As retail behemoths Amazon and Walmart compete for consumers’ spending, both are turning to video streaming ads to open up new sales opportunities and drive conversion.On Wednesday (May 8), Disney Advertising announced a partnership with Walmart Connect, the superstore chain’s retail media platform, to enable targeted advertising using the retailer’s data.“Combining Walmart’s unique omnichannel customer insights with the incredible scale and reach of Disney+ and Hulu content is a huge unlock for marketers,” ...

Oracle has reportedly encountered obstacles in its ambitious plans for electronic medical records company Cerner, which it acquired for $28 billion in December 2021.The company has lost several major clients since the acquisition, its focus has shifted from innovative product ideas to upgrading legacy systems, and its engineers have been taken aback by the effort required to implement changes and migrate customers to the cloud, Bloomberg reported Thursday (May 9), citing interviews with current and former e ...

Core Insights - Consumers are increasing spending on travel and local experiences while reducing purchases of retail products [1][2] - Groupon's North American segment, excluding the Goods business, experienced an 8% year-over-year growth, while gross billings from Goods declined by 36% [1] - The company is focusing on enhancing local experiences and services under the leadership of newly appointed CEO Dusan Senkypl [2] Financial Performance - Gross billings for local experiences in North America rose by 4%, and travel gross billings increased by 3% [2] - Groupon reported four consecutive quarters of positive Adjusted EBITDA, indicating a stabilization in topline performance [2] Consumer Behavior Trends - A significant portion of consumers, particularly across income levels, are cutting back on nonessential spending due to rising retail product prices [1] - There is a generational trend where younger consumers allocate more income towards recreation, leisure, and entertainment activities [3] Strategic Initiatives - Groupon is leveraging digital innovations to enhance consumer experience, including fraud prevention, improved search capabilities, and the use of artificial intelligence to enhance deal quality [3] - The company is actively removing low-quality deals and helping quality merchants curate their offerings to drive demand [3]

Google parent company Alphabet is reportedly in continuing talks with HubSpot about acquiring that company.The companies have discussed the potential terms of a deal, although the deliberations are ongoing, there is no certainty the two companies will come to an agreement, and another potential buyer could emerge, Bloomberg reported Thursday (May 9), citing unnamed sources.Neither Alphabet nor HubSpot immediately replied to PYMNTS’ request for comment.HubSpot, a provider of marketing software, has a current ...

If you take your hands off the wheel, you might crash. That proverbial piece of advice, commonly leveled at business leaders and managers, has taken on a new meaning in light of the U.S. Department of Justice‘s (DOJ) investigation revealed Wednesday (May 8) into electric vehicle (EV) automaker Tesla’s Autopilot and Full Self-Driving (FSD) systems. The EV giant, known for its innovative approach to automotive technology, is currently under the microscope of U.S. federal prosecutors, as well as the U.S. Natio ...

Amazon will launch a dedicated online store in Ireland in 2025.The new Amazon.ie will offer more products from Irish businesses; low, local prices; and no additional customs charges, the company said in a Wednesday (May 8) press release.“This underscores our continued commitment to Ireland and will bring a wide selection of great value products with fast delivery to Irish customers, as well as provide great opportunities for small- and medium-sized Irish businesses to reach a bigger audience at home and abr ...

Warren Buffett’s Berkshire Hathaway has cut its stake in Apple, apparently for tax reasons.The conglomerate’s first quarter earnings report — released Saturday — showed the company’s investment in the tech giant at $135 billion. A report by CNBC noted this would mark a drop of 13%, though Apple remains Berkshire Hathaway’s largest holding, and that this was the second quarter in a row that it has reduced its stake in the company.During a question-and-answer session at Berkshire’s annual meeting in Omaha, Bu ...

Amazon reported strong financial results for the first quarter of 2024, as the company doubles down on its artificial intelligence (AI) initiatives and sees a resurgence in its cloud computing division, Amazon Web Services (AWS).The eCommerce giant’s net sales increased 13% year-over-year to $143.3 billion, while operating income jumped to $15.3 billion from $4.8 billion in the same period last year. AWS net sales rose year-over-year to $25 billion from $21.4 billion.Generative AI Takes Center StageAmazon’s ...

Although it was closely watched for the manner in which it handled its artificial intelligence (AI) investments, Amazon dropped a stunner of a Q1 earnings report Tuesday (April 30), driven by a big spike in its North American operations. Its overall, global operating income grew from $4.8 billion in Q1 2023 to $15.3 billion in 2024.By the numbers, Amazon reported a net sales increase of 13% to $143.3 billion, up from $127.4 billion in the same quarter the previous year. This growth remained steady at 13% af ...

Google is transitioning its Fitbit Pay contactless payments to Google Wallet in most countries.“Google Wallet is now available for all Fitbit devices that support contactless payments,” a message on the Fitbit Pay web page said. “Fitbit Pay will no longer be available starting July 29, 2024.”There is an exception to that in three countries; Fitbit devices will continue to will continue to use Fitbit Pay beyond July 29 in Saudi Arabia, Japan and Taiwan, according to a Google support page.The support page sai ...