Morning Brew - ☕ Cannabiz

We visited Gotham, NYC’s latest licensed cannabis store.
May 12, 2023

Retail Brew

Listrak

Welcome to Friday. We’re almost halfway through the year—so, how are those New Year’s resolutions you penned back in January looking? Behind? Well, we’ve got you covered. If becoming a better leader was on your list, the Brew’s Leadership Accelerator can help jumpstart your journey. Apply now using code SPRING100 for $100 off tuition.

In today’s edition:

—Andrew Adam Newman, Jeena Sharma, Katishi Maake

CANNABIS

High concept

High concept Gotham/Christopher Coe

It’s a perfect spring morning in New York, one of those rarest of days when, against all odds, this rat buffet of a city smells good, like lilacs and azaleas and whatever else is blooming in community gardens, parks, and window boxes.

But it’s another type of flower—cannabis—that’s the draw on East 3rd Street in the East Village, just steps away from the Bowery. We’ve come for a preview tour of Gotham, which opened its doors a few days later, on May 11, making it one of five licensed cannabis stores open in the city.

We’ve been checking in with Gotham for months after we started this series with a look at the hurdles it would face as a cannabis business:

  • Under a federal drug law, 280E, cannabis businesses pay tax rates “that can eclipse 70%,” Politico reported.
  • Gotham and other licensed stores in the US generally don’t accept credit cards, because credit-card companies won’t permit cannabis sales, leaving customers to pay with cash or debit cards.
  • Cannabis retailers also face challenges such as banking, point-of-sale systems, and in New York, more than 1,400 stores operating without a license.

Pot-ery barn: Step into the vast 2,800-square-foot store, which was designed by Cinema Vitae and features unfinished concrete floors and dramatic lighting fixtures, and shoppers might be surprised to not immediately see the most newsworthy item: cannabis.

Keep reading here.—AAN

     

TOGETHER WITH LISTRAK

Consolidation comin’ in clutch

Listrak

Retailers and brands are facing some pretty sizable challenges these days. The trick to staying on top and crushing all your channels? Two words: unified platform. Siloed solutions cost time and $$$—one consolidated, integrated platform is *chef’s kiss* perfect.

That’s where Listrak comes in. As a leading customer engagement platform trusted by brands like TOMS and Sol de Janeiro, they can help you drive engagement and reduce spend by orchestrating marketing across all channels: email, SMS, push notifications, and identity resolution.

Listrak’s new Forrester Consulting Total Economic Impact™ study revealed how beneficial their tools can be to a biz. Interviewed clients saw:

  • a 45% increase in email-driven revenue
  • a 40% increase in SMS-driven revenue
  • 20% time savings for the campaign team
  • 35% reduced marketing-tool spend

Wanna start acing the marketing game? Read the study.

RETAIL

Grand exit

David’s Bridal Fifteen roses line David’s Bridal

Spring weddings are in full swing, but unfortunately for David’s Bridal, things might be shutting down. If you’ve been keeping up with retail news lately (or glanced at our SKUs section) over the past few weeks, you probably know the wedding dress retailer known for its affordable prices and wide range of choices, has filed for Chapter 11 bankruptcy…again.

You read that right: the second time since 2018. The retailer will also lay off 9,326 employees over four months, but will continue to honor outstanding orders while its stores remain open. Meanwhile, it will continue to explore sale options for all or some of its assets.

Since emerging from bankruptcy and restructuring its debt in 2019, David’s Bridal has focused on modernizing its business, which includes its marketing and retail strategies. It has also gone beyond serving its quintessential wedding customer by introducing lines for life events such as quinceañeras and proms.

“For us, it’s really giving that customer who is middle America that value,” David’s Bridal CMO Nancy Viall previously told Retail Brew about the quinceañera label. “We are vertically integrated, and we’re able to extend innovation and style and really have inclusiveness so that it’s not representing anyone’s line that you can get at all these different boutiques.”

Experience this: And while that seemed to have resonated with some consumers, its core wedding business likely suffered after the pandemic forced the retailer to shutter stores.

Keep reading here.—JS

     

E-COMM

Wedding bells

Wedding Francis Scialabba

Etsy’s finally tying the knot.

The e-commerce platform has introduced a wedding registry that allows couples to register for personalized handmade and vintage items.

In the last three months, the company has seen an 872% YoY increase in searches for handmade gifts, it said in a statement, claiming couples are shying away from traditional wedding presents. Additionally, Etsy says its registry makes sense, as discretionary spending plummets amid rising inflation.

  • In addition to gifts, Etsy has seen a bump in searches for floral wedding dresses (+78%), 3D flower veils (+35%), 3D flower dresses (+32%), and vintage wedding bands (+25%).
  • Meanwhile, the company has seen a 71% drop in searches for solitaire engagement rings and a 48% decrease in diamond engagement rings.

Something new: The move comes as thousands of couples have dropped Bed Bath & Beyond from their registries, while wedding registry platform Zola is looking to pounce and grab some of BB&B’s customers. Given the vacuum, Etsy stands to pick up some customers of its own.

Keep reading here.—KM

     

TOGETHER WITH KENCO LOGISTICS

Kenco Logistics

Set your e-commerce game to easy mode. Inflation. Labor shortages. The ever-increasing demand for efficiency. Sound like familiar hurdles? Fortunately, Kenco has the goods on how automation tools can help. Check out their new white paper to start utilizing the latest trends in automation to drive never-ending improvement. Give it a read.

SWAPPING SKUS

Today’s top retail reads.

Shining brighter: Despite competition from LVMH-owned Tiffany, Cartier sales continue to be robust, as the luxury jewelry brand remains popular in China. (the Wall Street Journal)

Taking notice: As Indian beauty brands rooted in ayurvedic practices grow in popularity among local consumers, global brands like L’Oréal and Puig are eyeing India as a beauty hotspot. (Vogue Business)

Safety: Malls and stores have increasingly become the scene of mass shootings. (Retail Dive)

WHAT ELSE IS BREWING

  • Adidas will sell some of its unsold Yeezy stock instead of burning it.
  • JD.com’s CEO will leave his post after just a year as growth slows.
  • Peloton recalled 2.2 million bikes over faulty seat posts.
  • Tapestry raised its annual forecast due to a rebound in China and strong demand for Coach handbags.
  • Maison Margiela CEO Gianfranco Gianangeli will step down from his position, as the Parisian luxury brand looks for a successor.

FRIEND OR FAUX?

Three of the stories below are real...and one is most definitely not. Can you spot the fake?

  1. Starbucks will charge customers extra for Refreshers ordered with “no water.”
  2. Coke will debut a seafood soda this summer called Coca-Cola Sea.
  3. The Italian government held a “crisis meeting” over rising pasta prices.
  4. A Flamin’ Hot Cheetos movie is coming to theaters.

Keep reading for the answer.

ICYMI

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

SHARE THE BREW

Share Retail Brew with your coworkers, acquire free Brew swag, and then make new friends as a result of your fresh Brew swag.

We’re saying we’ll give you free stuff and more friends if you share a link. One link.

Your referral count: 2

Click to Share

Or copy & paste your referral link to others:
morningbrew.com/retail/r/?kid=303a04a9

FRIEND OR FAUX? ANSWER

While we admit that name sounds amazing (you’re welcome, Coca-Cola), we don’t think anyone asked for a fish-flavored Coke.

         

Written by Andrew Adam Newman, Jeena Sharma, and Katishi Maake

Was this email forwarded to you? Sign up here.

Take The Brew to work

Get smarter in just 5 minutes

Business education without the BS

Interested in podcasts?

  • Check out ours here
ADVERTISE // CAREERS // SHOP 10% OFF // FAQ

Update your email preferences or unsubscribe here.
View our privacy policy here.

Copyright © 2023 Morning Brew. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011

Key phrases

Older messages

☕ Just browsing

Friday, May 12, 2023

Google eschews 'move fast and break things' for 'slow and steady' May 12, 2023 Emerging Tech Brew The weekend is imminent. Today we've got nuggets from Google's I/O conference,

☕ Satisfaction

Friday, May 12, 2023

Wait a sec...workers are happy at their jobs? May 12, 2023 View Online | Sign Up | Shop 10% Off Morning Brew SPONSORED BY Apple Arcade Good morning. Looks like Twitter is finally getting a new CEO.

☕ Tucker is back

Friday, May 12, 2023

Companies are getting a huge boost from mentioning AI... May 10, 2023 View Online | Sign Up | Shop 10% Off Morning Brew TOGETHER WITH Ooni Good morning. The Los Angeles Lakers, up 3–1 against the

☕ Smartwatch secrets

Friday, May 12, 2023

Apple trade secrets case showcases Silicon Valley talent wars May 10, 2023 Emerging Tech Brew SPONSORED BY Secureframe It's Wednesday. Prefer to stick to tech and avoid those tough talks you've

☕ Learning experience

Friday, May 12, 2023

Wayfair's quest for real-time CX analysis. May 10, 2023 Retail Brew TOGETHER WITH Listrak Hello, hello. Today's business advice is brought to you by some words of wisdom found on Dolly

You Might Also Like

☕ Deputized

Monday, April 29, 2024

Are AI agents the next big thing? April 29, 2024 Tech Brew PRESENTED BY EnergyX It's Monday. Everyone in the AI world is abuzz about agents, which are more than just mere chatbots—they're

The Great Unknown About Conflicts Of Interest In Arizona’s Abortion Ban

Monday, April 29, 2024

As state supreme courts consolidate power and corporate money, shoddy oversight allows justices to hide their financial conflicts of interest from the public. A powerful anti-abortion group wined and

Campus Arrests, Deadly Storms, and the Year's Best Space Photos

Monday, April 29, 2024

Facts, without motives. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

When AI hallucinates poison

Monday, April 29, 2024

Plus: Have we reached peak emission? Examining food delivery app fees. And more. April 29, 2024 View in browser Welcome back! If you've recently tried to buy a book online and thrown up your hands

Why millions of Americans may lose internet access tomorrow

Monday, April 29, 2024

In 2024, reliable access to high-speed internet is no longer a luxury; it is a basic necessity. From job applications to managing personal finances and completing school work, internet access is an

Numlock News: April 29, 2024 • Manga, Challengers, Mauritius

Monday, April 29, 2024

By Walt Hickey Three's A Crowd Challengers, the Zendaya-starring Luca Guadagnino movie about three people who play literal and metaphorical tennis, made $15 million this past weekend, the second-

☕ Snoafers

Monday, April 29, 2024

A chips boom is coming to the US... April 29, 2024 View Online | Sign Up | Shop Morning Brew PRESENTED BY Timeline Nutrition Good morning. Alabama safety Jaylen Key was selected by the New York Jets as

UK's Investigatory Powers Bill to become law despite tech world opposition [Mon Apr 29 2024]

Monday, April 29, 2024

Hi The Register Subscriber | Log in The Register {* Daily Headlines *} 29 April 2024 secret agent eavesdrops using headphones plugged into an audio centre mounted with tape reels (illustration)

'Stop apologizing and do something, Portugal'

Monday, April 29, 2024

what happened last week in Asia, Africa and the Americas Hey, this is Sham, your very own news curator. I have a quick survey prepared, so you can tell me in my face what you like and don't like

QAnon Was Born Out of the Sex Ad Moral Panic That Took Down Backpage.com

Sunday, April 28, 2024

For years, the political establishment opportunistically railed against sex trafficking. Then came Pizzagate. Most Read QAnon Was Born Out of the Sex Ad Moral Panic That Took Down Backpage.com Trevor