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Tag: Consumer Deals

  • No, you don’t need to buy Costco’s $4,500, 157-piece Le Creuset cookware set

    No, you don’t need to buy Costco’s $4,500, 157-piece Le Creuset cookware set

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    No, you don’t need to spend $4,500 on that 157-piece Le Creuset cookware set from Costco
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    The pricey package has become an everyone-is-talking-about-it sensation, owing largely to social media. A post about the set on X, the platform formerly known as Twitter, that has now been viewed some 21 million times seems to have been the initial source of the buzz. It noted that the Costco offering has “probably every kitchen item you will ever need.”

    In turn, that post generated more social-media chatter, along with articles in publications including the New York Post and the Delish website.

    Now the set is apparently so popular, you can’t even get it. In several parts of the country, the Costco site doesn’t even list it as being available. MarketWatch reached out to the retailer for details but did not receive an immediate response.

    Perhaps it’s just as well that home cooks won’t be tempted to spend all that money. When MarketWatch spoke with several prominent New York chefs and restaurateurs, they all said the set was overkill, even if it represented a savings compared with buying the items individually.

    If anything, these culinary pros noted that purchasing so many pieces not only poses a storage issue, but it can also create confusion in the kitchen, especially for the home cook.

    “I don’t even have one-tenth of that set,” says veteran chef Konstantinos Kvasilava, who works at Kyma, a high-end Greek restaurant in New York, and who previously was at Geranium, a Michelin-starred establishment in Copenhagen.

    So what are the items you should buy for your kitchen? Here are five rules chefs say you should keep in mind.

    Stick with the basics

    The Costco Le Creuset set includes several pots and pans, plus bakeware, dinnerware and more. Let’s presume you already have some plates and utensils in your kitchen. Beyond that, chefs generally recommend a small number of pieces — think in terms of as few as four and as many as 10, says Franklin Becker, chef and owner of the Press Club Grill and Point Seven restaurants in New York. His must-have list includes 8-inch and 10-inch nonstick pans, a high-sided stainless-steel sauté pan and 1-quart, 4-quart and 8-quart pots. “Those are the essentials,” says Becker, explaining that such items will cover your needs depending on what you’re cooking — the nonstick pans are great for eggs, he notes — and how many people you’re cooking for. The 8-quart pot will work if you’re entertaining a crowd and need to make a big dish.

    Other chefs’ must-haves include a cast-iron pan, often a preferred method for cooking steaks; a casserole dish, which is good for casseroles, naturally; and a Dutch oven. It’s always best to think of items that can be used in multiple ways. Rose Noel, executive chef at New York’s Peak restaurant, likes a cast-iron pan, for example, because it can go into the oven and can also be used on an outdoor grill. “It carries everywhere,” she explains. And, she says, a decent-sized casserole dish can double as a roasting pan for, say, cooking a chicken.

    Add extras, depending on what you eat

    One you have those basics, look at your daily diet and buy items that fit your own needs. Simon Kim, proprietor of Cote Korean Steakhouse, which has locations in New York and Miami, says he doesn’t make eggs at home for breakfast, but he always makes smoothies, so a powerful blender is a must for him. And he eats a lot of rice, so he has a rice cooker, which he says is much better than an everyday pot when it comes to preparing that staple.  

    Buy quality

    It’s always tempting to go the cheap route, but chefs say you’ll pay for it in the end by having cookware that doesn’t last as long and doesn’t cook as well. Becker notes that aluminum cookware, which typically costs less, should be avoided at, well, all costs.

    In terms of brand preferences, chefs mention many higher-end names, such as T-fal , All-Clad and Le Creuset. And when it comes to that blender for his morning smoothies, Kim says he swears by his Vitamix.

    Avoid sets

    The problem with buying any cookware set, even one with as few as 10 pieces, is that it often means duplicating items you already have, chefs say. Plus it doesn’t allow you to mix and match brands and take advantage of the fact that certain brands may be better than others for certain items.

    Noel suggests you purchase cookware for your kitchen the same way you purchase clothes for your wardrobe. “Buy pieces to fill in what you’re missing or need to update,” she says.

    Take care of what you own

    Even the best cookware won’t measure up if you don’t treat it properly. Becker says it’s important to wash pots and pans pretty much immediately after each use so that food and grease don’t harden and become difficult to remove. And when it comes to that cast-iron pan, Becker suggests that it be seasoned and cleaned with salt before being oiled lightly to seal it.

    Now read: Americans are sick and tired of tipping. Here’s why we need to tip more — not less.

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  • Why Amazon clicks with shoppers — on Prime Day or any day

    Why Amazon clicks with shoppers — on Prime Day or any day

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    Some time ago, I was standing in the vitamin aisle of my local pharmacy, struggling to locate a specific bottle of pills that my doctor had recommended. It was seemingly nowhere to be found. And based on my experience at this particular store, I knew that even if I was able to track down an employee for help, I wasn’t likely to receive much in the way of assistance.

    Then, a solution to my dilemma suddenly dawned on me: Amazon
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    ! I looked up said bottle, found it within almost no time and ordered it. By the next day, it had arrived. And it probably cost me a couple of dollars less than what I would have spent at the pharmacy — if I had ever located it there.

    Of course, you don’t need to be in search of a hard-to-find item to appreciate the wonders of the online retail giant that Jeff Bezos founded from his garage in 1994. Millions of us are likely to be on the site this week for Amazon’s annual Prime Day event running July 11 and 12 this year, which is a sales extravaganza that one bargain-mad colleague likened to “basically my Super Bowl.” To take advantage of the deals, you’ll naturally have to be an Amazon Prime member, which carries an annual fee of $139. But it’s not like that’s a small number of folks: Amazon says there are now more than 200 million such members worldwide.

    Read more: 5 hacks to get the best deals on Amazon Prime Day — and other summer sales

    And: What not to buy on Amazon Prime Day — and why discounts may be even bigger this year

    I’ve been one of those Prime people for years — if nothing else, for the free two-day shipping it offers. But even before I signed on for Prime, I ordered plenty from Amazon. My purchases over the past decade have ranged from a super-hot horseradish to a pair of armrest slipcovers to a folding exercise bike. Actually, I ordered the three items I just mentioned during the first couple of months of the pandemic, when Amazon became a kind of lifeline given the health risks of shopping in person. But if I go back in time, I find countless purchases for books (Amazon’s original specialty), clothes and margarita mix (there’s a brand I like that I often can’t find at the supermarket).

    At this point, Amazon isn’t just a company. It’s an institution woven into the fabric of our lives.

    And yet, I know there are plenty of people, including some of my friends and relatives, who boycott Amazon. They point to the oft-cited criticisms of the company, such as the treatment of its workers (in 2019, the company’s employees were injured on the job far more than the national average in the warehousing and storage sector) to the broader notion that online retailers hurt the brick-and-mortar stores that have been a traditional bedrock of our communities.

    Criticizing Amazon has become almost a sport unto itself. There are books devoted to the subject, such as Alex MacGillis’ “Fulfillment: Winning and Losing in One-Click America” (ironically, I purchased my copy of it on Amazon). Heck, there’s even a whole Wikipedia page detailing the criticisms.

    I get the issues that many people have. And it’s not like Amazon doesn’t recognize them, either: The company has acknowledged the injury situation, for example, but has also pledged to cut incidents in half by 2025, according to The Wall Street Journal.

    When I reached out to Amazon for this column and cited the various criticisms made of the company, Amazon responded with a statement that, among other things, said it works “hard to be a good neighbor…with communities across the country” and that it creates “good jobs with competitive pay and benefits, including health care from the first day, up to 20 weeks paid parental leave, and full college tuition.” Amazon also cited some of its philanthropic initiatives, including its Amazon Housing Equity Fund, a $2 billion program to build or preserve affordable homes.

    All of this is what you expect from a giant corporation trying to defend itself. I’m not going to get into the weeds about the particular criticisms and whether Amazon makes a successful case for itself or not. But I will say that people vote with their wallets. And they’re reelecting Amazon on a daily, if not hourly, basis with all their purchases.

    People vote with their wallets. And they’re reelecting Amazon on a daily, if not hourly, basis with all their purchases.

    Ultimately, Amazon is about convenience combined with competitive pricing — a formula that’s hard to beat. It launched the era of online retailing, and it has mastered the art of it to this day. When I hear people bemoan the fates of all those brick-and-mortar stores, I admit to thinking to myself, “OK, but do you still want your mail delivered by the Pony Express?” Or, “Do you still want to do your shopping at ye olde general store?”

    The point is that we evolve as a society and new forms of commerce and communication take over. Yes, there are prices to be paid for that. I admit to missing some of the brick-and-mortar stores and chains that were part of my youth — I’m 59 years old, and remember spending practically entire days in neighborhood bookshops long gone. For that matter, I don’t condone bad behavior by large multinational companies; though, like I said, I’ll let others debate some of the specifics regarding Amazon.

    But let’s face it: At this point, Amazon isn’t just a company. It’s an institution woven into the fabric of our lives — and for good reason, I’d argue. I don’t care about shopping on Prime Day, though I know there are a few deals to be had. Mostly, I just increasingly rely on Amazon to make my life easier by selling me any number of things I need on a daily basis, including household staples (yes, you can buy toilet paper on Amazon — the company even sells its own brand). And that’s to say nothing of the services the company offers, including its Prime Video streaming (you can thank Amazon for the truly marvelous — and Emmy-winning — “The Marvelous Mrs. Maisel” series, for example).  

    Could someone come along and invent a better version of Amazon, one that might not be as widely criticized? Perhaps, but that’s probably years, if not centuries, down the road. In the meanwhile, we have the Amazon that we have. Now, let me see if I’m out of toilet paper…

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  • Consumer spending barely rose at start of U.S. holiday shopping season

    Consumer spending barely rose at start of U.S. holiday shopping season

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    The numbers: Consumer spending rose a tepid 0.1% in November, suggesting greater caution by households and heavy discounting in the holiday shopping season.

    Analysts polled by The Wall Street Journal had forecast a 0.2% increase.

    Incomes climbed 0.4% last month, the government said Friday, a bit faster than the rate of inflation.

    Key details: Americans spent less on goods in November, especially new cars and trucks. Higher interest rates have put a dent in car sales while excess inventories forced companies to cut the prices of other products.

    Consumers may have also started their holiday shopping early, economists say. Spending rose a sharper 0.9% in October.

    Spending on services, meanwhile, increased again. Americans are spending more on things like recreation and travel and not buying as many goods as they were during the pandemic when they were cooped up at home.

    The U.S. savings rate rate edged up to 2.4% last month from 2.2%, which was the second lowest savings rate on record going back to 1959.

    Households have dipped into their savings to support their spending habits because incomes are not rising as fast as inflation.

    The so-called PCE price index is up 5.5% in the past year. And the better known consumer price index has risen 7.1% in the same span.

    Big picture:  Consumer spending is the main engine of the economy, but it might be starting to sputter in the face of rising interest rates. The Federal Reserve has jacked up rates to try to tame inflation.

    What’s likely to keep spending going up for the time being is a strong jobs market. If layoffs increase and unemployment rises, however, the economy is bound to suffer.

    Higher borrowing costs depress the economy by making it more expensive to buy a home or car or take out a loan.

    Looking ahead: “It seems reasonable to expect people to become more cautious, now that they have run down about half of their accumulated pandemic savings, and labor market conditions are softening,” said chief economist Ian Shepherdson of Pantheon Macroeconomics.

    Market reaction: The Dow Jones Industrial Average
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    and S&P 500
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    were set to open higher in Friday trades.

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  • Amazon’s second ‘Prime Day’ of 2022: When it starts, the best deals and more

    Amazon’s second ‘Prime Day’ of 2022: When it starts, the best deals and more

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    Amazon Prime Day is coming back. Well, kind of.

    Amazon
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    is debuting a new holiday shopping event this week called “Amazon Prime Early Access Sale” where shoppers can get exclusive access to hundreds of thousands of deals ahead of the holidays.

    The new sale is essentially another Amazon Prime Day event, where subscribers can get certain deals for a 48-hour period, just with a different name.

    As millions of shoppers are impacted by record-high inflation in the U.S., some data still suggest, consumers are still set to spend more than last year this holiday season.

    According to data insights from Adobe Inc.
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    online-only holiday spending (Nov. 1 to Dec. 31) is expected to grow 2.5% in 2022, representing the smallest increase since Adobe began tracking this data in 2015. In 2021, holiday spending was 8.6% higher than the year prior, despite, at the time, the rate of U.S. inflation at a 30-year high.

    Here’s what you need to know about Amazon’s Early Access Sale:

    When is Amazon Prime’s Early Access Sale?

    Amazon’s savings event is two days long, running from Tuesday, Oct. 11 through Wednesday, Oct. 12. 

    What time does Amazon Prime’s Early Access Sale start?

    The Early Access Sale begins at midnight PT (3 a.m. ET) on Tuesday, Oct. 11, and runs for 48 hours, through the end of the day on Wednesday, Oct. 12.

    Which countries participate in Amazon Prime’s Early Access Sale?

    Fifteen countries in total are participating in the deals. Those countries include: Austria, Canada, China, France, Germany, Italy, Luxembourg, the Netherlands, Poland, Portugal, Spain, Sweden, Turkey, the U.K., and the U.S., according to Amazon.

    How does Amazon Prime’s Early Access Sale work?

    Items for sale can be viewed on Amazon.com or on Amazon’s app. Anybody can locate which items are listed on sale through Amazon’s platform, but the deals are only available to Prime subscribers, similar to how Amazon’s flagship annual savings event Prime Day is structured.

    Is Amazon Prime’s Early Access Sale only for Prime members?

    Yes. Only Prime members can participate in the deals. Non-Prime members can make purchases on Amazon, but won’t get the type of savings that members get — non members also don’t get access to typically cheaper, and sometimes free shipping costs.

    See also: ‘We are surprised and bewildered’: My brother passed away and left his house, cash and possessions to charity. Can his siblings contest his will?

    Additionally, people who sign up for a 30-day free trial of Amazon Prime can participate in the Early Access Sale.

    How much does Amazon Prime cost?

    An Amazon Prime subscription is $14.99 a month, or $139 for a full year. The subscription includes access to free delivery on millions of items, Prime Video, Prime Gaming, Amazon Music, and Amazon Photos, and broadcasts of “Thursday Night Football.”

    Earlier in 2022, Amazon increased its Prime subscription price from $119 to $139.

    Amazon increased its Prime subscription price from $119 to $139 in 2022.

    What are the best Amazon Prime Early Access deals this year?

    According to a statement from Amazon prior to the event beginning, some of the top deals will be on items including Fire TVs, Alexa enabled devices, and products from LEGO, Adidas
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    and Ashley Furniture.

    There will also be a Top 100 list that features the best deals on the e-commerce platform. The list will highlight the most popular products being purchased, Amazon says, and will launch in unison with the event’s start on Tuesday.

    Are retailers like Target and Walmart starting holiday deals too?

    Target Inc.
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    announced customers will enjoy “earlier than ever” holiday shopping deals this year, including seven weeks of Black Friday deals, marking another instance when retailers are ditching the traditional shopping calendar of the holidays.

    See also: Sorry folks, Black Friday has already started. But don’t worry if you miss the early sales.

    Last month, Walmart
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    announced a “holiday guarantee” that extends the return window for purchased items, beginning Oct. 1, and running through Jan. 31.

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