Weekly Consumer News Update // April 18, 2023

Here's our weekly roundup of recent consumer and retail news. This week, Gucci and Vans launch co-branded Roblox world, Crumbl Cookies divide dessert lovers, and more. 

 M&A and INVESTMENTS

• Traub Capital Partners takes Sabatino stake Axios
• MSG Nears Sale of Tao Restaurant Group for About $550M Bloomberg
  
• WHP and Express Buying Bonobos from Walmart for $75M WWD
• Vox Media Sells News Video Outlet NowThis The Information
• Universal Standard acquires plus-size brand Henning Retail Dive
• Sega, Sonic the Hedgehog’s parent to acquire Angry Birds Creator Rovio CNN
• Lululemon Is Exploring a Sale of Mirror Fitness Unit Bloomberg

INDUSTRY NEWS

RETAIL

As resale competition intensifies, Etsy adds bidding option 

Because of the growing interest in vintage, Etsy is testing a feature called Make an Offer to capitalize on the market. Glossy

More than 50K stores may close by 2027

Slowing consumer spending, reduced availability of credit and rising penetration of e-commerce may contribute to the closure of 50,000 retail stores by 2027, according to UBS. Retail Dive

The most-wanted clothing brands at resale are probably hanging in your closet

More affordable brands, such as Madewell, Zara, Urban Outfitters, Free People, Anthropologie, Abercrombie & Fitch and Levi’s are now the most popular brands with the best resale value. CNN

Ikea debuts interior design service

Ikea has announced the launch of a brand-new program offering professional one-on-one interior design consultations in the United States. Business of Home

Gucci and Vans launch first co-branded Roblox world

The brands are teaming up to expand their reach with games and digital goods. Vogue Business

Behind Dyson’s ‘connected’ omnichannel strategy across home and beauty

Early steps to improve operations and jazz up its marketing are already boosting sales and customer satisfaction. CNBC

Retail sales declined in March as consumers cut back spending

Consumers pulled back on spending at retail stores for the second straight month, causing retail sales to fall 1% in March, the Commerce Department said on Friday. Axios

David’s Bridal will lay off more than 9,000 ahead of potential sale

Just four years after emerging from bankruptcy, the company has begun a "sale process" and is parting with the vast majority of its workforce. Philadelphia Inquirer

Lululemon used tiny organisms instead of fossil fuels to make the nylon for its new shirt

The shirts are the result of a partnership born from Lululemon’s equity investment in the biotech company Geno. CNBC

MARKETING

AI Marketing Stunts Are Here. Is Fashion Ready?

The fast-evolving technology has helped people from outside the industry score some of the biggest fashion moments over the past several weeks, including the video mashups of Balenciaga with Harry Potter and various other film and TV series. BoF

Bud Light’s inclusive ad campaigns are good for business, experts say

According to the VP of Marketing, the way to encourage young people to drink more Bud Light was to “evolve and elevate” the brand by focusing on inclusivity. CNN

As budgets tighten, brands are shifting their marketing focus to LTV and loyalty

Brands are shifting their marketing mix, leaning less heavily on broad top-of-funnel brand building and customer acquisition and focusing instead on measurable performance marketing and increasing LTV. Glossy

TECH

Inside Babylist’s emerging technology strategy

Baby registry business Babylist is increasingly betting on emerging technology as it expands its services and products for expectant families. Modern Retail

Warner Bros. Discovery unveils new flagship streaming service, ‘Max’

Warner Bros. Discovery is combining HBO Max and Discovery+ content to form a new streaming service. CNBC

Twitter partners with eToro to let users trade stocks, crypto as Musk pushes app into finance

Musk has made it his mission to turn Twitter into a so-called “super app” that offers users financial services on top of social media. CNBC

Amazon is ‘investing heavily’ in the technology behind ChatGPT

Amazon wants investors to know it won’t be left behind in the latest Big Tech arms race over artificial intelligence. CNN

Nike Has a Plan to Take Digital Goods Mainstream. Just Don’t Call Them NFTs.

The sneaker giant is launching its first big collection of digital goods under its own name after signing up more than 330,000 members to its new web3 platform, .Swoosh. BoF

FOOD & BEV

With the market heating up, cannabis beverage brand Cann launches in New York

Cann is now looking to build on that momentum by launching in NY; state residents can now purchase Cann via direct-to-consumer and at retailers. Modern Retail

Gourmet Dog Food Has Pet Owners Sending Kibbles Back

Dog ownership surged during the pandemic. So did the options for fresh, human-grade dog food, an expanding market. NYT

Restaurant prices are rising faster than grocery prices for the first time since inflation ran hot

Restaurant prices outpaced grocery prices on a 12-month basis for the first time since inflation started accelerating in mid-2021. CNBC

Burger King is selling more Whoppers than ever before in early days of its U.S. turnaround

Early steps to improve operations and jazz up its marketing are already boosting sales and customer satisfaction. CNBC

Are Crumbl Cookies the Best or the Worst? It Doesn’t Matter.

The fastest-growing dessert chain in the United States has sweets lovers divided. But the debate is great for business. NYT

Legal pot sales eclipse sales of chocolate in the US as Americans reach for joints and berry edibles instead

Legal pot sales could top $33 billion this year – more than chocolate and craft beer combined. Business Insider

Coca-Cola’s Topo Chico Sabores launch aims to broaden reach for mineral water brand

The new premium sparkling products made with fruit juice and herbal extracts accelerate efforts by the beverage giant to expand distribution and usage occasions for the fast-growing offering. Food Dive

COMINGS & GOINGS

• Tim Kilpin Appointed Hasbro President, Toy, Licensing & Entertainment Business Wire
  
• Gretchen Weimer Joins Kizik as Chief Merchandising Officer WWD
• TJ Adeshola has stepped down as Twitter's head of global content partnerships Sportico
• Forma Brands Names New Leadership Bo
• Rent the Runway's Longtime CFO to Depart MarketWatch
• Walmart’s chief merchandising officer to depart CNBC
• Hasbro hires Harley-Davidson CFO Retail Dive
• Robert Triefus to Exit Gucci WWD
• Nilly Foster Named Zegna Brand President and CEO of North American Region WWD
• PrettyLittleThing Founder Umar Kamani Steps Down as CEO BoF

GOOD READS

• People Are Sick and Tired of All Their Subscriptions WSJ
• Why Amazon Should Worry About Walmart’s Site Redesign Forbes
• Should fashion retailers still be launching resale platforms? Retail Brew

INSPIRATION