The retail industry is in flux, and the coronavirus has only complicated and accelerated an interlocking web of transformations set in motion over the past decade.
At most grocery stores, free samples are out the window. But one vegan frozen food company, Strong Roots, has been trying out a new program with a ghost food truck. Through this, Strong Roots can target regions where it's food is available in stores and then try and get customers to taste it via food delivery apps.
Earlier this week, the social video app announced a partnership with the commerce platform Teespring. While the details haven't been finalized, the two companies will be working together to create an integration that allows TikTok creators to sell their merchandise on the app. It's a small but important step for TikTok, as it tries to find ways to prove to brands that it's more than just a platform where teens share irreverent videos.
Interlace Ventures managing partner Joseph Sartre spoke on the most recent episode of our Modern Retail Talk series about what headless commerce is and why he thinks it's going to be the future for online merchants -- especially now. Modern Retail Talk is our video series where we discuss the latest retail news, as well as dive into issues experts in the space are facing.
Nike is cutting ties with some mid-sized wholesale partners. While the move isn't shocking, it brings to light the brand's overall intention to focus on DTC channels. With department stores on the decline, brands like Nike want to focus on getting customers to its own properties. The question remains whether other brands will follow suit.
As beauty deal hunting and deal activity has picked up in the world of Covid-19, it's also extended to an unlikely group of investors -- those previously centered on the food and beverage categories with little beauty-specific segment experience. "We identified the better-for-you food and beverage space as an emerging sector back in 2014 and now see huge potential in clean beauty and wellness brands," said Jordan Gaspar, managing partner and president of AF Ventures.
The business landscape was upended overnight when a virus wreaked havoc on the world. Now, digitally native brands are trying to figure out how to operate in this new landscape. In this report, Modern Retail details all the shifts that occurred over the last year.
Home gym supply brands have seen record demand since the coronavirus first swept the world. Now, even though a few months have passed, the situation has only intensified. Many products remain sold out and companies in high demand are still dealing with supply chain woes to try and get their fitness items into customers' hands.
On the latest episode of our Modern Retail Talk series, we spoke with Forrester's Sucharita Kodali about what she's observing in this brand new climate. The pandemic, she said, "set the retail industry back about five years." The good news, however, is that "there should be a fairly decent rebound."
Women’s lifestyle title Marie Claire is getting into the sampling business with the launch of Beauty Drawer. The first 5,000 members to sign up will receive samples of anti-aging cream from the launch partner, beauty brand StriVectin. With retail on lockdown "Working in skincare, samples are the number-one way to get people into a product."
Amazon saw huge profits in its most recent earnings report. This comes even after the company say three months earlier it would likely spend all of its current profits on coronavirus-related costs. Even so, the company saw record sales and continues to skyrocket. But tensions with third-party sellers still remain a pressure point.
A natural wine importer had vowed to draft an ethical contract to which all business partners will sign. Companies have long claimed to be ethical, but are now being asked more fervently to practice what they preach. A looming question underneath it all is how much of this talk about transparency and ethical business practices is used to shield from future scandals or as marketing jargon.
For this week’s Modern Retail Talk, Fly By Jing founder and CEO Jing Gao speaks about her trials and tribulations during the coronavirus. When quarantine in the U.S. first began, Gao said, “sales tripled overnight.” This was thanks to past work the company had been doing: "brand exposure, influencer seeding, paid ads." They all "paid dividends," she said.
A teenager's petition created a public outcry about Trader Joe's private label branding. The company, as a result, has renewed its pledge to discontinue its practices. While the grocer has said it would do this for years, now may be the time it's actually forced to change.
Stores aren’t dead, but they aren’t exactly alive either. As stores across the U.S. are currently in phased reopenings, many retailers are still in disputes or negotiations over rent payments during Covid-19 closures and are discussing ways to rethink payments for a future with dramatically lowered foot traffic. While some have been able to negotiate with landlords and receive discounts on rent, others are facing landlords playing hardball, who are citing their own mortgage payments.
The Amazon Strategies Virtual Forum is a series of presentations, workshops and talks taking place over two days that’ll help you navigate and survive our current crisis and the acceleration of e-commerce that has come with it.Register Now