Express Checkout #90 - the latest in CPG, Retail, and eComm

Hello hello!

This weekend, I was blessed to witness the gorgeous wedding of my friends out at Wölffer Estates in the Hamptons. But more importantly…I got to try the new Poppi flavor! Cherry Cola. Our Airbnb had mixed feelings, but I, the self-proclaimed Snack King, loved it.

Curious how it was already on shelf at a tiny store in Sag Harbor? I was too. Found out it was all thanks to Rohan Oza, who used to have a home out in Sag Harbor. Rohan is best known for building iconic consumer brands like Vitaminwater, Vita Coco, Bai brands, and WTRMLN WTR. He also co-founded CPG venture fund, CAVU Partners in 2016. But his connection to Poppi came from his time as a guest Shark on Shark Tank!

This week brought to you by….

Now onto the news of the week!

(If you’re reading this email in Gmail, it might get clipped! You can always view full issues here.)

🗞️ News from the week (9/2/24 - 9/8/24)

🔥 Big News 🔥

• Second time’s a charm? 🤷‍♂️ Over the past five months, Foxtrot shut down all of its stores abruptly, filed for Chapter 7 bankruptcy, was reacquired by its founder, and has now reopened its Gold Coast location in Chicago, with plans to reopen in Chicago and Dallas.

  • So far, the reception of this news has been…lackluster. Brands, vendors, customers, and former employees are (rightfully) not thrilled after Foxtrot (royally) screwed them over. 👇️ 

• The C-store is worth way more. Seven & i Holdings, the parent company to Japanese retail giant 7-Eleven, rejected Couche-Tard's $39 billion buyout offer, stating it "grossly undervalues" the company.

• Time to go to…Cracker Barrel? After 14 long-ass years, Altoids Sours are making a comeback—but there’s a catch. They’ll be available exclusively at…Cracker Barrel. The original recipe was acquired by Iconic Candy, LLC, and the new candy will hit shelves by the end of September 2024.

🛒 CPG & Consumer Goods

• A match made in heaven. Two Rivers Coffee partnered with Eggo to launch a new line of coffee flavors inspired by Eggo waffles, including Cinnamon Toast, Blueberry (my favorite), and Maple Syrup. Two Rivers Coffee focuses on flavor innovation, and is the leading independent single-serve beverage company in the US.

  • I went to their NYC pop-up a few weeks ago and got to meet the teams and Beanstalk, their licensing agency! CPG licensing deals have always been fascinating to me.

• Ghia’s best product to date. Ghia launched Le Fizz, its first large-format ready-to-drink aperitif in a 750mL bottle. The drink features a unique flavor profile with no bitterness and a tannic quality reminiscent of wine.

• Love me some kitchen organization. Mr. Lid launched two new lunch bento boxes, the Sandwich Container and the Deluxe Container, featuring optional removable divider inserts.

💻 eCommerce

• Merging online + in-store experiences. PayPal launched "PayPal Everywhere," integrating its debit card with Apple Wallet for in-store payments and offering cash back rewards, including 5% cash back on selected spending categories, and an auto-reload feature for PayPal balance.

• I still would want to know my size. Google introduced an AI-powered virtual try-on tool for dresses, allowing users to see how various styles look on models of different sizes.

🛍 Retail

• The grocery delivery battle is on. Amazon is expanding its third-party grocery delivery services to better compete with Walmart, launching same-day delivery in Seattle. Despite these efforts, Walmart still holds a significant lead in the grocery sector, capturing 20% of consumer spending compared to Amazon's 2.7%.

• Time to steal a football and some textbooks. Amazon's Just Walk Out technology is expanding to more NFL stadiums and university campuses this fall.

• Shapewear for men is here. Nordstrom is launching SKIMS Mens at The Corner, a pop-up shop at their NYC flagship, offering a range of mens underwear, loungewear, and essentials.

🏭 Supply Chain

• You get a meat stick, you get a meat stick! Chomps is set to open a new 300,000-sq.-ft. manufacturing facility in Mexico, Missouri, in 2025 to meet growing consumer demand—creating approximately 250 jobs.

• Hello Skynet. FedEx formed a partnership with Nimble Robotics to enhance FedEx Fulfillment using Nimble's autonomous 3PL model, aiming to scale operations and improve e-commerce capabilities.

💸 Funding news

• Yet another acquisition for the snack holding co. Our Home successfully acquired ParmCrisps from Hain Celestial Group.

  • Our Home owns brands like Food Should Taste Good, Popchips, and just last week bought PopSecret.

• Tropicana, watch out 👀. Perricone Farms acquired Natalie's Orchid Island Juice Company, uniting two leading juice brands. This merger will enable bi-coastal production, improved delivery, and innovation in product offerings.

• So many brands under one roof! BRANDED acquired Heyday to form Essor, a new digitally-native consumer packaged goods platform. Their portfolio will house brands such as Boka, Puracy, ZitSticka, FreshCap, and Iron Flask.

• Huge congrats to my friend (and this week’s sponsor)! Zamp secured a $10 million Series A funding round, led by Valor Equity Partners with participation from Venus Williams, Day One Ventures and other investors.

  • Subscribers can free sales tax service for the rest of the year—that’s 4 months of free registrations, filing, and compliance!

🧐 Interesting reads + data

• Modern day Consumer Reports. Despite how many impulse purchases I make, I’m a huge fan of informed purchasing. And so is my friend Kristiana. Her recent substack article dives into the importance of researching products, being particular about purchases, and valuing quality over quantity.

• The best day for online shopping coupons? Friday, with 19% of new coupons released on this day.

• What’s your favorite dupe product? TikTok Shop has definitely aided in the rise of dupe culture—especially during the ongoing cost-of-living crisis.

See ya next week,

Nate :)

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter or LinkedIn or TikTok

If you are enjoying my newsletter please share with anyone you think would benefit from it! 🙏