Express Checkout #115

Hello hello!

Excited to see everyone at Expo West this week! Jenna and I will be walking around we might even ask you some fun questions! We’ll have our silly little mic ready for interviews!

This week we also had a wonderful conversation with Becca Millstein the founder of Fishwife! Perfect timing too because she just launched her cookbook! Millstein shared how she transformed tinned fish from a forgotten pantry staple into a cultural movement and aesthetic experience. Read the full interview here!

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News From the Week

Almost immediately after taking office, the Trump administration implemented two key executive orders targeting diversity initiatives (Executive Orders 14151 and 14173)—and major retailers quickly followed suit.

• Target announced the end of its DEI hiring goals, stopped annual reports to external groups like the Human Rights Campaign, and terminated programs focused on minority-owned businesses.

• Walmart phased out diversity training and reportedly reduced LGBTQ+ merchandise offerings.

• Amazon and Shopify made similar moves, all claiming alignment with the new administration's directives.

And consumers are pushing back. Hard. 🙅 

• Target has seen foot traffic decline for four consecutive weeks, with a 7.9% YoY drop for the week of February 17—more than double the 3.9% decline from the previous week.

• Walmart is experiencing similar trends, with traffic down 5.2% during the same period.

• And the impact isn't limited to physical stores. During the Friday’s "Economic Blackout Day," Target's website traffic dropped 9% compared to February 14, from 5.2 million to 4.7 million visitors, and its app traffic plummeted 14%, from 4.2 million to 3.5 million.

• Meanwhile, Costco, which stood firm on its DEI commitments despite pressure from shareholders and 19 Republican attorneys general, saw its web traffic surge by 22% on the same day, jumping from 2.4 million to 2.9 million visitors.

Our take? Both brands and consumers can impart real change on the world. The beautiful thing about the dollar is how powerful it is—to corrupt, sure, but also to make change. Consumers need to understand that their dollar has weight, and their buying decisions have impact. "Vote with your dollar" is a phrase for a reason—and these early foot traffic numbers suggest it's working.

Today’s Heavy Hitter

Trump just pulled the trigger on those 25% tariffs against Mexico and Canada, starting TOMORROW.

• The S&P 500 immediately dropped 2% on the news, and Canada's already prepping $155 billion in retaliatory tariffs.

• What does this mean for brands? Expect serious supply chain disruptions and higher costs for anyone sourcing from our neighbors. CPG companies with cross-border manufacturing are scrambling to adjust pricing strategies, while retailers are bracing for inevitable price increases that'll hit consumer wallets. If you thought inflation was cooling down...think again.

  • If you’re a Canadian or Mexican brand or supply from either of these countries, reply back and let us know how we can best support you.

CPG & Consumer Goods

• So this is a weekly thing now, huh? Talking Rain Beverage Company, a sneakily large beverage maker, has launched Popwell, a new line of cold-crafted prebiotic (of course) sodas.

  • Talking Rain owns Sparkling Ice, flavored sparkling water in a tall skinny bottle, and that brand alone apparently does over $1 billion in annual sales.

• The epic downfall of fake meats. Beyond Meat is implementing substantial cost-cutting measures as it continues to operate at a loss. The company's restructuring plan includes reducing its workforce by 17% among non-production employees and completely exiting the Chinese market.

• 2025, the year of supplements. Sakara Life, the popular (and pricey) plant-based meal delivery service founded in 2011, is expanding its wellness empire with four supplement products hitting all the trendy wellness trends: a liquid multivitamin, a tart cherry sleep aid, an antioxidant tincture, and a pomegranate gummy for sugar cravings.

• Remember Mushroom coffee? Well it’s still around and growing. Four Sigmatic, a leading functional coffee brand in the US plans to launch 11 new products by summer 2025, including coffees including K-Cups, lattes, and teas infused with functional mushrooms and adaptogens.

• Olive oil fries, anyone? Graza launched a new high-heat cooking oil called Frizzle, available at select Whole Foods Market stores and online. This oil, made from 100% olives with a smoke point of up to 490°F, comes in three formats: a 750ML squeeze bottle, a 5oz spray bottle, and a 2L jug (foodservice soon??).

• Big week for Target launches:

  • Nimbi, a British sustainable women's shaving brand and #1 personal care brand at Erewhon, recently launched at over 900 Target locations with their eco-conscious design approach.

  • Scalp care brand Jupiter is launching its products at Target, featuring updated packaging and lower prices ranging from $14.99 to $17.99. The brand aims to disrupt the dandruff category and attract female shoppers experiencing scalp issues.

  • Curie, a clean personal care brand, launched its deodorants in 1,001 Target locations after debuting at Walmart.

  • Nomadica, a canned wine brand, launched its canned orange wine at Target, becoming the retailer's first orange wine offering. They'll be available at 230 locations across CA, FL, and TX.

eCommerce

• Shop local, made easier. eBay enhanced its shopping experience with new features that make finding local listings and fast-shipping items easier. Shoppers can now see delivery estimates directly on item cards and use a dedicated filter for fast shipping options.

Retail

• A trade show for consumers. Ulta Beauty will host an experiential beauty event, Ulta Beauty World, in San Antonio, TX, on April 26, 2025. The one-day event will feature exclusive access to top brands, live demos, and meet-and-greets with beauty creators, along with curated swag bags for attendees.

  • I love this, and think more brands and retailers should try to put on trade shows for consumers…but go even further and allow consumers to meet the people behind the brands they love.

• A strategic collab. Target is partnering with Champion to launch an exclusive collection of over 500 activewear and sporting goods items for adults and kids, set to debut in August.

• Now bring over the Chinese phones. China's Urban Revivo, often dubbed ‘Asia’s Zara,’ has opened its first US store in SoHo, New York, as part of its global expansion strategy to compete with established fast-fashion brands. Urban Revivo focuses on original design and tech-driven retail experiences, targeting a younger demographic.

• Direct to Mall. Simon Property Group, Shopify, and Leap partnered to bring digitally native brands into the physical world. This strategic alliance offers eCommerce brands a seamless pathway to establish brick-and-mortar locations.

• From DTC darling to partnering with a retail giant. Target and Warby Parker are partnering to launch "Warby Parker at Target" shop-in-shops, which will provide eyewear, including glasses, sunglasses, contacts, and eye exams.

  • Warby was part of that cohort of DTC brands that went from DTC to owning (too many) of their own locations, and now they’re partnering with a massive retailer like Target. Oh, have the tables have turned.

• Two fun grocery stores coming to Long Island, NY. The first Sprouts Farmers Market in New York is set to open in Centereach, occupying the former L.A. Fitness location. Not only that, but the first Wegmans on Long Island also opened the end of Feb. Sprouts in NYC soon??? One can hope.

Funding news

• First beverage acquisition. Core Home, a leading innovator in housewares with a portfolio of over 20 brands including BKLYN Steel Co. and Core Bamboo, acquired BUBLUV, a RTD boba tea, marking a their expansion into the food and beverage sector. Brand founder Diana Ark Chen will join Core Home to lead sales, marketing, and innovation for BUBLUV.

• Fake meat may not be working…but veggies are. Actual Veggies has raised $7 million in a Series A funding round led by Relentless Consumer Partners. The company's veggie-forward frozen burgers and fries target $20M+ revenue in 2025, focusing on visible whole food ingredients rather than meat analogs. Currently in 7,000+ stores, they maintain a lean team of just eight full-time employees.

• The next gut health darling. Supergut, a leading gut health and GLP-1 nutrition brand, secured a significant growth equity round led by Austin-based Full Frame Growth Partners, following 172% growth in 2024. CPG veteran Tracey Warner Halama (who scaled Vital Proteins through Nestlé acquisition) is joining as CEO, with plans to double retail presence to 12,000 doors in 2025 and truly own the gut-health category.

• PLTFRM acquired Presence Marketing, a leading natural products brokerage firm, ahead of the Natural Products Expo West. This acquisition positions PLTFRM as a significant player in the natural products industry, expanding its sales and marketing capabilities.

• Bone Broth is big business. Kettle & Fire, a bone broth company, secured a $43 million secondary buyout led by Colter Ventures. Colter was started by Sam McBride, former COO at RXBar and has invested in brands like Cure Hydration, Open Water, 4th & Heart, Olipop, and Mush.

• One size fits all. Shop Circle raised $60 million in a Series B funding round led by Nextalia Ventures to expand its suite of eCommerce applications, which aims to streamline various services for online merchants.

Weekly Pickups

The Fishwife Cookbook!!! It is absolutely gorgeous and full of incredible tinned fish recipes that will elevate any meal or snack sesh. They’re going on tour around the US—check to see if your city is on the list (because who can resist a tinned fish cookbook celebration?).

See ya next week!

Nate + Jenna :)

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