Many vegans didn’t grow up that way, so reports that fast-food chains are coming out with plant-based versions of what they ate in high school can fill them with a sizzling combo of nostalgia and anticipation. That’s why it was a big deal when McDonald’s, in partnership with Beyond Meat, first began to test a plant-based hamburger, the McPlant, in eight US locations last November. And it was an even bigger deal when, in February, it expanded that to ~600 locations in San Francisco and Dallas-Fort Worth.

But as some American vegans are finally reacquainting themselves with toasted sesame-seed buns, they may not realize that this actually is the second phase of McDonald’s testing a Beyond Meat burger in North America.

• In Canada, more than two years before the US rollout, McDonald’s began testing what it was then calling the PLT (plant-based meat, lettuce, and tomato) sandwich.
• The test began with 28 locations in Ontario in September 2019, growing to 52 locations in early 2020, before ending in April of that year.

Canada regularly gets the first look at—and bite of—products before they are introduced in the US. Those who’ve successfully piloted retail products in Canada note that the country is similar enough to the US to be an excellent barometer.

“Nearly 70% of Canadians live within 100 kilometers of the US border,” Jeff Greenspoon, CEO of Dentsu Canada, who’s worked on test-pilot retail programs in his homeland throughout his career, told us. “So the culture and the consumption habits really closely mirror the markets that they border on.”

​​Canadillac: Started in Detroit and named for the city’s founder, Antoine de la Mothe Cadillac, brands don’t get much more American than Cadillac. Elvis Presley drove a pink one. Marilyn Monroe’s was black. So was Ronald Reagan’s, a convertible.

But when Cadillac decided to try out a radically different retail approach in 2019, it headed to a country where the odometers are in kilometers.

Click here to read more.—AAN

Instacart delivered a new valuation last week, cutting it by nearly 40% to $24 billion.

• The company reached its former valuation ($39 billion) after a $265 million round in March 2021. It said it now has $1+ billion in cash and isn’t looking to raise funding.

Flat out: While e-commerce startups like Rent the Runway and even competitor DoorDash have had their valuations lowered through down rounds, a voluntary valuation slash is less common. Instacart CEO Fidji Simo told employees in a staff meeting last week that it’s meant to reflect how the company would be seen in the public market, and won’t impact its plans for an IPO, per the Wall Street Journal.

The company said the move would help bring in new talent with the promise of better stock options. However, Jackie Tubbs, intelligence analyst at CB Insights, noted the struggles the grocery-delivery space has been facing recently “might have more to do with it.” (Instacart said that isn’t the case, as it receives independent valuation assessments quarterly, and it hit an all-time revenue high last year.)

Often referred to as “pandemic darlings,” Instacart’s peers DoorDash and Uber have seen their stocks “take a tumble” as e-commerce sales have flattened, Tubbs said.

• Plus, she noted that funding is lagging: As Q1 ends, these players have so far raised $1.9 billion, compared to $4.6 billion during the same period last year, per CB Insights data.

“There’s a lot of noise and competition all around for a space that is meeting its full potential and has stayed stagnant in a way,” Tubbs said.

Click here to read more.—EC

On Wednesdays, we wear pink spotlight Retail Brew’s readers. Want to be featured in an upcoming edition? Click here to introduce yourself.

Nick Harbaugh is VP of the Americas at Flexecution, a firm that provides project management services for retailers like Ulta Beauty and Target. Harbaugh is a 25-year veteran of retail project management, even founding his own company, Retail Marketing Services, to offer construction management services to companies like Walmart, Samsung, and Home Depot. He left in 2016 and joined Flexecution. Here’s how that’s been going so far.

How would you describe Flexecution to someone who doesn’t work in retail? Flexecution helps retailers and brands look the way they want to the everyday consumer. This can range from installing every fixture in a new store to removing old fixtures and installing new fixtures during a remodel. Or it can be assisting an international brand by installing the same display or signage in stores across numerous countries.

What’s your favorite project you’ve worked on? We completed a nationwide rollout, installing holiday signage in nearly 600 Sam’s Club stores in just a few weeks.

One trend that you’re excited by: Self-checkouts are a hot item, especially considering Covid. We help the manufacturers and retailers by installing these systems (along with signage), which ultimately eliminates touchpoints.

Hands down, the best fast-food restaurant chain is...In-N-Out—Double-double, Animal Style.

Today’s top retail reads.

Watch and learn: Gen Z consumers’ standards and expectations have vastly changed from their older counterparts, and are changing how luxury brands approach selling watches. (The New York Times)

Tech talk: Walmart’s tech investments are giving workers more flexibility on the job and customers a more convenient shopping experience. (The Washington Post)

Shop around: Customer loyalty to brands is more tenuous than ever amid inflationary and supply-chain pressures plaguing the industry. (The Wall Street Journal)

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Catch up on the Retail Brew stories you may have missed.

• Montblanc on the power of the store
• Furniture resale company Kaiyo nabs funding
• How India’s MyGlamm found DTC success