The Consignment Deal of Bed Bath & Beyond
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In recent years, Bed Bath & Beyond has faced a decline in sales and profits due to various factors such as increased competition from online retailers like Amazon, changing consumer behavior, and the COVID-19 pandemic. The company has also encountered some internal challenges, including a lack of product differentiation, a bloated store network, and ineffective marketing strategies. These issues have led to decreased customer traffic and sales, resulting in financial difficulties for the company. However, this retail giant has recently announced a consignment deal with Restore Capital to create a vendor consignment program worth $120 million. Experts say that this move would strengthen merchandise availability and help keep up with demand.
Check out today’s featured article by Supply Chain Dive to read more about why Bed Bath & Beyond is entering into this $120 million deal and to find out whether it's too late for this retailer to make a comeback. Will vendor consignment programs help bring this struggling store back from the brink of bankruptcy? Or will Bed Bath & Beyond follow the same path as Sears?
Featured Article:
With suppliers still wary, Bed Bath & Beyond banks on $120M consignment deal | Supply Chain Dive
“In its latest move to try and secure product for its shelves, Bed Bath & Beyond unveiled a deal on Monday with ReStore Capital to create a vendor consignment program.”
Electric Vehicles & Infrastructure 🔋
Walmart to Add Thousands of Charging Stations
The retail giant Walmart/Sam's Club has announced plans to add more electric car charging ports to many of its locations around the country by 2030. The current 1,300 charging ports are in operation at nearly 280 locations. On average, participating locations will have about four EV charging stations, which Walmart plans to operate independently without an outside company. They are dropping their previous partners, EVgo and Electrify America, in order to work independently.
EVgo provides fast-charging stations for electric vehicles at over 800 locations across the US. The charging stations support various EV models and charging standards, including CHAdeMO, CCS, and Tesla. EVgo collaborates with automakers, fleet operators, and other partners to expand the EV charging infrastructure and promote the adoption of electric vehicles. Electrify America, on the other hand, was founded by Volkswagen as part of the company's settlement with US regulators over the "dieselgate" scandal. Electrify America aims to build a nationwide network of high-speed EV charging stations, focusing on both urban and rural areas. Both EVgo and Electrify America are addressing the need for a robust and convenient charging infrastructure, one of the main challenges facing electric vehicle adoption. By expanding the availability of charging stations and promoting public awareness of electric vehicles, these companies are helping to pave the way for a cleaner, more sustainable transportation future.
Electric Vehicles & Network Association 🤝
Which Electric Vehicles Compete with Tesla?
When someone thinks of EVs, they almost automatically think of Tesla, which many other EV companies are trying to change. Tesla has always held the top spot when it comes to the sales of electric cars. However, with the emergence of many companies making more environmentally conscious decisions, the market share of the EV giant has been decreasing. At the beginning of 2022, Tesla had a market share of about 72%, which has now sunk to 54%. Many professionals predict that it may fall below 50% in the upcoming weeks. The main competition appears to be General Motors, which boasts that they have sold over 200,000 electric vehicles in the first quarter of this year alone.
General Motors (GM) is one of the world's largest automakers and has been expanding its electric vehicle (EV) offerings in recent years. In early 2021, GM announced an ambitious plan to phase out gasoline-powered vehicles and sell only electric cars and trucks by 2035. GM already has several electric vehicles on the market, including the Chevrolet Bolt EV and the Cadillac Lyriq, and has plans to launch several more in the coming years. The company is also heavily investing in battery technology and plans to build several new battery factories in the US to support its electric vehicle production. These factories will use advanced manufacturing techniques and be powered by renewable energy sources, making them some of the most environmentally sustainable battery factories in the world. Overall, GM's focus on electric vehicles is a key part of the company's strategy to reduce its carbon footprint and transition to a more sustainable future.
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 28, 2024, from iLevel Logistics Inc.