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Express Checkout #51 - the latest in CPG, Retail, and eComm

Commerce and CPG news from the week of 11/20/2023

Author

Nate Rosen
November 27, 2023

Hello hello!

Today marks 1 year of doing Express Checkout. One whole year of writing a weekly email. I gotta say, I’m impressed with myself.

Thank you for reading and sticking with me! The feedback I've received has been perfect and exactly in line with what I set out to do. Your support and engagement means so much to me. Stay tuned for more exciting updates and news in the future! 2024 is going to be a fun one for Express Checkout!I appreciate you all!! (reach out if you want to collab!) 🙏 

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Doris Dev truly does incredible work, I even had them do some mockups for an idea I have, but I’m keeping that in my back pocket for now 👀… But seriously, I know they’re this weeks sponsor but I’d recommend them regardless. They’re a super-talented crew!!

I’ll be out in Marina del Rey, CA on Nov 29 - Dec 2nd for NOSH Live. Let me know if you’re going to be there! You can still get a ticket here

Shops Around The Corner was featured in Beauty Independent! Read the article here – If you’d like a PDF of the article, please message me!

If you haven’t seen it, Shops Around the Corner is an online platform that Emmy Oleary and I made. It’s dedicated to celebrating and promoting independently owned shops, showcasing the charm and uniqueness of these small businesses.

(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 🔥

  • Kim K gets spicy - SKKY Partners, a private equity firm run by Kim Kardashian, has acquired a significant minority stake in TRUFF, a brand known for its truffle-infused products. The founders of TRUFF will continue to lead the company, and Mark Ramadan, former CEO of Sir Kensington's, will join the board. (source)

  • Saks gets their allowance - Saks owner, Hudson's Bay Company, raised $340 million after chronic late payments to vendors led to halted shipments. The funds will be used to support and continue the company's retail operations. (source)

  • Black Friday Goes Brrr - Looks like this year was a win! Black Friday online sales in the US reached a record $9.8 billion, up 7.5% from last year. Salesforce reported that global online sales on Black Friday totaled $70.9 billion, with 79% of shopping traffic conducted on mobile devices. The growth in e-commerce sales provides a positive outlook for retailers amid overall sluggish growth in the industry.

🗞️ News from the week (11/20/23 - 11/26/23)

🛍 Retail

  • Big Lots has partnered with Uber Eats to offer delivery services from its 1,200+ stores. Uber Eats has been partnering with non-food retailers, including Office Depot, PetSmart, Staples, Party City, and Bed Bath & Beyond. (source)

  • RH announces the opening of RH Indianapolis, The Gallery at the DeHaan Estate, a design and hospitality destination featuring a restaurant, wine bar, terraces, art installations, and an interior design studio. The property, spanning 151 acres and over 60 rooms, showcases items from RH, along with rare art and artifacts. It’s insane. (source)

look at that beauty

  • Nordstrom reported third-quarter profit that exceeded expectations, but sales declined across both its banners. Nordstrom continues to expand its off-price Nordstrom Rack banner, opening 11 new stores and announcing plans for an additional 17. (source)

  • It’Sugar has opened store-within-a-store in Macy’s flagships in Chicago and Miami. It’Sugar also plans to open an 18,000-sq.-ft. store in Miami and an 8,500-sq.-ft. location in Nashville in 2024. (source)

  • Target is testing a new self-checkout policy to shorten wait times and understand shoppers' preferences. They have restricted self-checkout to customers buying 10 items or fewer, while those buying more are required to use full-service lanes. (source)

  • Rally House has opened a new store in Kansas City, offering a wide range of pro and college team gear, as well as local gifts inspired by the city. (source)

🛒 CPG & Consumer Goods

  • Disco, a male-focused skincare brand, filed for Chapter 7 bankruptcy. The brand struggled to resonate with men at scale and faced rising customer acquisition costs and an apparent overreliance on its hero product, the Repairing Eye Stick. (source)

  • Obayaty, a men's cosmetics line, is launching globally on November 29th. The brand aims to offer a modern and fresh interpretation of masculinity and promote a new beauty routine for men. The introductory collection includes skincare products and color cosmetics. (source)

  • A minority shareholder of Tree House Brewing Company has sued two of its founders, Nathan Lanier and Damien Goudreau, in Superior Court, alleging a misuse of company funds. (source)

  • A Florida House Republican has proposed a bill that would ban the sale, distribution, and manufacturing of lab-grown meat in the state. (source)

  • AMC Theaters has partnered with Hidden Valley to introduce a limited-time zesty ranch flavored popcorn. (source)

  • Veso Aperitifs has partnered with Evie to create a limited edition dry vermouth, perfect for martinis and negronis. The bottle will be launched on December 5th, with only 300 bottles available. (source)

  • NextDay drinks are now available at various 7-Eleven locations in greater Pittsburgh, PA. NextDay is a recovery beverage ****that is supposed to help people feel better after drinking alcohol…. I can confirm, it does help 😬 (source)

💻️ eCommerce

  • Pietra has launched a new set of product design tools that utilize generative AI to create product options. The tools promise to expedite the process from concept to product in just weeks. You can try it for free at www.pietrastudio.com. (source)

  • GoodwillFinds has announced a strategic partnership with Seel, an e-commerce return platform, allowing customers to return any item purchased on GoodwillFinds.com within 7 days. This partnership enhances the customer experience and enables GoodwillFinds to compete with other digital resale websites. (source)

  • Amazon has reportedly formed a dedicated team to train an ambitious AI model codenamed 'Olympus'. (source)

🏭 Supply Chain

  • Unilever is laying off 169 employees at its manufacturing sites in Amityville and Farmingdale, New York, as part of its organizational model to support growth plans and simplify the business. The company plans to shutter the plants and move production to other US manufacturing sites due to size constraints. (source)

  • DHL and AutoStore are expanding their partnership. DHL is already involved in nine AutoStore projects with four more in planning, making them one of AutoStore's largest 3PL clients. The partnership has resulted in a fleet of over 1,000 robots that have improved operational efficiency and throughput in DHL's fulfillment warehouses. (source)

  • Matheson Flight Extenders (MFE), a mail processing and logistics contractor, plans to lay off over 450 employees and close its mail sorting facilities in California amid a financial dispute with the U.S. Postal Service. (source)

  • Walmart is introducing parcel stations in stores to help speed up delivery. The parcel stations allow customers to place online orders for a greater assortment of merchandise with Next Day Delivery. For associates, it makes distributing online orders more efficient. Walmart plans to have over 40 parcel stations in stores by the end of the year. (source)

💸 Funding news

  • Jibby has successfully closed their crowdfunding campaign, raising over $450,000. The brand aims to create beverages that support overall health by infusing fairtrade organic matcha, collagen, mushrooms, superfoods, and other beneficial ingredients. (source)

  • eBay Inc. has announced its support for the voluntary tender offer led by Permira and Blackstone to acquire Adevinta. As part of the transaction, eBay would sell 50% of its shares for approximately USD $2.2 billion in cash and retain a 20% ownership stake in the newly privatized company. (source)

  • 4th & Heart has raised $10 million in a growth equity investment to scale its ghee stick production. The investment was led by Cambridge Companies SPG and included participation from Boulder Food Group, Harbinger Ventures, professional athletes, and food industry operators. (source)

  • Finnish startup Solar Foods has raised $8.8 million in a Series B round led by Springvest. The company produces a protein-packed ingredient called Solein by feeding microbes elements from the air. (source)

  • Spirited Brands Holdings, a premium, female-owned beverage innovation company, has closed a $4.5 million seed round to launch its two low-alcohol canned cocktails, Soké and Soula. (Source)

  • Toronto-based AI company Birdseye has raised $3 million in seed funding led by Drive Capital. The company provides solutions for the retail and e-commerce industry, using AI algorithms trained on retail transaction data to execute hyper-personalized campaigns. (source)

🧐 Interesting reads

💡 Data, reports, and trends

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

Nate :)

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