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- Express Checkout #83 - the latest in CPG, Retail, and eComm
Express Checkout #83 - the latest in CPG, Retail, and eComm
CPG and Retail news from the week of 7/15/24
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Hello hello!
Is everyone still standing after Prime Day 2024? This Amazon Prime Day was apparently largest shopping event in the company's history, with record-breaking sales of ~$14.2 billion and the highest number of items sold. Independent sellers, including SMBs, sold over 200 million items.
Some other interesting stats:
Sales are up 11% YoY.
Back-to-school-related accessory sales are up 216% and spend on kid’s apparel was up 165%.
Buy-Now-Pay-Later accounted for 7.6% of online orders.
Curbside pick-up was used in 18.9% of orders.
Mobile devices drove 49.2% of online purchases.
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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 (7/15/24 - 7/21/24)
🔥Big News 🔥
Overstock.com is back. The revived website will offer closeout, liquidation, factory direct, and reverse logistics merchandise, plus a wide range of categories.
Skater bros, unite. EssilorLuxottica acquired Supreme from VF Corporation for a cool $1.5 billion…in cash. VF thought it would be a cash cow—clearly, they thought wrong.
The other reason EssilorLuxottica is making news? It owns Ray-Ban…a brand Meta has been eyeing for a stake.
🛒 CPG & Consumer Goods
Yet. Another. Hydration powder. Everlane founder Michael Preysman launched a new company called Magna, a DTC magnesium hydration powder. Innovative, right? 🙃
My take? Don’t get me wrong, this brand looks solid. But it’s been 13 years since Preysman launched Everlane (a genuinely innovative brand), and this feels…disappointing. Do we really need another one of these stick-pack brands?
RTD caffeine is all the rage…and that’s why Bloom Nutrition launched Bloom Sparkling Energy, their first canned beverage!
I’m here for it. A wellness company with clean energy drinks in the Celsius era? No-brainer. The caffeine market has seen steady growth over the past few years—just look at those charged drinks from Panera, Starbucks, and Dunkin’ (but maybe don’t tell your kids about them).
But it’s also unsurprising, given the fact that the maker of C4 energy drink, Nutrabolt, took a 20% ownership stake in Bloom earlier this year. 👀
Luxury goes affordable. IBG Brand Incubator has partnered with Family Dollar to launch a new haircare line called Crown Hair Society. This line offers nine luxury care products in affordable prices, ranging from $5-6.
This is REALLY interesting to me. It’s another data point in something that I’ve been seeing….consumers are price sensitive, especially in this market. Even luxury brands are apparently reducing prices in an attempt to attract middle-income shoppers who make up more than half of all luxury purchases.
That random girl from high school in your IG DMs might need a new job. Rodan + Fields, a hair and skincare brand, is officially moving away from a multi-level marketing approach and reconfiguring its corporate structure.
Barbie collabs are never over. Bumpin Blends released a limited edition smoothie inspired by Barbie: the Barbie Strawberry Dream Smoothie.
Bye-bye wine. Pernod Ricard has signed an agreement to sell its portfolio of international wines—a shift to focus on its premium international spirits and champagne brands.
New product launches:
Podium Nutrition is releasing its first protein snack, the Podium Protein Stroopwafel.
Daily Harvest launched two new dishes, Butternut Squash + Cauliflower Mac n' Cheeze and Sesame Fried Rice + Edamame. The Mac n' Cheeze is gluten-free and dairy-free.
Courtney Cox's home-care brand, Homecourt, expanded into the body care category with a new line of products.
Tower28 launched a new Daily Balancing SOS Cleanser for Sensitive Skin.
💻 eCommerce
5 stars for justice. Amazon and the Better Business Bureau filed a joint lawsuit against ReviewServiceUSA.com, which was involved in selling fake positive reviews.
Refunds just got easier. A new refund platform called Reshop just launched. They already partnered with retailers like Steven Madden and Alo Yoga. Shoppers can opt to receive their refund on a virtual prepaid Reshop debit card or have it deposited into their bank account.
Grocery delivery is booming. U.S. eGrocery sales reached $7.7 billion, representing an 8% increase compared to the previous year.
🛍 Retail
Urban Outfitters is going all-in on college. The company is launching a major back-to-campus campaign for its dorm gear—capitalizing on the absence of historically college-focused competitors like Bed Bath & Beyond.
Khaadi, a Pakistani fashion brand is expanding into North America with its first stores in the U.S.
The Amazon expansion continues, with Amazon Fresh set to open a new store in suburban Chicago.
Some think Amazon could improve its struggling grocery business by expanding through acquisitions and opening more stores.
Whole Foods fights against food waste. The company partnered with Too Good To Go in a national effort to reduce food waste. Customers can now purchase Surprise Bags of surplus food items from over 450 Whole Foods Market stores across the US through the Too Good To Go app.
Store intelligence just got smarter. Simbe launched Simbe Mobile, a configurable mobile app that offers store teams prioritized inventory and pricing tasks, and Simbe Virtual Tour, a feature that provides retailers HD, 360-degree views of their store interiors.
🏭 Supply Chain
Hi-Chew grows in the US. The candy manufacturer is expanding its US presence, adding a second plant and is set to invest more than $130 million towards the 132,633-square-foot site
💸 Funding news
Shaped.ai, a provider of an AI recommendation and search platform, has raised $8M in Series A funding led by Madrona Ventures.
Cart.com, a provider of unified commerce and logistics solutions, has secured a $105M debt refinancing facility from BlackRock.
Stories & Ink, a tattoo care brand, has secured $1.6 million in funding to support its growth plans.
Tattoo care seems to be picking up in popularity, with brands like Mad Rabbit and even The Rock’s PAPATUI brand
City Bonfires® has been acquired by Back Home Products, a licensee of The Coleman Company, and has unveiled a new line of Coleman grills.
Coldcart, an optimization platform for frozen and refrigerated parcel logistics, has raised $6.5 million seed financing round led by Collide Capital.
🧐 Interesting reads + data
Why consumer trends aren’t what you think they are… 👀
What’s the deal with discarded spirits?
It’s officially back-to-school season…and here’s your summer reading:
How are consumer products and retail executives using AI? This report has your answer.
Plot twist: Brand leaders are investing more in ecommerce, despite economic uncertainty.
Gen Z’s snack and beverage consumption remains a mystery to most. Here’s what you need to know.
😋 Brands and things I’ve tried this week
Immi sent over their brand new toppings! I am a HUGE fan of their noodle packets. The protein content really makes it feel like a full meal.
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Thank you Top Fox snacks for sending over SO MANY treats!
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This one, this is surprisingly real. And yes, it has caffeine! 60mg per serving!
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Nate :)
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