FINANCE

Amazon, Whole Foods Market deal a win-win?

BY CSA STAFF

Amazon's purchase of Whole Foods Market appears to be paying off for both parties.

The e-commerce giant has seen a spike in its online grocery sales since it acquired Whole Foods Market, according to a report by Bloomberg, which noted that the online giant immediately put about 2,000 items on its site from Whole Foods' 365 Everyday Value private brand, and sold out of almost all of the most-popular items.

Meanwhile, store traffic at Whole Foods increased 25% during the first two days after Amazon’s takeover, the report said.

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REAL ESTATE

A Kmart closure has Illinois town mulling new opportunity

BY CSA STAFF

Many American communities see the closing of a long-successful department store as a tragedy. Town officials of Oak Lawn, Illinois, see it as an opportunity.

“It is a great location and I think its future…can be very, very bright and strong, and so does the owner of the property,” village manager Larry Deetjen said of the shopping center at 95th Street and Pulaski Road in an interview with the Chicago Tribune.

Sears Holdings announced last month that the Kmart store anchoring the property would be closed, but Oak Lawn’s planning commission tagged the property as prime for redevelopment in 2014. Town planners are considering going vertical with a development combining residential and retail. They have shared a list of interested retailers with Kimco Realty, owner of the site.

Out-parcels such as Chuck E. Cheese’s and LongHorn Steakhouse are successful, say Oak Lawn officials, and they look forward to more of the same in redeveloped property.

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ECOMMERCE

Online giant preps for Indian version of Prime Day

BY CSA STAFF

Amazon is getting ready to host its fourth-annual flagship sale in India.

The online giant is gearing up for its “Great Indian Festival,” an event similar to Amazon’s Prime Day sale. Amazon is banking on the sale’s deep discounts, exclusive merchandise and buyback offers to attract new customers, according to Live Mint.

While the online retailer did not reveal a specific date for the Great Indian Festival, it is expected to launch “around the same time-frame” as last year’s event, which was held October 17-20, 2016, the report said. The sale typically coincides with the Hindu holiday, Diwali, which is Oct. 19.

The event also competes with online rival, Flipkart, which is hosting its annual Big Billion Days (BBD) sale from Sept. 20-24.

In addition to ramping up its capabilities, Amazon India chief Amit Agarwal said in the report that the company has expanded its assortment with more than 80 million additional products — a move that has “grown our selection two times. It will be our biggest shopping season ever in our four-year history (in India).”

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