Jan. 22–Kroger is because teaming up with Overstock.com Inc. in an accomplishment to attempt with online retailers.
The New York Post appear the Cincinnati-based grocer may be eyeing a accord with Overstock.com, according to sources. Overstock CEO Patrick Byrne said aftermost year that he affairs to advertise or accommodate the e-commerce business to focus on blockchain technology. Kroger did not animadversion on the accessible deal.
Overstock.com is based in Utah, and launched in 1999. The online banker sells aggregate from furniture, rugs, decor, clothing, kitchen supplies, adornment and toys.
If Kroger acquired Overstock.com, it would be yet addition grocery alternation to accomplice with an online retailer. Amazon acquired Whole Foods Market for about $14 billion in August 2017. Amazon appear it would anon lower prices at Whole Foods and about-face things up for consumers.
“This is aloof the alpha — we will accomplish Amazon Prime the chump rewards affairs at Whole Foods Market and continuously lower prices as we ad-lib together,” said Jeff Wilke, CEO of AmazonWorldwide Consumer. “There is cogent assignment and befalling ahead, and we’re captivated to get started.”
Online grocery arcade is authoritative above gains, according to the Food Marketing Institute’sU.S. Grocery Shopper Trends 2017 report. The cardinal of shoppers affairs some of their advantage online jumped to 11 percent in the aboriginal division compared to 5 percent in 2016, according to the report.
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