These days, #CPG startups are more focused on value and familiarity rather than trying to jump on the hottest new ingredient. Before the pandemic, and even when shoppers’ wallets were stuffed with stimulus money, CPG startups were much more focused on newness and innovation. Brands catered to adventurous shoppers who wanted to try ashwagandha gummies, mushroom coffee or lab-grown meat. But now, as shoppers’ wallets remain squeezed and inflation shows no signs of cooling down, investors and buyers say they are more interested in simplicity and familiar messaging. They say that the brands they are doing well right now are those that cater to what shoppers already know and love. It could mean that they sell a better-for-you version of a comfort food classic. Or, that they prioritize stripped-down messaging on a label that highlights what a product is and what it does, rather than touting whatever hot new adaptogen it’s using.
Modern Retail
Book and Periodical Publishing
New York, NY 10,735 followers
Authority and honesty on the reinvention of retail, by Digiday Media
About us
The threat of e-commerce has transformed the retail experience. But the act of shopping is a tangible one. Retailers of all shapes are trying to grapple with a new consumer and new competition.
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Updates
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After being acquired in 2022, Cover FX took a year and a half off from introducing any new products to reformulate some existing ones, update packaging and build a new website with a Shopify integration. Its sales are now up more than 800% year over year. In this piece by Julia Waldow, we speak to Sara Mitzner of AS Beauty Group, and Greg Carlucci of Gartner.
How Cover FX's brand refresh grew sales by 800%
https://www.modernretail.co
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Bobbie is experimenting with launching on Amazon as it tests the waters of an emerging omnichannel strategy. In this piece by Melissa Daniels, we speak to Sara Ahmed Holman, and Juan Pellerano-Rendón of Swap.
Inside Bobbie's growth strategy as it launches on Amazon & opens a new factory
https://www.modernretail.co
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With dozens of store closures and large declines in sales, #retail analysts and brokers expect retailer Big Lots could be nearing #bankruptcy, with even the company itself doubting its own survival. Here's how it got to this point. #biglots In this piece by Mitchell Parton, we speak to Neil Saunders of GlobalData Retail, Bill Read of Retail Specialists, Ben Terry of Weitzman, and Anthony Chukumba of Loop Capital.
'They struggle to find their place': What went wrong at Big Lots
https://www.modernretail.co
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Fashion giants like Nike and Ralph Lauren have long dressed members of #Olympics teams. Now, more small-scale brands are joining them on the global stage through uniform deals. CARIUMA, a sustainable skate shoe brand, is designing Olympic uniforms for the first time this year and outfitting skateboarders from three countries with its footwear and apparel. Meanwhile, premium active swimsuit brand Left On Friday is making its Olympic uniform debut with bikinis, cover-ups and accessories for Canada’s women’s beach volleyball team. And Swedish clothing company J.LINDEBERG is making this year’s uniforms for the U.S. men’s and women’s golf teams, plus uniforms for the 2028 Olympics in Los Angeles.
Meet the smaller brands designing Olympic uniforms
https://www.modernretail.co
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This week's Modern Retail Rundown features Athletic Brewing Co. receiving more private equity cash, Nike brings a veteran out of retirement to restart wholesale and Costco Wholesale’s membership goes up.
Modern Retail Rundown: Athletic Brewing raises $50M, Nike brings back veteran exec & Costco raises membership fee
https://www.modernretail.co
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Brands are giving direct mail a boost. Around a quarter of e-commerce brands say 26% to 50% of their marketing budget goes to #directmail, according to direct mail marketing firm Lob. In this piece by Melissa Daniels, we speak to Alvaro De La Rocha of Bespoke Post, Polly Bickel Wong of Belardi Wong, and Karen Danudjaja of Blume .
Why companies like Bespoke Post and Blume are reconsidering direct mail
https://www.modernretail.co
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From 2024 to 2026, financial media network ad spending in the U.S. is poised to explode at a compound annual growth rate of 107% to hit $1.50 billion. Here's what's behind the boom. #retail #financialmedianetwork In this piece by Allison Smith, we speak to Maria Elm and Sarah Marzano of EMARKETER, and Nich Weinheimer of Skai.
What the explosive growth of financial media networks means for retailers
https://www.modernretail.co
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High-end brands are spending hundreds of millions of dollars on properties in popular corridors that house their flagship stores or could in the future. In December, Prada Group agreed to buy the home of its boutique in New York’s Midtown and an office building next door for $835 million, Bloomberg reported. Also on Fifth Avenue, Gucci owner Kering dropped $963 million on a property where it could open a store in the future, and both LVMH (which owns Louis Vuitton and Christian Dior Couture) and CHANEL have reportedly been in talks to buy a building housing the Bergdorf Goodman department store. In San Francisco’s Union Square in late 2021, Chanel bought a building housing Williams-Sonoma for $63 million. That was after the #luxury brand had already paid $152 million in 2015 for the property that is now its new, larger Los Angeles flagship.
Luxury brands become landlords to take control in coveted retail destinations
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For direct-to-consumer cookware brand Caraway Home, Prime Day is the one period out of the year where nearly all of its marketing is focused on shepherding customers toward its Amazon storefront rather than its #DTC site. In the past, #Caraway has used its DTC site as a way to tease out sales ahead of Prime Day, which this year takes place on July 15 and 16. In the past, Caraway would offer a 10% off sitewide discount in the days leading up to Prime Day, which then turned into 20% off once #PrimeDay hit. But this year, Caraway is scrapping that pre-Prime Day sale, according to founder Jordan Nathan.
How startups learned to embrace Prime Day
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