--- title: Weekly Consumer News Roundup // May 14, 2024 description: This week, YouTube viewership ascends as cord cutting weighs on traditional TV, Temu cools on the U.S. after shelling out billions, and more. image: https://images.fastcompany.com/image/upload/f_auto,c_fit,w_3840,q_auto/wp-cms-2/2024/05/p-91121437-Olive-oil-maker-Graza-is-cracking-open-a-new-way-to-refill-its-iconic-bottles.jpg --- [![logo-vert-traub (2)](https://blog.traub.io/hs-fs/hubfs/TRAUB_September2019/Image/logo-vert-traub%20(2).png?width=456&height=312&name=logo-vert-traub%20(2).png "logo-vert-traub (2)")](http://traub.io/) - [Who We Are](https://www.traub.io/who-we-are/) - [What We Do](https://www.traub.io/what-we-do/) - [Meet Our Team](https://www.traub.io/our-team/) - [See Our Work](https://www.traub.io/case-studies/) - [Read Our Content](https://www.traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) # Weekly Consumer News Roundup // May 14, 2024 By [TRAUB](https://blog.traub.io/blog/author/traub) On May 14, 2024 [![Share on facebook](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/facebook-color.png?width=24&name=facebook-color.png)](https://blog.traub.io/blog/linkedin.com/company/traub-consulting) [![Share on linkedin](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/linkedin-color.png?width=24&name=linkedin-color.png)](https://www.linkedin.com/company/traub-consulting/) [![Share on email](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/email-color.png?width=24&name=email-color.png)](mailto:info@traub.io) 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** ![IMG_2675 (1)](https://blog.traub.io/hs-fs/hubfs/IMG_2675%20(1).jpg?width=320&height=317&name=IMG_2675%20(1).jpg) For more inspiration, visit @dailystoic and @dailyphilosopher on Instagram.    **M&A and INVESTMENTS** - Walgreens Contacts Potential Buyers for £7 Billion Boots Drugstore Chain [Bloomberg](https://www.bloomberg.com/news/articles/2024-05-13/walgreens-said-to-contact-potential-buyers-for-drug-chain-boots?embedded-checkout=true) - Simon Property Group sells remaining stake in Authentic Brands Group for $1.2 billion [SGB Media](https://sgbonline.com/simon-property-group-sells-stake-in-authentic-brands-group/) - Meati Foods Adds 2,000 Retail Locations; Raises $100 Million [Yahoo](https://finance.yahoo.com/news/meati-foods-adds-2-000-120000920.html) - Richemont Acquires Italian Jeweller Vhernier [BoF](https://www.businessoffashion.com/news/luxury/richemont-acquires-italian-jeweller-vhernier/) - Shuttered Foxtrot assets sell for $2.2M [Supermarket News](https://www.supermarketnews.com/retail-financial/shuttered-foxtrot-assets-sell-22m) - Vice Media partners with Savage Ventures to relaunch digital brands [Axios](https://www.axios.com/2024/05/09/vice-media-relaunch-savage-ventures) - Cocoa Supplier Natra in Talks to Buy Chocolate Duo Gubor, Nutkao [Bloomberg](https://www.bloomberg.com/news/articles/2024-05-10/cocoa-supplier-natra-in-talks-to-buy-chocolate-duo-gubor-nutkao?srnd=deals&utm_source=www.execsum.co&utm_medium=newsletter&utm_campaign=sunset-over-the-renaissance&embedded-checkout=true) - B&G Foods exploring sale of Green Giant frozen, canned vegetable businesses [Food Dive](https://www.fooddive.com/news/bg-foods-sale-green-giant-frozen-canned-vegetable-businesses/715605/) - Kraft Heinz Explores Sale of Oscar Mayer [WSJ](https://www.wsj.com/business/deals/kraft-heinz-explores-sale-of-oscar-mayer-ef5e1540) - Mytheresa Is Considering Going Private, and Acquiring Net-a-porter [WWD](https://wwd.com/business-news/financial/mytheresa-net-a-porter-go-private-buyout-1236376129/#recipient_hashed=9cf9afac0461e3d68d6beade81273a9f68029f9c0072ddad3f22c2d55d98bf9a&recipient_salt=c146545778a13bb4470f25002d090f0db84ee16544e47d8b641af88764771819) - UK mining giant Anglo American to offload De Beers diamond business [BBC](https://www.bbc.com/news/articles/c88zz55p5q7o)   ## **CULTURE/GOODREADS** - ‘The death of the mall was a myth’: Brookfield Properties CEO on the evolution of an aging retail concept [Retail Dive](https://www.retaildive.com/news/Brookfield-Properties-CEO-malls-department-stores-Gen-Z/715243/) - Sephora And Ulta Aren't Meeting The Needs Of Young Consumers [Forbes](https://www.forbes.com/sites/richardkestenbaum/2024/05/13/sephora-ulta-and-drunk-elephant-dont-want-to-talk-about-this-issue/?sh=48e146f12896) - Why Companies Are Nervous About the Consumer [NYT](https://www.nytimes.com/2024/05/10/business/dealbook/companies-nervous-consumer-profit.html)   ## **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](https://www.modernretail.co/operations/hilma-enters-walmart-as-part-of-the-retailers-new-focus-on-gut-health-assortment/)   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](https://www.modernretail.co/operations/interest-in-energy-drinks-continues-to-explode-even-as-brands-experiment-with-new-ingredients-and-caffeine-content/)   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](https://www.fooddive.com/news/kellanova-pringles-mingles-puffs-launch-announcement-october-bowtie-shape-puffed/715756/)   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](https://www.axios.com/2024/05/09/huy-fong-sriracha-shortage-2024)   [![Trendy olive oil brand Graza is cracking open a new way to refill its iconic bottles](https://images.fastcompany.com/image/upload/f_auto,c_fit,w_3840,q_auto/wp-cms-2/2024/05/p-91121437-Olive-oil-maker-Graza-is-cracking-open-a-new-way-to-refill-its-iconic-bottles.jpg)](https://www.fastcompany.com/91121437/graza-olive-oil-beer-can-refill) 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](https://www.fastcompany.com/91121437/graza-olive-oil-beer-can-refill)     **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](https://www.reuters.com/business/retail-consumer/us-online-retail-spending-up-7-jan-april-driven-by-demand-cheaper-products-2024-05-09/)   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](https://www.modernretail.co/operations/kohls-new-brand-partnerships-with-babies-r-us-and-instacart-feel-like-deja-vu/)   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](https://www.forbes.com/sites/gregpetro/2024/05/09/retail-brand-clout-fades-as-savvy-consumers-shop-around/?sh=7c510d7d80d2)   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](https://www.axios.com/2024/05/09/target-pride-month-collection-2024)   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](https://www.cnbc.com/2024/05/09/planet-fitness-raises-prices-even-as-customers-grow-cost-conscious.html)   Walmart to Lay Off and Relocate Workers Retailer cutting hundreds of corporate jobs and asking some staff to move to corporate hubs. [WSJ](https://www.wsj.com/business/retail/walmart-to-lay-off-and-relocate-workers-d1c909a7)   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](https://www.glossy.co/fashion/uniqlo-parent-fast-retailing-is-betting-big-on-us-stores/)   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](https://www.reuters.com/business/retail-consumer/home-depot-posts-bigger-than-expected-quarterly-comparable-sales-drop-2024-05-14/)   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](https://www.wsj.com/business/retail/temu-cools-on-the-u-s-after-shelling-out-billions-4fa2092b?mod=business_feat8_retail_pos1)     **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](https://www.reuters.com/technology/livestream-shopping-thwarts-some-high-tech-tools-stop-fake-merch-2024-05-07/)   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](https://abcnews.go.com/Business/tiktok-sues-block-potential-ban-win/story?id=110020752)   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](https://www.cnbc.com/2024/05/08/disney-warner-bros-discovery-bundle-streaming-services.html)   [![](https://blog.traub.io/hs-fs/hubfs/image-png-May-14-2024-02-35-03-6645-PM.png?width=320&height=233&name=image-png-May-14-2024-02-35-03-6645-PM.png)](https://www.wsj.com/business/media/youtube-viewership-cable-25bf3589?mod=business_feat1_media_pos1) 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](https://www.wsj.com/business/media/youtube-viewership-cable-25bf3589?mod=business_feat1_media_pos1)   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](https://www.wsj.com/business/media/comcast-to-launch-streaming-bundle-of-peacock-netflix-and-apple-tv-7f35e110?mod=business_lead_pos1)   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](https://www.cnn.com/2024/05/08/tech/roblox-earnings-2024/index.html)     **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](https://www.bloomberg.com/news/articles/2024-05-07/panera-axes-charged-drinks-that-have-sparked-lawsuits?srnd=undefined&embedded-checkout=true)   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](https://www.cnn.com/2024/05/09/investing/premarket-stocks-trading-travel-demand/index.html)   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](https://www.bloomberg.com/news/articles/2024-05-10/mcdonald-s-mcd-readies-5-meal-bundle-to-lure-diners-back-into-stores?embedded-checkout=true)   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](https://www.cnbc.com/2024/05/11/sweetgreen-chipotle-and-wingstop-arent-seeing-a-consumer-slowdown.html)   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](https://www.cnn.com/2024/05/13/business/red-lobster-is-abruptly-closing-dozens-of-restaurants/index.html)   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](https://www.nytimes.com/2024/05/14/travel/luxury-hotel-experiences.html)     COMINGS & GOINGS - Gap Names PepsiCo Exec as Global Chief Marketing Officer [BoF](https://www.businessoffashion.com/news/retail/gap-new-global-cmo/) - Smoothie King hires Yum Brands exec as CFO [Restaurant Dive](https://www.restaurantdive.com/news/smoothie-king-hires-yum-exec-gavin-felder-cfo/715569/) - Tory Burch Names New President of North America [WWD](https://wwd.com/business-news/markets/tory-burch-president-christophe-de-pous-chief-people-officer-1236376306/) - Melinda Gates to exit Gates Foundation with $12.5 bln for own charity work [Reuters](https://www.reuters.com/business/melinda-gates-step-down-co-chair-bill-melinda-gates-foundation-2024-05-13/) - Funko Taps Former Hasbro Executive as CEO [WSJ](https://www.wsj.com/business/c-suite/funko-taps-former-hasbro-executive-as-ceo-a9af0b77?mod=business_feat1_c-suite_pos2) - Amazon Web Services CEO Adam Selipsky to step down [CNBC](https://www.cnbc.com/2024/05/14/amazon-web-services-ceo-adam-selipsky-to-step-down.html) - The British Footwear Association Appoints New CEO [SGB Media](https://sgbonline.com/the-british-footwear-association-appoints-new-ceo/) - Sony to Adopt New Dual-CEO Structure for Videogame Unit [WSJ](https://www.wsj.com/business/media/sony-to-adopt-new-dual-ceo-structure-for-videogame-unit-2073f7e4?mod=business_feat1_media_pos2) ### Subscribe Here! 477 Madison Avenue, 18th Floor New York, NY 10022 (646) 723-2990 [info@traub.io](mailto:info@traub.io) ![TRAUB](https://blog.traub.io/hubfs/TRAUB_September2019/Image/traub-logo.png) - [Who We Are](http://traub.io/who-we-are/) - [What We Do](http://traub.io/what-we-do/) - [Meet Our Team](http://traub.io/our-team/) - [See Our Work](http://traub.io/case-studies/) - [Read Our Content](http://traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) Traub © 2023