As budget-conscious consumers seek to secure more bang for their buck, in many CPG categories, they’ll opt for a cheaper product or even a private label. But in beauty, shopping behaviors have been a bit different—and brands are taking note.

In the first half of 2024, US prestige beauty sales grew 8%, while mass sales flattened, according to Circana data. Larissa Jensen, global beauty industry advisor at Circana, told Retail Brew that premium-priced products within mass are also “growing at a much healthier rate,” while value-priced items have softened. Consumers are leaning into higher-priced items even in categories like hair care that mass has historically dominated, she said, as products with average prices of $30+ grew at three times the rate of lower-priced items.

At the same time, mass brands are making a premiumization push, with companies like L’Oréal, Unilever, and Not Your Mother’s seeing sales boosts after debuting elevated products at higher price points within skin care and hair care. Now, as consumer expectations and spending habits change and brands adjust, the gap between mass and prestige could be narrowing.

Keep reading here.—EC

Cohesive customer journeys are a must in today’s retail landscape. Customers expect an omnichannel experience whether they’re in-store, online, or both.

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The Biden administration is working on enforcing a new set of rules that will make it harder for Chinese-linked e-commerce retailers Shein and Temu to import goods to the US.

The White House on Friday said it’s using executive authority to take action against “increased abuse of the de minimis exemption, in particular China-founded e-commerce platforms, and strengthening efforts to target and block shipments that violate US laws.”

The de minimis trade provision permits shipments costing no more than $800 to enter the US duty-free and with minimal paperwork and verification.

The Biden administration is also proposing stringent rules on the entry of low-value shipments, including the addition of a 10-digit tariff classification number to “improve targeting of de minimis shipments and facilitate expedited clearance of lawful de minimis shipments.”

Keep reading here.—VC

For big CPGs, it was a summer of snacks M&A, as some of the biggest names in the food biz reshaped their portfolios by buying and selling notable names in snacking, from Go-Gurt to Cheez-It.

Dairy to be different: General Mills announced this week its plans to sell its yogurt business—including Yoplait, Go-Gurt, and Oui—to French dairy companies Lactalis and Sodiaal for $2.1 billion. Lactalis will buy the US business, while Sodiaal will acquire the Canadian business.

The deal, expected to close next year, also encompasses a number of manufacturing facilities in the US and Canada. The company’s yogurt business contributed $1.5 billion in net sales for General Mills in fiscal 2024. Chair and CEO Jeff Harmening noted in a statement that the divestiture is part of its “portfolio reshaping ambitions.”

Keep reading here.—EC

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