The latest news for every retail supply chain nerd
Attention shoppers and all you retail supply chain nerds. Welcome to Point of Sale: The Newsletter! Here you’ll find all the latest industry deals, tech developments and everything in between regarding shoppers’ interests. I’m Sydney Edwards, the voice in your head and the writer before you. Happy to be here!
At the market
When I think of Peloton, I think of the boujee bike business, but the company says that’s no longer the main reason people are buying into the brand, given the app exercise features. In a message to stakeholders, Peloton CEO and President Barry McCarthy said 62% of active members participated in non-cycling activities, like yoga, meditation and strength training, with 38% not using Peloton hardware at all to work out. Although the fiscal Q3 numbers were positive, these stats are pushing the company to relaunch the brand. McCarthy said this month the company will relaunch in an effort to further express its values and reintroduce the Peloton app.
The app will have a tiered membership for folks looking to cycle, meditate or get a core workout in. McCarthy said this relaunch is one of the most important initiatives the company is taking on. Historically, Peloton’s numbers decline in fiscal Q4 and the company doesn’t believe that will change, even with the relaunch.
The relaunch is another push toward growth. Peloton implemented a few other initiatives in the last year, including a rental program and refurbished bikes program. For more numbers and a deeper look into its recent work, check out the full letter to stakeholders here.
The trading post
Aldi is bringing you the cheese
If you’ve never perused the cheese and meat aisle of an Aldi grocery store, you are missing out on some of the best charcuterie board options. Lucky for some of you, an Aldi cheese board could be in your future. The company announced plans to expand with 120 new stores. This news could be surprising to some, as many companies worry about layoffs and closures, but Aldi believes its customers will continue choosing the brand.
“While inflation is undoubtedly driving unprecedented demand for affordable groceries, we know
that once customers experience the ALDI difference, they keep shopping with us, even when the economy improves,” said Jason Hart, CEO of Aldi U.S., in a news release. “Our growth is led by our customers, and they continue to want more ALDI locations coast-to-coast.”
The company said this growth is a continuation of last year’s efforts, when it opened and remodeled 139 stores. It has opened 35 new stores so far this year and with more to follow, Aldi will have more than 2,400 stores nationwide. We can expect to see new stores, for example, in New Orleans and Baton Rouge, Louisiana, and more than 2,000 employees joining the team nationally.
The company also noted its ongoing commitment to sustainability, installing rooftop solar panels to sites and opting out of plastic bags. You can check out more on these efforts here.
Gigs and gadgets
To passkey or not to passkey
The frustration I feel when I have to change my password every few months for security measures is only matched when I try to change the password to something I’ve already used in the past. It’s a cycle of adding numbers and letters just to forget what I’ve added until I’m forced to change the password again. Could that frustration be solved? CNN reported that Google is offering a different way to sign in to accounts using passkeys. This method is supposed to be easier and more secure. CNN said Google users will be able to sign in to accounts similarly to how they open their phones by using fingerprints, face scans or codes.
You may have noticed this new feature as part of the iOS 16 update. You can now use passkey with Google apps and Apple Wallet. For those who want to keep things the way they are, you can still use passwords and two-factor authentication to sign in to apps and accounts.
This week we’re checking out the Outbound Tender Volume Index (OTVI) in Dallas. OTVI shows tender load volumes for the U.S. Users can also look at specific regions and market granularity.
Outbound tender rejection rates from Dallas have dropped 112 basis points week over week from 3.75% to end out the month of April at 3.33%.
Starting the month off strong were outbound tender volumes. Rates have dropped 1.54% from the end of April but are currently on an upward trajectory.
Outbound tender volumes are at the second-highest levels since March, which could lead to an increase in rates as a credit to increased summer volumes. Other surrounding markets stand to gain some inbound volumes as a result of Dallas’ increase.
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Until next time,
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