Gen Z’s buying power is rapidly growing: Food and beverage companies looking to cater to the demo’s unique tastes can’t do so without incurring some risks, however.
Cosmetics and beauty make up a nearly $100 billion industry in the US, and next year more than one-fifth of those sales will come from ecommerce, according to our forecasts. In order to win over beauty shoppers, and Gen Z ones in particular, brands need to pay close attention to where their digital ad dollars go. Here are five charts to help you out.
JD.com, Alibaba bet on grocery as China’s economic recovery stalls: Both companies hope demand for necessities will offset slowing ecommerce sales.
Gen Z consumers of beauty and skincare products are most attracted to brands for their pricing (48%), samples (46%), and sustainability (44%), according to Bolt. Pricing is a bigger influence for older consumers, cited by 61% of those ages 18 and older.
Kroger brings retail media in-house: The grocer ended a yearslong partnership with Microsoft in a move that won’t be the last of its kind.
Some 22% of beauty retail sales worldwide will take place online this year, the most of any sales channel, per McKinsey. Physical specialty stores, such as Sephora and Ulta Beauty, will come in a close second (20%), while department stores will rank last (8%).
DoorDash adjusts its business model: The company will offer drivers the option to be paid an hourly wage at the same time that it makes several updates to its app.
General Mills posts mixed Q4 as retailers look to save on inventory: The company missed revenue expectations as sales volumes continued to fall in response to price hikes.
AI selects 70% of what Hungryroot’s customers buy: The technology was key to the online grocery and meal delivery company’s 50% growth last year.
Dollar Tree is adding more expensive items to store shelves: The move allows the discount retailer to bring in more name brands, boosting its shopper appeal.
Kering looks to build a new beauty division: The luxury conglomerate struck a deal to buy Creed, the second-largest brand by sales in the high-end fragrances segment.
Getir and Flink exit France: Stricter regulations have made it all but impossible for quick-commerce companies to operate in the country, adding to the industry’s challenges. (This article was written with the assistance of ChatGPT.)
Retail media spans a broad and growing merchant list, from marketplaces (Amazon) to department stores (Macy’s) to ride-sharing apps (Uber).
Before the pandemic, online alcohol sales rates were in close proportion to the rest of food and beverage. But the pandemic-induced digital grocery boom accelerated the pace of ecommerce penetration among food and beverage sales. For many reasons, alcohol did not keep up with this larger category trend.
The plant-based meat segment is in a correction phase: Several startups are faltering as consumers are unwilling to pay a premium for their products.
Uber's in-app video ads rollout: Play to rake in retail media ad revenues could leave users and privacy advocates concerned.
Nearly half of US adults said last month that they’re buying more brands on sale due to inflation, while 43% reported buying fewer products overall, according to Ipsos.
Amazon’s health, personal care, and beauty sales soar: Our forecast expects sales in the category will grow 24.1% this year.
Everyone is feeling the impact of rising food prices: SNAP recipients are buying less food, while higher-income shoppers are shifting spend to lower-priced options like Walmart and Dollar General. (This article was written with the assistance of ChatGPT.)
UK grocery prices are finally coming down, to consumers’ relief: Inflation expectations are also ebbing as warm weather and pay hikes drive sales.