Morning Brew - ☕ Return with Pinterest

Pinterest’s VP of retail.
July 15, 2024

Retail Brew

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In today’s edition:

—Erin Cabrey, Alex Vuocolo

OPERATIONS

Pin in the game

Pinterest page shoppable Pinterest

Pinterest is not only a millennial-favorite tool to curate dream wedding or apartment aesthetics, but a place consumers—increasingly Gen Z consumers—are discovering brands and products, and eventually, making purchases.

Of the searches pinners make, 96% are not branded (rather than “Nike running shoes” they’re looking for “new shoes,” for example), indicating a “fertile open mind” that makes them welcoming of all content, including ads, how Pinterest makes it revenue, Carrie Sweeney, Pinterest’s VP of retail who works with its 300 retail clients, told Retail Brew. Therefore, Pinterest has been working to make all surfaces on the platform seamlessly shoppable, and Sweeney shared the platform’s strategy for working with retailers and bringing in new shoppers.

Keep reading here.—EC

   

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E-COMMERCE

Primed and ready

Prime Day display Nurphoto/Getty Images

Amazon’s annual Prime Day is set to generate $14 billion in online spending this week, according to data from Adobe Analytics. This would mark a 10.5% increase from last year and set a new record for the two-day sales event.

The research firm said steeper discounts will drive the increase in spending, with electronics seeing some of the biggest markdowns from listed prices: 22%, compared to 14% last year.

Right behind electronics is apparel, with discounts of 20%, compared to 12% last year, and home/furniture with discounts of 17%, compared to 9% last year. Discounts on televisions, meanwhile, are set to nearly triple from 5% last year to 14% this year.

Back-to-school shopping is also set to bolster online spending during the event.

Keep reading here.—AV

   

STORES

The week ahead

Prime Day Nurphoto/Getty Images

Fast food meets senior living this week, as Taco Bell starts handing out day passes on Tuesday to eligible rewards members to “The Cantinas,” an early retirement community that the chain will open in San Diego later this summer. The facility will offer “senior-inspired” low-impact sports, arts and crafts, weekend lodging—and, of course, Taco Bell food—to attendees of all ages.

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

In data: The US government’s monthly retail sales report for June is due out on Tuesday. The May results were weaker than expected, with sales rising just 0.1% month over month and 2.3% YoY. Yet at least one economist pointed out that lower gasoline sales were largely to blame, and that the overall picture was still encouraging.

Keep reading here.—AV

   

SWAPPING SKUS

Today’s top retail reads.

Grocery news, Part I: Stop & Shop announced it would close 32 unprofitable stores in the Northeast. (the Associated Press)

Grocery news, Part II: Kroger and Albertsons pinpointed 579 stores they’d sell if the Kroger-Albertsons merger goes through. (Fast Company)

Never ever ever getting back together: Macy’s ended discussions with the investor group seeking to take the company private. (Reuters)

Real Magnolia: Watch how Magnolia Bakery CEO Bobbie Lloyd expanded from a small storefront into a CPG behemoth. (Bossy with Tara and Katia via YouTube)

Marketing makeover: Join us at the Marketing Brew Summit in NY to hear e.l.f.'s Chief Brand Officer on retail marketing innovation.

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.

Shoppers at eight supermarkets in Alabama, Oklahoma, and Texas can purchase gun ammunition from vending machines that require them to scan their IDs.

You tell us: Do you think gun ammunition machines should be located at supermarkets? Cast your vote here.

Circling back: Last time, we told you that Target announced that it would stop accepting personal checks at its stores, so we asked how many personal checks you’d written in the last 12 months. More than 1 in 5 of you (22.8%) have not written any personal checks over the last year. Another 36% of you wrote just 1–5 checks, while 28.3% of you wrote more than 10, and 12.9% wrote from 6–10 checks.

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