Digitalization is not something that’s coming, this is something that already exists, says Bank of America CEO Brian Moynihan. He says that 25 percent of their sales are done on digital. Moynihan says his goal is to bring the whole banking system to the digital age to make it more efficient for customers.
According to the Wall Street Journal Amazon is testing larger format stores with its cashierless technology as a prelude to a Whole Foods rollout. The WSJ appeared to have spoken with several insiders. “It is unclear whether Amazon intends to use the technology for Whole Foods, although that is the most likely application if executives can make it work, according to the people.”
Despite Jeff Bezos’ recent admission that Amazon will eventually fail, the company plans to stave…
The Head of Americas for eBay, Scott Cutler, says that they will sell more online than Walmart, Macy’s and Best Buy combined. Ebay is actually the number two ecommerce player in the United States behind Amazon.
Former Walmart CEO Bill Simon says that Walmart has been “predatory” by selling goods below cost subsidized by profits from their cloud and advertising businesses. Simon says that this strategy put major competitors like Circuit City and Toys R Us out of business.
The CEO of United National Consumer Suppliers, Brett Rose, says that it’s an amazing time to be a consumer because every day is Black Friday. Rose predicts that this is going to possibly be the biggest Q4 in our history.
RingCentral founder and CEO Vlad Shmunis spoke with Jim Cramer on CNBC about how they are competing and leading in cloud communications, winning business from huge legacy companies such as Cisco and Avaya.
Hikmet Ersek, President, CEO, Western Union, recently discussed the new partnership with Amazon, competition with Zelle and Vinmo, and the overall health of the business.
The company has introduced a new app, digital lines, digital pickup shelves and a mobile pickup window in an effort to create a “frictionless experience” for its customers according to Chipotle CEO Brian Niccol.
Amazon is using creative tactics that enable it to avoid import taxes on almost everything it sells by making every item sold a single sale that is under $800 according to trade expert and former Trump advisor Curtis Ellis.