Lowe’s Making Changes in 2019

Lowe’s Making Changes in 2019

Lowe’s Making Changes in 2019

Marketsource Retail Trends

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August 23, 2019

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By Arthur Villasanta / 08/01/19

Source: International Business Times

Lowe’s refused to specify how many thousand employees lost their jobs this time or which stores will be affected by these job losses. It currently has 1,725 stores throughout the United States. Lowe’s employs 190,000 full-time employees and another 110,000 part-time workers at these stores.

To replace these people, Lowe’s plans to outsource maintenance and assembly workers’ jobs to outside contractors to further slash costs. Assembly workers put together products such as wheelbarrows and grills, for example.

“We are moving to third-party assemblers and facility services to allow Lowe’s store associates to spend more time on the sales floor serving customers,” said Lowe’s in a statement to CNBC.

The firings are the latest under new CEO Marvin Ellison, who only took over in July 2018. Since becoming the top guy at Lowe’s, Ellison has approved shutting-down stores across the country and firing employees in masse to reduce costs.

Lowe’s is justifying the mass firings by saying these will allow store workers to “spend more time on the sales floor serving customers.”

Effects of Layoffs at Lowes: Chatter from the field

“Created apathy among the ranks. I have experienced low to no staffed appliance departments on too many occasions. Recently appliance RSA’s are often called upon to cover and help customers in other Depts such as Plumbing and Flooring.”

 

“It has had a negative impact on customer service as many Lowe’s have had minimum coverage or no one working in appliances to assist customers which has led to consumers walking out of the department.”

 

“Associates are very frustrated with being short staffed and worried they might be next up to be let go. Attitudes are angry and not as friendly or willing to work.”

MarketSource major appliance reps are indicating that the latest round of layoffs in Lowe’s have created an abundance of low morale (39%)

In addition, many reps are observing poor coverage on the floor in-store (35%) which is leading to long wait times/poor customer service (26%), customers leaving (10%) and a reluctance for an associate to make recommendations (8%).

On a 1 to 5 scale, associates have rated the recent layoffs as having a major impact (average of 4.26/5)

Sears and Kmart recently survived total bankruptcy, but the brands’ major financial woes haven’t ended just yet. More than two dozen stores will shut their doors this fall in the latest round of closures

At its peak, Sears operated thousands of stores across the country, a number that fell substantially in the past decade. In late 2018, it made plans to close 262 locations. Now 21 more stores are on the chopping block with closings scheduled for the end of October.

Related Articles

Lowe’s Making Changes in 2019

Lowe’s refused to specify how many thousand employees lost their jobs this time or which stores will be affected by these job losses. It currently has 1,725 stores throughout the United States. Lowe’s employs 190,000 full-time employees and another 110,000 part-time workers at these stores.

The Impact of Tariffs on Major Appliances in the US

Nathan Bomey and Paul Davidson, USA TODAY

Published 12:03 p.m. ET Aug. 2, 2019 | Updated 1:27 p.m. ET Aug. 2, 2019

President Donald Trump signaled that he would hike tariffs on Chinese imports next month after recent talks failed to deliver a trade deal, escalating his trade war with Beijing and taking more direct aim at consumer products.

5G Launch and Impact

Competition is intensifying among manufacturers of mobile infrastructure equipment. Leaders of the 3G and 4G networks face considerable disruption. New companies will join the race, the trend opens the door for existing players to catch up or overtake the leaders.

The Impact of Tariffs on Major Appliances in the US

The Impact of Tariffs on Major Appliances in the US

The Impact of Tariffs on Major Appliances in the US

Marketsource Retail Trends



August 23, 2019



Nathan Bomey and Paul Davidson, USA TODAY

Published 12:03 p.m. ET Aug. 2, 2019 | Updated 1:27 p.m. ET Aug. 2, 2019

President Donald Trump signaled that he would hike tariffs on Chinese imports next month after recent talks failed to deliver a trade deal, escalating his trade war with Beijing and taking more direct aim at consumer products.

This latest threat is to introduce a 10% tariff on $300 billion in Chinese imports not covered by earlier tariffs.

“It’s adding further stress to an already stressed trade environment,” says Gregory Daco, chief U.S. economist of Oxford Economics. “It adds up to a very significant slowdown in economic growth.”

An existing 25% tariff on $250 billion in Chinese imports – as well as duties on imported appliances, steel and aluminum – are already set to reduce economic growth by three-tenths of a percentage point next year, Daco says. The proposed tariff on $300 billion in Chinese shipments would shave off another tenth, cutting growth by nearly half a percentage point to 1.7%.

The new 10% tariff, if it takes effect, already has led Moody’s Analytics chief economist Mark Zandi to raise his recession odds over the next 12 months to 50% from 35%.

Before this latest announcement, the average tariff on Chinese goods imported to the U.S. was 18.3%, up from 3.1% in 2017, according to the Peterson Institute for International Economics. After, and if, the new round takes effect, the average tariff will rise to 21.5%.

This will take effect September 1st if it goes forward.

Related Articles

Lowe’s Making Changes in 2019

Lowe’s refused to specify how many thousand employees lost their jobs this time or which stores will be affected by these job losses. It currently has 1,725 stores throughout the United States. Lowe’s employs 190,000 full-time employees and another 110,000 part-time workers at these stores.

The Impact of Tariffs on Major Appliances in the US

Nathan Bomey and Paul Davidson, USA TODAY

Published 12:03 p.m. ET Aug. 2, 2019 | Updated 1:27 p.m. ET Aug. 2, 2019

President Donald Trump signaled that he would hike tariffs on Chinese imports next month after recent talks failed to deliver a trade deal, escalating his trade war with Beijing and taking more direct aim at consumer products.

5G Launch and Impact

Competition is intensifying among manufacturers of mobile infrastructure equipment. Leaders of the 3G and 4G networks face considerable disruption. New companies will join the race, the trend opens the door for existing players to catch up or overtake the leaders.

5G Launch and Impact

5G Launch and Impact

5G Launch and Impact

Marketsource Retail Trends



August 2, 2019



Impact of 5G on the Consumer

  • 56%of survey consumers claim to be on a post-paid wireless plan vs. 41%that choose pre-paid.
  • Verizon andAT&Tcontinue to battle for the #1 spot in wireless telecom subscribers with the pending merger of T-Mobile and Sprint looming.
  • Samsung, Apple, and LG make up the top three spots in market share among mobile OEMs with a sharp decline to fourth.
  • Phone owners report that they are 8.34/10 satisfied with their current phone on average.
    • LG owners report 8.33, Samsung 8.4 and Apple 8.6/10.
    • Pre-Paid (8.25), Post-Paid(8.40)

  • Consumers are holding on to their phone for an average of 2 years and 4 months(Samsung – 2.2, Apple – 2.19, and LG – 2.68) 
    • Pre-paid (2.12), Post-Paid (2.49)

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.

  • A pricing index was performed by asking consumers a series of four questions:
    • At what point is a phone a bargain?
    • At what point is a phone getting expensive?
    • At what point is a phone too expensive?
    • At what point is a phone so inexpensive you question the quality?
  • What we observe from the data is that the square to the left indicates the acceptable price range consumers are willing to pay.
  • The intersection indicated by the red arrow is the ideal price point (~$300) that the consumer feels is fair.
  • Google Pixel at $399 will be a disrupter

Donec sollicitudin molestie malesuada. Vestibulum ac diam sit amet quam vehicula

Cras ultricies ligula sed magna dictum porta. Curabitur arcu erat, accumsan id imperdiet et, porttitor at sem. Vivamus magna justo, lacinia eget consectetur sed, convallis at tellus. Donec sollicitudin molestie malesuada. Mauris blandit aliquet elit, eget tincidunt nibh pulvinar a. Pellentesque in ipsum id orci porta dapibus. Vivamus suscipit tortor eget felis porttitor volutpat. Vestibulum ac diam sit ame

Related Articles

Lowe’s Making Changes in 2019

Lowe’s refused to specify how many thousand employees lost their jobs this time or which stores will be affected by these job losses. It currently has 1,725 stores throughout the United States. Lowe’s employs 190,000 full-time employees and another 110,000 part-time workers at these stores.

The Impact of Tariffs on Major Appliances in the US

Nathan Bomey and Paul Davidson, USA TODAY

Published 12:03 p.m. ET Aug. 2, 2019 | Updated 1:27 p.m. ET Aug. 2, 2019

President Donald Trump signaled that he would hike tariffs on Chinese imports next month after recent talks failed to deliver a trade deal, escalating his trade war with Beijing and taking more direct aim at consumer products.

5G Launch and Impact

Competition is intensifying among manufacturers of mobile infrastructure equipment. Leaders of the 3G and 4G networks face considerable disruption. New companies will join the race, the trend opens the door for existing players to catch up or overtake the leaders.

Stay Up to Date With The Latest News & Updates

Join Our Newsletter

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Follow Us

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Current MarketPlace Research

Current MarketPlace Research

Current MarketPlace Research

Marketsource Retail Trends



August 2, 2019



  • 56%of survey consumers claim to be on a post-paid wireless plan vs. 41%that choose pre-paid.
  • Verizonand AT&Tcontinue to battle for the #1 spot in wireless telecom subscribers with the pending merger of T-Mobile and Sprint looming.
  • Samsung, Apple, and LG make up the top three spots in market share among mobile OEMs with a sharp decline to fourth.
  • Phone owners report that they are 8.34/10 satisfied with their current phone on average.
    • LG owners report 8.33, Samsung 8.4 and Apple 8.6/10.
    • Pre-Paid (8.25), Post-Paid(8.40)
  • Consumers are holding on to their phone for an average of 2 years and 4 months(Samsung – 2.2, Apple – 2.19, and LG – 2.68) 
    • Pre-paid (2.12), Post-Paid (2.49)

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.

  • A pricing index was performed by asking consumers a series of four questions:
    • At what point is a phone a bargain?
    • At what point is a phone getting expensive?
    • At what point is a phone too expensive?
    • At what point is a phone so inexpensive you question the quality?
  • What we observe from the data is that the square to the left indicates the acceptable price range consumers are willing to pay.
  • The intersection indicated by the red arrow is the ideal price point (~$300) that the consumer feels is fair.
  • Google Pixel at $399 will be a disrupter

Donec sollicitudin molestie malesuada. Vestibulum ac diam sit amet quam vehicula

Cras ultricies ligula sed magna dictum porta. Curabitur arcu erat, accumsan id imperdiet et, porttitor at sem. Vivamus magna justo, lacinia eget consectetur sed, convallis at tellus. Donec sollicitudin molestie malesuada. Mauris blandit aliquet elit, eget tincidunt nibh pulvinar a. Pellentesque in ipsum id orci porta dapibus. Vivamus suscipit tortor eget felis porttitor volutpat. Vestibulum ac diam sit ame

Related Articles

Lowe’s Making Changes in 2019

Lowe’s refused to specify how many thousand employees lost their jobs this time or which stores will be affected by these job losses. It currently has 1,725 stores throughout the United States. Lowe’s employs 190,000 full-time employees and another 110,000 part-time workers at these stores.

The Impact of Tariffs on Major Appliances in the US

Nathan Bomey and Paul Davidson, USA TODAY

Published 12:03 p.m. ET Aug. 2, 2019 | Updated 1:27 p.m. ET Aug. 2, 2019

President Donald Trump signaled that he would hike tariffs on Chinese imports next month after recent talks failed to deliver a trade deal, escalating his trade war with Beijing and taking more direct aim at consumer products.

5G Launch and Impact

Competition is intensifying among manufacturers of mobile infrastructure equipment. Leaders of the 3G and 4G networks face considerable disruption. New companies will join the race, the trend opens the door for existing players to catch up or overtake the leaders.

Stay Up to Date With The Latest News & Updates

Join Our Newsletter

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque

Follow Us

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque

Chatter from the field

Chatter from the field

Chatter from the field

Marketsource Retail Trends



July 23, 2019



North Region 

“AT&T Prepaid has gotten additional signage placed for their double data promotion on their $50 per month plan. The plan usually comes with 8GB of data, but with the promotion, it now gives customers 16GB of data at LTE speeds. With the AutoPay discount in place, this brings the price of the plan down to $40. This promotion is available at AT&T stores and Walmart until July 11th.” 

“The Samsung S10 5G phone is now officially available to purchase through Verizon. It will eventually roll out to other carriers in the near future. Its starting price is $1,300 for the 256GB model or $54.16 per month for 24 months. Verizon has mentioned that their 5G network is currently only available in Chicago and Minneapolis and 5G network access is limited to customers who are on its two top tier unlimited plans, Above Unlimited and Beyond Unlimited.” 

“Sprint announced that it will begin offering its first 5G phones by the end of May. They will begin selling the LG V50 ThinQ5G and HTC 5G Hub devices to consumers by May 31st. Sprint mentioned it will make the phones available in its first four 5G markets; Atlanta, Dallas, Houston and Kansas City. “ 

East Region 

“In Atlantic Coast district, WAL 1XXX, management is very excited about our Full-Time trial at location, they have verbalized loving our approach to business, how we have partnered together and how we ask permission to do events and partner with Walmart.” 

“Colton from Wal5XX in Atlanta North reported that had some language barrier issues with customers and used google translate to help customers to close sales when language was a problem.” 

“Atlanta North also had a few stores with low inventory and a remodel that affected sales this week.” 

“Verizon Pre-Pay has new Rollback pricing: Moto E5 $59.00, Moto E5 Go $39.88, Moto G6 $109.00” 

South Region 

“Sprint reps are frequenting stores more often to drive their latest promos and plans. Table events have become more common in the Florida District.“ 

“ATT is offering a “Double the Data” to their 8GB $50-dollar plan. Customers must activate new lines of service and sign up for AutoPay discount to qualify for their 16GB’s. “

Related Articles

Lowe’s Making Changes in 2019

Lowe’s refused to specify how many thousand employees lost their jobs this time or which stores will be affected by these job losses. It currently has 1,725 stores throughout the United States. Lowe’s employs 190,000 full-time employees and another 110,000 part-time workers at these stores.

The Impact of Tariffs on Major Appliances in the US

Nathan Bomey and Paul Davidson, USA TODAY

Published 12:03 p.m. ET Aug. 2, 2019 | Updated 1:27 p.m. ET Aug. 2, 2019

President Donald Trump signaled that he would hike tariffs on Chinese imports next month after recent talks failed to deliver a trade deal, escalating his trade war with Beijing and taking more direct aim at consumer products.

5G Launch and Impact

Competition is intensifying among manufacturers of mobile infrastructure equipment. Leaders of the 3G and 4G networks face considerable disruption. New companies will join the race, the trend opens the door for existing players to catch up or overtake the leaders.

T-Mobile and Sprint Consider Concessions to get Merger Approved:

T-Mobile and Sprint Consider Concessions to get Merger Approved:

T-Mobile and Sprint Consider Concessions to get Merger Approved:

Marketsource Retail Trends



July 15, 2019



Source: Business Insider

 

• US carriers T-Mobile and Sprint are considering possible concessions, specifically the separation and potential sale of their prepaid businesses, in order to get their proposed $26.5 billion merger approved, according to Bloomberg.

• Critics have argued that consolidation would result in less competition, negatively impacting end consumers who would end up with fewer choices and, as a result, more expensive services.

• And while the two companies dispute this, arguing that their new company would actually bring stronger competition to powerhouses
Verizon and AT&T, this doesn’t appear to stand up when it comes to the prepaid industry.

• A merger between T-Mobile and Sprint would end up with the new company owning a significant portion of the US prepaid market: T-Mobile’s Metro brand along with Sprint’s Boost and Virgin Mobile brands account for about 42% of the market.

• It’s important to note that while these concessions may not be enough on their own to get the merger approved, they may alleviate enough concerns to keep the conversation going and the deal alive.

Related Articles

Lowe’s Making Changes in 2019

Lowe’s refused to specify how many thousand employees lost their jobs this time or which stores will be affected by these job losses. It currently has 1,725 stores throughout the United States. Lowe’s employs 190,000 full-time employees and another 110,000 part-time workers at these stores.

The Impact of Tariffs on Major Appliances in the US

Nathan Bomey and Paul Davidson, USA TODAY

Published 12:03 p.m. ET Aug. 2, 2019 | Updated 1:27 p.m. ET Aug. 2, 2019

President Donald Trump signaled that he would hike tariffs on Chinese imports next month after recent talks failed to deliver a trade deal, escalating his trade war with Beijing and taking more direct aim at consumer products.

5G Launch and Impact

Competition is intensifying among manufacturers of mobile infrastructure equipment. Leaders of the 3G and 4G networks face considerable disruption. New companies will join the race, the trend opens the door for existing players to catch up or overtake the leaders.