Content about Economics

February 14, 2013

More than half of consumers around the world say the world is in an economic recession, according to a new study by Nielsen.

NEW YORK — More than half of consumers around the world say the world is in an economic recession, according to a new study by Nielsen.

According to the Nielsen Global Survey of Consumer Confidence and Spending Intentions, 71% of North Americans said they were in a recession in the fourth-quarter of 2012, but this represented a drop in 15 percentage points from the fourth-quarter of 2011, representing the largest drop in negative sentiments about the economy of any area.

February 12, 2013

A mere 2% increase in the payroll tax could represent $800 in reduced spending power per year for a person with a household income of $40,000, according to a new study by SymphonyIRI.

CHICAGO — A mere 2% increase in the payroll tax could represent $800 in reduced spending power per year for a person with a household income of $40,000, according to a new study by SymphonyIRI.

Symphony Consulting, a division of the Chicago-based market research firm, analyzed shopper behavior since the payroll tax increased on Jan. 1, focusing on the effect of the payroll tax on food and beverage consumption, including its effect on such dimensions as stores shopped, brands purchased and the effect on various segments and categories.

February 8, 2013

Rite Aid has updated the debt refinancing that it announced Jan. 31, the retail pharmacy chain said.

CAMP HILL, Pa. — Rite Aid has updated the debt refinancing that it announced Jan. 31, the retail pharmacy chain said.

February 7, 2013

ComScore released the Digital Wallet Road Map 2013, a study which measures consumer awareness, perceptions and intent to use current digital wallet offerings.

RESTON, Va. — ComScore on Monday released the Digital Wallet Road Map 2013, a study which measures consumer awareness, perceptions and intent to use current digital wallet offerings. The study found digital wallets, which store a virtual copy of the contents of a consumer's physical wallet to facilitate online or offline retail transactions, only had awareness among 51% of U.S. consumers for wallets other than PayPal.

February 1, 2013

Rite Aid will refinance part of its debt, the retail pharmacy chain announced.

CAMP HILL, Pa. — Rite Aid will refinance part of its debt, the retail pharmacy chain announced.

January 30, 2013

Safeway and ExxonMobil announced a new loyalty program that will award customers in the Mid-Atlantic region Reward Points, redeemable at any ExxonMobil station, for products purchased at Safeway.

PLEASANTON, Calif. — Safeway and ExxonMobil on Wednesday announced a new loyalty program that will award customers in the Mid-Atlantic region Reward Points, redeemable at any ExxonMobil station, for products purchased at Safeway.  

According to a recent Safeway survey, one-third of families go out of their way to look for deals because saving money is important to them. Nearly three out of four people will drive out of their way to purchase more affordable gas, and 76% of consumers said they would change where they grocery shop and purchase gas to save money. 

January 24, 2013

Watson Pharmaceuticals has formally changed its name to Actavis and changed its New York Stock Exchange ticker symbol to ACT, the company said.

PARSIPPANY, N.J. — Watson Pharmaceuticals has formally changed its name to Actavis and changed its New York Stock Exchange ticker symbol to ACT, the company said Thursday.

The generic drug maker, now the world's third largest, announced its plan to change the name last year after it acquired Actavis. The combined company expects combined 2012 sales to exceed $8 billion.

January 24, 2013

One-in-5 consumers between the ages of 35 years and 54 years are choosing products due to a loyalty card discount, SymphonyIRI Group reported Wednesday as part of its fourth quarter 2012 MarketPulse survey.

CHICAGO — One-in-5 consumers between the ages of 35 years and 54 years are choosing products due to a loyalty card discount, SymphonyIRI Group reported Wednesday as part of its fourth quarter 2012 MarketPulse survey. And almost one-third are forsaking their preferred brands due to a sale price. The survey found that shopper sentiment dropped to its lowest point since Q3 2011.

January 4, 2013

Weis Markets on Friday announced the launch of its 10th round of price freezes, effective in all 163 store locations.

SUNBURY, Pa. — Weis Markets on Friday announced the launch of its 10th round of price freezes, effective in all 163 store locations. 

More than 2,000 products have been reduced in price and will stay at these discounted levels for 90 days. Since the company began its price freezing initiative in January 2009, Weis customers have saved more than $40 million dollars, the grocer stated.

January 3, 2013

Safeway late Wednesday announced that Steve Burd, its long-time chairman and CEO, will retire at the company's annual stockholders meeting on May 14, 2013.

PLEASANTON, Calif. — Safeway late Wednesday announced that Steve Burd, its long-time chairman and CEO, will retire at the company's annual stockholders meeting on May 14, 2013. Safeway's board will begin a search for a successor, and will consider both internal and external candidates for the job, the grocer stated.  

January 2, 2013

Rite Aid announced a special series of 50th Anniversary customer appreciation savings as the culmination of RA50, its 50th anniversary celebration, which began last September.

CAMP HILL, Pa. — Rite Aid announced a special series of 50th Anniversary customer appreciation savings as the culmination of RA50, its 50th anniversary celebration, which began last September. By participating in the sales events running through early March, customers can receive up to $100 in additional +UP Rewards on top of the savings they already earn through their wellness+ membership.

December 21, 2012

Giant-Carlisle has opened its 100th gas station, the supermarket chain said.

CARLISLE, Pa. — Giant-Carlisle has opened its 100th gas station, the supermarket chain said.

Giant-Carlisle, officially known as Giant Food Stores and owned by Ahold, said the gas station opened at a store in Souderton, Pa. The chain offers a loyalty program, Gas Extra Rewards, that provides discounts on gas when people shop at the supermarket's front end and pharmacy.

December 17, 2012

Insurance coverage is a significant factor that is driving increased OTC utilization — 67% of respondents switched to an OTC once insurance coverage was suspended for a prescription formulation. According to an online survey of more than 900 AccentHealth viewers conducted in September, one-third of consumers reported insurance stopped covering a prescription once an OTC equivalent was available.

Insurance coverage is a significant factor that is driving increased OTC utilization — 67% of respondents switched to an OTC once insurance coverage was suspended for a prescription formulation. According to an online survey of more than 900 AccentHealth viewers conducted in September, one-third of consumers reported insurance stopped covering a prescription once an OTC equivalent was available.

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December 7, 2012

Walgreens last Wednesday reported November sales of $5.9 billion, a decrease of 3.9% versus the same period last year.

DEERFIELD, Ill. — Walgreens last Wednesday reported November sales of $5.9 billion, a decrease of 3.9% versus the same period last year. However, the company also noted it had enrolled 38 million customers for its new loyalty card program, which debuted in September. 

December 7, 2012

Play Beverages on Friday announced that the U.S. Bankruptcy Court for the District of Utah has ruled in its favor and vacated its bankruptcy, freeing it to take legal actions to protect the product license granted for its Playboy Energy Drink.

SALT LAKE CITY — Play Beverages on Friday announced that the U.S. Bankruptcy Court for the District of Utah has ruled in its favor and vacated its bankruptcy, freeing it to take legal actions to protect the product license granted for its Playboy Energy Drink.

The judge’s ruling takes Play Beverages out of an involuntary bankruptcy, enabling it to continue its action in state courts against Playboy Enterprises and others to protect its license to produce and sell Playboy Energy Drink.

November 29, 2012

Drug stores, especially chain drug stores, brand themselves differently. But once customers step through the doors, they tend to only see slight variations of the same thing: the same shelves, too tall for mere humans to reach the top without a ladder; the same product categories every other drug store carries; the same pharmacy counter in the back of the store; and the same cash registers in the front. Some stores have carpets, others have tile floors.


Drug stores, especially chain drug stores, brand themselves differently. But once customers step through the doors, they tend to only see slight variations of the same thing: the same shelves, too tall for mere humans to reach the top without a ladder; the same product categories every other drug store carries; the same pharmacy counter in the back of the store; and the same cash registers in the front. Some stores have carpets, others have tile floors.


November 29, 2012

The economy continues to be the single largest influencer in the growth of the health, beauty and wellness industry. The annual inflation rate has averaged just more than 2% during the past five years.

The economy continues to be the single largest influencer in the growth of the health, beauty and wellness industry. The annual inflation rate has averaged just more than 2% during the past five years. More than ever, consumers are focused on living well with less and are making every effort to save money. Manufacturers are struggling to manage the ever-increasing cost of goods sold, and retailers are under tremendous pressure to increase profits in a very competitive environment.


November 29, 2012

The entirety of Rite Aid’s marketing message can really be broken down to just two simple, yet powerful words: 
wellness empowerment. 


The entirety of Rite Aid’s marketing message can really be broken down to just two simple, yet powerful words: 
wellness empowerment. 


It is those two words that have helped inform Rite Aid’s entire wellness platform, from the introduction of its wellness+ loyalty card program in 2010 to the rollout of its new Wellness stores, beginning in 2011. It is those two words that have helped reinvigorate Rite Aid’s business — from how the store is formatted and how it looks, to the energy that pops among Rite Aid’s Wellness Ambassadors. 


November 28, 2012

Price inflation for the most commonly used branded drugs has been more than six times that of overall inflation for consumer goods since September 2011, according to a new report by pharmacy benefit manager Express Scripts.

ST. LOUIS — Price inflation for the most commonly used branded drugs has been more than six times that of overall inflation for consumer goods since September 2011, according to a new report by pharmacy benefit manager Express Scripts.

November 26, 2012

Consumer spending could drop by almost $200 billion next year while depressing real consumer-spending growth by 1.7% if middle-class taxes rise in response to the fiscal cliff, according to a report released Monday by a White House economic team.

WASHINGTON — Consumer spending could drop by almost $200 billion next year while depressing real consumer-spending growth by 1.7% if middle-class taxes rise in response to the fiscal cliff, according to a report released Monday by a White House economic team.

November 21, 2012

Walgreens and Redbox on Tuesday announced that the first 250 customers to make a purchase at each of the more than 8,000 Walgreens locations nationwide on Thanksgiving Day will get a free one-night Redbox DVD rental.

DEERFIELD, Ill. — Walgreens and Redbox on Tuesday announced that the first 250 customers to make a purchase at each of the more than 8,000 Walgreens locations nationwide on Thanksgiving Day will get a free one-night Redbox DVD rental. The rental will be valid from Thanksgiving Day through Nov. 29, 2012, at any Walgreens offering Redbox rentals.

November 16, 2012

Consumers showed a greater willingness to spend in October as the housing market began to recover and energy prices receded, according to a new report by Deloitte.

NEW YORK — Consumers showed more confidence in October as a recovery in the housing market indicated a greater willingness to spend — especially among people who shop through multiple channels — but some headwinds remain, and the issues in Congress could threaten the gains, according to a new report by Deloitte.

The monthly Deloitte Consumer Spending Index rose significantly last month, to 4.02, from September's 3.54. The index measures tax burden, initial unemployment claims, wages and home prices.

November 6, 2012

Coming off a strong third quarter, CVS Caremark executives expressed confidence that the company’s integrated retail/pharmacy benefit manager model and the unique programs and services it is able to deliver customers and clients are “making the difference,” president and CEO Larry Merlo told analysts during a Tuesday morning earnings call.

WOONSOCKET, R.I. — Coming off a strong third quarter, CVS Caremark executives expressed confidence that the company’s integrated retail/pharmacy benefit manager model and the unique programs and services it is able to deliver customers and clients are “making the difference,” president and CEO Larry Merlo told analysts during a Tuesday morning earnings call.

October 29, 2012

Weis Markets on Friday reported third quarter net income of $17.2 million, up 1.2% for the period ended Sept. 29, while its earnings per share increased 1.6% to $0.64 per share compared to the same period in 2011.

SUNBURY, Pa. — Weis Markets on Friday reported third-quarter net income of $17.2 million, up 1.2% for the period ended Sept. 29, while its earnings per share increased 1.6% to $0.64 per share compared to the same period in 2011.

October 25, 2012

The Vons division of Safeway on Wednesday announced a new program with Chevron to offer a joint Reward Points loyalty program.

PLEASANTON, Calif. — The Vons division of Safeway on Wednesday announced a new program with Chevron to offer a joint Reward Points loyalty program. Customers who earn gas rewards by shopping with their VonsClub Card at Vons stores and their ValuePlus Card at Pavilions stores will now be able to use their Rewards for up to 20 cents off per gallon when filling up at participating Chevron and Texaco branded locations in southern and central California.