Happy Thursday, folks. FYI, Best Buy, Target, and Walmart will be closed this Thanksgiving, continuing a trend from 2020. If you’re desperate to escape an awkward family dinner this year, just send your relatives our way—it’ll be worth it.
In today’s edition:
—Jeena Sharma, Katishi Maake
|
|
The North Face
Recreational outdoor clothing is getting a dose of sustainability with The North Face’s latest circular-design initiative.
The clothing, made with single-fiber construction and trim, comes in 20 styles and includes updated versions of the brand’s major collections, Osito and Auburn. These new products will be part of The North Face’s product portfolio instead of “a one-off collection,” the brand said in a statement, and will feature styles for adults, plus sizes, youth, and accessories.
The clothing marks The North Face’s first circularly designed products that minimize waste and comes two years after the brand launched its Renewed Design Residency in 2020, which trained its designers in circular design, a practice that keeps materials in use and circulation.
It also plans on relaunching its take-back program under the Renewed name, which will allow customers to return North Face clothes to the “new Renewed Take-Back bins.” They will then be washed, tuned-up, and resold through Renewed.
- The circular-design garments in particular, which are easier to disassemble, will then be recycled back into raw materials.
- “We didn’t want it to be like a one-off capsule of products. We wanted to really create standards that designers could lean into, and scale as we continue to grow our partnerships and grow capabilities around recycling,” Kellen Hennessy, The North Face’s circular design manager, told Retail Brew.
Trimming down: The company has been working with suppliers across the Western hemisphere, as well as Asia and Central America, to redevelop fabrics, which hasn’t necessarily been more expensive than using new fabrics.
Getting test-y: Hennessy explained testing the recyclability of the fabrics was critical to the process in terms of keeping the materials part of the textile supply chain.
Keep reading here.—JS
|
|
It’s that time of year—the leaves are changing, the weather is cooling down, and advertisers are focused on boosting sales while keeping costs in check. Let’s break out the cozy sweaters and break down some performance data.
Peep piles of performance data in Pacvue’s Q3 Benchmark Report. You’ll be able to compare the latest data from thousands of advertisers across every major product category in Q3 2022, including specific insights for Amazon, Walmart, and Instacart. CPC, CTR, ROAS—you name it, this report’s got it.
Here’s a taste of the insights: In Q3, Pacvue found that Amazon’s average CPC remained mostly stable. By comparison, Walmart’s CPC decreased by almost 27%, while ROAS increased by 44%.
Don’t prep your holiday ad strategy alone. Get the data you need here.
|
|
Klarna
Klarna earlier this year took a first major step in its evolution to be more than just a buy now, pay later company, and it’s following through on that commitment with even more new offerings.
The company yesterday introduced a search tool on its app and website that shows consumers new and pre-owned products that identifies products by color, size, features, ratings, availability, and shipping options.
- Users can now also see the price range to determine if it’s the right time to make a purchase.
- According to the company’s 2022 holiday report, 42% of shoppers surveyed said they plan to use price-comparison tools this year to make more informed purchases.
Additionally, the new search function is integrated into a panel on Klarna’s in-app browser that shows shoppers a lot more information when browsing a product page. For example, the panel can show if other retailers offer a better price point for a product, faster and cheaper delivery options, and scrub for any coupons at checkout.
Klarna’s Virtual Shopping feature that rolled out in May is available to brands such as e.l.f. Cosmetics, Keys Soulcare, and Haus Labs by Lady Gaga, the latter of which has seen a 3x higher click-through rate as a result.
- The platform allows creators to recommend “hundreds of thousands” of products to their social media followers and shoppers who use the Klarna app, according to the announcement of the new features.
- Plus, retailers on the platform can connect with a pool of 500,000 creators and keep track of their performance in real-time as a way to maximize sales and return on investment.
Keep reading here.—KM
|
|
Rev up your revenue. Wunderkind’s 2022 Market Outlook Report lays out actionable steps to prep you for Black Friday, Cyber Week, and beyond. Find out how you can bolster customer loyalty opportunities, use personalized messaging that converts, and stay relevant this season. Download the report here.
|
|
Today’s top retail reads.
We built this house: The warehouse boom is the modern-day industrial boom that’s reshaping the country and the workforce. Here are a number of stories that detail how we got to this point and what it means for the future. (Insider)
Not fast, not furious: Retailers are sitting on $732 billion of excess inventory, which means discounts are starting early, but it seems that consumers are not biting. (the Washington Post)
Bumping it up: Nestlé and Procter & Gamble continued to raise prices last quarter—which boosted profits—but according to them, it’s going to stay that way for the foreseeable future. (the New York Times)
Here comes the brewski: Eliqs, a DTC custom-labeled beverage company, is crafting cold ones for weddings, parties—basically, any milestone worthy of a personalized toast. Marketing Brew explored their innovative model here. Sponsored by Black Crow AI.*
*This is sponsored advertising content.
|
|
It's Throwback Thursday and we're taking prices allll the way back to our Early Bird Special for The SKU!
We're only five days out from the most action-packed retail event of the year and we want you to catch some early-bird prices before tickets run out. Just use code: Throwback at checkout and you’ll be on the way to The SKU for over $200 off!
The event's jam-packed agenda is hard to miss and will send you back with a broader professional network and strategies you can immediately implement. Spend your time and money wisely, and we'll see you in 5 days!
Register today
|
|
-
Westfield is opening a new mixed-use mall in Paris.
-
Ahold Delhaize’s Peapod Digital Labs will move its retail media business in-house.
-
Walmart says it’s still seeing strong demand and spending from new customers with higher incomes.
-
Amazon will start selling home insurance in the United Kingdom.
-
Progressive lawmakers are voicing opposition to the $25 billion Kroger-Albertsons merger.
|
|
The numbers you need to know.
Much of the retail landscape from 2020 through 2022 can be defined by digital, omnichannel transformation. Some retailers, however, are ahead of others, when it comes to three components: online, mobile, and in-store.
For example, 54% of retailers in 2022 offer buy online, pick up in store, up from 53% in 2021, according to Newstore’s 2023 Omnichannel Leadership Report, which assessed 300 leading luxury, premium, and lifestyle brands.
- On the other hand, 31% of brands’ store inventory is available online, down from 44% in 2021.
- And 33% of brands have a mobile app, which is slightly down from 34% last year.
“There’s no easier way for a brand to get closer to its customer than on mobile, where people spend a third of their daily waking hours,” the report read. “They also offer their customers the best and most robust mobile-app experiences overall with features that not only make buying in-app easy, but also enrich online shopping and in-store service.”
Inventory accuracy is vital to omnichannel retailing, particularly when it comes to customers being able to see cross-channel inventory, the report said.
- Newstore cited a McKinsey study that found omnichannel customers make purchases 70% more often and spend roughly 34% more than people who shop only one channel.
“Brands need to implement the systems that support true omnichannel retailing, or their buyers will spend those hard-earned dollars elsewhere,” the report said.
|
|
Catch up on the Retail Brew stories you may have missed.
|
|
|
Written by
Jeena Sharma and Katishi Maake
Was this email forwarded to you? Sign up
here.
WANT MORE BREW?
{if !contains(profile.lists,"Daily Business")}
Get the daily email that makes reading the news enjoyable →
{/if}
{if !contains(profile.lists,"EmTech Brew") || !contains(profile.lists,"HR Brew") || !contains(profile.lists,"Marketing Brew") || !contains(profile.lists,"Retail Brew") || !contains(profile.lists,"IT Brew") || !contains(profile.lists,"Future Social") || !contains(profile.lists,"CFO Brew")}
Industry news, with a sense of humor →
{if !contains(profile.lists,"CFO Brew")}
-
CFO Brew: your go-to source for global finance insights
{/if}
{if !contains(profile.lists,"EmTech Brew")}
-
Emerging Tech Brew: AI, crypto, space, autonomous vehicles, and more
{/if}
{if !contains(profile.lists,"Future Social")}
-
Future Social: the Brew's take on the world of social media
{/if}
{if !contains(profile.lists,"Healthcare Brew")}
-
Healthcare Brew: the comprehensive industry guide for administrators, medical professionals, and more
{/if}
{if !contains(profile.lists,"HR Brew")}
-
HR Brew: analysis of the employee-employer relationship
{/if}
{if !contains(profile.lists,"IT Brew")}
-
IT Brew: moving business forward; innovation analysis for the CTO, CIO & every IT pro in-between
{/if}
{if !contains(profile.lists,"Marketing Brew")}
-
Marketing Brew: the buzziest happenings in marketing and advertising
{/if}
{/if}
{if !contains(profile.lists,"Money Scoop") || !contains(profile.lists,"The Essentials") || !contains(profile.lists,"Money With Katie")}
Tips for smarter living →
{if !contains(profile.lists,"Incrypto")}
-
Incrypto: Finally, crypto news you can understand
{/if}
{if !contains(profile.lists,"Money Scoop")}
-
Money Scoop: your personal finance upgrade
{/if}
{if !contains(profile.lists,"Money With Katie")}
-
Money With Katie: manifest your financial freedom
{/if}
{if !contains(profile.lists,"The Essentials")}
-
Sidekick: lifestyle recs from every corner of the internet
{/if}
{/if}
Podcasts →
Business Casual,
Founder's Journal,
Imposters, and
The Money with Katie Show
YouTube
Accelerate Your Career with our Courses →
|
ADVERTISE
//
CAREERS
//
SHOP
//
FAQ
Update your email preferences or unsubscribe
here.
View our privacy policy
here.
Copyright ©
2022
Morning Brew. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011
|
|