STORES

Specialty Food Association

If lines down the block, sold-out products, and viral moments are any indication, premium grocery is having a moment in New York City.

Century-old Upper East Side staple Butterfield Market has recently been adopted as an influencer favorite, and this year took over FYPs with its viral Dotcakes, with lines starting at 6am to nab the sprinkle-topped cake in a cup. Lines also stretched through Tribeca last fall, when Meadow Lane first opened its doors, with consumers eager to taste test its viral prepared foods. Seafood specialist Citarella, another 100-year-old NYC institution, expanded to the Hamptons this spring, while West Village cheese purveyor Murray’s Cheese has continued to grow its business, especially around the holidays.

At the Summer Fancy Foods Show in New York City last month, Retail Brew moderated a panel with these four retailers to discuss how they’re navigating—and leaning into—the city’s luxury grocery renaissance. Here are some notable thoughts they had to share.

Keep reading here.—EC

      

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CONSUMER BEHAVIOR & TRENDS

Illustration: Amelia Kinsinger, Photos: Adobe Stock

Consumers may value convenience, but they’re increasingly unwilling to pay extra for it.

According to ICSC’s latest Cost of Convenience survey, 90% of consumers said they’d accept slower shipping if it meant paying less, while 61% prioritized lower costs over convenience when shopping online.

Shipping costs have become a growing pain point for consumers. In fact, 70% of respondents said they’d abandoned an online purchase because of shipping costs, while 67% said return fees made them less likely to shop online.

Among the 1,000 US respondents, 57% said the biggest advantage of shopping in-store was avoiding shipping fees and delivery wait times.

Nearly two-thirds (65%) also said shipping costs, slow delivery, or inconvenient returns had caused them to stop shopping with a retailer, or at least consider doing so.

Keep reading here.—JS

      

OPERATIONS

Illustration: Morning Brew Inc., Photos: Adobe Stock

Pricing decisions can come from many places in an organization—the CEO, CFO—or they can even be influenced by product professionals. In the hands of the CRO, pricing can be used, predictably, as a revenue generator—at least that’s what happened at The Magnum Ice Cream Company.

The brand uses pricing to drive revenue in a way that (hopefully) lasts. Assisted by performance marketing company Ibotta, the brand, which houses Good Humor, Ben & Jerry’s, Magnum, Klondike, Talenti, and Breyers, said that it saw a 104% increase in incremental sales compared to last year’s promotional campaign.

Keep reading here on Revenue Brew.—BC

      

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Today’s top retail reads.

Thin margins: The GLP-1 craze has been a boon for clothing brands, as consumers buy new wardrobes. (The Guardian)

Monopoly money: The complicated process of making a version of the Monopoly game in the US. (NPR)

Doh unto others: Why Play-Doh launched its first product for adults, Blooms by Play-Doh. (USA Today)

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Quiz

Amelia Kinsinger

The biggest Retail Brew stories, now in quiz form. Test yourself on the latest headlines in e-commerce, shopping trends, retail marketing, and more in a quick, competitive challenge built for retail pros. Challenge your coworkers and see how your score stacks up!