Weekly Consumer News Roundup // January 30, 2024

Here's our weekly roundup of recent consumer and retail news. This week, Tom Brady will merge brands with Nobull, Netflix sees surge in subscriptions, and more.

WORDS FOR THE WEEK

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M&A and INVESTMENTS

• Amazon drops its $1.4B acquisition of Roomba maker iRobot Bloomberg
• Blackstone Agrees to Sell Luxury US Hotel for $705 Million Bloomberg
• Haleon to Sell ChapStick to Yellow Wood for About $510 Million BoF
• SiriusXM Inks ‘SmartLess’ Podcast Three-Year Deal Worth $100 Million-Plus Variety
• Tom Brady is merging his nutrition and apparel brands with training company Nobull CNBC
• Pillsbury baking-products maker is up for sale Reuters
• Steve Cohen, Marc Lasry Group Set to Invest Billions in PGA Tour Bloomberg
• Vice’s Refinery29 and BuzzFeed’s Tasty Are Up for Sale as Digital Media Contracts WSJ
• Major Food Group, the Team Behind Carbone, Joins Forces With Altamarea Group NYT

INDUSTRY NEWS

CPG

How grocers are looking to play a bigger role in health and wellness

Grocers increasingly want shoppers to come to them not only for their weekly food haul, but also for services like nutritional coaching and health screenings. Modern Retail 

Celebrity beauty brands have exceeded $1 billion in sales

As of early November 2023, brands hit $1.091 billion in sales, up 57.8% YoY, surpassing the total beauty category’s overall growth of 11.1%. Retail Brew

Ocean Spray reveals first major brand overhaul in 20-plus years

The 95-year-old cranberry co-op looks to highlight a “wildly uncommon” approach to culture and creativity. Food Dive

Could Consumers’ Splurging Habits Be Making a Rebound?

In 2024, consumers said they are most likely to spurge on electronics and technology or health and wellness purchases. WWD

Weed Sales Boom in Dry January as People Drink Less

Increasingly popular alcohol breaks like Dry January are buoying the emerging US cannabis market as more drinkers — especially younger ones — see marijuana as a healthier alternative. Bloomberg

How BÉIS Is Disrupting The $17 Billion Luggage Industry

Shay Mitchell's brand generates $200 million of revenue and has carved out a space in the saturated luggage market, disrupting a high-growth, multi-billion dollar industry. Forbes

Booze or bust: How 2024 will reshape alcohol

As tastes evolve and people imbibe less, producers are revamping their portfolios with strategic investments in new categories and nonalcoholic offerings. Food Dive

RETAIL

Target Is Creating a Mix-and-Match Wellness Experience In Stores

The retailer said it would launch more than 1,000 new wellness products this year across categories, including skin care, nonalcoholic beverages, fitness and most notably supplements. WWD

H&M to Close 20 Percent of Stores in Spain, Cut 590 Workers

H&M Group is planning to shutter 28 stores and lay off nearly 590 workers in Spain, the Swedish retailer confirmed Friday. WWD

Retailers are finding more of what they want off mall

Lower rents and greater flexibility are luring stalwart anchors and specialty retailers to outlets and strip centers, analysts say. Retail Dive

Madison Avenue Is on a Luxury Roll

The nation's longest luxury venue continues to attract high-end businesses ranging from designer shops and restaurants to hotels and galleries. WWD

MEDIA & TECH

EBay lays off 9% of its workforce, affecting 1K employees

The company will also scale back contract work in an effort to align costs more closely with the pace of growth, CEO Jamie Iannone said. Retail Dive

Netflix’s Risky Move Pays Off With Surge in Subscriptions

Netflix’s latest earning report revealed that the company added 13 million subscribers during the last quarter of 2023, more growth than any quarter since 2020. Time

Etsy launches ‘Gift Mode,’ a new AI-powered feature that generates 200+ gift guides

E-commerce site Etsy today launched “Gift Mode,” a new AI-powered feature to match you with tailored gift ideas based on specific preferences. TechCrunch

TikTok Tests Feature That Could Make All Videos Shoppable

The new feature uses technology to identify objects in a video automatically and suggests similar products on TikTok Shop. Bloomberg

Amazon Is Now Charging Prime Members Extra for Ad-Free Streaming. For Some, That’s a Deal Breaker.

Move prompts longtime subscribers to cancel Prime altogether, forgoing free shipping; ‘There is only one way to show them that this is not OK’. WSJ

Yelp launches revamped feed with AI-powered business summaries

Yelp is releasing new features as part of its winter release, which includes a more visual feed, AI-powered summaries of businesses, and number masking while contacting businesses for better privacy. TechCrunch

RESTAURANTS & HOSPITALITY

Chipotle targets Gen Z workers with latest benefits

The chain, whose workforce is 73% Gen Z, hopes to appeal to the demographic’s economic insecurity and hire 19,000 workers by spring. Restaurant Dive

Oatly and Carvel partner to bring dairy-free flavors to stores nationwide

The self-described “cult classic ice cream shoppe,” will offer oat-based soft serve, scoops, and ice cream sandwiches in 18 states. Food Dive

Starbucks olive oil-infused Oleato drinks to launch across the U.S.

The Oleato drinks previously debuted in select stores across the country and were the brain child of former CEO Howard Schultz. CNBC

COMINGS & GOINGS

• Adrian Appiolaza Is Named the New Creative Director of Moschino Vogue

GOOD READS 

• Can AI Carry On a Designer’s Legacy? BoF
  
• How a Lucky Break Fueled Eli Lilly’s $600 Billion Weight-Loss Empire Bloomberg