Victoria’s Secret, Party City, and Lush Cosmetics are the newest retail partners DoorDash has added to its platform as it expands beyond restaurant delivery to offer customers on-demand delivery for alcohol, grocery, and convenience items.
Inflation has hit pet owners hard: Petco and Chewy recognize that many of their customers are pulling back on discretionary spending, which could hinder growth in fiscal 2023.
This year, we forecast US off-premise alcohol retail sales (i.e., alcohol purchased for at-home consumption) will grow by a modest 3.5% to $178.20 billion. This growth will accelerate slightly through 2027, driven by three areas of opportunity within the industry: ecommerce, customers willing to splurge on premium beverages, and at-home consumption trends.
Tesco is making its rewards program less rewarding: While Boots and Sainsbury’s have recently made similar moves, the change could drive shoppers to its competitors.
Discount stores are on an expansion tear: Amid growing sales, Dollar General, Five Below, and Dollar Tree plan to open more stores this year.
Which networks should brands be paying attention to as they refine their retail media strategy? From the king of them all to the ones that are just catching up, here are five retail media networks to keep an eye on this year.
Grocery delivery loses its appeal as shoppers look for savings: Sales and order frequency fell in February, while mass merchants used their pricing power to woo cost-conscious consumers.
Kroger looks to reduce its operational costs: The grocer is testing self-driving trucks at several Dallas-area locations.
Grocery prices are up 10.2% YoY: While prices remain elevated, they have now decelerated for six straight months.
Alcohol ecommerce is growing. See how alcohol purchase trends are shifting, who’s buying, and how to reach new customers.
Yet another rapid grocery startup bites the dust: Food Rocket shut down less than a year after raising $25 million from Alimentation Couche-Tard.
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.