regulated by the US Commodity Futures Trading Commission (CFTC). Bitcoin futures track the price movements of bitcoin (BTC), allowing investors to gain exposure to the coin but without having to actually hold the underlying asset.

BIT futures will initially be available for trading via several broker intermediaries, said the exchange’s head, Boris Ilyevsky, naming retail brokers EdgeClear, Ironbeam, NinjaTrader, Optimus Futures, Stage 5, and Tradovate, as well as clearing firms ABN AMRO, ADMIS, Advantage Futures, ED&F Man, Ironbeam, and Wedbush.

Ilyevsky added that,

“Coinbase is awaiting regulatory approval on its own futures commission merchant (FCM) license so we can offer margined futures contracts directly to our clients.”

The BIT Futures contract will offer benefits such as “around-the-clock trading, lower upfront investment, leverage and the ease of going long and short,” but “with the retail trader in mind.”

Per Ilyevsky,

“At 1/100th of the size of a Bitcoin it requires less upfront capital than traditional futures products and creates a real opportunity for significant expansion of retail participation in US regulated crypto futures markets.”

According to a May report by crypto market data provider CryptoCompare, CME’s monthly futures volumes across BTC and ethereum (ETH) contracts saw “a surge” in volume in May, “indicating a rise in speculative activity.” BTC futures contracts in CME recorded the highest number traded since February 2021 with a volume of 250,650 – up 65% since April.

____

Learn more: 
– Coinbase Bets On ‘Enterprise-Grade’ Liquid Staking Business
– Coinbase Pro Users Not Happy With Its Discontinuation, Cite Lower Fees

– Coinbase Says It Grew Too Quickly and Now Lays Off 1,100 Employees
– New Coinbase Disclosure Reminds Bitcoin & Crypto Owners: ‘Not your Keys, Not your Coins’

– Binance, FTX To Dominate Bitcoin Futures in 2022, But DEXes Also Gaining Ground – Report
– Slow Start for Third Bitcoin ETF, Lower Costs Could Attract More Capital


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How to Watch “Trixie Motel” all-new Trixie Mattel series

by Merchandise

Welcome to Trixie Mattel’s bubblegum pink paradise! Stream new episodes of Trixie Motel for free with a discovery+ subscription.

Trixie Mattel is bringing her affinity for all-things blonde, pink, western, and retro-kitschy to the world of real estate restoration. Throughout the new discovery+ renovation series, Trixie Motel, this drag superstar is ready to completely overhaul a forgotten motel in Palm Springs, California. The RuPaul’s Drag Race All Stars season 3 winner is taking viewers along for the ride in a documentary-style series now streaming on discovery+.

Join Trixie, David (her boyfriend and co-owner of the property), and a slew of exciting celebrity guests for the creation of the Trixie Motel. Don’t miss your chance to watch stars like Lisa Vanderpump, Nicole Byer, Zooey Deschanel, Jonathan Scott, Katya, Leslie Jordan, Iggy Azalea, Jonathan Bennett, and Belinda Carlisle help turn some run-down lodging into a stunning drag destination.

Where to watch:

Start streaming Trixie Motel today when you register for discovery+ (start free trial). With plans starting at just $4.99/month, subscribe and enjoy a never-ending supply of real-life entertainment. Click here to get started.

Watch the trailer:


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