Retail Sales Rise 0.7% Retail sales beat expectations and rose 0.7% in November to $724.6 billion after rising 0.4% in October, according to the Commerce Department. Sales at auto dealers and online retailers drove much of the gains. Sales were up 2.8% year over year. Core retail sales, which exclude automobiles, gasoline, building materials and food services rebounded, rising 0.4% in November after falling 0.1% in October. Lowe’s Lowe’s is investing in their Total Home Strategy to position the company for long-term growth. Their goal is to create the best ominichannel shopping experience for all generations of homeowners. Lowe’s reports they’ve reached 30% Pro penetration. Their Total Home Strategy spans five growth initiatives aimed at Pros. They include accelerating online sales, expanding home services, creating a loyalty ecosystem and increasing space productivity. To support these Total Home initiatives Lowe’s announced a new AI framework to enhance customer experience and drive productivity. They intend to leverage the experience gained from their success with early AI models that power their online search and product recommendations, sourcing engines and demand planning tools. Lowe’s is now piloting new solutions to empower frontline associates to better serve customers and improve the in-store shopping experience. Lowe’s expanded their online assortment with the initial launch of the first product marketplace in the US home improvement industry. They are working with both new sellers and existing suppliers to offer their full product catalogs, including products across a range of price points to better serve both value-oriented and more affluent consumers. The new marketplace will further position Lowe's as a one-stop shop where customers can get everything they need for their home. In early 2025 Lowe’s will relaunch their Pro loyalty program as MyLowe's Pro Rewards, designed specifically for the small-to-medium Pro. The new program will be more intuitive to use, making it easier and faster for Pros to earn rewards and redeem them. Additionally, Pro customers who shop with their MyLowe's Pro Rewards Credit Card will save 5% every day on eligible purchases. Lowe’s is expanding jobsite delivery for Pros and creating a seamless solution for large special Pro orders. Lowe's sales associates will have instant access to an expanded digital catalog, including inventory availability, pricing and supplier services like jobsite and rooftop delivery. Lowe’s will rely on large suppliers to handle jobsite delivery. Lowe’s plans to open ten to fifteen stores per year over the next several years in fast-growing US markets. Lowe’s will also extend rural offerings to 150 more stores, bringing the rural store count to nearly 500. Ace Hardware Dale Fennel was appointed President of Ace International the first of December. Fennel will report to John Surane, Ace Hardware's Executive Vice President and Chief Growth Officer Fennel will oversee international strategies for existing Ace International retailers, expand Ace into new markets and provide retail support to increase sales and market share. Fennel, a 25-year veteran of Ace Hardware, has expertise in various areas including buying, category management, retail pricing, analytics, Ace Rewards, store systems, operations, innovation, and business development Amazon Chinese news media recently reported that Amazon is pressuring sellers. Amazon reportedly notified managers of several top-selling Chinese brands not to offer the same products at lower prices on Temu. One merchant selling furniture on both platforms stated that if Amazon detects sellers offering significantly higher prices on their platform, they risk being excluded from Amazon’s "Special Discount" program. Amazon donated $1 million dollars to incoming President Donald Trump’s inauguration. Meta CEO Mark Zuckerberg and Open AI CEO Sam Alton made similar pledges in an attempt to smooth relations between Trump and tech companies and help pave the way for beneficial regulations for using AI. Amazon brought back their popular “Thank My Driver” promotion for the holidays. If customers tell Alexa to thank their driver after a delivery, the first two million drivers who are thanked will get a $5 bonus. © Robert Bosch Tool Corporation. All rights reserved, no copying or reproducing is permitted without prior written approval.
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