Ghost kitchens disappeared as quickly as they came: Quality issues, consumer ambivalence, and shifting dining behaviors contributed to their downfall.
When we think about the brands that skyrocketed this year, some immediately come to mind, like ChatGPT and Shein. Some of the other names, however, might surprise you. Here are the top five brands that had the biggest rise in purchasing consideration this year, according to Morning Consult’s Fastest Growing Brands 2023 report, and what brands can learn from their ascent.
Many retailers are predicting that consumer spending patterns in 2024 could be similar to 2023—pulling back on discretionary categories and sometimes essentials like groceries. So far, discount and dollar stores have benefited from tightened consumer spending, but that success isn’t guaranteed in the new year. Here’s how three low-price retailers are planning to appeal to consumers and keep sales up in the months ahead.
As retail media evolves, ad placements off-site and in-store will help grocery advertisers reach shoppers in new and more engaging ways, but consumers may not be in a spending mood as credit card balances grow and savings accounts shrink. If Amazon can get grocery right, it may be able to fight off losing share to Walmart. But if the Kroger-Albertsons merger goes through, it could change everything.
Domino’s plans to hit $7 billion in global retail sales over the next five years
Amazon bets that Prime members will pay extra for free grocery delivery: The retailer is testing a grocery subscription add-on for $9.99 per month in its latest attempt to boost the appeal of its grocery business.
Grocery shoppers’ habits shifted in Q3: A new report found a 13.5% decline in sales across 25 US online grocery banners as consumers switched to in-store shopping or different merchants.
McDonald’s ambitious expansion plan includes a play for Starbucks customers: The fast-food chain plans to open nearly 9,000 stores by 2027—including 10 locations of new small-format concept CosMc’s.
US ecommerce sales will grow 9.3% to reach $1.137 trillion in 2023, per our forecast, thanks to cost-conscious consumers looking for better deals and an increasing number of digital grocery buyers. As 2023 wraps up, ecommerce will go out on a high note, with online holiday sales growth outpacing brick-and-mortar sales.
Navigating price increases isn’t easy for CPG brands: Higher prices didn’t dull consumers’ appetites for J.M. Smucker products like Uncrustables, but led Campbell Soup volumes to fall 5%.
The Ozempic effect could have wide-ranging implications beyond the food industry—if it exists: Apparel makers, beauty brands, and airlines could capitalize as GLP-1 adoption grows, but only if users stick to the meds.
Starbucks struggles without the PSL: Even the company’s banner Red Cup Day wasn’t enough to offset softening sales in November.
As consumers look for quick and convenient ways to shop, the number of click-and-collect buyers in the US will rise to 150.9 million in 2024, representing 53.1% of the population, per our December 2022 forecast.
Consumers’ tastes have changed: While McDonald’s has benefited from consumers’ growing thriftiness, it recognizes that improving quality is key to its long-term success.
Ulta Beauty is optimistic as beauty becomes a mainstay of wellness routines: Sales and transactions grew healthily during Q3, despite emerging signs of cost-consciousness.
Kroger delivers lackluster Q3 results: The combination of moderating food prices and consumers tightening their belts drove the grocer to cut its annual sales forecast.
Instacart partners with Peacock to fast-track membership growth: The move could help restore the delivery platform’s appeal in relation to DoorDash and Uber Eats.
On today's podcast episode, in our "Retail Me This, Retail Me That" segment, we discuss how Gen Zers discover products; where they stand on buy now, pay later; and how loyal they really are to brands. Then, for "Pop-Up Rankings," we rank three campaigns that really worked with Gen Z. Join our analyst Sara Lebow as she hosts analyst Arielle Feger and editor Catherine Ollinger.
Ecommerce hasn’t overtaken physical stores: An excerpt from our recent report explains how retail stores stack up against digital channels in driving new product discovery and conversions.
Walmart’s grocery, ecommerce business powered it through another solid quarter: The retailer’s emphasis on value and convenience are helping it win market share, even as shoppers exhibit more signs of price sensitivity.