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Sales of plant-based foods grew 6% year-over-year to $7.4 billion in 2021 -- and outpaced average food sales growth three times. In turn, vegan ice cream startups are expanding nationally through new retailer partnerships and direct-to-consumer shipping.
Ready-to-wear apparel brand Favorite Daughter is leading Centric Brands' push towards e-commerce. In 2020, the company launched digitally native, direct-to-consumer brand Favorite Daughter through a joint partnership with influencers Sara and Erin Foster. The brand was the company's first digital-only brand but has since ushered in a new digital focus -- including investments in buy online, ship to store, SMS marketing and cross porttfolio inventory management software -- for the portfolio as a whole.
The number of companies going public via SPAC hit a fever pitch last year, but a number of companies that went public via SPAC proceeded to underperform following their debut. Under newly proposed rules, the SEC hopes to address some common concerns such as inflated future outlooks and conflicts of interests.
Delivery workers are finding it more and more challenging to work shifts for platforms like UberEats and Grubhub. With gas prices at an all time high, many workers are either pleading for higher pay or holding off on driving altogether.
This month, The Smiley Company released 50 new smiley-branded products with 50 brands for its 50th anniversary. Smiley operates off a licensing model, taking a cut of sales of any products using the eponymous "Smiley" term or the black-and-yellow version of the emoticon.
More retailers and brands have been turning to experienced hires to lead their logistics operations after two years of supply chain snafus. Some brands, like Peloton, are hiring new chief supply chain officers as inventory challenges have accumulated. Meanwhile, some young startups are bringing on supply chain experts earlier than anticipated.
Sneaker sales grew rapidly last year -- up 20% in 2021 versus 2022, according to the NPD Group -- but continual supply chain issues have led to out-of-stocks. Now, these sneaker brands are beginning to adapt their supply chains to new needs -- spreading operations across more regions but and centering single-product-production in one spot.
Hiking boot sales were up 28% year-over-year to about $900 million in 2021, according to the NPD Group, and women's hiking boots grew more than double the rate of men's at 42%. In turn, hiking and outdoors brand Merrell is focusing marketing, product development and retailer partnerships on women in 2022.
As retailers continue to be challenged by inventory arriving months later than intended, off-pricers come at an opportune moment to take advantage of product liquidation. Experts said off-price retailers, who buy unsold or excess inventory, will likely have a larger selection of merchandise as shipping containers arrive late.
In the last week and a half alone, apparel brands Abercrombie, Express' UpWest and Revolve, as well as footwear brand Birdies all released new athletic collections. Analysts interviewed by Modern Retail explained that even as more formal styles recover, athleticwear and athleisure are becoming permanent fixtures in shoppers' closets. In turn, most apparel brands are all tasked with finding how they can integrate the category into their own identities and products.
Raw materials have become the hottest commodities since the pandemic began. Some of these components include plastic, paper and glass, which have all become harder to come by for retail brands. Here, we break down what’s in and what’s out in the commodities world.
To give a sense of the full scope of challenges companies have faced during the course of the coronavirus pandemic, Modern Retail created an illustrated guide to the supply chain crisis, and how brands and retailers have fared every step of the way.
As the consumer packaged goods category continues to get crowded with startup brands, legacy brands like V8 are trying to keep up. The brand, known for its tomato juice recipe that dates back to 1933, is modernizing by expanding its portfolio to include more relevant juice and beverage products.
The sneaker market may already appear saturated, but retail brands are betting on running shoes as the next growth frontier. The athletic footwear category, which saw major growth over the past two years, has new players like Lululemon and Allbirds competing against the likes of Nike.
On Tuesday, Walmart announced that new and existing Walmart+ members would receive a free six months of Spotify Premium for no extra charge. The new perk targets a weak spot for Amazon: According to data from Clarus Commerce, only 3% of Prime users enrolled in Prime for its music streaming benefits.
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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