Happy Thursday, everyone. Turns out that while Anheuser-Busch was embroiled in controversy over its partnership with transgender influencer Dylan Mulvaney earlier this year, Bill Gates purchased 1.7 million shares of the company. It’s not the first major brand Gates has invested in this year, leaving us to wonder when he’s going to slide some of that cash our way.
In today’s edition:
—Andrew Adam Newman, Erin Cabrey, Katie Hicks
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Herschel Supply Co.
In 1906, Lyndon Cormack’s great-grandparents emigrated from Scotland to Canada, eventually settling in rural Saskatchewan, where two generations of his family were born, including his father. Cormack, who grew up in Calgary, Alberta, remembers he and his brother, Jamie, piling into the family station wagon to visit his grandparents.
“All these hills and fields… [it was] just such a special place for us,” Lyndon Cormack told Retail Brew. “The curfews and the borders and the boundaries sort of got taken away.”
The town where his ancestors settled, which in 2021 had a population of just 30, is called Herschel. And when the brothers Cormack co-founded a backpack brand in 2009, they decided they’d call it Herschel, too.
Now, Herschel Supply Co. is opening a flagship store in the trendy SoHo shopping district in New York, and it pays homage to that Saskatchewan town.
We recently dropped by the store, where Cormack gave us a tour.
Grand plaster smash: We met Cormack at the Broadway entrance of the store, a vast 4,200-square-foot space that is the length of a city block and has a second entrance on Mercer Street, with its cobblestones and a more boutique SoHo vibe than bustling Broadway.
When Herschel began renovating the store, which is on the ground floor of a building built in 1903, “we stripped it all back to its original cube, how it would have been done when the building was first created,” Cormack said.
Keep reading here.—AAN
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Orveon Global
It’s been nearly two years since Orveon Global struck a deal with Shiseido Americas to acquire three of its prestige beauty brands—Laura Mercier, Buxom, and BareMinerals—and it’s gone far from the bare minimum to move these brands forward.
In August 2021, private equity group and Olaplex owner Advent International announced the creation of beauty collective Orveon Global—led by CEO Pascal Houdayer, a CPG vet who spent nearly two decades at Procter & Gamble—and its first acquisitions, worth $700 million.
- BareMinerals, which debuted in 1995, gained popularity with its powder complexion kits sold on QVC; Laura Mercier, founded in 1996, is known for its bestselling setting powder products; and 16-year-old Buxom’s plumping lip products are its top offering.
Houdayer told Retail Brew he soon began work on revamping the brands from their innovation pipelines to global footprints once the deal closed in December of that year, with the goal to be “sustainable face care experts.” Houdayer shared the moves Orveon Global has made to evolve these brands—especially in the era of the “skinification of makeup”—as well as what’s to come.
Keep reading here.—EC
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Screenshot via @lagunabeachtextileco/Instagram
You might not be familiar with Laguna Beach Textile Company, but you’ve probably seen one of its blankets recently.
In August, an Instagram story of Selena Gomez looking zen while wrapped in the brand’s Cabo Mexican blanket became a meme, creating an unexpected marketing opportunity as the image traveled across social media.
Lauren Franks, director of branding and partnerships at Laguna Beach Textile Company, told Marketing Brew that the brand sold blankets to a private member’s club in Malibu, where she said the photo was taken, but she could have “never imagined” those sales would lead to something like this.
Read the whole story here on Marketing Brew.—KH
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Tech Brew
70% of global industry executives believe AI will have the biggest impact on marketing and sales—but what will this impact be? Learn more about the implications for productivity and customer service. Read more here.
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Today’s top retail reads.
Improvise. Adapt. Overcome: Americans have been grappling with inflation for more than two years now. Here’s a peek at how people have made everyday adjustments in the face of higher prices. (USA Today)
Leveling up: Pangaia came onto the scene with innovative clothing designs and digital passports for products. Now it’s looking to break down the barriers to entry with its resale platform using the same technology. (Glossy)
Ball is life: We get it, pickleball annoys you, but it’s undeniable the game’s popularity is affecting retailers who are carving out more space for products and realizing that players are creating a lifestyle around the game. (the Washington Post)
Whatcha watchin’?: With Curiosity Stream, there’s always a documentary, series, or show to check out. And with new content dropping every week, there’s something for everyone. Stream for $4/month.*
New network: The Fed just launched a new instant payment network, and retailers have a lottt to say about what it means for them and their customers. Want the deets? Learn more.* *A message from our sponsor.
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The numbers you need to know.
There’s more than enough data and analysis on how consumer expectations regarding shopping experiences have evolved, but many retailers also have another set of customers: other businesses.
New survey data from BigCommerce reveals that B2B e-commerce trends are largely falling in line with consumer trends, particularly when it comes to wanting mobile-friendly websites, transparency, and a seamless checkout experience.
- Nearly three-quarters of respondents (74%) said they buy products using online platforms.
- A majority (65%) use search engines to find those products, and 42% specifically pointed to online marketplaces as discovery hubs.
“B2B merchants need to have a strong online presence and offer a seamless omnichannel shopping experience to keep buyers loyal and converting—or risk losing market share,” Lance Owide, general manager of B2B at BigCommerce, said in a statement.
When shopping online, the main obstacles for B2B buyers include incorrect pricing and shipping costs (40%), slow websites (29%), and bad customer support (28%).
- And just like with everyday consumers, B2B buyers will abandon their shopping carts for a number of reasons, including technical issues (31%), a lack of a secure checkout (23%), and shipping and delivery (17%).
BigCommerce suggests making the checkout process as simple as possible, potentially just leaving it to one page or allowing buyers to save their carts and return to them later.
“Buyers are bringing their expectations from the DTC space and expecting the same from B2B merchants,” the report reads. “If you’re not meeting your buyers’ most basic needs, chances are they can—and will—get a better experience elsewhere.”
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Written by
Andrew Adam Newman, Erin Cabrey, and Katie Hicks
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