Tyson Foods reports steep drop in profit as inflation causes consumers to buy less meat: The company blamed a glut of protein in the market for its disappointing Q1 results.
Hashtag ‘#deinfluencing’ tops 68 million views on TikTok: The trend involves telling consumers what not to buy, pushing back against overconsumption and inauthentic creators.
Mediterranean QSR chain Cava looks to go public: That would make it the first restaurant company to make its public market debut this year.
Amazon is rethinking its grocery business: The retailer is putting Fresh expansion on hold as it tries to strike a balance between innovation and value.
Strong North American sales helped Starbucks overcome a steep COVID-19-related drop in China: But the company’s decision to devalue its rewards program coupled with its unchanging anti-union stance could come back to bite it.
Sick of disappointing retail news? So are we. Just like we’re sick of paying $6 for a carton of eggs. Some good news: US employers added 30,000 retail jobs in January, offering a big boost after a sluggish second half of 2022, when retail jobs fell for three consecutive months from September to November and were stagnant in December. Here are some more positive indicators.
Estée Lauder is betting on Chinese tourists to help return it to growth: But recession fears in the US and Europe could hinder a full recovery.
Magic Spoon eyes offline growth: The D2C cereal brand, which first became available at some Target stores last summer, will soon be on shelves in more than 6,800 stores nationwide.
Grocers are less willing to put up with price hikes as inflation eases: Whole Foods is the latest retailer to ask suppliers to lower prices to relieve pressure on consumers.
Amazon institutes delivery fees for most Amazon Fresh orders: The move should offset some fulfillment costs, but could also drive shoppers to cheaper grocers.
Plant-based meat sales fell last year: The challenging environment is driving Impossible Foods to reportedly cut about 20% of its staff.
Pet sales are on the rise (thanks, in large part, to inflation). Consumers, who are increasingly shopping online, are seeking out premium health and wellness-focused products for the furry members of their family.
Walmart is undergoing a “much broader shift,” said our analyst Sky Canaves on our “Behind the Numbers: Reimagining Retail” podcast. Where Walmart was once seen as primarily a retailer, it’s pivoting into tech and services. Walmart’s business remains rooted in grocery, but through its retail as a service and Walmart+ offerings, it’s expanding that flywheel.
As many as 25 celebrities and influencers have launched beauty brands over the course of the last three years, according to Business Insider. While some (like Rare Beauty by Selena Gomez) have exploded, others (particularly those founded by social media influencers) are having a hard time finding their footing. What does it take to build a successful celebrity beauty brand?
Procter & Gamble is determined to push through price hikes: Despite falling sales volumes and softening demand, the CPG giant plans to continue raising prices to cover its costs.
Amazon-owned Whole Foods is in expansion mode: While its parent company looks to cut costs, the high-end grocer sees an opportunity to attract consumers as they return to in-store shopping.
Gen Z will represent 20% of the US population in 2023, and nearly 40 million of these Gen Zers are adults. This is the data you need to understand how to reach them—and tap their growing buying power.
UK shoppers are buying fewer groceries online: With prices rising at the fastest rate in 40 years, consumers are changing their spending habits.
Google’s new shelf-checking inventory aims to fill a clear need: However, it will likely be a few years before it is ready for prime time. (This article was written with the assistance of GPT-3.)
Moda Operandi banks on beauty to help shore up revenues: But slowing ecommerce growth and stiff competition could limit its potential.