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June 13, 2024

Retail Brew

T-Mobile for Business

Hello, it’s Thursday, and before you head over to Shein to snag a bunch of new items for your summer wardrobe for $5 a piece, be warned: The retailer has, in fact, hiked its prices. The increase is likely part of a strategy to boost revenues ahead of its IPO. But fear not; where there is a Shein, there’s also always a Temu.

In today’s edition:

—Jeena Sharma, Alex Vuocolo, Erin Cabrey

MARKETING

Tired and tested

WGSN/Future Consumer 2026 report WGSN

Consumers are exhausted. Not according to us, but the latest Future Consumer 2026 report from WGSN.

The findings follow a period of “great resignation” in 2022, followed by “quiet quitting” in 2023.

  • According to a 2022 WGSN survey, “65% of respondents said they felt burned out due to more demanding personal and professional lives, exacerbated by a polycrisis of rising living costs, financial uncertainty, geopolitical tensions, and eco-anxiety.”

And now, it seems the “great exhaustion” is upon us, which WGSN describes as a “collective feeling of fatigue, stress, and burnout.”

The latest report additionally pointed out that Gen Z and younger millennials are likely to be “disproportionately” impacted by the great exhaustion with 48% of respondents under 30 reporting feeling drained at work, according to a summary of the report. This in turn is leading consumers to want a simpler life and seek happiness in everyday “small wins” or “glimmers of joy,” according to the report.

Luckily, the trend forecasting and analytics firm has also done a deep dive into the consumer profiles and sentiments that will shape the next two years—so retailers, take note.

Keep reading here.—JS

   

PRESENTED BY T-MOBILE FOR BUSINESS

Retail’s adopting to modern trends

T-Mobile for Business

There’s no doubt that somebody slammed the reset button on retail. With tech innovations like AI/ML changing the game on personalized customer journey, successful retailers are learning how to adapt to an ever-evolving industry.

Great news: T-Mobile for Business can help. With the right solutions on their most awarded network, you can level up your shopper experience, streamline operations, and boost sales. Ready to soar to the top?

With T-Mobile for Business, seamlessly integrate physical and digital channels to:

  • Encourage big-time scaling of your business.
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  • Secure connected devices from cyberattacks.

Crush the new era of retail.

STORES

Click to drink

DoorDash Sopa Images/Getty Images

DoorDash is expanding its commitment to alcohol deliveries with a new lineup of retail partners, including select Giant, Food Lion, and Hannaford locations, as well as liquor store chains such as Spirits Unlimited and Stew Leonard’s Wines and Spirits.

The expansion is part of an ongoing initiative to become a leader in alcohol delivery, which can be controversial, depending on where you live. Fuad Hannon, VP of new verticals, said in a statement that the total number of liquor stores on the platform jumped 60% in 2023, and that today, “DoorDash is the US category share leader for third-party liquor store delivery sales.”

Keep reading here.—AV

   

OPERATIONS

Price going

Balloons deflating with stacks of money tied to the bottom of the strings Francis Scialabba

The Consumer Price Index (CPI) was flat in May following a 0.3% increase in April, the Bureau of Labor Statistics reported this week, marking the first time in almost two years the CPI was flat month over month.

Prices increased 3.3% year over year, down from the 3.4% annual bump in April. Both the monthly and annual rates were 0.1 percentage points below economists’ predictions.

Food inflation was up 0.1% in May after being flat in April, with food away from home up 0.4% and food at home unchanged. Among the major grocery store indexes, inflation for dairy was down 0.5%, thanks to a 1.3% drop in milk, while nonalcoholic beverages dipped 0.3% monthly. Fruit and vegetable prices were flat, while meats, poultry, fish, and eggs, along with cereals and bakery products, both rose 0.2% monthly.

Keep reading here.—EC

   

TOGETHER WITH IMPACT.COM

Impact.com

Conversions to the max. Wanna boost the numbers big-time? Then you gotta utilize the ultimate combo: influencers + affiliates. And impact.com can help you combine both into a full-blown engagement machine ready to take your brand to the next level. Start combining influencers and affiliates.

SWAPPING SKUS

Today’s top retail reads.

Highs and lows: How Abercrombie & Fitch evolved from a dying mall brand to a fan favorite. (CNBC)

Bean there, done that: Why Ghana, the second-largest cocoa producer in the world, is looking to delay a delivery of 350,000 tons of beans amid a supply crisis. (Reuters)

Now open: Inside the world’s biggest convenience store. (Axios)

Accelerate your omnichannel: If you want your business to climb the ranks of retail, you gotta crush the channel game. T-Mobile for Business can help you get there. See for yourself.*

*A message from our sponsor.

JOBS

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NUMBERS GAME

The numbers you need to know.

Rising prices are driving customers to look for deals, not just in their own countries, but pretty much anywhere in the world.

A recent study by commerce experience platform Nosto, which surveyed 2,000 consumers across the UK and US, found that 52% of shoppers had purchased at least one item online from a store based in a different country over the past 12 months.

  • Similarly, 70% of online shoppers were likely to buy fashion products from international brands, followed by sporting goods and hobbies (57%), and health and beauty (55%).
  • For 41% of respondents, lower prices were the top reason for choosing to venture beyond borders.
  • Meanwhile, 33% said a desire for unique or unusual items topped their list.

Overall, about 53% of respondents admitted rising prices at home spurred them to seek affordable items elsewhere.

For some, lower prices meant they’d venture beyond shopping at their favorite brands.

  • In fact, 29% of shoppers said they’d even purchase fake brand items abroad if they were cheaper.

Still, not everyone shopping overseas was necessarily just looking for a good deal.

  • About 23% of those surveyed said that their international purchases were influenced by social media, with 33% of Gen Z consumers citing social media as the main reason for shopping abroad.

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✢ A Note From T-Mobile for Business

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