The beauty market is poised for strong growth: L’Oréal’s CEO expects industry sales to reach over $425 billion by 2030. But the growth will be concentrated among sustainability-focused brands.
This year’s Groceryshop 2023 event in Las Vegas focused on marrying in-store and digital experiences, the growing retail media wave, and the benefits of personalizing messaging based on each consumer’s motivations, among many other takeaways. All of that comes as US food and beverage retail sales are expected to reach $1.378 trillion this year and surpass $1.578 trillion in 2026, according to our June forecast.
Uber Eats looks to expand its customer base: It plans to begin accepting SNAP benefits next year, as well FSA Cards, Flex Cards, and relevant waiver payments.
On today's podcast episode, in our "Retail Me This, Retail Me That" segment, we discuss how younger Gen Z consumers are most likely to discover grocery products, whether this new wave of celebrity-backed brands is different from previous ones, and what social media's role in all of this is. Then, for "Pop-Up Rankings," we rank the four elements a celebrity- or creator-led consumer packaged goods (CPG) brand needs to succeed. Join our analyst Sara Lebow as she hosts analysts Blake Droesch and Carina Perkins.
Price hikes helped General Mills offset a slowdown in demand: CEO Jeff Harmening noted that while consumers have been resilient, they’re increasingly cautious.
Quick-commerce companies face shrinking valuations as investor interest cools: Jokr’s valuation fell nearly 40% in its latest funding round, while Getir’s could plunge by as much as 80%.
Amazon explores standalone subscriptions as Prime user growth slows: The retailer could roll out separate grocery and healthcare membership services as early as this year.
Retailers face growing scrutiny into pricing practices: Missouri’s AG is joining the fray with a suit against Dollar General over deceptive pricing, as governments worldwide step up oversight.
US consumers kept spending in August: But there are signs that how and where they’re willing to open their wallets is changing.
Lidl, Aldi see UK market share gains stall as competitors cut prices: Both discounters will continue their aggressive expansion strategies in a bid to reach shoppers still struggling with the cost-of-living crisis.
What does artificial intelligence taste like? Coca-Cola launched a new soda conceived and designed by AI as the company goes deeper into exploring the tech.
Walmart rolls out late-night express delivery: The retailer’s relentless focus on offering more convenient ways to shop is winning it more customers and market share.
Instacart faces stiff headwinds: While growing its advertising and technology businesses have helped it overcome slowing delivery growth, that strategy may not be sustainable.
Smucker swallows up more of the snack market by buying Hostess: With consumers pulling back due to rising prices, food companies like Smucker turn to acquisitions to spur growth.
Price matters to everyone, but ease and convenience play an even bigger role in purchase decisions. Plus, retailers should consider revamping their apps to garner more sales and use their target audience to guide in-store and online strategies.
Kroger’s sales sag as grocery prices stabilize: That new state of play could drive the grocer to look to high-margin retail media to drive growth.
Instacart rolled out several updates to its Instacart Storefront platform: It added AI-powered conversational search and an in-store mode to its omnichannel digital commerce platform.
Richemont targets fragrance market as luxury demand begins to waver: The luxury retailer is looking for ways to scale its perfume business and grow share in a highly competitive sector.
Sweetgreen is in a very different position than it was prepandemic: Both its menu and physical footprint are evolving as it looks to widen its potential customer base.
Fewer than a third of US shoppers turn to department stores’ websites (31%) or brick-and-mortar locations (24%) when conducting beauty research, according to a May survey conducted by PowerReviews. In contrast, 71% turn to a specialty retailer’s website when researching new products.