Weekly Consumer News Update // January 3, 2023

Happy New Year! Here's our weekly roundup of recent consumer and retail news. This week, Amazon considers sports app, Mexican chain Tacombi plans expansion, Equinox bans new members on Jan 1, and more. 

 M&A and INVESTMENTS

• SpaceX raising $750 million at a $137 billion valuation CNBC
• New State Acquires Blackhawk Aerospace PR Newswire
• University of California to Invest $4 Billion in Blackstone’s BREIT Real-Estate Vehicle WSJ

INDUSTRY NEWS

Amazon planning standalone app for sports content

The move comes as Chief Executive Andy Jassy doubles down on the company's streaming ambitions. Reuters

Economy Has Drinkers Choosing Prosecco Over Champagne

Sales growth of costlier spirits & wine is slowing, and even reversing, as shoppers seek out more value. WSJ

The Next Big Social App May Be One You Don't Use (Yet)

The growth of apps like BeReal and Mastodon underscored a shift in 2022, a year when burgeoning social networks gained ground against the big platforms that have traditionally dominated, like Facebook, Instagram and Twitter.  CNET

The gourmet food scene in the UAE is taking on the likes of Paris, New York and London

And this culinary boost for the the UAE’s travel sector, leaders have announced plans to supercharge the tourism sector. CNBC

Walmart, CVS, and Walgreens Are Turning Shoppers Away With "Incredibly Frustrating" Policies

Popular retailers have spoken out about the trouble they're having with skyrocketing shoplifting. Yahoo

New York's first legal recreational marijuana shop opens

The dispensary was opened in New York City's East Village by Housing Works, a non-profit organization that fights homelessness and AIDS. Reuters

Inside Matrix, the protocol that might finally make messaging apps interoperable

Matrix is playing a part in bringing interoperability to another proprietary part of our digital lives: messaging. TechCrunch

Neutrogena Is Launching Personalized, 3D-Printed Skin Supplements With Nourished

The brand is leveraging its existing Skin360 mobile app to bring forth a technology that will further address consumers’ unique skin needs: 3D-printed personalized supplements. WWD

Lawmaker Calling for TikTok Ban Says Sale of App to U.S. Company Would Be Acceptable 

Congressman Mike Gallagher, one of the lawmakers who recently introduced legislation to ban TikTok in the U.S., said the sale of the video app to an American company would be “one acceptable outcome” to address national security concerns. NBC

Why the cookie-cutter store model will fall out of favor in 2023

Retailers are beginning to roll out plans to curate each of their stores based on the neighborhoods that they are located in. ModernRetail

Non-alcoholic beer to continue growing in 2023

The start of ‘Dry January' typically brings a heightened level of attention to non-alcoholic drinks. But the CEO of one of the leading non-alcoholic beer companies said that the demand for non-alcoholic brews is booming well beyond a single month. CNBC

Macy’s and Pure Beauty Salons to ‘Discontinue Their Partnership’ in 2023

The beauty salon chain had a partnership with Macy's renting spaces in their retail stores. WWD

Southwest Meltdown Shows Airlines Need Tighter Software Integration

The airline industry is long overdue for a tech overhaul that takes full advantage of the cloud and data integration, analysts say. WSJ

Shopify launches new subscription product to lure big retail clients

The company said it had signed up toymaker Mattel Inc for the product, and was looking to bring other enterprise clients it works with, such as Glossier, Coty, Steve Madden and Staples, onboard. Reuters

Mexican Chain Tacombi Set for Major Expansion in 2023

Can Danny Meyer’s millions make the chain bigger than Shake Shack? Grub Street

Oatly Shifts Production Duties to Ya YA Foods in New Partnership

Swedish oat milk maker Oatly Group AB will transfer leases and production capacity at two US facilities to Canadian manufacturer Ya YA Foods Corp. in a co-packing agreement that is part of its shift to an “asset-light” supply-chain strategy. Bloomberg

Tech Layoffs Are Happening Faster Than at Any Time During the Pandemic

Areas that were largely spared in 2020 are now among those with the largest numbers of job cuts. WSJ

Retailers brace for tougher times and more frugal customers in 2023

This year, January carries higher stakes and could set the tone for 2023 — when some economists and retail industry watchers anticipate the U.S. will tip into a recession. CNBC

Equinox bans new members on January 1, leading to criticisms of 'shaming' and praise of 'bold' strategy

"January is a language we don't understand," the company said on social media. Business Insider

Managing Holiday Gift Returns

About 30 percent of online purchases are returned. In the U.S., nearly 6 billion pounds of waste is from returned products. WWD

COMINGS & GOINGS

• Permira Hires Carolyn Everson Permira
  
• Marie-Laure Dubuisson Minnaert appointed Byredo brand director Fashion Network
• Tesla makes China boss highest-profile executive after Musk Reuters
• Martin Waters Taking Charge at Victoria’s Secret, Amy Hauk to Leave WWD

GOOD READS

• The Retail Sales Data Mania: How Much Is Too Much? Forbes
• It’s Not Too Early To Become Metaverse-Ready Wired
• Disney’s next 100 years hinges on a metaverse Reuters

INSPIRATION