This week, Stitch Fix launched a marketing campaign this week featuring tennis star Venus Williams. The company's goal is to get people to think of Stitch Fix as a go-to place to pick up a new pair of workout leggings or a dress for a party. But as Stitch Fix wants to be more things to more people, it remains to be seen how well the company can move beyond its core styling service.
Amazon is losing ground to social commerce apps in Asia. Singapore’s Shopee and India’s Meesho are two e-commerce platforms that leapfrogged it last year to become the first and third biggest global shopping apps. There may be some clues for why Amazon's overseas growth is flagging: Despite stiff competition, Amazon has yet to embrace social commerce.
After two years and a number of obstacles, connected fitness companies are at a turning point. This year, companies like Peloton, Mirror and Tonal are facing challenges as consumer demand subsides and people returning to gyms. More so, these companies are amid a number of legal battles over technology and design copyright.
According to Fabiola Torres, CMO and svp of PepsiCo's energy drinks category -- which includes big brands like Rockstar -- the energy drink renaissance is about finding who the core customer is. Her focus, she said on the Modern Retail Podcast is to "really go deep into storytelling, making sure that our products continue to get better and better."
Thrasio, an Amazon aggregator that has snapped up over 200 brands in just three years, is launching in India after acquiring a home appliances startup called Lifelong Online, which manufactures and sells over 100 products ranging from toasters to treadmills on its website and through marketplaces like Amazon and Walmart-owned Flipkart. Thrasio is looking to make a big splash in South Asia's biggest economy, home to 750,000 sellers.
This week, Nike and Lululemon were the latest retailers to enact shortened store hours at select locations, with Lululemon lowering its fourth quarter earnings and revenue expectations due to the Omicron variant. The two retailers join Starbucks, Macy's, Walmart, and Apple on the list of retailers temporarily closing locations or reducing hours due to staffing shortages and Covid-19 safety concerns.
After a sales lull in the first half of 2021, grocery revenues in the second half of the year rose. There were a few reasons why: inflation, a new coronavirus variant and retailers' investments in their most loyal customers.
Walgreens is posting growth in sales of beauty products after rethinking its approach to the category. The pharmacy chain recently reported a rise in beauty and personal care comp sales. Experts said the company is also trying to capitalize on the increased foot traffic generated by vaccines through broader digital investments in its app and loyalty program.
Boston-based Klaviyo, for example, was already profitable by 2015, but the pandemic turbocharged the company’s growth. Amid the explosion in online shopping last year, VCs gravitated toward specialist startups built atop e-commerce services, including Amazon aggregators and Shopify apps. With its latest funding round in May, Klaviyo was valued at $9.15 billion, cementing its position as a leading light within its cottage industry.
Most retail companies have been laser-focused on driving as many sales as possible from Black Friday through Christmas, and are taking January to cut back on marketing. But for startups that sell workout supplements or vitamins, one of their biggest sales months is just getting started.
Last week, both Target and Walmart released new home organization collections, betting on continued strength in the home category. Walmart is investing in the space via a partnership with the Netflix-backed home organizing duo, The Home Edit. Target, meanwhile, is launching a new private label, Brightroom, to meet its customers' home organization needs.
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