--- title: Traub Weekly Consumer News // March 14, 2023 description: Here's our weekly roundup of recent consumer and retail news. This week, Etsy & Shopify react to SVB collapse, Meta announces more layoffs, and more.  image: https://www.retailbrew.com/_next/image?url=https%3A%2F%2Fstorage.morningbrew.com%2Fgif%2F2022-10-31%2Fimage-d96e959abeaff035e5f0af137c191895dc5d73e0-1000x667-gif%2Fprice-stickers-0522-00001.webp&w=3840&q=70 --- [![logo-vert-traub (2)](https://blog.traub.io/hs-fs/hubfs/TRAUB_September2019/Image/logo-vert-traub%20(2).png?width=456&height=312&name=logo-vert-traub%20(2).png "logo-vert-traub (2)")](http://traub.io/) - [Who We Are](https://www.traub.io/who-we-are/) - [What We Do](https://www.traub.io/what-we-do/) - [Meet Our Team](https://www.traub.io/our-team/) - [See Our Work](https://www.traub.io/case-studies/) - [Read Our Content](https://www.traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) # Weekly Consumer News Update // March 14, 2023 By [TRAUB](https://blog.traub.io/blog/author/traub) On March 14, 2023 [![Share on facebook](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/facebook-color.png?width=24&name=facebook-color.png)](http://www.facebook.com/share.php?u=https://blog.traub.io/blog/weekly-news-2023-03-14&utm_medium=social&utm_source=facebook) [![Share on linkedin](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/linkedin-color.png?width=24&name=linkedin-color.png)](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.traub.io/blog/weekly-news-2023-03-14&utm_medium=social&utm_source=linkedin) [![Share on twitter](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/twitter-color.png?width=24&name=twitter-color.png)](https://twitter.com/intent/tweet?original_referer=https://blog.traub.io/blog/weekly-news-2023-03-14&utm_medium=social&utm_source=twitter&url=https://blog.traub.io/blog/weekly-news-2023-03-14&utm_medium=social&utm_source=twitter&source=tweetbutton&text=) [![Share on pinterest](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/pinterest-color.png?width=24&name=pinterest-color.png)](http://pinterest.com/pin/create/button/?url=https://blog.traub.io/blog/weekly-news-2023-03-14&utm_medium=social&utm_source=pinterest&media=) Here's our weekly roundup of recent consumer and retail news. This week, Etsy & Shopify react to SVB collapse, Meta announces more layoffs, and more.  ---  **M&A and INVESTMENTS** - Supermodel Karlie Kloss Makes Angel Investment In **Coterie**, A Diaper Company [Forbes](https://www.forbes.com/sites/sharonedelson/2023/03/07/supermodel-karie-kloss-makes-angel-investment-in-coterie-a-diaper-company/?sh=75d1a1dd9d22) - Ares Backs Toys ‘R’ Us Owner WHP Global at $1.6 Billion Valuation [Bloomberg](https://www.bloomberg.com/news/articles/2023-03-08/ares-backs-toys-r-us-owner-whp-global-at-1-6-billion-valuation#xj4y7vzkg) - China's SHEIN set to raise $2 billion, eyes US IPO later this year [Reuters](https://www.reuters.com/world/china/chinas-shein-set-raise-2-bln-eyes-us-ipo-later-this-year-sources-2023-03-08/) - Women’s Tennis Association Gets $150 Million Investment From CVC Capital [Bloomberg](https://www.bloomberg.com/news/articles/2023-03-07/cvc-to-invest-150-million-in-women-s-tennis-association#xj4y7vzkg) - Fly By Jing raises $12M in Series B [Retail Dive](https://www.retaildive.com/news/fly-by-jing-raises-12m/644552/) - Khaite Receives New Investment from Stripes [BoF](https://www.businessoffashion.com/news/luxury/khaite-receives-new-investment-from-stripes/) - HSBC swoops in to rescue UK arm of Silicon Valley Bank [BBC](https://www.bbc.com/news/business-64937251)   ## **INDUSTRY NEWS** ![How Hershey's Made Its First Vegan Reese's Peanut Butter Cups and Chocolate Bars | VegNews](https://vegnews.com/media/W1siZiIsIjM2Mzg4L1ZlZ05ld3MuSGVyc2hleXNQbGFudEJhc2VkLnBuZyJdLFsicCIsInRodW1iIiwiMTYwMHg5NDYjIix7ImZvcm1hdCI6ImpwZyJ9XSxbInAiLCJvcHRpbWl6ZSJdXQ/VegNews.HersheysPlantBased.jpg?sha=b3ba5b98dd955ce8) There’s a new Reese’s in town, hold the dairy Hershey, which makes Reese’s along with Hershey bars, Kisses and other chocolates and candies, announced two new dairy-free products. [CNN](https://www.cnn.com/2023/03/07/business/vegan-reeses)   QVC Boosts Adaptive, Accessible Product Offerings The company has begun capitalizing on its video commerce and live-streaming capabilities to call out products for those with disabilities, illnesses, injuries, recovering from surgery or issues related to aging. [WWD](https://wwd.com/business-news/markets/qvc-boosts-adaptive-accessible-offerings-1235569081/)   Global brands look to boost media investment in women’s sports through a new partnership, The Women’s Sports Club Global brands such as Nike, Coca-Cola and Delta are coming together to elevate investment in women’s sports. [CNBC](https://www.cnbc.com/2023/03/07/womens-sports-club-media-investment.html)   Claire’s Aims High (and Wide) with Next-Gen Paris Store, U.S. Grocery Expansion Designed for total brand immersion with experiences and social storytelling at its core, the company said the new location on Rue Faubourg St. Antoine will give visitors a peek into the “future of the brand.” [Retail Touchpoints](https://www.retailtouchpoints.com/topics/retail-store-design/in-store-innovation/claires-aims-high-and-wide-with-next-gen-paris-store-us-grocery-expansion)   Discount chains Ross, T.J. Maxx, and Burlington are planning to add more than 300 new stores. While retailers have been cautious about the months ahead, it's likely to be a strong year for off-price chains as shoppers look to save money. [Business Insider](https://www.businessinsider.com/burlington-ross-tjx-opening-more-stores-off-price-discounts-rivals-2023-3)   Adidas Is Wondering What to Do With $1.3 Billion in Yeezy Sneakers After severing business ties with the rapper Ye, Adidas said it would cut its dividend and declared 2023 a “transition year.” [NYT](https://www.nytimes.com/2023/03/08/world/europe/adidas-earnings-yeezy.html)   Southwest Is Modernizing Its Technology With Help From Amazon After Holiday Meltdown Amazon Web Services will become Southwest’s “preferred cloud provider,” calling the move a “large-scale migration” of the airline’s digital infrastructure to the cloud. [Bloomberg](https://www.bloomberg.com/news/articles/2023-03-08/southwest-airlines-taps-amazon-cloud-three-months-after-meltdown?srnd=industries-v2#xj4y7vzkg)   ![Three screenshots of the new Spotify home screen.](https://duet-cdn.vox-cdn.com/thumbor/0x0:1440x820/2400x1600/filters:focal(720x410:721x411):format(webp)/cdn.vox-cdn.com/uploads/chorus_asset/file/24488987/Preview_On_Home_Music.jpg) Spotify’s new design is part TikTok, part Instagram, and part YouTube Spotify wants to be much more than a music player. So its app is turning into much more than a bunch of album covers. [The Verge](https://www.theverge.com/2023/3/8/23630821/spotify-design-home-music-podcasts-audiobooks-app)   The cost of food is down, but grocery bills are still up Consumer packaged goods companies have raised prices in recent years as energy, ingredient, labor and other costs have increased. The companies have held onto those increases as costs in many areas have decreased. [CNN](https://www.cnn.com/2023/03/08/economy/food-prices-inflation)   Walmart Chips Away at Amazon’s Lead in a Key Area: Wealthy Online Shoppers At $98 a year, Walmart+ costs $41 less than Prime and offers many of the same perks, such as shipping discounts and video streaming. [Bloomberg](https://www.bloomberg.com/news/articles/2023-03-09/walmart-chips-away-at-amazon-s-lead-in-wealthy-online-shoppers?srnd=industries-v2)   Roku will sell its first company-made smart TVs exclusively at Best Buy The company-made sets will provide “more choice for customers” while helping boost active account growth. [CNBC](https://www.cnbc.com/2023/03/09/roku-smart-tvs-best-buy.html)   Ulta’s performance is a thing of beauty The chain saw net sales increase 18.2 percent during the quarter as beauty consumers continued to participate in the category even with price increases. [Retail Wire](https://retailwire.com/discussion/ultas-performance-is-a-thing-of-beauty/)   Savage X Fenty And FIT:MATCH Introduce In Store Virtual Fitting Room Experience Fit Xperience weaves together augmented reality, computer vision and artificial intelligence, creating a re-imagined in-store fitting room experience. [Forbes](https://www.forbes.com/sites/yolarobert1/2023/03/09/savage-x-fenty-and-fitmatch--introduce-in-store-virtual-fitting-room-experience/?sh=57f3328a2a02)   Yeti recalls nearly 2 million coolers over possible magnet detachment Some Yeti coolers are being recalled because its magnet-lined closure can fail and detached, which could be hazardous if ingested. [USA Today](https://www.usatoday.com/videos/money/business/2023/03/10/yeti-recalls-nearly-2-million-coolers-over-possible-magnet-detachment/11442657002/)   Vinyl overtakes CD sales for the first time since 1987 As interest in digital downloads wanes, vinyl record sales continue to grow for the 16th year running, says RIAA. [The Verge](https://www.theverge.com/2023/3/10/23633605/vinyl-records-surpasses-cd-music-sales-us-riaa)   How Overstock is wooing new suppliers and weathering retail’s inventory torrent While 2022’s discounting frenzy cost the online retailer market share, the CEO said it’s looking to grow through new categories and brands. [Retail Dive](https://www.retaildive.com/news/overstock-suppliers-inventory/644726/)   New HBO Max to Offer Thousands of Extra Shows at No Added Cost Warner Bros. Discovery Inc. will add thousands of titles to its flagship streaming service HBO Max — pulling from its library of unscripted lifestyle shows — without raising the price. [Bloomberg](https://www.bloomberg.com/news/articles/2023-03-09/new-hbo-max-to-offer-thousands-of-extra-shows-at-no-added-cost#xj4y7vzkg)   Chick-fil-A Wants to Serve Its Chicken Sandwiches in Asia and Europe Fast-food restaurant chain plans $1 billion international expansion through 2030. [WSJ](https://www.wsj.com/articles/chick-fil-a-wants-to-serve-its-chicken-sandwiches-in-asia-and-europe-2af2eec4)   Sephora and TikTok team up on new content program for emerging brands The program aims to help young brands become more successful on TikTok and more fluent in working with influencers on partnerships. [Glossy](https://www.glossy.co/pop/exclusive-sephora-and-tiktok-team-up-on-new-content-program-for-emerging-brands/) ![article cover](https://www.retailbrew.com/_next/image?url=https%3A%2F%2Fstorage.morningbrew.com%2Fgif%2F2022-10-31%2Fimage-d96e959abeaff035e5f0af137c191895dc5d73e0-1000x667-gif%2Fprice-stickers-0522-00001.webp&w=3840&q=70) As profits rise and supply-chain issues ease, when will CPG prices come down? With prices continuing to elevate, many CPG companies are pushing consumers, and retailers, to their limits. [Retail Brew](https://www.retailbrew.com/stories/2023/03/10/as-profits-rise-and-supply-chain-issues-ease-when-will-cpg-prices-come-down?cid=30795967.160612&mid=e183fe4871484fb95d54c5b936067b52&utm_campaign=rtb&utm_medium=newsletter&utm_source=morning_brew)   'Lab-Grown' Dairy Products Replace Cows With Yeast Cowless dairy is here, with the potential to shake up the future of animal dairy and plant-based milks. [Washington Post](https://www.washingtonpost.com/business/2023/03/12/precision-cultivated-dairy/)   After $1 Trillion Lost To Inflation, Consumers’ Resilience Has Reached The Breaking Point Inflation is hurting American consumers and the retailers that depend upon their spending power far more than anyone knew. [Forbes](https://www.forbes.com/sites/pamdanziger/2023/03/12/consumers-resilience-has-reached-the-breaking-point-one-trillion-dollars-worth/?sh=aa5917247203)   Etsy, Other E-Commerce Companies Feel Squeeze of SVB Collapse Etsy and Shopify each work with 5.4 million and 1.75 million online merchants respectively worldwide, mostly small-to-medium size businesses. [BoF](https://www.businessoffashion.com/news/retail/etsy-other-e-commerce-companies-feel-squeeze-of-svb-collapse/)   Spain's Mango plans U.S. expansion after China retreat Mango is returning to the United States - after two previous attempts failed - offering higher-priced clothes meant for special occasions and parties. It will target states where online sales are already strong. [Reuters](https://www.reuters.com/business/retail-consumer/spains-mango-plans-us-expansion-after-china-retreat-2023-03-14/)   Meta to lay off 10,000 more workers after initial cuts in November Zuckerberg has pitched 2023 as the company’s “year of efficiency,” in which the firm aims to become “a stronger and more nimble organization.” [CNBC](https://www.cnbc.com/2023/03/14/meta-layoffs-10000-more-workers-to-be-cut-in-restructuring.html)   H&M Launches ‘H&M Pre-Loved,’ Now ThredUp’s Largest Resale Program H&M is now the largest retailer to partner with ThredUp, amassing 30,000 resale items at launch. [WWD](https://wwd.com/sustainability/business/hm-pre-loved-thredup-largest-resale-program-march-2023-sustainability-1235581788/)   Whole Foods, Other Grocery Stores Are Hot Property Real-estate firm Hines is buying a shopping center anchored by the national grocer for $112 million. [WSJ](https://www.wsj.com/articles/whole-foods-other-grocery-stores-are-hot-property-63ece3fc?mod=hp_lista_pos2)   Apple launches a new way to shop online for iPhone with help from a live specialist The company is introducing a new service, “Shop with a Specialist,” that will offer customers in the U.S. a live video shopping experience directly on the apple.com website. [TechCrunch](https://techcrunch.com/2023/03/14/apple-launches-a-new-way-to-shop-for-iphone-online-with-help-from-a-live-specialist/)   Sample sales are trending on TikTok. Is it a branding opportunity? Long relied upon by brands to clear stock but often known only to fashion 'insiders', sample sales are gaining newfound popularity on TikTok. [Vogue Business](https://www.voguebusiness.com/fashion/sample-sales-are-trending-on-tiktok-is-it-a-brand-opportunity)   COMINGS & GOINGS - **PVH** Taps Amber McCann as Chief Communications Officer [WWD](https://wwd.com/fashion-news/fashion-scoops/pvh-appoints-amber-mccann-as-chief-communications-officer-1235575492/) - Stitch Fix CFO to exit as declines persist [Retail Dive](https://www.retaildive.com/news/stitch-fix-cfo-departure/644424/) - Allbirds Hires New CFO [SGB Media](https://sgbonline.com/allbirds-hires-new-cfo/) - Diptyque Americas names first chief marketing officer [Retail Dive](https://www.retaildive.com/news/diptyque-americas-names-first-chief-marketing-officer/644672/) **GOOD READS** - Why Some Virtual Experiences Succeed and Others Become Digital Ghost Towns [BoF](http://businessoffashion.com/articles/technology/why-some-virtual-experiences-succeed-and-others-become-digital-ghost-towns/) - Does Anyone Care Who Designs J.Crew? The Answer Is Complicated [BoF](https://www.businessoffashion.com/opinions/retail/op-ed-does-anyone-care-who-designs-jcrew-the-answer-is-complicated/) - The Silicon Valley Bank Social Contagion [The Atlantic](https://www.theatlantic.com/ideas/archive/2023/03/silicon-valley-bank-run-social-media-financial-crisis/673375/)   **INSPIRATION** ![IMG_3593](https://blog.traub.io/hs-fs/hubfs/IMG_3593.jpg?width=320&height=398&name=IMG_3593.jpg)     ### Subscribe Here! 477 Madison Avenue, 18th Floor New York, NY 10022 (646) 723-2990 [info@traub.io](mailto:info@traub.io) ![TRAUB](https://blog.traub.io/hubfs/TRAUB_September2019/Image/traub-logo.png) - [Who We Are](http://traub.io/who-we-are/) - [What We Do](http://traub.io/what-we-do/) - [Meet Our Team](http://traub.io/our-team/) - [See Our Work](http://traub.io/case-studies/) - [Read Our Content](http://traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) Traub © 2023