Oil industry faces short-term hurricane impact
While it’s too early to know the full economic and human toll of Hurricane Harvey, we expect a relatively short-term impact on the U.S. energy industry.
Shipt, a grocery delivery startup, is expanding its partnership with Costco and plans to double its overall market size this year, according to CNBC.
Shipt announced it will add nine Florida markets, including six markets with Costco home delivery and three with regional grocer Publix.
"Our biggest competitor is really the habits that consumers have developed over so many years," said Shipt CEO and Founder Bill Smith, who started the Internet-based service in 2015. "We have to convince customers to try grocery shopping a different way."
According to Second Measure data, Shipt had a share of wallet spend in the online grocery delivery segment of nearly 20% as of March 1, while AmazonFresh during the same period was 23%.
However, Wells Fargo's research concluded that "consumers appear more resistant" to online grocery services than investors may realize. It cited a recent survey by Second Measure showing 82% U.S. consumers are still "reluctant to shift food purchases online." (Source: CNBC)
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