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In January, Pacsun unveiled its own NFT series, dubbed Pac Mall Rats. Pacsun’s focus on NFTs is all part of its digital-first strategy, which includes its initiatives in AR and VR experiences as well as gaming.
As inflation concerns rise, alcohol conglomerates are betting on more expensive drinks to drive sales. The "Above Premium" portfolio at Coors with brands like Blue Moon and the "Above core" portfolio at AB InBev with brands like Corona or Stella both grew their share of total revenue in the quarter.
Outdoor gear and apparel brand The North Face is relaunching its resale program with new service partners, in hopes of expanding the types of resale products it services it offers.
At the Modern Retail DTC Summit, held last week in New Orleans, General Mills' global e-commerce lead of DTC Carter Jensen took to the stage to talk about how he approaches his role. That conversation was recorded for this week's Modern Retail Podcast.
Covid vaccinations at CVS have sharply dropped to over 8 million in the first quarter from 20 million shots last quarter. Similarly, the number of Covid tests it administered dropped to 6 million from 8 million in the fourth quarter. Moving forward, CVS’s growth could depend on its other healthcare initiatives to boost foot traffic.
Denim brand Levi Strauss and Co. is adding more digital tools to help customers find the right size jeans, as part of its mandate to grow direct-to-consumer sales. On Tuesday, the company announced two new digital fit features to its site: a predictive fit algorithm and a photo-bank of products on people of different body types.
The pandemic has cost businesses located in city and large town centers 35% of their potential takings since March 2020, according to a January report from Centre for Cities. As work from home life continues for many, retailers are seeing growth opportunities in opening stores where shoppers live.
While some consumers returned to malls in 2021, January indoor shopping mall foot traffic was down 12.2% compared to January 2020, according to Placer.Ai. In turn, many mall-centered brick and mortar brands like Victoria's Secret, Gap or Skechers are looking for incremental sales via wholesale and retailer partnerships.
At the 2022 Modern Retail DTC Summit New Orleans, Louisiana, retail executives came together to discuss about the biggest challenges digitally-native brands are facing today. This is a roundup of their frustrations and solutions when navigating marketing and growth obstacles.
Despite inflation, CPG conglomerates outperformed first-quarter estimates after hiking prices. Last week, food and beverage conglomerates Coca-Cola, Hershey's, PepsiCo and Mondelez all surpassed earnings estimates, with year-over-year, first-quarter revenues up between 7% and 16%. While executives have described inflationary pressures as a potential headwind on profits, price increases have largely insulated these conglomerates' bottom lines.
All of Columbia’s brands saw sales increase across the board, but Sorel topped them all with a 37% year-over-year growth. As other retailers like Lululemon bet on the footwear market for growth, Columbia appears to be benefiting again from already having an established brand on its roster.
Gas prices have soared to record highs in recent months, partly as a result of Russia’s war on Ukraine. Recently, retailers have seen this as an opportunity to drive sales and members to their loyalty programs by offering gas promotions.
Just less than a year ago, partnerships that would allow college athletes to profit off of their names, images and likenesses (NIL) weren’t possible for any brand. Now, Athletic Brewing had been one of the brands that jumped on the opportunity early on, allowing it to snag influencer-like deals with top college athletes to promote the brand and drive engagement.
Bokksu, which connects U.S. customers with Japanese snacks, is still bullish on subscription boxes, according to its founder and CEO Danny Taing. The company, which first launched in 2016, began by offering a subscription box that featured Japanese snacks that were never before available in the U.S.
Modern Retail analyzed how five product categories are participating in social commerce on four of the major social media platforms to find out which platforms have the most-robust social commerce options, which ones are lacking and how various product categories are using the platforms to drive sales. Modern Retail also studied the platforms’ user demographics to determine which have the most potential for future social-commerce growth.
Earlier this month, resale platform Rebelstork – which buys back and sells refurbished baby gear – launched in the U.S. The Canadian startup, founded in 2019, is positioning itself as a white-glove and sustainable shopping service for parents. As resale continues to become more popular, more companies like Rebelstork are trying to corner the secondhand market in niche product categories.
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