“Amazon is in such a unique position to give us an idea of broader consumer sentiment because of their scale and reach,” our analyst Sarah Marzano said on an episode of the “Behind the Numbers: Reimagining Retail” podcast. This year, nearly three-quarters (72.7%) of all US households will be Prime members, according to our July 2024 forecast. “If we examine the behaviors that emerge from Prime Day, we get a good sense of how consumers are feeling.”
CPGs stick with price hikes despite private label pressures: Unilever and Nestlé were the latest companies to report disappointing Q2 sales as shoppers seek value.
Retail foot traffic is bouncing back, especially in malls, thanks to diverse tenant mixes and engaging experiences that attract shoppers, Ethan Chernofsky, senior vice president of marketing at Placer.ai, said during a recent EMARKETER webinar. The pandemic’s lasting influence has also changed how we shop, with more people visiting multiple grocery stores for the best deals and quality, while small-format stores are helping retailers meet local needs.
Albertsons’ same-store sales rose 1.4% in Q1: The grocer expects headwinds due to the confluence of rising labor costs, declining margins, and the cycling of food inflation.
McDonald’s $5 meal deal boosts traffic: The company plans to seize on those gains by extending the offer as it looks to bolster “affordability plans” through the rest of the year.
Consumers’ hunger for restaurant meals continues into 2024: Our Industry KPIs data shows healthy demand for QSRs and fast-casual operators as diners look for deals.
Three in four spend more money as a loyalty member: Straightforward, easy-to-understand loyalty programs drive customer acquisition and keep shoppers coming back.
The celebrity beauty boom isn’t over yet: Sales for brands like Rare Beauty are growing faster than the overall market, although not every A-list launch is a surefire success.
Pret-a-Manger ditches free coffee subscription, to customers’ dismay: The chain will switch to a cheaper model that it says will offer better value to a larger audience.
US, UK consumers’ drinking habits have changed: UK sales of no- and low-alcohol beer soared during the UEFA Euro 2024 as many avoided overindulging during the week.
PepsiCo and Conagra temper outlooks as they struggle with consumers’ shrinkflation concerns: Sales volumes for both companies fell as private labels capture record dollar and unit share.
Walmart looks to grow its online grocery lead: The retailer is modernizing its supply chain by opening five automated distribution centers for fresh food, expanding four traditional facilities, and upgrading another.
Kroger leans into value: The grocer is hosting a big sale about a month before a crucial court hearing on its proposed merger with Albertsons.
Gen Alphas’ anti-aging skincare regimen causes concerns: Brands and retailers are under pressure to disclose product risks as tweens copy their favorite beauty influencers.
Retail marketers should focus on brand marketing to combat consumers’ desire for value. That was the main theme from General Mills, Nike, Levi’s, and more brands’ recent earning calls. Oh, and if you can get Beyonce to name a song after your brand, even better.
The nation’s largest fast- food chains race to the bottom: Taco Bell and Sonic joined Starbucks, McDonald’s, Burger King, and Wendy’s in rolling out low-cost value meals to attract cost-conscious consumers.
CPGs respond to growing divide between lower-income and wealthy spenders: While General Mills and others boost promotions, P&G doubles down on premiumization.
L’Oréal blames weak China sales for slower global growth: While the company sees sluggish premium demand, mass market players are winning over price-conscious consumers.
Albertsons, Costco, and Instacart are enhancing their retail media offerings. TikTok Shop reached a $1 million livestream. And three-time consecutive first place winner Walmart is developing immersive ways to shop and catering product lines to younger shoppers. Here’s our Unofficial Most Interesting Retailers List for June 2024.
While intermediaries’ share of ecommerce sales (grocery or otherwise) will remain relatively flat for the next couple of years, they’re still a long-term threat to traditional retail. But there’s an opportunity for retailers to use intermediaries’ strategies against them.