Weekly Consumer News Roundup // April 2, 2024

This week, the Hulu-Disney+ bundle officially launches as a unified service, the total solar eclipse is fueling a small spending boom across the US, and more.

WORDS FOR THE WEEK

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

M&A and INVESTMENTS

• Formula 1 Owner Liberty to Buy MotoGP in $3.8 Billion Deal Bloomberg
• Authentic Brands Group Initially Agrees to Buy Champion for a little more than $1 billion WWD
• One Group Hospitality buys Benihana parent for $365M Restaurant Dive
• Culture Pop Soda raises $21 million Food Business News
  
• OSEA Said Mulling Deal Options WWD
• Emma and Jens Grede, Von Furstenbergs Invest in The Elder Statesman BoF
• Thai Investor Plans to Buy Signa Brands Including Selfridges Bloomberg
• L’Occitane Sells Grown Alchemist Stake to Outgoing CEO BoF
  
• Yahoo is acquiring Instagram co-founders' AI-powered news startup Artifact Yahoo
• Marathon Partners pushes Dr. Martens for strategic review, possible sale Reuters

CULTURE/GOODREADS

• Never Ending Revenge Spending—‘What Is the New Norm?’ WSJ
• Netflix’s Co-CEOs Are Nothing Alike. That’s a Good Thing. WSJ

INDUSTRY NEWS

CPG

Why beverage brand Liquid Death just collaborated with two beauty brands

According to Dan Murphy, svp of marketing at water and beverage company Liquid Death, it's a bit of a "happy accident" that the company's collaborations with megabrand E.l.f. and the Netherlands-founded grooming brand Reuzel launched within a week of each other. Glossy

US Monthly Inflation Slows; Consumer Spending Surges

U.S. prices moderated in February, with the cost of services outside housing and energy slowing significantly, keeping a June interest rate cut from the Federal Reserve on the table. Reuters

PepsiCo, Unilever launch Pure Leaf Zero Sugar sweet tea

An executive overseeing the nearly $1 billion brand said a “top barrier” preventing people from buying a tea offering is the absence of an option without sugar. Food Dive

RETAIL

Walmart Wants in on Luxury Beauty. Will Shoppers Follow?

The US mega-chain is continuing to build out its assortment of prestige beauty brands and services. BoF

Global secondhand apparel market to hit $350 billion by 2028, according to new report

Thredup's latest data also hints at a growing business opportunity in branded resale, which grew 31% in 2023. Fashionista

Innovation Won’t Save Department Stores. The Right Products Will.

Mid-market American department stores like Macy’s, Kohl’s and Nordstrom need more than new owners and retail formats to win back customers; they must reinvent their entire value proposition with a selection that can compete with online fast fashion and off-price players. Time is running out. BoF

Macy’s hasn’t closed 150 stores yet. But Target, Kohl’s CEOs already smell opportunity

Macy’s closures could put as much as $2 billion of market share up for grabs. CNBC

A Hit Brand’s ‘One Size Fits Most’ Clothing Is Dividing America’s Teens

Brandy Melville sells affordable clothes for skinny shoppers, making it both popular and controversial: ‘It’s a status symbol’. WSJ

Canada Goose, Levi & Nike hit snags in their quest to build bigger DTC businesses

DTC-focused apparel companies are hitting bumps in the road as consumer spending habits change. Modern Retail

What’s Behind DTC’s Sudden Obsession With Indie Fashion

Warby Parker, Everlane and other brands are partnering with small, but buzzy fashion labels as an inexpensive way to find new customers, and regain some status with shoppers who have moved on. BoF

The Dollar-Store Showdown Comes Down to Real Estate

Dollar General, located mostly in rural areas, plans to expand, while the more urban-focused Family Dollar will close hundreds of stores. WSJ

MEDIA & TECH

CBS Signs 5-Year Deal for Golden Globes

The agreement gives a much-needed shot in the arm for a program that was on life support not long ago. NYT

Hulu-Disney+ Bundle Officially Launches As Unified Service

Disney’s streaming bundle combining Hulu and Disney+ in one service officially launched Wednesday morning, ending a three-month beta period described by the company as a success. Deadline

Josh Kushner and Karlie Kloss Plan to Revive Life Magazine

The investor Josh Kushner and his wife, Karlie Kloss, have struck a deal with Barry Diller’s media company to revive it as a regular print title. NYT

RESTAURANTS & HOSPITALITY

Juice chains are winning new consumers with food offerings

Clean Juice, Main Squeeze and Beyond Juicery are among the chains adding food to their menus to attract broader demographics and expand occasions. Restaurant Dive

Fast-food chains like Burger King, Shake Shack, and KFC are doubling down on digital order kiosks 

Ordering using a touch screen is going to become the norm across fast food chains in the US, but keep an eye on your wallet. Business Insider

Restaurant sales rose 12% in 2023 compared to 2019

Consumer spending was up 7% year over year among the top 50 restaurant chains compared to 5% within the overall industry, per Circana data. Restaurant Dive

‘Bigger than the Super Bowl’: Americans are spending big on eclipse tourism

The total solar eclipse, which will be visible from more than a dozen states, is fueling a small spending boom across the nation. Seattle Times

COMINGS & GOINGS

• Pizza Hut US president resigns Restaurant Dive
  
• Rosie Huntington-Whiteley Joins The Equity Studio, a New Investment Firm Backing Beauty, Wellness, Lifestyle Brands WWD
• Alessandro Michele Named Valentino Creative Director BoF
• Vince CEO steps down Retail Dive