Weekly Consumer News Roundup // August 6, 2024

This week, Walmart vies for next gen shoppers with I-Commerce site Walmart Realm, back-to-school spending could reach nearly $40 billion, and more.

WORDS FOR THE WEEK

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

M&A and INVESTMENTS

• Food giant Mars is exploring an acquisition of $20B-listed snack maker Kellanova Reuters
• L’Oreal Buys Stake valued at $1.85B in Swiss Skincare Company Galderma WSJ
• CD&R is exploring a sale of card maker American Greetings for $1.5B Reuters
• Ziff Davis is acquiring CNET for more than $100 million NYT
• Blackstone in bid to acquire shopping center owner Retail Opportunity Reuters
  
• Nonni’s Bakery to be acquired by Ferrero company Food Business News
• Bending Spoons acquires file transfer service WeTransfer TechCrunch
• Hanes Outlet and Maidenform stores acquired by Hilco division CSA
• Reddit will acquire GenAI ad startup Memorable AI Bloomberg
• Under Armour acquires zero-plastic fashion brand Unless SGB Media

INDUSTRY NEWS

CPG

How Brightland strategically grew its Whole Foods presence

Brightland initially said no to two requests from Whole Foods to carry its products. But the olive oil brand changed its mind after it finally felt ready to conquer wholesale. Modern Retail

Coffee is becoming a luxury, and there’s no escaping it

Higher production costs could lead to coffee price inflation: Coffee lovers may have to shell out more in the future as prices surge. Roasters and coffee experts are also signaling that prices could remain higher for longer, as factors like climate change reduce the coffee global supply. CNN

After Years of Raising Prices, Food Companies Hit Consumers’ Limits

Food companies are working on fixes for consumers fed up with high prices, while trying to protect some of the biggest profits earned in years. WSJ

Little Spoon x Graza Launched Limited-Edition Meals for Gen Alpha

The Little Spoon x Graza Babyblend and Biteable were purposefully created to help little ones explore new flavors and receive the many brain-boosting benefits of extra virgin olive oil. TrendHunter

The Future of Junk Food Could Be Healthy Food

The boldest move a struggling packaged food company could make right now is taking the leap from preservatives to the farm. Bloomberg

Pringles leads the pack as Kellanova touts sales growth

The snacking company’s CEO Steve Cahillane told investors the chip brand is driving volume improvements in North America. Food Dive

RETAIL

Savage x Fenty Expands Distribution With First U.S. Retail Partner

The Rihanna-founded intimates, loungewear and sportswear brand will be available at 16 select Nordstrom stores. WWD

Retailers Locked Up Their Products—and Broke Shopping in America

CVS, Target and other chains have barricaded everything from toiletries to cleaning supplies. It’s backfired in almost every way. Bloomberg

Furniture retailers like Wayfair suffer as fewer people buy homes

Besides Wayfair, furniture retailers RH, Ethan Allen and Williams-Sonoma have all seen revenue declines in recent months. Turns out, the furniture industry is feeling some collateral damage from a stuck housing market. Marketplace

Retail space availability has reached its lowest point in decades

As retailers push into new cities and brands lean hard into brick-and-mortar as a strategy, it has become incredibly difficult to find space for a new storefront. Modern Retail

So much for TikTok’s ‘underconsumption’ trend, as back-to-school shopping hits its stride

TikTok’s ”#underconsumptioncore” trend has been displaced by the start of the back-to-school shopping season — and with it ”#backtoschoolhauls.” CNBC

MEDIA & TECH

Walmart Vies for Next Gen Shoppers with I-Commerce Site Walmart Realm

In a move to capture Gen Z and even Gen Alpha shoppers, Walmart has launched an immersive virtual commerce site that taps social media content creators and Pinterest to curate clothing, furniture, and beauty items in a metaverse style format. CEW

TikTok Shop increases sellers fees as it plans to build the "marketplace of the future"

TikTok Shop has confirmed changes to its seller fee structure, as the platform commits to building the "marketplace of the future", which will prioritise LIVE commerce and shoppable content. theIndustry.beauty

RESTAURANTS & HOSPITALITY

Taco Bell to roll out AI drive-thru ordering in hundreds of locations by end of year

The restaurant company announced that it is expanding its rollout of the tech in the U.S. as it eyes implementing it in drive-thru lanes globally. CNBC

Why Americans are snubbing McDonald’s and Starbucks

It’s not as if Americans have suddenly given up fast food, but after several years of rising prices, we’re seeking out deals where we can find them and splurging on the stuff we really want. CNN

How 4 chains are chasing Chipotle

From small regional brands to old challengers undergoing an overhaul, Mexican brands are relying on menu differentiation and franchising to catch the segment leader. Restaurant Dive

IHOP, Denny’s join value menu wars to win back price-conscious consumers

The two companies are the latest restaurants trying to appeal to consumers being more selective with their dollars in the wake of price increases. CNN

COMINGS & GOINGS

• Campbell Soup names SVP, CMO of meals, beverage unit Food Business News
• Papa Johns appoints former Wendy’s chief as CEO Restaurant Dive
• American Eagle Outfitters Names Stephanie Pugliese to Its Board WWD
• Equinox Fitness Appoints President SGB Media
  
• Kate Spade Taps Eva Erdmann as CEO and Brand President WWD
• Bogner’s CEO To Exit at Year’s Close SGB Media