Latest news with #Retailers
The Independent
a day ago
- Business
- The Independent
Texas considers banning products infused with THC derived from hemp, and retailers are worried
Walk into enough gas stations and they're likely easy to find: gummies, drinks and vapes infused with THC, the compound that gives marijuana its psychoactive properties. That's given lawmakers across the U.S. headaches over how to regulate the booming market, and it's a conflict now taking hold in Texas, where a proposed ban passed by the Legislature poses another major battle for the industry. Texas has some of the nation's most restrictive marijuana laws, but thousands of retailers in the state sell THC consumables, underscoring states' struggle to set rules around the products that generate millions in tax revenue. Republican Gov. Greg Abbott has not indicated whether he will sign the ban. Other states, including California, have imposed restrictions in recent years that include banning underage use and limits on the potency of the products, which are often marketed as legal even in states where marijuana is not. 'Governor Abbott will thoughtfully review any legislation sent to his desk,' spokesperson Andrew Mahaleris said when asked for comment on the bill. Texas tries to crack down The Texas bill would make it a misdemeanor to sell, possess or manufacture consumable products with tetrahydrocannabinol, or THC. The proposal shadows several other state efforts to crack down on a market that has exploded since a 2018 federal law allowed states to regulate hemp, which can be synthetically processed to create THC. Hemp is a plant that is grown to make textiles, plastics, food and several other products. It is related to marijuana and must contain less than 0.3% THC to still be classified as hemp under federal law. The proliferating market has given residents in states with strict marijuana laws such as Texas a legal way to access products that can give them a similar high. Nationwide, the substances are often sold through legal loopholes, despite concerns about potential health risks and a lack of oversight of how they're produced. Republican Lt. Gov. Dan Patrick laid out bags of THC snacks on a table in front of a group of reporters last week to reiterate his determination for Texas to ban the products. He said he wasn't worried about Abbott when asked about the possibility of a veto. 'This is serious business,' Patrick said. If enacted into law, Texas would have one of the most restrictive bans in the country, according to Katharine Neil Harris, a researcher in drug policy at the Baker Institute for Public Policy at Rice University. 'I'm not aware of any other states without recreational marijuana markets that also prohibit consumable hemp products from having any THC,' Harris said. A jumbled legal landscape States that prohibit recreational marijuana have also made efforts to regulate the THC market, including Alabama, Kentucky and Tennessee. In Florida, Republican Gov. Ron DeSantis vetoed a bill last year that would have put in place age restrictions and banned marketing directed toward children, stating that it would hurt small businesses. 'There's such a variety in how states have responded to this," Harris said. Texas has one of the most restrictive medical marijuana programs in the country, only allowing three licensed dispensaries to operate in the state to sell low-potency marijuana to residents with PTSD, cancer or other conditions. Proposals to expand the state's medical program are a sticking point for some Republican lawmakers. A total of 38 states and the District of Columbia have laws that allow the medical use of marijuana. About 6 in 10 voters across the country said they favor legalizing recreational use nationwide, according to AP VoteCast, in a 2024 survey of more than 120,000 U.S. voters. Retailers push back on ban Kyle Bingham, a farmer in the Texas Panhandle, said he doesn't plan on growing hemp anymore if there's a ban. He has grown the plant on a family farm with his dad for four years and said it is one of many crops they grow, including cotton. 'We've never planted more than 5% of our acres in hemp, and that's part of the business plan," said Bingham, who is also vice president of the National Hemp Growers Association. 'So for us, it's definitely hard to walk away from as an investment.' Because of a lack of federal oversight into manufacturing processes and a lack of uniform labeling requirements, it's hard to know what exactly is in THC products sold in stores. Many dispensaries, worried about their future, have urged the governor to veto the legislation. They have defended their industry as providing medical relief to people who cannot access medical marijuana through the state's restrictive program. 'It's absurd they think they can sign away 50,000 jobs,' Savannah Gavlik, an employee at Austin-based dispensary Dope Daughters, said. The store will likely have to close if the ban takes place, but the anxiety has not yet set in, she said. 'One of the biggest things we provide is self care,' Gavlik said. 'It's people genuinely wanting medical relief.' ___
Yahoo
5 days ago
- Business
- Yahoo
Narvar's Anisa Kumar on Tariffs, Trade and the Post-purchase Consumer Experience
Anisa Kumar, chief executive officer of Narvar, the post-purchase intelligence platform provider, is looking at the full picture, tackling every step in the consumer journey as retailers strategize on how to maintain customer loyalty. With consumer stress already high and tariffs expected to raise prices on already stretched-thin budgets, retailers are under pressure to consider every part of their operations. Timely, clear post-purchase communication is key to maintaining consumer loyalty and ultimately beating the competition. It's important, said Kumar, to build trust and increase conversion all at once. More from WWD How Leaders Tackle Tariffs, Supply Chain Costs and Geopolitical Uncertainty Why Michelle Peluso Believes in Revlon's Comeback Why Saudi Arabia and Qatar Are Primed for New Design Events as Contract Business Drives Demand Here, Kumar shares her insights on optimizing operations, post-purchase communication and how retailers should be investing to protect their margins without sacrificing customer loyalty. WWD: How are tariffs affecting retail right now, beyond just product pricing? Anisa Kumar: Tariffs are doing far more than raising prices — they're exposing pressure points across the entire retail operating model. Inventory isn't moving as planned, sourcing strategies are shifting, and fulfillment windows are harder to control. Supply chains are still in flux, and in that uncertainty, P&Ls are being scrutinized for every possible opportunity to protect margin. In recent conversations I've had with retail leaders, there's been a clear shift: more operators are treating post-purchase as a strategic lever. When returns are rerouted efficiently or converted into exchanges, they help reduce the need for additional buys and free up working capital at a time when inventory dollars need to stretch further. Post-purchase can no longer be an operational afterthought. It's a critical lever for margin protection. In a market where predictability is limited, it's one of the most dependable ways to regain control over cost and inventory flow. WWD: Narvar works with many leading retailers — what operational adjustments are you seeing retailers make in response to tariffs and trade volatility? A.K.: With tariffs taking a bigger bite out of P&Ls, retailers are under pressure to optimize every part of their operations. Every dollar counts. That's making precision — not just speed — the new north star across retail supply chains. From how quickly you ship, to how you handle returns, to how effectively you shut down fraud, every decision now has to be data-informed and margin-conscious. It's no longer about rushing every package out the door — it's about making smart trade-offs that protect profit while meeting customer expectations. That's where we come in. Our platform uses machine learning to power personalized, location-aware delivery estimates that align fulfillment speed with actual needs. This not only builds trust with shoppers but also helps retailers trim transportation costs and reduce the risk of unnecessary returns. In a time when even a few percentage points can make or break a quarter, that kind of precision is a true competitive advantage. At Narvar, we're helping retailers move away from over-promise and overspend toward accurate, confidence-building delivery windows. That shift from blanket urgency to strategic optimization is one of the most meaningful operational unlocks I'm seeing right now. WWD: How are shifting sourcing and customs delays impacting fulfillment strategies? What should retailers be doing now to prepare? A.K.: Sourcing and customs delays are extending lead times and making fulfillment timelines harder to predict, especially for cross-border inventory. In response, more brands are investing in real-time visibility and regionalizing fulfillment to stay closer to demand. But beyond rerouting goods, what matters most is optimizing estimated delivery dates — not every item needs to be shipped at the same time to every customer. By surfacing accurate, personalized delivery windows early and often, brands can protect the P&L, build trust and increase conversion all at once. Consumers don't expect perfection, but they do expect transparency. And right now, the retailers best positioned to protect loyalty are the ones treating delivery communication as a core part of their fulfillment strategy. WWD: What role does post-purchase communication play in retaining customer trust during this kind of economic uncertainty? A.K.: In today's environment, clear and timely post-purchase communication is non-negotiable. With so much variability in fulfillment and delivery, keeping consumers informed is one of the most powerful ways to build trust and loyalty. We're seeing that proactive updates throughout the journey reduce support calls, but more importantly, they reinforce confidence. When consumers know what to expect, they stay engaged. And when conditions change, that transparency helps maintain the relationship. It's not just a service touch point; it's a brand promise delivered in real-time. And in a climate of constant change, it's one of the most effective tools retailers have to protect loyalty and performance. WWD: Where should retailers be investing right now to protect their margins without sacrificing customer loyalty? A.K.: Post-purchase has become one of the most overlooked drivers of margin pressure and one of the most immediate opportunities for impact. As consumers grow more price-sensitive, brands will see a rise in both return volume and fraudulent activity. Return rates continue to climb, with our data showing that 39 percent of consumers now return items monthly. And more concerning, 52 percent of consumers have admitted to engaging in return fraud at least once, ranging from wardrobing to false claims about delivery. These behaviors can quietly erode profitability if not addressed with the right mix of policy and precision. This is a moment for retailers to take a more nuanced approach: identifying patterns, rewarding high-trust consumers and designing workflows that protect revenue without compromising the customer experience. As tariffs and external costs mount, few areas offer more untapped value than post-purchase optimization. Best of WWD The Definitive Timeline for Sean 'Diddy' Combs' Sean John Fashion Brand: Lawsuits, Runway Shows and Who Owns It Now What the Highest-paid CEOs at U.S. Fashion and Retail Companies Make Confidence Holds Up, But How Much Can Consumers Take?
The Sun
6 days ago
- Business
- The Sun
Huge cashback site ‘sneakily' axes key perk for thousands of customers leaving them furious
QUIDCO customers have slammed the service for 'sneakily' removing a key perk which has left thousands of customers furious. Cashback sites like Quidco pay users a percentage of the cost of an online purchase. 1 Retailers use services like these in a bid to win over customers, by giving them something back in return for their custom. Up until this month, Quidco offered a ' Highest Cashback Guarantee ', which offered to match any other rates from a UK-based competitor. The pledge meant they not only matched the top rate available, but also added more on top, so the customer would get the highest rate of cashback. Basic users could get an extra 2 per cent of the competitor's rate as a bonus, while Premium users could get double the difference. This was a significant perk for users, typically adding a few more pounds back on a big ticket spend. If for example a Premium member found Quidco's rate was 10 per cent on a purchase, while a competitor was offering 15 per cent, then the site would take the difference - 5 per cent - and then double it to 10 per cent. This would then be added to Quidco's advertised rate of 10 per cent, meaning they would have got a total 20 per cent cashback. So on a £100 spend - £20 would be given back. Basic members got an extra 2 per cent of their rate on top. So in the example above, they would have got the top rate of 15 per cent, plus 2 per cent of that, which works out to 0.3 per cent. The final rate on a £100 spend would have been 15.3 per cent, or £15.30. Switch bank accounts for free perks To claim the difference, users had to submit a form within 72 hours of making the purchase, and supply a dated screenshot showing the competitor's rate. But members, who pay £1 of their cashback earnings per month to be a Premium member, have recently discovered that any mention of Quidco's guarantee and the claim form has disappeared from its website. One said on 'It appears Quidcon have sneakily removed the "Highest Cashback Guarantee" and the double the difference for Premium members. 'I think they're very dishonest since as far as I know they have not notified me of this fact even though it is a significant change in their terms.' Another added: 'I am surprised they pulled it though because that was the only thing good about them but I gave up on them many months ago & only used them if there was a significant difference but I still lost more than I benefited.' Discussing the same issue on another Quidco fan said: 'It's been removed completely, and the chatbot confirms they do not offer it. 'Like it never existed, they could have given a notice to say no longer offered. I have paid premium too, not worth it imo.' Quidco said: "We regularly check to make sure we're giving Quidco members the best possible value. 'As part of this ongoing review, the cashback guarantee has recently been withdrawn and we've introduced new rewards, including double cashback days, flash rewards and increased bonuses, that are even more tailored to our members' shopping needs. "We value the feedback from our members, which plays a vital role in helping us improve our offers and products.' Quidco's Premium service still includes higher cashback rates, with a 10 per cent top-up at over 4,500 retailers, and bigger payout bonuses of up to 20 per cent more if you withdraw your money as an e-gift card. What is cashback? CASHBACK is a type of reward offered by banks, credit card providers, and retailers where customers receive a percentage of their spending back as cash. Essentially, it's a way to earn money while making purchases. For example, if your card offers 1% cashback and you spend £100, you'll earn £1 back. Cashback can be credited to your account, deducted from your balance, or saved up for future use, depending on the provider's terms. It's often offered on everyday purchases, such as groceries, fuel, or online shopping, and may be part of a promotional deal or an ongoing benefit of your account. However, remember to check the terms and conditions, as some transactions may not qualify for cashback rewards. By using cashback offers wisely, you can usually make your money go further on purchases you'd already be making. The news comes after a major bank axed its cashback scheme. Customers were fuming when Santander announced its Santander Edge or Edge Up account will no longer earn 1% cashback on certain spending from September 9. The bank confirmed it's cutting this perk due to increased costs. The Santander Edge account currently gives 1% cashback on certain household bills and spending with a debit card on supermarket shopping, fuel, and travel. Best cashback cards available Many major banks and credit card providers now include cashback rewards as part of their account perks—helping you stretch your money a little further every time you spend. These rewards work by refunding a percentage of your spending back to you, essentially giving you a small rebate on everyday purchases. One of the most competitive options is the Chase debit card, which gives users 1% cashback on most purchases, capped at £15 per month. It's simple to sign up as just an ID check is required and while a few exclusions apply, the overall offer is easy to use and rewarding. Another solid contender is the Amazon Barclaycard. Regular Amazon shoppers will benefit most here, earning 1% cashback on Amazon purchases, which increases to 2% during special events like Prime Day and Black Friday. You'll also receive 0.25% cashback on all other spending (rising to 0.5% in the first year), and there's usually a £20 Amazon voucher just for being approved. Do note, however, that after the first 12 months, you'll need to deposit £1,500 monthly to keep the cashback coming. If you're leaning toward a credit card, the American Express Cashback Everyday Credit Card is ideal for higher spenders or those planning a big purchase. It offers a generous 5% cashback for the first five months, capped at £125. Once the intro period ends, ongoing cashback of up to 1% is available, but only if you spend over £10,000 annually. If you're unlikely to meet that spending threshold, the American Express Cashback Credit Card might be more suitable. It also starts with 5% cashback for three months (again, up to £125), then shifts to 0.75% cashback on the first £10,000 per year, and 1.25% on anything above that. There is, however, a £25 annual fee to consider. For online shoppers, particularly those loyal to Amazon, the Amazon Barclaycard continues to be a standout choice for its consistent and event-based cashback boosts.
Globe and Mail
28-05-2025
- Business
- Globe and Mail
Dear GameStop Stock Fans, Mark Your Calendars for June 9
GameStop (GME) shares have rallied significantly in the build up to the company's Q1 results that are expected to be released on June 9. Consensus is for the gaming merchandise retailer to earn $0.08 per share in its first quarter – up sharply from $0.12 share of loss in the same quarter last year. At the time of writing, GameStop stock is up some 60% versus its year-to-date low. Q1 Earnings Are Particularly Significant for GameStop Stock GME's first-quarter earnings will be closely watched as they'll provide early insights into its Bitcoin (BTCUSD) strategy and whether it's positively impacting the company's financials. The retailer's board approved a plan to invest in Bitcoin in late March. GameStop even raised $1.5 billion through a convertible debt offering this year, with some of the proceeds earmarked for BTC purchases. Investors will, therefore, scrutinize how Bitcoin holdings have so far influenced GME's cash flow, profitability, and balance sheet. All in all, the upcoming release could shape the sentiment around GameStop stock for the remainder of 2025. Is It Worth Buying GME Shares in 2025? While the recently embraced Bitcoin strategy could generate outsized returns for GameStop stock moving forward, the retailer remains a risky investment in 2025 as its core business continues to shrink. In its latest reported quarter, GME saw its revenue tank a little over 28% on a year-on-year basis. Additionally, the NYSE-listed firm currently has a trailing price-earnings multiple of more than 100x, far above industry norms, indicating a big disconnect between the company's valuation and its fundamentals. Caution is warranted in buying GME shares as the retailer lacks a clear growth strategy. Wall Street Is Bearish on GameStop Investors should note that Wall Street remains bearish on GameStop stock this year as well. The one analyst tracked by Barchart currently holds a ' Strong Sell ' rating with a price target of $13.50, indicating potential downside of more than 60% from current levels.
South China Morning Post
26-05-2025
- Business
- South China Morning Post
Japan to cut rice prices by selling directly to retailers
Japan 's new farm minister said on Monday that the country's embattled government would release reserve rice directly to large retailers in an attempt to bring down prices for consumers after the recent spike. The cost of the staple has soared in recent months, creating a major headache for Japan's unpopular leadership ahead of upper house elections due in July. Farm Minister Shinjiro Koizumi said the strategy in recent months of auctioning rice from the government's strategic reserve had failed to reduce prices in stores. Officials have therefore 'decided to sell it in voluntary contracts' to 'large retailers, who treat 10,000 tonnes of rice annually', Koizumi, the son of former premier Junichiro Koizumi, said. Japan's new Agriculture, Forestry and Fisheries Minister Shinjiro Koizumi visits the rice section at a supermarket in Tokyo on Friday. Photo: Kyodo This rice will hit shelves 'in early June at the earliest' and the volume of rice the government will release this time – 300,000 tonnes – will be expanded if demand is strong, he added.
