With e-commerce surging during the coronavirus pandemic, Prime Day and the 2020 holiday season may be the perfect hunting ground for online fraudsters.
Business Insider spoke with Amazon’s former Director of Corporate Development Aaron Barfoot, who now serves as the chief financial officer of online security firm Forter.
“Good online hygiene means paying attention and being alert,” Barfoot said.
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It’s a potential nightmare for anyone who’s ever shopped online: checking your bank account or credit card statement to find that a cybercriminal has stolen your identity and run up a huge bill.
During Amazon’s two-day Prime Day sales event and the upcoming 2020 holiday season, that’s a scenario that could become reality for more shoppers than ever before. Former Amazon Director of Corporate Development Aaron Barfoot — who now serves as chief financial officer for online fraud prevention firm Forter — said that
Amazon’s Prime Day is here but it’s far from the only sale you should pay attention to this week. While Prime Day lasts from Tuesday Oct. 13 to Wednesday Oct. 14, Walmart’s Big Save is going on at the same time. It matches many of Amazon’s deals and is live until Thursday Oct. 15. The deals just keep coming!
Much like Prime Day and Black Friday sales, the Big Save shopping event offers thousands of discounts on electronics, toys, home goods, fashion and more. Plus, you’ll get free two-day shipping on orders over $35 for eligible items. (Some orders will also be eligible for next-day delivery or in-store pickup, if you haven’t already signed up for Walmart Plus.)
On Monday, analysts at Cowen reiterated their Outperform rating on shares of Walmart while raising their price target to $160, up from $155. The $160 price target is based on ~29x analysts FY22 EPS estimate of $5.50, compared to consensus estimates of $4.99 per share. The Outperform rating is based on analysts believing in Walmart’s ability to accelerate its digital ad biz & drive upside to e-commerce profitability. Analysts project ad business revenue could reach $3.4bn+ by FY23 yielding 1.8% share of the digital ad market & 5% to EPS.
Walmart has some compelling prospects for ad biz growth. Walmart is in the very early innings of building its ad prowess, but analysts point to numerous positives helping to build momentum towards high growth opportunities; these include decisions to bring its media group in-house, the launch of various tools and analytics for greater control and insights for advertisers, and strong
We are currently searching for the best deals on Wirecutter picks in this category and will add them here if we find them!
Walmart often matches Amazon’s Prime Day discounts—and vice versa—which means, come Prime Day, you may see some pretty competitive pricing between the two monolithic retailers. We’ve seen it ourselves first hand, in fact. A few years ago, Deputy Deals Editor Dan Kim watched the price of the Coway AP-1512HH Mighty air purifier drop lower and lower throughout the day as each store tried to outshine the other. Eventually, when the price felt right (and when it seemed the competition had drawn to an end), he made his purchase and ended up spending $132 (the lowest we had seen to date). Compared to the first deal the team had spotted that morning at $185, the 30% drop in price was hardly believable.
Just ahead of the holiday shopping season, Walmart is making a new push into a subscription service. The concept, called Walmart Plus, launched two weeks ago and so far includes only a handful of perks. But it might someday shake up the e-commerce subscription market that’s thoroughly dominated by Amazon Prime.
Walmart is one of the very few companies that could hope to challenge Amazon, which has a 15-year headstart and boasts over 150 million members worldwide. As the biggest retailer in the world, Walmart has the resources, finances and logistics infrastructure to build out a viable Prime rival.
It’s got a very long way to go. Walmart Plus, which costs $98 a year, offers shipping as fast as same-day for orders over $35. It also offers a fuel discount and a “Scan & Go”
Walmart (WMT) – Get Report on Wednesday unveiled a new store redesign that works with its mobile app to help customers make contactless transactions.
“As part of the overall signage, the exterior and interior of the stores will reflect the Walmart app icon,” the Bentonville, Ark., company’s executive vice president and chief customer officer, Janey Whiteside, said in a blog post.
“As customers enter the store, they will see colorful iconography and a store directory that encourages them to download and use the Walmart app while they shop.
“Throughout the store, bold, dimensional typeface … directs customers to the exact section they are looking for, while aisles are marked with letter and number combinations to guide customers from phone to product.”
The company said it tested the design in select stores — it didn’t say which — and was pleased with the customer feedback.
Walmart may’ve given us a sneak peek at an unreleased smart speaker from Google. A Twitter user posted a picture Thursday showing a Nest Audio device, which looks just like an official teaser for Google’s next speaker.
“Looks like walmart jumped the gun on the unreleased speaker from google,” Marcos Frausto tweeted.
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Reddit user throwGNestAudio also shared images of a Google Nest Audio purchased for $100 from Walmart, noting the device’s audio quality “blows the original Google home out of the water by a very, very wide margin.”
TikTok’s parent ByteDance has applied for an export license in line with the Chinese government’s new regulation on the sale of AI technology, the company disclosed in a blog post, as it seeks Beijing’s approval for its proposed deal to sell a 20% stake in the video-sharing platform to Oracle and Walmart.
In a post made on the Chinese blogging platform Toutiao, ByteDance wrote that it has submitted a license application to the Beijing Municipal Bureau of Commerce for the export of “prohibited and restricted technologies,” but did not offer any details on the exact technology in question.
Last month, the Chinese government had updated its export controls list adding AI technologies—including ‘‘personalized content recommendation” tools like the one used by TikTok—in a move that necessitates its approval for any deal
“It’s the crown jewel asset that falls in their lap,” said Daniel Ives, an analyst at Wedbush Securities. “The ecommerce piece of TikTok is in early days of being monetized, and now Walmart gets to build a fence around that user base.”
Walmart has been quietly acting more like a technology company in recent years.
The TikTok deal is just the latest sign the superstore is transforming beyond the confines of brick-and-mortar. A deal with the viral video sensation could also bolster Walmart’s efforts to compete against Amazon, especially as the pandemic has allowed it to encroach on the ecommerce behemoth’s market share.
(Amazon chief executive Jeff Bezos owns The Washington Post.)
Walmart’s online sales jumped 97 percent in the second quarter, the company recently said, boosting overall sales by nearly 6 percent, as my colleague Abha Bhattarai recently reported. Its e-commerce sales accounted for 5 percent of the overall