Morning Brew - ☕ Long story skort

The Taylor Swift effect.
May 06, 2024

Retail Brew

Placer.ai

It’s Monday, and consumer demand for the peelable mango candy by Walgreens’s private-label brand Nice! is so great that the chain is limiting online sales to one bag per customer. The sweets cost $1.99 per bag, but it might not be long before that decimal point moves two digits to the right on eBay.

In today’s edition:

—Erin Cabrey, Natasha Piñon, Alex Vuocolo

DTC

Lavender haze

PopFlex pirouette skort, Taylor Swift, PopFlex Intagram PopFlex, @TaylorSwift/YouTube, @popflex_active/Instagram

Just over a fortnight ago, Taylor Swift released her latest album The Tortured Poets Department, chronicling the heartbreak of love lost and the pitfalls of fame—and with the introduction of her #ForaFortnightChallenge, she also fulfilled an activewear brand’s wildest dreams.

To promote the album released on April 19, Swift posted a YouTube Short showing clips from her life as a “fortnight recap,” which included a shot of her on a pickleball court wearing a lavender athletic skort. The video has amassed over 91 million views, and while the singer is shown wearing it for only a second, the Instagram account @TaylorSwiftStyled quickly identified it as the brand PopFlex’s Pirouette Skort in “digital lavender.”

The $60 skort has since enchanted consumers, seeing a 700% sales lift, according to Shopify, which powers the DTC brand’s site, selling out in every color and size in a matter of minutes. It’s been a surreal experience for PopFlex founder and CEO Cassey Ho, the pilates maven behind Blogilates who debuted the brand in 2016. “The coolest thing about the entire experience has been the community support and just genuine excitement for me, because I’ve been a Swiftie for so long,” Ho told Retail Brew.

But, as Ho noted, “virality is something you can’t really plan for,” and PopFlex has been hustling to respond both to the spike in popularity and the reignited fight against dupes that Ho knows all too well.

Keep reading here.—EC

   

PRESENTED BY PLACER.AI

Nice to meet ya, 2024 shoppers

Placer.ai

Who is the consumer of 2024? Are they ultra-picky? Are they leaning back toward brick-and-mortar shopping? Do they delight in the chime of tap-to-pay on credit card machines?

So. Many. Qs. Which is why Placer.ai leveraged historical and current foot-traffic data + trade area analysis to better understand the current retail landscape. They give you: Meeting 2024’s Consumer.

This white paper was made to give retailers (and curious readers) a look at the consumer trends likely to shape ’24 and beyond.

Which segments have benefitted the most from previous years’ shifts? What characterizes the modern consumer? And how are legacy brands fairing?

Find out in Placer.ai’s white paper.

OPERATIONS

Alpha scale

spending power of Gen Alpha Francis Scialabba

Remember 2010? Apple released the iPad, a baby-faced Mark Zuckerberg was Time’s Person of the Year, and Lady Gaga wore the meat dress. Oh, and a new generation of humans hard launched. Now, they’re starting to come of age.

By 2029, the spending power of Generation Alpha, the cohort of youngsters born between 2010 and 2024, is expected to reach $5.46 trillion, according to research-based advisory firm McCrindle.

Those numbers alone should be enough to make a CFO’s ears perk up. But if you need more convincing, consider this: “Every organization, every brand, every product is just one generation away from extinction,” Mark McCrindle, the social researcher credited with coining the term “Gen Alpha” and founder of McCrindle, told CFO Brew.

Keep reading here.—NP

   

STORES

Week links

A photo of the front of a Costco store Costco

In celebration of National Nurses Week, 28 brands are offering exclusive deals on everything from travel and sporting goods to apparel and beauty, furniture, and appliances. We’re sure all the nurses out there will hold off on shopping until they’re off the clock.

Here’s what else is going on in retail this week:

In data: Costco will release its April sales data on Wednesday. The numbers will be a first look at buying patterns for the month, coming ahead of the more comprehensive federal sales data coming out later in May. For context, the club store’s March data showed sales increased 6.4% year over year, while the Census Bureau report estimated that US sales grew 3.6% YoY in March.

In earnings: It’s a slightly less busy week for retail earnings, but an interesting assortment of companies is still on deck to report.

Keep reading here.—AV

   

TOGETHER WITH ZORO

Zoro

Protect your crew. This Construction Safety Week (yes, you read that right), turn to Zoro.com for the safety products your business needs. From PPE to safety signage to lockout tagout supplies, Zoro helps you put safety first—every single day. Take a look at Zoro’s vast array of equipment and supplies.

SWAPPING SKUS

Today’s top retail reads.

Meat me halfway: After closing some of its processing plants in an effort to control costs, Tyson Foods beat Q2 profit expectations. (Reuters)

Dave & hustler: Dave & Buster’s will enable guests to bet on arcade games through its app. (CBS News)

Snack attacked: How weight-loss drugs like Ozempic could hurt the bottom line for snack and restaurant brands. (The Daily Upside)

Consuming questions: Who is the 2024 consumer? Placer.ai gathered historical and current foot-traffic data and trade area analysis to find out. See who’s shopping and what this means for your biz.*

*A message from our sponsor.

HOT TOPIC

At the mall, it’s where band tees are the only tees. In Retail Brew, it’s where we invite readers to weigh in on a trending retail topic.

Children 8 years old and younger spend an average of 2.48 hours a week on e-commerce sites, either browsing or actually making purchases, according to a report from WebPurify.

You tell us: Do you think parents should permit children 8 and younger to shop on e-commerce sites? Cast your vote here.

Circling back: Last week, we told you the French government announced it would require supermarkets to display signage alongside products that had been subject to shrinkflation, the term for making products smaller without lowering their price. We asked if you thought US supermarkets should be required to display signage that warns consumers when products have been shrinkflated.

More than 8 out of 10 of you (82.3%) said yes, US supermarkets should be required to post signs warning shoppers when products have been shrinkflated, while just 17.7% did not think supermarkets should be required to do so.

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