May 2024: Monthly Consumer News Roundup

Each month, we share a compilation of the biggest news stories from all corners of the consumer landscape, from CPG, retail, beauty, tech, hospitality, real estate, deals, investments and more.

Target to lower prices on thousands of basic items as inflation sends customers scrounging for deals

Target said its lower prices will aim to “collectively save consumers millions of dollars” on household staples and everyday items such as milk, fresh fruit, diapers and even pet food. CNN

Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users

The new brand’s initial lineup of 12 items will include frozen bowls with whole grains or protein-packed pasta, along with sandwich melts and pizzas. The products will include one or more essential nutrients, like protein, calcium or iron. CNBC

Walmart’s 3D e-commerce platform Realm is the retailer’s latest metaverse bet

Walmart Realm lets consumers shop digital replicas of products sold at real-life Walmart stores via virtual bazaars designed to look like outlandish, make-believe worlds - the latest sign that Walmart is still betting on the future of the metaverse. Modern Retail

It’s not your imagination. Pickleball courts are everywhere

Over the past seven years, the number of outdoor public park pickleball courts in major cities has skyrocketed 650%, according to a new report by the Trust for Public Land. Courts have become big business as franchises, country clubs and fitness clubs build and convert space. CNBC

What’s on TV? For Many Americans, It’s Now YouTube

People spent nearly 10% of their TV-viewing time watching the service, home to videos by creators like MrBeast. WSJ

CVS debuts new Well Market private-label consumables line

CVS announced the debut of Well Market, its new private-label consumables brand which will include 40 new food, beverage, and grocery products and serve as an umbrella for its three other consumable store brands. Retail Brew

Consumers Fed Up With Food Costs Are Ditching Big Brands

After years of price increases, food companies say more consumers pull back; fast-food chains and snack makers plan new deals and flavors. WSJ

As their customers age, Macy's, Kohl's and Nordstrom are chasing younger shoppers

Baby boomers make up a sizeable chunk of the retailers' shoppers and investors aren't convinced that Gen Z and Millennials will age into shopping at the stores. CNBC

Bundles Are the Hottest New Show in Streaming

Warner and Disney’s push for bundling makes sense with mergers off the table, but old rivalries will need to be curbed to make deals work. WSJ

Why Prestige Beauty Can No Longer Ignore Amazon

From Kiehl’s to Clinique, a flood of premium lines are giving in to the e-commerce platform, realising it’s too much of a growth driver to pass up. BoF

Inspiring Words to Live By:

For more inspiration, visit @dailystoic and @dailyphilosopher on Instagram. 

If you don't already, follow us on The Safari Podcast as we interview the brightest and most innovative industry leaders who are shaping the retail, brand, and consumer landscape.