Express Checkout #46 - the latest in CPG, Retail, and eComm

Hello from sunny LA! 😎

I've had a busy week! I co-hosted my first NYC TechWeek event with Zehra and Johnnie at Happier Grocery. Excited to host many more events! Please reach out if you’re interested in hosting one with me 🙂

I’ve also been on the move, jetting off to Austin for Marketing Land and cohosting two amazing events. But the adventure didn't stop there. I then hopped on a plane and landed in LA for Foundermade West.

I also have some events coming up, check them out here 👇

• 💙 On Nov 3rd, members of the DTC community are hosting a Shabbat dinner fundraiser in NYC in support of UJA Federation of New York, which provides humanitarian resources in Israel and the Middle East. There is limited space, and though you do not need to be Jewish to attend, brands will be prioritized.

  • Dinner is free, though there is a suggested donation of $108 for all attendees. For more information, please see this link

• 🌴 I’ll be in Santa Monica November 13th for a Founders Dinner hosted by Parker, Jess Cervellon, Joseph Seigel, and me! RSVP HERE!

• 🌆 Catch me in Chicago November 15th for MID COAST ECOM SPARK, a conference put on by the great Jess Cervellon and Dillon Duchesne! RSVP HERE!

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

🔥 Big News - 10 items or less 🔥

🗞️ News from the week (10/16/23 - 10/22/23)

• Jelly Belly acquired - Ferrara Candy Company has announced its agreement to acquire Jelly Belly Candy Company. The acquisition will combine Jelly Belly's more than 100 flavors of jelly beans, including the infamous booger flavor, and specialty confections with Ferrara's portfolio of candies. (source)

• Pharmacy Fallen - Rite Aid has filed for Chapter 11 bankruptcy protection and plans to sell part of its business to restructure while dealing with losses and opioid-related lawsuits. The company will continue to fill prescriptions and operate its stores during the process, but it will also accelerate the closure of underperforming stores. (source)

• Goop is introducing, Cheaper Goop - Goop, the infamous lifestyle brand founded by Gwyneth Paltrow, is launching a new skincare line called good.clean.goop at Target and Amazon. Unlike Goop's high-priced skincare line, the products in this collection retail for under $40. (source)

• Reviews run amok - Amazon, Booking.com, Expedia, Glassdoor, Tripadvisor, and Trustpilot have formed a global Coalition for Trusted Reviews to protect access to reliable consumer reviews worldwide. The coalition aims to define best practices for hosting reviews, share methods to detect fake reviews, and collaborate on public education and information sharing to combat review fraud. (source)

• Nike gets swol 💪 - Nike has launched a line of premium strength training equipment called Nike Strength, including dumbbells, kettlebells, barbells, and squat racks. This move is part of Nike's broader focus on fitness and wellness, which includes opening boutique fitness studios and offering streaming workouts. (source)

🛍 Retail

• Costco has announced that Craig Jelinek will step down as CEO, effective Jan 1, 2024. Ron Vachris, the current President and Chief Operating Officer, will take over as the new CEO. (source)

• Claire's has announced the relaunch of its loyalty program under a new name and brand identity called C.CLUB. (source)

• New York has updated its liquor laws, allowing liquor stores to open for 12 hours on Sundays and extending the duration of alcohol licenses. The new legislation aligns the hours for alcohol sales in retail stores with those of restaurants and bars. (source)

• Outerknown, the sustainable apparel brand founded by surfer Kelly Slater, plans to open four new stores in the U.S. by next spring. Three of the stores will be located in California, while the fourth will be in Washington, D.C. (source)

• Banana Republic has opened a new flagship store in San Francisco's Union Square, marking its move into lifestyle with the launch of its home goods line, BR Home. (source)

• Z Gallerie has filed for bankruptcy, citing severe liquidity constraints due to underperforming retail stores, adverse macroeconomic trends, and industry-specific challenges. The company estimates its liabilities to be between $50 million and $100 million, owed to 200 to 999 creditors, with assets on hand between $50 and $100 million. (Source)

🛒 CPG & Consumer Goods

• SharkNinja is being sued for claiming that their cookware can reach temperatures of up to 30,000 degrees Fahrenheit… hotter than the surface of the Sun. The lawsuit argues that this violates the laws of physics and thermodynamics. (source)

• According to a report, conflicts of interest have compromised the advisory committee for the USDA Dietary Guidelines for Americans, with members having financial ties to food, beverage, pharmaceutical, and weight loss industries. (source)

• Victoria's Secret has launched a collection of bras and panties specifically designed for women with disabilities. The adaptive line includes features such as magnetic closures, sensory-friendly fabric, and fully adjustable straps. (source)

• Wonderbelly, a DTC over-the-counter antacid brand, has expanded its presence in Target stores from 650 to over 1,800 nationwide. (source)

• Meati Foods has entered the plant-based snacking category with the launch of its mycelium-based jerky. Unlike competitors, Meati does not embrace the "plant-based" label. (source)

• Popeyes has introduced a new collaboration with Truff, a truffle-based condiment brand, resulting in the Spicy Truff Chicken Sandwich. This is not the first time Truff has collaborated with a fast food brand, they recently collaborated with Taco Bell as well. (source)

• Emmy- and Golden Globe-nominated actor Issa Rae has partnered with E. & J. Gallo Winery to launch Viarae, a new Prosecco brand. (source)

• Hollywood actor Jean-Claude Van Damme has launched his own Irish whiskey brand called Old Oak. The portfolio includes a three-year-old blended Irish whiskey and a five-year-old blend finished in a rum barrel. Van Damme co-owns the brand with Kevin Carson and other investors. (source)

• RTDs, they’re so hot right now

  • Diageo has launched a range of premium RTD cocktails, including a Cosmo, an Espresso Martini, and a Negroni. (source)

  • The Coca-Cola Company and Pernod Ricard are releasing an Absolut Vodka & Sprite as a RTD pre-mixed cocktail in 2024. The cocktail will be available in select European countries and will feature Absolut vodka and Sprite or Sprite Zero Sugar. (source)

• The J.M. Smucker Co. has announced an agreement to sell its fermented food condiment brands in Canada, including Bick's pickles, Habitant pickled beets, Woodman's horseradish, and McLarens pickled onions, to TreeHouse Foods, Inc. The all-cash transaction is valued at approximately $20 million USD. (source)

• Israeli startup Novella is developing intact-cell berry compounds grown outside of the plant using precision-controlled-environment technology. By extracting the nutrients without using the entire plant, Novella aims to introduce a new supply channel for nutraceuticals. (source)

• The company behind Food Should Taste Good and Real Food From the Ground Up has introduced a new house of brands identity called Our Home™. (source)

• BetterBrand is expanding into the UK, debuting three SKUs of its Better Bagel product exclusively at Whole Foods locations. (source)

• ZOA Energy has launched a new product called ZOA+ Powder, a 5-in-1 advanced formula pre-workout supplement designed to enhance performance and mental focus. (source)

💻️ eCommerce 

• Amazon has introduced a new mobile shopping experience called “Consult-a-Friend,” which allows customers to request and manage feedback from friends on products within the Amazon Shopping app. (source)

• Etsy has partnered with Payoneer to expand its Etsy Payments service, allowing sellers in Thailand and Ukraine to receive payments in their local currencies. The company plans to include Japan, Chile, Argentina, Peru, and India (export sales only) in the future. (source)

• Live commerce platform TalkShopLive has launched its new Studio app, providing creators and brands with a range of management and broadcast tools on mobile. (source)

• HomeGoods has closed its online store as of October 21, 2023. (source)

• Instacart and The Trade Desk have announced a partnership to enhance programmatic advertising for CPG brands. Pilot partners, including Beam Suntory and GroupM, will be able to build and activate Instacart-informed audiences across various media channels. (source)

• ThingTesting has released a new service that allows reviewers to try products for free! (source)

🏭 Supply Chain

• Keurig Dr Pepper will invest $100 million to expand its coffee roasting and manufacturing facility in South Carolina. The new investment is expected to create 250 new jobs, bringing the total staff count to approximately 400. KDP operates a portfolio of over 125 brands, including Caribou Coffee, Cinnabon, Gloria Jean's, Krispy Kreme, and Panera Bread. (source)

• Digital freight startup Convoy has announced its closure. The Seattle-based company, once valued at $3.8 billion, had downsized its workforce and was facing financial difficulties. (source)

• FedEx has announced its holiday shipping deadlines for domestic packages. Customers using FedEx Ground and FedEx Home Delivery have specific dates to ship by depending on the shipping speed they choose. The deadlines range from December 19 to December 22. (source)

• Stord, an omnichannel fulfillment provider, has launched a vendor delivery consolidation program aimed at reducing costs and complexity for smaller merchants shipping to big box retailer distribution nodes. (source)

• General Mills and Walmart have partnered to advance regenerative agriculture across 600,000 acres by 2030. (source)

💸 Funding news

• Eat the Change has raised $14 million in growth capital to expand the distribution of Just Ice Tea and test its Cosmic Chews snacks. (source)

• Tia Lupita Foods has raised $2.6 million in seed funding from Mexican investors, including Santatera Capital and GBM Ventures. (source)

• Vista Outdoor, the parent company of multiple sporting and outdoor brands, is selling its sporting products business to Czechoslovak Group for $1.91 billion. (source)

• Creative Force, an AI-powered content operations workflow platform for e-commerce retailers and brands, has raised $8.9 million in Series A funding from the Export and Investment Fund of Denmark and Hearst Ventures. (source)

• ergo, a New York-based repricing platform for online retailers, has raised $1.5 million in pre-seed funding led by Anthemis and Wischoff Ventures. (source)

• Transfix, a NYC-based intelligent freight platform, has raised $40 million in Series F funding led by New Enterprise Associates and G Squared, with participation from Canvas. Transfix connects shippers to carriers, providing real-time freight matching and visibility to optimize supply chains. (source)

🧐 Interesting reads

• TikTok-Hyped Halloween Decor Is Out of Control (Wired)

• Self-Checkout Is a Failed Experiment (The Atlantic)

• American Craft Beer Sales — and Influence — Fizzle Out Across the Atlantic (Vine Pair)

• How Gen Z’s ‘promiscuous’ relationship to beverages is changing the industry (Food Dive)

• ‘Andy Warhol’s biggest dream come true’: how cans became aspirational (The Guardian)

• #91: Elly Truesdell - The Whole Foods Forager to Venture Capital Managing Partner

• How Walmart Is Beating Everyone In Groceries (CNBC - YouTube)

💡 Data, reports, and trends

• Consumer Interest in AI Shopping Creates Online Grocery Opportunity (PYMNTS)

• Nestlé Says Grocery Shoppers Have Burned Through COVID Savings

• 2023 Deloitte holiday retail survey

😋 Brands and things I’ve tried this week

At Foundermade I got to try some fun products!

• PacPac Snacks Konjac jelly bites - I just loved the consistency, plus it tasted delicious!

• Coyotas cassava tortillas - seriously, the best GF tortillas I’ve ever tried. Really amazing!

• Sunbaked - a new sunscreen, it felt amazing on my skin!

Thanks for reading! If you have any suggestions, feedback, or stories I missed, let me know!

Nate :)

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