Happy Friday. Inflation may be driving up costs, but it seems like avocado prices have reached a five-year low. Just thought you should know, in case, you know, you’re still laying off the avocado toast to save up for a house. You’re welcome!
In today’s edition:
—Andrew Adam Newman, Maeve Allsup
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Roman Milert / Eyeem/Getty Images
There are devices in the retail world we take for granted. Let’s stop doing that.
Shopping cart
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Patented: 1939
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First patent holder: Sylvan Goldman
Basket case: In the beginning, there were baskets. The first self-service grocery store, Piggly Wiggly, opened in Memphis in 1916. It was a radical departure for shoppers, who, until then, had handed grocery lists to clerks, who’d gather the items from behind the counter. But at Piggly Wiggly, shoppers were transformed into Little Red Riding Hoods, walking the aisles with wooden baskets in the crooks of their arms.
Piggly Wiggly became a chain, and two decades later, Sylvan Goldman owned a few in Oklahoma City. In the 1930s, home refrigerators began to gain popularity, with only 8% of homes having one at the beginning of the decade and 44% by the end, which enabled consumers to buy more groceries without fear of spoilage. But Goldman began to notice that when a basket was full, shoppers beelined it for the cash registers, even if they might have had more on their lists.
“If there were some way we could give that customer two baskets to shop with and still have one hand free to shop, we could do considerably more business.” Goldman later recalled (as the New York Times reported).
Into the fold: Inspiration came, in 1936, from a folding chair. Goldman figured one basket could go about where the seat was, another below, and that wheels could be added.
When the carts were first introduced in stores, shoppers were underwhelmed. Goldman told CBS in 1977 that he went into one store the next day, and “not a one was using a cart.” They only began to catch on, Goldman said, after he’d hired women of all ages to walk around his stores using them.
Keep reading here.—AAN
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Maybe it’s the stress from one too many awkward family dinners. Or a wild and uncertain economy. Whatever it is, your biz is going to need some extra help wrapping your head around consumer behavior this holiday season.
That’s where impact.com can help. They wanted to predict shopper behavior during Black Friday and Cyber Monday—so they conducted a consumer research study to get insight.
And they compiled all that data into a super-digestible infographic so you don’t have to pore over the stats. You’ll find tons of golden nuggets about shoppers and the holidays, including:
- key consumer behavior trends
- economic factors that influence shopping behavior
- how best to reach your target consumers
Step inside the minds of holiday shoppers here.
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Francis Scialabba
Come Black Friday, Amazon’s legions of loyal shoppers will be able to pay for their holiday gifting purchases via Venmo. And experts say the addition of this latest payment method may attract younger consumers to the ranks of two-day shipping disciples.
The October 25 announcement is an indicator of the retail industry’s payments trajectory, Elissa Quinby, senior director of retail marketing at digital analytics firm Quantum Metric, told Retail Brew.
“Consumers are definitely dictating how they’re utilizing their money, and [Venmo] is the first piece,” she said. And now that Venmo will be an option on Amazon’s platform and app, Quinby, a former product manager at Amazon, said consumers will soon expect it from other retailers.
- Venmo owner PayPal reports that commerce payments via Venmo grew by more than 250% in Q2 of 2022.
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The company’s 2020 Behavior Study found Venmo users skew younger and more affluent than the general US population.
Broader reach: Eddy Ouwendijk, managing partner at consulting firm Payments Advisory Group, said the demographics of Venmo users may help Amazon tap into the “social spending” trend among younger shoppers.
Ouwendijk pointed to Venmo’s 2020 survey results indicating an increase in digital spending. “Of course, we must consider that this was also stimulated by the pandemic,” he told Retail Brew via email. “Nevertheless, this is a trend we also see in Asia,” he added, nodding to WeChat pay.
Quinby said brands who want to get ahead of the Venmo payments trend need to think carefully about how to build awareness around their payment options.
- “Utilizing merchandising and more advertising to make sure consumers are aware of what their different payment options may be, and if those meet their needs, is going to be an important piece that retailers are going to need to consider,” Quinby said.
Keep reading here.—MA
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Luis Alvarez/Getty Images
In Wednesday’s newsletter, Katishi Maake kicked off our November monthly theme, a topic we’re calling “discount deluge,” which is particularly relevant heading into what promises to be another busy holiday season.
But before we get too far into that salient subject matter, we thought it worth taking a quick look back at the month that just was. Throughout October, we were laser-focused on delivery, a segment undergoing significant change.
Working it out: Retail Brew’s Maeve Allsup looked at how a federal rule defining worker status could change the world of deliveries.
En route: “Much like stand-up comedy, e-commerce is all about nailing the delivery. That’s why retailers have execs whose job it is to make the shipment process as quick, easy, and cheap as possible,” writes our own Erin Cabrey.
Cracking a mile: How has last-mile delivery evolved and where is it heading? Katishi Maake took a deep dive into the puzzle that is the last mile.
EV rider: Andrew Adam Newman tagged along with DHL driver Tony Grimila to find out if EVs deliver.
At your convenience: And finally, Erin Cabrey checked in with two convenience stores to learn how they’re optimizing their delivery.
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One click away from capturing Gen Z. These days, everybody’s talkin’ about Zoomers. Their music, their fashion, their values. But how can e-commerce capture this new audience? One word: speed. Bolt’s lightning-fast checkout tools are here to fulfill Gen Z’s boom for zoom. Read more about Bolt’s next-level online shopping tools here.
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Today’s top retail reads.
Left out: Over in Britain, consumers are picking sides as Mars Wrigley plans on testing its holiday-season collection of chocolates without the Bounty bar. (the New York Times)
A fragrant proposition: A new range of candle brands that took off during the pandemic are making the case for candles as luxury collectibles. (Vogue Business)
Thank you, next: While for a long time, Away occupied the “it” status among luxury suitcases, consumers are increasingly seeking other brands with new functionalities and styles. (Thingtesting)
Check it out: Money with Katie is obsessed with personal finance. Her free weekly newsletter takes a spicy approach to budgeting, investing, tax strategies, and more. Subscribe here.
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Hey retail readers, have you heard?
Marketing Brew is hosting a full-day affair of industry exploration and navigation on Nov. 15 in NYC. Complete with brand leaders and industry connections, The Brief: A Summit Presented by Marketing Brew is an event that cannot be missed.
Incredible speakers from HBO, REI, Vans, and more will take to the stage to tackle the dizzying industry topics we love so dearly. Get 15% off your tickets using code RetailMarketers at checkout!
Register today
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Starbucks’s quarterly sales in the US came in strong, as consumers continued to purchase expensive drinks.
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DoorDash’s Q3 earnings also fared above expectations as the total number of orders delivered rose.
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Lyft and Stripe are joining other tech companies in announcing mass layoffs, while Amazon will freeze corporate hiring.
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Kering is reportedly in “advanced” stage discussions to acquire Tom Ford, per the Wall Street Journal.
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Three of the stories below are real...and one is most definitely not. Can you spot the fake?
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Bud Light has released a life-sized Christmas tree filled with its signature beer for the holidays.
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Tropicana introduced a limited-edition mimosa maker that comes with an orange-juice spray bottle.
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Juicy Couture has teamed with Kraft Real Mayo for a collection that features a mayo couture tube top.
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Jet Puffed is selling a queen-sized Marshmallow Pillow inspired by the brand’s marshmallows.
Keep reading for the answer.
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Catch up on the Retail Brew stories you may have missed.
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We understand being in the holiday spirit, but come now, who would really want a Christmas tree filled with beer?
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Written by
Andrew Adam Newman and Maeve Allsup
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