The lipstick effect powers Ulta Beauty past $10 billion in revenues: Despite trade-downs elsewhere, consumers’ appetite for premium beauty brands continues to grow. (This article was written with the assistance of ChatGPT.)
Canadian grocers’ profits are up: Canadian lawmakers put executives in the hot seat to understand why they’re doing well when high grocery prices are pinching Canadian consumers.
US gov’t puts onus on Big Tech for cybersecurity strategies: Long-term national cybersecurity is now spread out across Big Tech; civil society; and local governments at a time of heightened ransomware, but lack of oversight threatens to delay progress.
Federal judge orders Starbucks to stop union-busting tactics: But the company may not capitulate so easily, even as uneasiness grows among corporate employees.
Consumers have shifted more their spending to dining out: But while restaurant industry sales are expected to rise 6.4% this year, the industry faces several challenges.
Retail media will be a $45 billion market this year and will continue to grow by about $10 billion in 2024, according to our forecast. Currently, the majority of retail media ad spend is driven by search. But the next phase will be driven by upper-funnel formats and in-store ad opportunities.
Instacart’s revenues and profits spiked in 2022, helped by its growing ad business: That could speed up the timeline for the grocery delivery company’s long-awaited IPO.
Instacart taps ChatGPT to further streamline online grocery shopping: The delivery platform is launching a new feature that lets customers “Ask Instacart” for assistance during their shopping journeys.
Ocado’s losses grew in FY 2022 as record grocery inflation drove consumers to buy less: The online grocer and tech provider posted a pre-tax loss of £500.8 million as it struggles to keep pace with competitors.
This year, we forecast retail sales of cosmetic and beauty products will reach $86.42 billion, a 7.6% increase from 2022. This increase will be driven in large part by in-store sales and luxury beauty categories. But going forward, technology may play a large role in driving online sales.
Forty-four percent of US adults plan to spend their normal amount on health and beauty products this year, according to a MetaPack survey. More than two-thirds said they’re not changing their spending on apparel (39%) or on DIY and gardening (34%).
Several UK grocers institute fruit and vegetable rations: The UK’s fruit and vegetable shortage could prolong the country’s cost-of-living crisis. (This article was written with the assistance of GPT-3.)
Emergency SNAP benefits expire in 32 states next week: That could result in a significant loss for grocers like Walmart and Kroger since SNAP spending can account for a significant share of sales.
Price increases hurt Domino’s Pizza delivery sales volume: However, it also helped the pizza chain improve its profit margins.
The banking arm of the UK’s biggest supermarket chain could appeal to neobanks and help potential buyers scale quickly.
Walmart benefited from shoppers’ growing thriftiness: The retailer continues to gain market share in grocery, including among higher-income households.
McDonald’s introduces plant-based McPlant Nuggets in Germany: The fast-food giant, which developed the product with Beyond Meat, said it may expand availability into other markets based on customer demand.
There’s a notable shift in where consumers buy groceries online: Mass merchants are attracting more monthly active users while grocers see their numbers decline.
DoorDash has 50% more DashPass subscribers than it did a year ago: Growing that subscriber base should help it drive customer retention and boost basket sizes.
Aldi’s UK hiring spree signals inflation’speak: The grocer plans to add 6,000 employees in the market throughout 2023.