Morning Brew - ☕ The deal of the art

The intersection of museums and retail.
January 16, 2024

Retail Brew

Bazaarvoice

It’s Tuesday, and the last day of the National Retail Federation’s Big Show. The annual conference brought thousands of reporters, experts, and retail executives to NYC. Now they are headed home in less than ideal weather conditions. We hope the swag bags were worth the trip.

In today’s edition:

—Andrew Adam Newman, Erin Cabrey, Katie Hicks

MARKETING

Big picture

Dr. Martens shoes and a bag that are part of a licensing deal with the Met. The Metropolitan Museum of Art/Dr. Martens

If you’ve pondered the intersection of museums and retail, chances are it was concerning museum stores. Much of the retail-related revenue that museums earn, however, is on products that are not sold in their stores. Through licensing deals, museums sell brands the rights to use imagery from their collections, or the logos of the museums themselves, and the licensed products tend to be sold by those retailers.

One institution that’s stepped up licensing efforts in recent years is The Metropolitan Museum of Art in New York. In 2022, for instance, Pacsun released its first collection under an ongoing licensing deal with the Met, with sweatshirts, T-shirts, and socks, featuring the work of artists including Van Gogh and Henri Fantin-Latour, as well as the Met’s logo.

Also in 2022, the Met completed a licensing deal—a “collab” in fashion-press parlance—with Dr. Martens, whose chunky-soled shoes and boots featured the work of Japanese artist Katsushika Hokusai.

Products licensed by the Met run the gamut in terms of both price and target demographics, from a $10 pair of socks by Pacsun for that brand’s typically Gen Z consumer, to a $144,200 table by furniture maker Abner Henry for luxury consumers.

What prompted the Met to step on the gas when it comes to licensing?

Keep reading here.—AAN

     

PRESENTED BY BAZAARVOICE

Set your sights on retail heights

Bazaarvoice

Looking to supercharge your e-comm operations this year? Mark your calendars for March 5–6 and attend Bazaarvoice Summit 2024.

Tune in to this free virtual conference to discover new ways to engage customers and grow your retail biz this year and beyond. Here’s a taste of what you’ll experience:

  • Learn: Want practical, useful insights? You got it. Hear from retail trailblazers on how to drive impactful change.
  • Connect: Rub elbows with like-minded professionals, forge new relationships, and swap marketing tips.
  • Inspire: Gain perspective and a new vision to bring back to your team.

Ready to elevate? Save your spot.

E-COMMERCE

Take your click

A grocery cart attached to a computer mouse. The_burtons/Getty Images

Online grocery sales in the US had a tough year in 2023, though pickup proved to be a bright spot, according to a report from Brick Meets Click and Mercatus.

E-commerce grocery brought in $95.8 million in sales, down 1.2% year over year, according to the report. The grocery segment’s performance in 2023 struggled as inflated food prices “chipped away at household purchasing power,” Brick Meets Click partner David Bishop said in a statement, echoing sentiments he shared with Retail Brew in August.

A 6% dip in monthly order frequency was the largest factor driving the sales decline. The 6% drop in 2023 followed a 4% decline in 2022. Monthly active users (MAUs) as a whole jumped 2%, though the number of MAUs who made just a single online grocery purchase per month rose to 34%.

Still, average order volumes saw a year-over-year boost across all three methods of grocery e-commerce—delivery (3%), pickup (2.6%), and ship-to-home (1.7%).

Keep reading here.—EC

     

FOOD & BEV

Pop whiz

Photo of Pop-Tart mascot at the Pop-Tart Bowl Icon Sportswire/Getty Images

On December 28, 2023, a sacrifice was performed on live TV.

The Strawberry Pop-Tarts mascot, who was introduced Eras Tour–style at the Pop-Tarts Bowl, worked the crowd (and the refs) before willfully giving up its life at the end of the game via giant-toaster submersion. The victors from Kansas State then feasted on its body and left it looking like Harvey Dent.

Even before the ritual sacrifice began, it was clear this was a marketing stunt gone right based purely on engagement and affinity. Feeds were full of religious references, marketing jokes, fan edits, and more. The stunt now has its own page on Know Your Meme.

“It was a really fun, adventurous, bold campaign,” Ryan McConnell, EVP at Kantar, told Marketing Brew. While at times the playfulness and risk-taking can get “squeezed out” in corporate sports sponsorships, he thinks Pop-Tarts could pave the way for that to change.

Keep reading here on Marketing Brew.—KH

     

A MESSAGE FROM IBM

IBM

You can’t spell retail without AI. The retail future is here, and your biz needs to adapt. Ready to unlock the power of AI? We teamed up with IBM to show you how GenAI can boost your biz to heights unrivaled. Give your biz a power up.

SWAPPING SKUS

Today’s top retail reads.

E-comm solution: FedEx is launching a new e-commerce platform for online merchants called “fdx” as competitors such as Amazon take market share from the shipping giant. (The Verge)

Shein vs. Uniqlo: Japan-based Uniqlo is the latest company to sue China-based Shein for alleged copyright infringement. (Bloomberg)

King of the Burger Kings: The company behind Burger King is reportedly buying out its largest franchisee for $1 billion after years of operating just 75 corporate-owned locations. (CNBC)

Need retail inspo: Supercharge your e-commerce engine at Bazaarvoice Summit 2024. From March 5–6, hear from retail trailblazers, collaborate with top-tier professionals, and gain insights to grow your biz. Register here.*

*A message from our sponsor.

JOBS

Are you an exec looking to make your next career move or join a board of directors? We’ve partnered with ExecThread, where you can find thousands of confidential job opportunities and board roles that aren’t listed anywhere else. Join ExecThread for free.

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