Weekly Consumer News Roundup // May 14, 2024

This week, YouTube viewership ascends as cord cutting weighs on traditional TV, Temu cools on the U.S. after shelling out billions, and more.

WORDS FOR THE WEEK

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M&A and INVESTMENTS

• Walgreens Contacts Potential Buyers for £7 Billion Boots Drugstore Chain Bloomberg
• Simon Property Group sells remaining stake in Authentic Brands Group for $1.2 billion SGB Media
• Meati Foods Adds 2,000 Retail Locations; Raises $100 Million Yahoo
• Richemont Acquires Italian Jeweller Vhernier BoF
• Shuttered Foxtrot assets sell for $2.2M Supermarket News
• Vice Media partners with Savage Ventures to relaunch digital brands Axios
• Cocoa Supplier Natra in Talks to Buy Chocolate Duo Gubor, Nutkao Bloomberg
• B&G Foods exploring sale of Green Giant frozen, canned vegetable businesses Food Dive
• Kraft Heinz Explores Sale of Oscar Mayer WSJ
• Mytheresa Is Considering Going Private, and Acquiring Net-a-porter WWD
• UK mining giant Anglo American to offload De Beers diamond business BBC

CULTURE/GOODREADS

• ‘The death of the mall was a myth’: Brookfield Properties CEO on the evolution of an aging retail concept Retail Dive
• Sephora And Ulta Aren't Meeting The Needs Of Young Consumers Forbes
• Why Companies Are Nervous About the Consumer NYT

INDUSTRY NEWS

CPG

Hilma enters Walmart as part of the retailer’s new focus on gut health assortment

Hilma is the latest digestive health startup to enter Walmart, as part of the retailer's push to modernize this category. Modern Retail

Interest in energy drinks continues to explode even as brands experiment with new ingredients and caffeine content

Investor interest in cleaner, healthier energy drinks shows no signs of fizzling out. Modern Retail

Kellanova to launch Pringles Mingles puffed snack

The offering, which hits shelves in October, comes as the snacking giant prioritizes innovating the $3.2 billion chip brand and other products within its portfolio. Food Dive

Huy Fong halts sriracha production, sparking shortage fears

Another sriracha shortage could be coming to a supermarket near you after Huy Fong Foods halted production of its popular spicy red sauce for several months. The California-based company said in a letter to wholesale suppliers that it has halted production until after Labor Day because its red jalapeño peppers are too green. Axios

Trendy olive oil brand Graza is cracking open a new way to refill its iconic bottles

With its clever refill cans, the go-to olive oil for TikTok chefs and shoppy shops is making a play for sustainability-minded consumers—with characteristic playfulness. Fast Company

RETAIL

US online retail spending up 7% Jan-April, driven by demand for cheaper products

Consumer discretionary spending has been in focus over the past several months, as sticky inflation has forced shoppers in various categories to trade down to more affordable products. Reuters

Kohl’s new brand partnerships with Babies R Us and Instacart feel like déjà vu

Over the years, Kohl's has launched a slew of unlikely brand partnerships, including with Sephora and Amazon. Recently, Kohl's announced two more brand tie-ups, this time with Instacart and Babies R Us. Modern Retail

Retail Brand Clout Fades as Savvy Consumers Shop Around

The retail industry's approach to branding is changing due to consumer and AI influences. Forbes

Target cuts Pride Month products from some stores after backlash

Target will sell its Pride Month collection in fewer stores after last year's right-wing backlash over LGBTQ+-themed products. Axios

Planet Fitness is raising prices even as it warns customers are growing cost-conscious

Planet Fitness is hiking its base-level membership prices for new customers for the first time since 1998, even as the gym operator warns that customers are growing increasingly cost-conscious. CNBC

Walmart to Lay Off and Relocate Workers

Retailer cutting hundreds of corporate jobs and asking some staff to move to corporate hubs. WSJ

Uniqlo parent Fast Retailing is betting big on US stores and targeting Gen Z

Fast Retailing, the Japanese apparel company, is largely known to U.S. customers through its biggest brand, Uniqlo. Now, the company is introducing another one of its brands, GU, to American customers. Glossy

Home Depot sales drop more than expected as wary customers delay big projects

Customers have slashed discretionary spending and put pricey renovations on hold as they adjust to higher borrowing costs and elevated inflation, leading to a turbulent 2023 for home improvement retailers like Home Depot and Lowe's Cos. Reuters

Temu Cools on the U.S. After Shelling Out Billions

App looks to reduce reliance on American shoppers as growth slows and scrutiny of TikTok grows. WSJ

MEDIA & TECH

‘Livestream’ shopping thwarts some high-tech tools to stop fake merch

The nature of livestream transactions makes it hard to identify and weed out counterfeits and fakes despite growth of new technologies aimed at detecting infringement. Reuters

TikTok sues to block potential ban. Can it win?

ByteDance, the parent company of TikTok, struck the latest blow in a high-stakes clash between the social media company and the U.S. government, filing a lawsuit this week challenging a forced sale of TikTok as unconstitutional. ABC News

Disney, Warner Bros. Discovery to bundle streaming services

Disney and Warner Bros. Discovery are planning to offer their streaming services — Disney+, Hulu and Max — in a bundle mirroring the traditional cable TV package. CNBC

What’s on TV? For Many Americans, It’s Now YouTube

People spent nearly 10% of their TV-viewing time watching the service, home to videos by creators like MrBeast. WSJ

Comcast to Launch Streaming Bundle of Peacock, Netflix and Apple TV+

New bundle, called StreamSaver, to be available exclusively to subscribers of Comcast’s internet service. WSJ

Roblox shares slide as metaverse giant reports player spending has slowed

Roblox shares slid more than 20% in early trading, as the gaming giant dialed back its forecasts for growth and first-quarter earnings showed player spending is slowing. CNN

RESTAURANTS & HOSPITALITY

Panera Axes ‘Charged’ Lemonades and Other Drink That Sparked Lawsuits

Panera Bread is dropping its heavily caffeinated Charged Lemonades that have been the subject of lawsuits alleging the drinks can cause health issues. Bloomberg

Americans are shopping less but they’re still spending on flights, hotels and Disneyland

Consumers may be fed up with high prices at the store, but they’re still willing to splurge on travel. CNN

McDonald’s Will Offer a $5 Meal Deal to Lure Customers Back Into Stores

Franchisees have already rejected the plan once, so the fast-food chain is trying to sweeten the proposition. Bloomberg

Sweetgreen, Chipotle and other fast-casual chains are bucking the consumer slowdown

Fast-casual restaurant chains haven’t seen the same consumer slowdown as the broader industry. CNBC

Red Lobster is abruptly closing dozens of restaurants

Struggling Red Lobster is abruptly closing at least 48 of its restaurants around the country, according to a leading restaurant liquidator. CNN

Looking for ‘a Different Kind of Wow’: Next Level Hotel Experiences

From cooking with a Michelin-star chef to taking a chauffeured shopping spree in Singapore, hotels and resorts are offering ever-more-lavish activities for guests. NYT

COMINGS & GOINGS

• Gap Names PepsiCo Exec as Global Chief Marketing Officer BoF
• Smoothie King hires Yum Brands exec as CFO Restaurant Dive
• Tory Burch Names New President of North America WWD
• Melinda Gates to exit Gates Foundation with $12.5 bln for own charity work Reuters
• Funko Taps Former Hasbro Executive as CEO WSJ
• Amazon Web Services CEO Adam Selipsky to step down CNBC
• The British Footwear Association Appoints New CEO SGB Media
• Sony to Adopt New Dual-CEO Structure for Videogame Unit WSJ