"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-06-29T12:02:14Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/06/27/buy-now-pay-later-zw-orig.cnn-business"
data-branding-key=""
data-video-slug="buy now pay later zw orig"
data-first-publish-slug="buy now pay later zw orig"
data-video-tags="banking, finance and investments,business, economy and trade,consumer loans and credit,personal debt and bankruptcy,personal finance"
data-details="">
Video Ad Feedback
Young shoppers love buy now, pay later. Here's why that might be a problem
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-06-22T00:45:34Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/media/2022/06/22/zuckerberg-meta-avatar-fashion-moos-pkg-vpx.cnn"
data-branding-key=""
data-video-slug="zuckerberg meta avatar fashion moos pkg vpx"
data-first-publish-slug="zuckerberg meta avatar fashion moos pkg vpx"
data-video-tags="arts and entertainment,business and industry sectors,business, economy and trade,electronic commerce,fashion design,internet retailing,jeanne moos,misc people,online and home shopping,retail and wholesale trade,specialty store"
data-details="">
Video Ad Feedback
Meta launches online store to purchase clothes for your avatar
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-06-09T12:47:28Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/06/06/fresh-money-lug-bags-orig.cnn"
data-branding-key="fresh-money"
data-video-slug="fresh money lug bags orig"
data-first-publish-slug="fresh money lug bags orig"
data-video-tags="business, economy and trade,business and industry sectors,retail and wholesale trade,online and home shopping,economy and economic indicators,economic indicators,consumer behavior,companies,qurate retail group,qvc,company activities and management,computer science and information technology,mobile apps,mobile technology,new products,product management,software and applications,technology"
data-details="">
Video Ad Feedback
The story behind the bag that sold out in 2 minutes
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-06-03T21:45:47Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/06/03/queen-elizabeth-platinum-jubilee-business-profits-uk-moet-hennessy-champagne-qmb-vpx.cnnbusiness"
data-branding-key=""
data-video-slug="queen elizabeth platinum jubilee business profits uk moet hennessy champagne qmb vpx"
data-first-publish-slug="queen elizabeth platinum jubilee business profits uk moet hennessy champagne qmb vpx"
data-video-tags="alcoholic beverages,beverages,british royal family,business and industry sectors,business, economy and trade,celebrities,companies,consumer products,continents and regions,europe,food and drink,kinds of foods and beverages,lvmh,misc people,northern europe,queen elizabeth ii,united kingdom"
data-details="">
Video Ad Feedback
Here's how much businesses are raking in from the Queen's Platinum Jubilee
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-05-23T17:41:10Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/05/23/marketplace-europe-patek-philippe-watches-hiphop-nft-crypto-customers-vpx.cnnbusiness"
data-branding-key="marketplace-europe"
data-video-slug="marketplace europe patek philippe watches hiphop nft crypto customers vpx"
data-first-publish-slug="marketplace europe patek philippe watches hiphop nft crypto customers vpx"
data-video-tags=""
data-details="">
Video Ad Feedback
Patek Philippe president welcomes hip-hop and NFT fanatics
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-05-23T13:46:43Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/05/23/marketplace-europe-inflation-luxury-brands.cnnbusiness"
data-branding-key="marketplace-europe"
data-video-slug="marketplace europe inflation luxury brands"
data-first-publish-slug="marketplace europe inflation luxury brands"
data-video-tags="arts and entertainment,business and industry sectors,business, economy and trade,consumer products,fashion design,leisure and lifestyle,luxurious living,luxury goods,price increases"
data-details="">
Video Ad Feedback
Inflation is pushing up high fashion prices. Luxury buyers don't seem to mind
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-05-09T20:18:53Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/05/09/facebook-meta-first-physical-retail-store-orig-ht.cnn-business"
data-branding-key=""
data-video-slug="Facebook meta first physical retail store orig ht"
data-first-publish-slug="Facebook meta first physical retail store orig ht"
data-video-tags="business and industry sectors,business, economy and trade,california,companies,company activities and management,company structure and ownership,computer science and information technology,continents and regions,facebook,north america,retail and wholesale trade,software and applications,southwestern united states,technology,the americas,united states,virtual reality"
data-details="">
Video Ad Feedback
Facebook's parent company has a brick and mortar store. See what's inside
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-03-12T02:36:54Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/03/11/walgreens-cooler-screens-reaction-ht-orig.cnn-business"
data-branding-key=""
data-video-slug="Walgreens Cooler Screens reaction ht orig"
data-first-publish-slug="Walgreens Cooler Screens reaction ht orig"
data-video-tags="business and industry sectors,business, economy and trade,companies,internet and www,marketing and advertising,marketing and advertising channels,social media,social media marketing,technology,walgreens"
data-details="">
Video Ad Feedback
New tech in Walgreens brings mixed reactions, confusion online
03:33
Now playing
- Source:
CNN Business
New YorkCNN
—
TJ Maxx’s stores have been popular in the pandemic with shoppers looking to score bargains on designer brands — but it’s been raising prices on some of those upscale products.
“Our strategy to surgically raise retail [prices] on select items is well underway, and we believe it is working very effectively,” Ernie Herrman, CEO of TJX
(TJX) companies, parent of TJ Maxx, Marshalls and HomeGoods discount chains, said during an earnings call with analysts Wednesday.
The price increases on luxe goods are due to a triple whammy of pandemic-related factors.
First, there’s less product on the shelves thanks to the global supply chain crisis, with new merchandise long delayed getting into US ports.Second, there’s plenty of pent-up demand from customers hunting for a deal. And finally, TJ Maxx and its sister companies — like many retailers — need to make up the difference now that they’re paying higher wages to combat the worker shortage.
“The foundation of this is what’s going on in this country, which is that wages and supply chain costs are hitting really like never before altogether,” Herrman said of raising prices on some goods. “And it is forcing retailers around us to either promote less or raise their retail. So it is just creating a window of opportunity.”
The company didn’t specify which brands or categories it hiked prices on across its brands, but Herrman said they saw “very good success” in the third quarter.
In fact, Herrman said TJX expected shopper pushback that never came.
We were starting to do this pretty aggressively,” he said of hiking prices in the third quarter. “We thought there’d be a handful of items here or there that we would run into challenges with but that has not been the case.”
As for supply, the inventory of luxury goods in particular is “a little less” right now, Herrman said.
But he’s was confident that the discount stores would have enough products for this year’s holiday season: “Most of the inventory we need for the holiday season has already been delivered to us or is scheduled to arrive in stores and online in time for the holidays.”
