• Walmart, Target and Best Buy will try to divert dollars from Amazon Prime Day by offering their own deals and fulfilling orders quickly through curbside and in-store pickup.
  • Buy online, pick up in store options have gained popularity during the coronavirus pandemic as a safe, convenient alternative to browsing store aisles.
  • Yet big-box retailers will have to prove they can keep up as deep discounts and holiday shopping drive demand.



a boy standing in front of a car: A Wal-Mart Pickup-Grocery employee helps a customer at a test store in Bentonville, Arkansas.


© Provided by CNBC
A Wal-Mart Pickup-Grocery employee helps a customer at a test store in Bentonville, Arkansas.

As big-box retailers throw their own sales events during Amazon Prime Day, expect to see them tout an asset that the e-commerce giant doesn’t have: numerous stores across the country where customers can quickly retrieve their online purchases.

Loading...

Load Error

Amazon Prime Day starts at 3 a.m. ET Tuesday and lasts through Wednesday. Target will have “Deal Days” and Best Buy will jumpstart Black Friday sales on those days. Walmart holds its “Big Save Event” from 7 p.m. ET Sunday through Thursday.

Buy online, pick up in store options — such as curbside and in-store pickup — have gained popularity during the coronavirus pandemic as a safe, convenient alternative to browsing store aisles.

Best Buy rolled out curbside pickup at nearly all its stores during the early months of the pandemic. Walmart over the past five or six months has made tens of thousands of general merchandise items eligible for curbside pickup, along with its wide selection of groceries. Target will add fresh and frozen foods to curbside pickup at the vast majority of stores by the holidays, so shoppers can pick up milk along with gifts for their family. 

By offering an alternative to waiting for a package to arrive to the doorstep, retailers are trying to beat Amazon at its

Customers can find a vast range of goods at Walmart (NYSE:WMT). Starting next week, they will be able to put a health insurance policy in their shopping cart, too.

The big retailer announced Tuesday that it is launching Walmart Insurance Services, a licensed brokerage, on Thursday, Oct. 15. The unit, which is licensed in all 50 states plus the District of Columbia, will begin by selling Medicare insurance plans. The start date is no accident, as that is the beginning of Medicare’s Annual Enrollment Period (which runs through Dec. 7).

In that initial stage, Walmart Insurance Services will sell Medicare plans from a variety of well-known providers, including but not limited to Humana, Anthem, and UnitedHealth Group‘s UnitedHealthcare. The company says more might be added in the future.

Stethoscope atop US currency and insurance claim form

Image source: Getty Images.

The initial concentration on Medicare plans is in character for Walmart, which for years has been resolutely focused on budget-conscious customers. Accordingly, the company played up the potential money-saving aspects of its new service, citing recent research from eHealth indicating that one in 10 Medicare beneficiaries has a plan that is the most cost-effective in terms of out-of-pocket spending.

“Helping customers select the right Medicare insurance plan to meet their needs aligns with Walmart’s mission of helping people save money and live better,” the company wrote in the press release announcing the new service.

On Tuesday, Walmart’s shares fell by 0.8%. This, however, bettered the S&P 500 index, which declined by 1.4% on the day.

Source Article

The stock market was volatile on Tuesday after posting solid gains to start the week. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 0.37% at 1:10 p.m. EDT today, outperforming the other major indexes.

One thing keeping the stock market in check could be comments from Federal Reserve chairman Jerome Powell, who warned on Tuesday that too little government aid would lead to a weak economic recovery. Congress has yet to agree on additional stimulus measures, and an agreement does not appear close.

Shares of Boeing (NYSE: BA) were moving in the wrong direction on Tuesday after the airplane manufacturer predicted a difficult decade ahead. Meanwhile, the stock of Walmart (NYSE: WMT) was little changed after the retailer announced an insurance brokerage business.

An airplane.

Image source: Getty Images.

Boeing forecasts tough years ahead

The coronavirus pandemic has greatly reduced demand for air travel. While the number of daily air passengers in the United States has improved since bottoming out in April, the Transportation Security Administration is still reporting year-over-year declines around 65%.

This lack of demand for air travel will have longer-term implications for the aviation industry. In its 2020 market outlook, Boeing predicted demand for 18,350 commercial airplanes over the next decade, down 11% from the comparable 2019 forecast.

While the next decade will be tough, Boeing is more optimistic when a 20-year period is considered. The company expects demand for 43,000 commercial airplanes over the next 20 years, which will drive the size of the global commercial fleet from 25,900 today to 48,400 by 2039. Passenger traffic is expected to grow by an average of 4% annually over the next two decades.

Boeing expects single-aisle airplanes to be the largest market segment, predicting 20-year demand of 32,270 planes. This category includes its 737 MAX, which is still grounded

Walmart is entering the health insurance business, just in time for those signing up for Medicare open enrollment this fall.

The Bentonville, Ark.-based retailer announced Tuesday the opening of Walmart Insurance Services to “assist people with enrolling in insurance plans—and simplify what’s historically been a cumbersome, confusing process.”

“We want customers to feel confident in selecting a Medicare plan that best fits their needs, budget, and lifestyle,” David Sullivan, general manager of Walmart Insurance Services, said in a statement. “And we want to be a trusted partner on their health care journey.”

WALMART TO TEST DRONE DELIVERY OF COVID-19 TEST KITS

Walmart Insurance Services, a licensed insurance brokerage, will begin selling Medicare insurance plans during this year’s Annual Enrollment Period (AEP), which runs from Oct. 15 through Dec. 7.

The agency, which is licensed in all 50 states and Washington, D.C., will provide Medicare plans (Part D, Medicare Advantage, and Medicare Supplement plans) offered by Humana, UnitedHealthcare, Anthem Blue Cross Blue Shield, Amerigroup, Simply Health, Wellcare (Centene), Clover Health and Arkansas Blue Cross and Blue Shield.

Medicare Advantage plans cater to Americans who are older than 65 and those with disabilities.

WALMART TO HIRE 20,000 WORKERS FOR HOLIDAY RUSH

According to Sullivan, only 1 in 10 Medicare beneficiaries is enrolled in a plan that saves them the most on out-of-pocket spending.

“Helping customers select the right Medicare insurance plan to meet their needs aligns with Walmart’s mission of helping people save money and live better,” he said in a statement on Tuesday.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The company said Tuesday that “more carriers may

Walmart  (WMT) – Get Report next week is set to launch a health-insurance service as coronavirus cases continue to be persistently high across most of the country.

In a blog post the Bentonville, Ark., retailer said Walmart Insurance Services, a licensed insurance brokerage, will “assist people with enrolling in insurance plans —and simplify what’s historically been a cumbersome, confusing process.”

Walmart will begin selling Medicare insurance plans during this year’s annual enrollment period, Oct. 15 through Dec. 7, the company said. 

The retailer did not specify the cost of these insurance plans but said it was committed to offering quality health care at “low, transparent prices.”

“We want customers to feel confident in selecting a Medicare plan that best fits their needs, budget and lifestyle,” said David Sullivan, Walmart’s general manager of insurance services, in a statement. 

At launch, Walmart Insurance will provide Medicare plans offered by health insurers like Humana,  (HUM) – Get Report UnitedHealthcare  (UNH) – Get Report, Anthem Blue Cross Blue Shield,  (ANTM) – Get Report Amerigroup, Simply Health, Wellcare (Centene)  (CNC) – Get Report, Clover Health and Arkansas Blue Cross and Blue Shield.

The Bentonville, Ark., company said more carriers may be added in the future.

Clover Health to Go Public Via Social Capital SPAC

Walmart’s insurance services are licensed in all 50 states and Washington D.C.

Last week Walmart reached an agreement to sell its underperforming grocery business in the United Kingdom for around $8.8 billion.

Shares of Walmart were little changed at $141.84 at last check.

 

Source Article