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On this week's Modern Retail Rundown: November saw the U.S.'s monthly retail revenue grow by 0.7%, with solid holiday sales expected to come. Meanwhile, Big Lots said it is planning to close all its remaining stores in 2025 after the company failed to strike a sale deal. Lastly, DTC athleisure brand Vuori now has a $5.5 billion valuation coming off of a major fundraising round. The latest update has Wall Street once again predicting the startup to go public sometime soon.
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Puma may be a legacy brand, but it's not scared to test out new technologies.
Indeed, if there's a buzzy update, it's likely the company has launched some sort of beta with it. Puma launched a Roblox experience in 2022, it's tested out NFTs and other Web3 programs and has dabbled in augmented reality. Most recently, the sports apparel brand launched a generative AI tool that allows anyone to design a kit for Manchester City.
According to the person leading the charge of these emerging technologies, the hope is to make sure the brand stays on the cutting edge. "A big part of this is just making sure that we are innovating," said Ivan Dashkov, Puma's head of emerging marketing tech. "And, as these technologies become a larger part of everybody's day-to-day life, that we're not straggling behind."
Dashkov joined this week's Modern Retail Podcast and dove into the company's approach to new types of technology, as well as the way it analyzes the success of nascent campaigns.
Dashkov knows a thing or two about testing out new programs. His background was in social media before it was ubiquitous. "I was there for the early days of social at the NBA, and I kind of feel like it's a very similar place now with these new emerging technologies," he said. Now, social media is a dominant force -- and Dashkov believes that's going to happen with some of these programs.
The challenge for him is figuring out where to invest time and resources, as well as sussing out what the next big thing is. Some of that involves keeping an ear to the ground. "A crazy thing that was happening with a lot of the executives at the company [was]: they were asking their kids what they wanted for Christmas, and instead of saying like a toy or video game, they were actually asking for Robux to spend in Roblox," he said. This is what led Puma to test out the Roblox platform.
Similarly, with generative AI, the company has seen people wanting to design their own kits for their beloved teams, but Puma has been unable to make a program at scale. "With AI, you can really scale that," he said. "Like, anybody can kind of go in and use this tool." -
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On this week's Modern Retail Rundown, the staff discusses a new lawsuit by the Federal Trade Commission of Southern Glazer’s Wine and Spirits, which alleges the alcohol distributor has favored large chains over independent retailers in its pricing practice. Also this week, a new report from the Wall Street Journal claims that Walgreens is in talks with PE firm Sycamore Partners to take the struggling drugstore chain private. Lastly, we discuss a Bloomberg report about Amazon actively cracking down on paid product reviews by reaching out to their creators on social media.
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Better-for-you snack brand Chomps has big plans to take the convenience store space by storm. But it's being choosy about which stores it expands into.
Chomps, which is best known for its high-protein meat sticks, has been around since 2012 and has been slowly expanding. Its first major retail deal was with Trader Joe's in 2016. The company was small and, at the time, most sold online. But it knew that a major wholesale partnership could take it to the next level.
"That was a game changer for us," co-founder and co-CEO Pete Maldonado said on the Modern Retail Podcast. "I mean, literally overnight, you've got millions of new customers and people trying the product for the first time -- and it really just snowballed from there."
Maldonado spoke about Chomps' growth over the years as well as its new approach to convenience stores. It recently launched in both Wawa and Sheetz and is figuring out how best to showcase its products to those shoppers. Currently, its products are available in over 20,000 retail doors.
"We just want to make sure that when customers see it -- especially in a new channel -- they can see it and, within two seconds, they understand what it is," he said. A lot of that requires smart packaging as well as in-store displays that explain Chomps' products.
While C-stores are now a big focus, Maldonado said that product isn't perfect for every type of store.
"We're a premium product," he said. "It's got to be an area where people actually understand the value proposition and are willing to pay for it." -
On this week's Modern Retail Rundown, the staff discusses the state of mall traffic, including Simon's big marketing-fueled boost on Black Friday weekend. Additionally, we dive into a Wall Street Journal report that PE firm Gryphon Investors is eyeing an acquisition of sparkling water brand Spindrift worth $650 million. Moreover, Foot Locker lowered its holiday quarter guidance as it struggles, some of which the retailer blamed on slowing Nike sales.
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E-bikes are becoming more popular in the U.S. and Upway is trying to capitalize on this demand.
The secondhand e-bike platform launched at the end of 2021 and has expanded beyond its Europe home into the United States in early 2023. The France-based company's model controls the entire supply chain -- buying used bikes directly from the source, inspecting them in its warehouses and then shipping to customers.
In Europe, Upway is available in France, Belgium, Germany and The Netherlands, but the U.S. is a major focus, said Toussaint Wattinne, the company's co-founder and CEO.
"Clearly, the e-bike market is not at the same maturity level in the U.S. versus Europe," he said on the Modern Retail Podcast. "As a European company, it was super important for us to actually make sure we were looking at the U.S. as a standalone and from a blank sheet of paper approach, rather than try to copy/paste what has worked in Europe."
This approach meant that Upway had to understand the needs of the U.S. e-bike shopper -- which differed from state to state. Some geographies buy e-bikes for more leisurely rides, others use them for urban commutes. And while delivery people on e-bikes may be widespread in major cities like New York, "in the U.S. today, couriers actually represent probably sub-15% if not sub-10% of that total volume," Wattinne said.
As a result, Upway has been focused on figuring out a unique marketing strategy that speaks to the U.S. market. The first task was gaining bottom-of-funnel awareness via channels like Google.
Now, the company is looking at other ways to grow its U.S. presence. This includes a new warehouse in Los Angeles. It also means the company can begin thinking about other types of brand marketing.
"As we grew and as we grew confident about understanding our audience," Wattinne said, "we were able to start going a little closer to the middle of the funnel." -
On this week's Modern Retail Rundown, the staff discusses big box retailers' outlook on their end-of-year quarter, including Walmart's upbeat forecast and Target's less optimistic expectations. Moreover, Shein and Temu pose an additional threat to U.S. retailers this year, with more shoppers planning to buy from these China-based marketplaces. Finally, Modern Retail's research team highlights data from brands and their holiday revenue forecast.
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Holiday shopping is in full swing and that means there are endless retail topics to discuss.
That's why this week on the Modern Retail Podcast, we brought on our colleagues at the Glossy Beauty Podcast to talk about the major retail narratives we're observing.
Modern Retail's editor-in-chief Cale Guthrie Weissman joined Glossy's West Coast correspondant Lexy Lebsack and senior reporter Sara Spruch-Feiner and dove into the major shopping trends dominating this holiday season.
They discussed holiday sales forecasts and what that means for brands. "People will be spending a little bit more than last year," said Lebsack. 'We're set to spend almost a trillion dollars in the last two months of the year."
Other topics include the rise of chaos shopping alongside new plaforms like Temu and Amazon's Haul. "I think there's a lot of high-income people spending in a very chaotic way on Tiktok Shop, and potentially that might be what Amazon is going for [with Haul]," said Spruch-Feiner.
They also talked about brands marketing their products for self-gifting. "I do think that there are a lot of brands that are doing specific marketing for self-gifting," said Weissman. "And I do think that it is fitting with where we are culturally right now in the United States." -
On this week's Modern Retail Rundown, the staff discusses major retail strategy shifts. First, Target reported a less-than-stellar third-quarter earnings. Next, REI announced plans to crack down on serial returners. Last up, the team dives into reports that Starbucks is considering selling its Chinese business.
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The espresso martini has been having a moment for the last few years.
According to NIQ CGA’s cocktail tracker, in 2023, orders for espresso martinis doubled in velocity and dethroned the Long Island Iced Tea as the sixth most popular cocktail. Riding this wave is the coffee liqueur Mr. Black, which, since its U.S. launch in 2017, has driven one-third of the total retail sales growth in the coffee liqueur category.
Mr. Black launched in Australia but has become an international phenomenon; it was acquired by Diageo in 2022. According to the brand's co-founder and now-creative director, Tom Baker, though the espresso martini wasn't popular when it launched, he had a feeling a well-crafted coffee-based liqueur would be a global hit.
"I just had this sense that every bar in the world would one day want to buy this product from us," he said on the Modern Retail Podcast. "And that was all the strategy that went into it."
There were a few elements that led to Mr. Black's growth. For one, it became a key ingredient in a popular cocktail. Additionally, Baker knew that the brand's success was predicated on key placements in New York City.
"It was sort of the hub of cocktail culture," he said. "All roads kind of lead there, especially in liquor." So, Baker and a friend went door to door to get some of the best bars and liquor stores to sell the product. From there, the company made sure to keep the right celebrities and influencers abreast with its growth.
One thing led to another, and Mr. Black was able to reach the big time.
"All of a sudden, without you knowing, it's [Stephen] Colbert and [Hugh] Jackman drinking a Mr. Black Espresso Martini," he said. "So it definitely is equal parts an extraordinary amount of hard work and an extraordinary amount of luck." -
On this week’s Modern Retail Rundown, the staff discusses Red Lobster's rebrand plan, which was outlined by its new CEO, Damola Adamolekun. Then, after more than a year of litigations, Tapestry said it is no longer pursuing its $8.5 billion acquisition of Capri. Finally, Amazon’s One Medical service announced it will begin offering virtual treatment plans for ailments like hair loss and skin care, among others.
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KiwiCo has built a profitable subscription business, but it sees retail expansion as key for this year's holiday sales.
"We're really excited about our retail efforts," KiwiCo founder and CEO Sandra Oh Lin said on this week's Modern Retail Podcast.
Lin launched the children's education product company in 2011. KiwiCo sells themed packages -- what it calls crates -- to kids every month based on certain subjects. There are science crates, geography crates, art crates and more. It recently launched a revamped version of its subscription service, called Clubs, that is now more on interests.
Over the years, the company has expanded its product lines to encompass more ages and topics. In 2014, it expanded beyond preschool-aged crates into three additional age bands. "You can really draw a line to our first month of profitability from that particular set of initiatives that we launched," Lin said.
Now, KiwiCo offers products for kids age between the ages of 0 and 16, has sold over 50 million products and is profitable.
Lin spoke about why subscription was right for her type of product. "I think the key thing for us is that we have been very thoughtful about what makes sense for those customers," she said. "And the subscription model happens to have worked really well."
Now, the company is focused on expanding beyond that. Earlier this year it launched in both Target and Barnes & Noble. "I think there's a lot of different opportunities that are coming up thanks to the partnership with these with these retailers," Lin said.
Specifically, she sees these retailers helping grow holiday sales. "it's been really great because we've seen a real willingness from these retailers to work with us and to partner with us during the holidays," she said. -
On this week’s Modern Retail Rundown, an overview of the potential importing tariffs the retail industry faces, as proposed by Trump’s incoming administration. Elsewhere, retail bankruptcies continue as companies like The Vitamin Shoppe and Blink Fitness seek bailouts to avoid going out of business. Finally, Shein has brought on another legacy American retailer, The Children’s Place, to sell on its marketplace.
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"Even the most vanilla celebrity will do something stupid from time to time," admitted Woodie Hillyard. But Hillyard isn't working with the most vanilla celebrity -- he's working with Jake Paul.
Paul is an online star with over 20 million subscribers on YouTube alone, known for wild publicity stunts. Most recently, Paul has taken up boxing, with an upcoming scheduled match with Mike Tyson later this month. But Paul, like many other creators, is trying to build consumer-facing brands as well.
Hillyard is the CEO of W, Paul's personal care brand, which currently offers products like body wash, deodorant and shampoo. It launched earlier this year with distribution in Walmart. Hillyard knows a thing or two about growing brands alongside influencers. He's the former chief revenue officer of Safely, Kris Jenner's home cleaning startup.
He joined this week's Modern Retail Podcast and spoke about the launch strategy of W and how it plans to grow in the coming year.
In Hilliard's estimation, it's much harder to launch a new brand now than ever before. That's why he's so bullish on creator-led businesses. "During the heyday of DTC, when Warby Parker and Harry's and Casper were scaling, you could acquire customers for a pretty reasonable clip and drive a lot of traffic to your website," he said. "That arbitrage has gone away now. That new arbitrage, in my mind, is creator, because creators have this massive embedded audience of people who want to associate with them."
According to Hillyard, W's launch has been a smashing success. Now, it has plans to go into more stores beyond Walmart. For now, that's probably online platforms like Amazon and GoPuff, but more physical stores are likely on the horizon as well.
But, for now, the brand is dependent on the figurehead behind it. Hillyard said W plans to expand beyond Paul's shadow. But for now, he believes that Paul -- despite his headline-worthy shenanigans -- is the right person to launch a brand like W.
"There's always a risk there," he said. "But I think the thing about Jake is he's one of the smartest business minds I've ever worked with." -
On this week’s Modern Retail Rundown, the staff breaks down the struggling sales of coffee giants Starbucks and Keurig. Next, Etsy posts early positive signs of holiday sales. Finally, sandwich chain Subway is facing legal action over the alleged false advertising of its sandwich, which some customers say contains much less meat in reality.
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There are a lot of mixed signals about how holiday sales will perform this year, but DTC jewelry brand Awe Inspired is bullish.
Awe Inspired sells jewelry like necklaces and bracelets, but they all feature pendants or charms meant to showcase empowerment, such as a Greek goddess or an astrological sign. The company's sales are up 45% this year, and it has become a celebrity favorite with people like Taylor Swift and Julia Fox showing off their Awe Inspired products. "We have some forces propelling us forward, so I'm planning to have a great holiday," co-founder and CEO Max Johnson said on the Modern Retail Podcast.
Johnson spoke about the company's growth over the years, its marketing strategy as well as what he's focused on for this holidays this year.
Awe Inspired first launched in 2018 while Johnson was working as a product manager at a telehealth platform. But it wasn't until 2020 that the company really began to see traction. The brand often partners with organizations promoting causes; it saw big spikes in popularity with jewelry like a Harriet Tubman pendant alongside the NAACP and a Florence Nightingale charm with the National Federation of Nurses that was introduced during the pandemic.
With these launches came organic virality. In the case of the nurse pendant, for example, "the cast of Grey's Anatomy wore it," said Johnson.
Now, Awe Inspired is trying to expand to offer more types of jewelry that reach new types of customers. "We're building a charm business," Johnson said. -
On this week’s Modern Retail Rundown, the staff breaks down the latest M&A play, Keurig Dr Pepper’s acquisition of the 8-year-old energy drink startup Ghost. This week, Tupperware's assets were bought out by its lender following the company's bankruptcy filing. And, starting November 1 through February.
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Death & Co is an internationally known cocktail bar. It first began in New York but has expanded to other cities like Los Angeles and Washington, DC. But the company has big ambitions to grow even more.
That's what led to the creation of Gin & Luck, the umbrella company of the bar that launched in 2018. According to David Kaplan, who started Death & Co in 2006 and is now CEO of Gin & Luck, the idea is "to create a unified hospitality landscape where we could have all of these entrepreneurial pursuits -- all of our Death & Co growth -- under one company."
That includes more Death & Co locations opening up over the next year, as well as a cocktail bar brand called Close Company. It also means retail opportunities like an online marketplace, a book business and an e-learning platform.
Kaplan joined this week's Modern Retail Podcast and spoke about how he's approaching transforming a popular bar into a global business.
While there are many different parts of the business, the bars are still core. "Our primary economic engines -- and the focus points of our business -- really are our brick and mortars," he said.
Still, the other areas are integral to Gin & Luck's growth. "Everything else that we do -- our marketplace, even our social, the books, the ready-to-drink cocktails, we're working on a new education platform -- all of those things, for the most part, we view as a true standalone business," he said. "So it can't just be a loss leader for us." -
On this week’s Modern Retail Rundown, the staff breaks down Bed Bath & Beyond's parent company Beyond Inc.'s decision to invest $40 million in The Container Store through a new partnership. Next, the team discusses ways in which shoppers plan to spend big this holiday season, even if it means going into debt. Finally, we take a look at Urban Outfitters's move to slash prices on more than 100 items ahead of the holidays.
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Celebrity-led brands have become one of the biggest trends. But it's not enough to simply have a big name associated with a company -- the person actually has to be involved.
That's what has helped Made By Gather be such a success. Made By Gather is the parent company of Beautiful, Drew Barrymore's homewares company. Now, Made By Gather is relaunching another brand, Bella, alongside Demi Lovato.
Made By Gather has been around since 2003, but only in the last decade has it begun really focusing on branding and high-profile partnerships. In 2010, "we got some really good advice that in order to really maximize the value of the business, you should think about launching your own brands and kind of control your own destiny," said founder and CEO Shae Hong.
Hong joined the Modern Retail Podcast and spoke about the necessary elements of brand building and why Made By Gather believes there needs to be what he calls a "human at the helm."
Before, Made By Gather made home products that sold in major stores like Target and Walmart, but there was no cohesive brand or story behind it. Beginning in 2011, the company realized it needed to have more elements than just good products.
Now, companies don't only require having a cohesive brand -- they also need someone leading the narrative. Part of Made By Gather's focus has been finding the right partners to do this.
After years of working in the home goods space and seeking out top-tier partnerships, Hong says he's figured out the formula for finding the best celebrity collaboration. "Really, it is trying to read whether somebody is genuinely interested in the category," he said. - Daha fazla göster
