Episode description

Welcome to Omni Talk's Retail Daily Minute, sponsored by Ownit AI and Mirakl. Ownit AI helps brands and retailers win Google search by answering their shopper's questions online. Learn more at ownit.co. Mirakl is the global leader in platform business innovation for eCommerce. Companies like Macy’s, Nordstrom, and Kroger use Mirakl to build disruptive growth and profitability through marketplace, dropship, and retail media. For more, visit mirakl.com

Here are today's top headlines:

• Prime Day 2024 saw U.S. consumers spend a record-breaking $7.2 billion on the first day, an 11.7% year-over-year increase, as analyzed by Adobe.
• Joel Anderson, CEO of Five Below, has resigned after nearly a decade, amidst challenges including lower spending by lower-income customers and increased shrinkage levels.
• Whole Foods Market has teamed up with Too Good To Go to reduce food waste across its more than 450 stores nationwide. Customers can purchase "Surprise Bags" via Too Good To Go's app, containing surplus food items nearing their expiration dates at significantly reduced prices.

Stay informed with Omni Talk's Retail Daily Minute, your source for the latest and most important retail insights. Be careful out there!