Weekly Consumer News Roundup // December 5, 2023

Here's our weekly roundup of recent consumer and retail news. This week, Zara and H&M refurbish their retail locations, TikTok teams up with TicketMaster, and more. 

WORDS FOR THE WEEK

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

M&A and INVESTMENTS

• Neiman Marcus Rejects $3 Billion Takeover Bid by Saks WSJ
• Blackstone to Buy Rover Group for $2.3 Billion WSJ
• Alaska Air to buy Hawaiian Airlines for $1.9 billion CNN
• Tanger Acquires Its First Open-air Lifestyle Center for $193.5 million WWD
• THG Beauty bid $20 million for skin care brand Biossance WWD
• Farfetch founder bids to take company private Reuters
• Vail Resorts to Acquire Swiss Ski Resort SGB Media
• Apparel Maker Faherty Explores Selling Minority Stake BoF
• Panera Bread reportedly files to go public again through IPO CNBC
• Mav Beauty Brands To Be Acquired by Nexus Capital Management Happi
• Activewear brand Bandier seeks buyer for IP, assets Yahoo

INDUSTRY NEWS

CPG

Kraft’s newest Mac & Cheese is ditching cheese

For the first-time ever, the household staple is going plant-based with a new version of the boxed favorite that contains a dairy-free alternative to its signature cheese. CNN

VF Corp lays off 500 salaried employees amid turnaround

The job cuts come weeks after an activist investor demanded the conglomerate slash $300 million in expenses. Retail Dive

CEOs Try to Beat Their Rivals in Softness and Cuddle-ability

Plush-toy makers play hardball in a competition for the squishiest creatures in the hot stuffed-animal market. WSJ

Pet Wellness Is The Next Big Thing

Since pets are the new children, owners are shopping for them in similar ways — looking for sustainable packaging, fun marketing, clean ingredients and benefit-driven products. WWD

Food brands bet on gift sets to drive holiday sales

As inflation has left people with tighter wallets this holiday season, a number of food companies are positioning their products as luxurious-yet-affordable presents. Modern Retail

Ozempic and a Protein Shake: Food Makers Prep Weight-Loss-Drug Side Dishes

Startups and other food makers are pitching their products as natural alternatives or companion products for patients. WSJ

General Mills leans into cereal as a snack with new twists on old favorites

The CPG giant is betting on consumers continuing to see the breakfast staple as a treat option with new flavors and mini versions of some of its biggest brands. Food Dive

RETAIL

More US retailers adopt 'keep it' returns policies to shelter profits in holiday surge

As holiday shoppers return items purchased during Black Friday and Cyber Monday online shopping sprees, more U.S. retailers could tell them to keep items that cost more to ship back than they are worth. Reuters

Class A malls continue to be in high demand

Even as consumer spending cools down across the U.S., retailers continue to target upscale malls for expansion. Modern Retail

Best Buy to offer deliveries via DoorDash

The partnership marks the first national consumer electronics retailer available on the DoorDash marketplace. Retail Dive

Shoppers are worried about the economy so they're 'doom spending' to make themselves feel better

Similar to doomscrolling, consumers, especially younger ones, are mindlessly shopping to ease their concerns, a new report says. Business Insider

Fashion’s New Look for Stores: Bigger, Better, Fewer

Zara and H&M are adding beauty salons and new digital features to physical locations to renew their appeal. WSJ

Declining malls get second lives as lifestyle hubs

Shopping malls across the country are adding lifestyle experiences and off-kilter attractions to draw in consumers in the age of e-commerce. Axios

MEDIA & TECH

Why super apps have yet to take off in the U.S.

Despite the best efforts of multiple tech and e-commerce giants, no one company has yet to crack the code for building a successful super app in the U.S. Modern Retail

Amazon Introduces Q, an A.I. Chatbot for Companies

Amazon has been racing to shake off the perception that it is lagging in the push to take advantage of artificial intelligence. NYT

Spotify Will Cut Headcount by 17% to Confront Slower Growth

Spotify isn’t immune to ‘dramatically’ slowing economic growth as cuts will affect about 1,500 employees. Bloomberg

TikTok expands its in-app Ticketmaster ticketing feature to users in 20 countries

The partnership allows users to discover events and buy tickets for them directly in TikTok without having to leave the app. TechCrunch

RESTAURANTS & HOSPITALITY

No More Dry Burgers: McDonald’s Overhauls Its Biggest Item

In the heated competition for hamburger dominance, the fast-food chain has spent seven years making over its signature offering. WSJ

Red Lobster’s Popular Endless Shrimp Deal Ate Into Its Profits

The all-you-can-eat deal contributed to an $11 million quarterly operating loss. NYT

Krispy Kreme: A Symbol of Culinary Evolution in the Heart of Paris

On December 6, American chain Krispy Kreme is set to unveil its first outlet, a 550-square-metre “doughnut temple” strategically placed in the bustling Les Halles, a vibrant hub for workers, students, and tourists alike. EuroWeeklyNews

Marriott Resorts Turn To A Tiny Toy Retailer To Keep Kids Happy During Vacations

The hotel giant has brought on Camp, a chain with nine locations, to reimagine its kids clubs as it looks to build its all-inclusive business. Forbes

COMINGS & GOINGS

• Liz Rodbell Named President and CEO of Hudson’s Bay WWD
• Roark Names Former Volcom Exec Jason Steris as CEO WWD
• Avon International Promotes Kristof Neirynck To CEO Happi
• Disney Names Jeremy Darroch, Morgan Stanley’s James Gorman to Board WSJ
• Claire's names Chris Cramer as CFO and COO Fashion Network
• Judd Crane Returns to Selfridges, Andrew Keith Given CEO Title WWD
• Hailey Bieber’s Rhode promotes Lauren Ratner to President Cosmetics Business
• Pangaia CEO Exits Role BoF
• G-III Apparel Appoints Chief Growth and Operations Officer SGB Media
• Sergio Rossi names ex-Hindmarch and Belstaff chief Wright as new CEO Fashion Network

GOOD READS 

• How luxury shoppers are driving retail estate’s expansion TheRealDeal
  
• Consulting Giants See AI Shaving Years Off the Path to Partner Bloomberg
• ‘Black Friday’ and ‘Cyber Monday’ have lost their meanings as brands extend promotions Modern Retail