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.
Target is taking a page from Trader Joe’s: The retailer is adding over 20 new seasonal private label food items this fall, such as apple pie-filled cookies and honey-pumpkin goat cheese ravioli.
Key stat: 28.0% of Gen Z consumers have discovered grocery products via search engines, compared with 16.7% that have discovered products while browsing store shelves, per our forecast.
Instacart's IPO filing highlights its shift: From a grocery delivery service to a booming retail media platform covering 85% of the US grocery industry.
E.l.f. Beauty’s Naturium acquisition will double its share of the fast-growing skincare market: The company is looking to take full advantage of the lipstick effect as shoppers continue to splurge on beauty.
Hostess Brands wants to cash in on CPG acquisition boom: The Twinkie manufacturer is reportedly seeking a buyer as snack demand stays strong.
Boots leans into beauty: The UK retailer plans to open a beauty-only store that offers free consultations and skincare advice.
Indian startup Zepto bucks rapid grocery skepticism with $200 million funding round: But it’s proving to be an outlier in the quick-commerce space, as Getir and Gopuff both struggle to find a sustainable model.
Younger generations are more likely to discover new grocery products via social media and search engines.
The slowdown in discretionary spending hurt Petco’s Q2 results: The retailer’s supplies and companion animal business fell 9.4% YoY, and some shoppers are trading down to lower-priced food.
Shoppers will be able to get their pumpkin spice fixes earlier than ever this year: Starbucks, 7-Eleven, and more are hoping that an earlier launch will enable them to capture more sales from PSL devotees.
Coty’s revenues rose 16% YoY in fiscal Q4: While consumers pull back on discretionary spending in many categories, they continue to splurge on Coty’s beauty and cosmetics brands.
Instacart’s gross transaction volume grew just 5% in the first half: That’s a troubling number that can’t be glossed over by the company’s 30% revenue growth.
Lower-income consumers are feeling pinched: Although inflation is cooling, many are shopping discount stores for everything from basic necessities to groceries.
Estée Lauder has significant challenges: The combination of too much merchandise and weak travel retail demand is weighing on Estée Lauder’s results.
Farfetch embarks on major cost cuts as luxury demand continues to soften: The luxury ecommerce platform is laying off around 11% of its workforce and sunsetting its beauty business as it tries to stem losses.