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Walmart is delivering a huge blow to Costco

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Walmart is delivering a huge blow to Costco

FILE PHOTO: Workers stock shelves in a newly built Walmart Super Center prior to its opening in Compton, California, U.S., January 10, 2017. REUTERS/Mike Blake

Thomson Reuters

Workers stock shelves in a newly built Walmart Supercenter in Compton, California.

Jet.com is ending its two-year relationship with Costco. 

The ecommerce company, which was acquired by Costco rival Walmart last year, is dropping hundreds of Costco products sold under the Kirkland Signature brand from its website, Bloomberg reports

The move could be a setback for both Jet and Costco.

Jet was the third biggest seller of Costco products online in the first half of 2016, according to Bloomberg. 

But it also makes sense for Walmart, which is trying to drive business to its own warehouse chain, Sam’s Club, and its private-label brand, Member’s Mark.

Sam’s Club says it recently “reinvented” its Member’s Mark brand by consolidating a number of other private-label brands under that name and adding 300 new products to the label.

“At one point, we had 21 private labels,” Chandra Holt, vice president of private brands at Sam’s Club, said in a news release from April. “So the first thing I set out to do was to simplify for our members.”

NOW WATCH: Why almost every pair of jeans has a zipper that says ‘YKK’

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Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.



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FILE PHOTO: Workers stock shelves in a newly built Walmart Super Center prior to its opening in Compton, California, U.S., January 10, 2017. REUTERS/Mike Blake

Thomson Reuters

Workers stock shelves in a newly built Walmart Supercenter in Compton, California.

Jet.com is ending its two-year relationship with Costco. 

The ecommerce company, which was acquired by Costco rival Walmart last year, is dropping hundreds of Costco products sold under the Kirkland Signature brand from its website, Bloomberg reports

The move could be a setback for both Jet and Costco.

Jet was the third biggest seller of Costco products online in the first half of 2016, according to Bloomberg. 

But it also makes sense for Walmart, which is trying to drive business to its own warehouse chain, Sam’s Club, and its private-label brand, Member’s Mark.

Sam’s Club says it recently “reinvented” its Member’s Mark brand by consolidating a number of other private-label brands under that name and adding 300 new products to the label.

“At one point, we had 21 private labels,” Chandra Holt, vice president of private brands at Sam’s Club, said in a news release from April. “So the first thing I set out to do was to simplify for our members.”

NOW WATCH: Why almost every pair of jeans has a zipper that says ‘YKK’

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Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.



✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2s3uSn6

(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!



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