Morning Brew - ☕ In the Pinterest of time

Pinterest’s holiday shopping gift guides.
November 14, 2024

Retail Brew

It’s Thursday, and if you haven’t started holiday shopping yet, you should probably get cracking. You’ve got about 40 shopping days until December 25.

In today’s edition:

—Vidhi Choudhary, Andrew Adam Newman

E-COMMERCE

Gift guide takeover

Pinterest holiday shopping Pinterest

Holiday gift guides curated by Alicia Keys and Paris Hilton, among several others, are about to take over your Pinterest feed.

The social platform, which has been trying to drive more shopping on its service, is hoping to make holiday shopping easier for its 537 million monthly active users. It will do so by offering them more than 1,000 curated gift guides, which carry 30–40 items each, curated by top creators and celebrities like RuPaul, Emma Chamberlain, and K-pop girl group TWICE.

Hilton even called Pinterest “a moodboard in your pocket.”

Martha Welsh, chief strategy officer at Pinterest, told Retail Brew that gift guides were a “natural extension” of everything Pinterest has been doing over the past two years to make the platform more shoppable.

At a high level, the idea is to enable customers to not only discover products they love, but to make it easier to save them into a single wish list and buy them through Pinterest, Welsh said.

“You can think of it as almost a shopping cart, you know, where you’re putting stuff in there, and then you can come back to it,” she said.

Keep reading here.—VC

   

From The Crew

Investing news, Brew style

The Crew

RETAIL

Bigger the better

The Shopify logo seen displayed on a smartphone next to a shopping cart. Sopa Images/Getty Images

Shopify’s strategy to attract bigger clients is paying off, quite literally.

The tech company that builds e-commerce stores added 16 enterprise clients for the most recent quarter, Shopify President Harley Finkelstein said, shortly after the company reported strong third-quarter financial results.

A rise in revenue from larger brands like Reebok and Off-White helped push Shopify’s Q3 revenue up 26% to $2.16 billion.

“Q3 was an exceptional quarter in terms of new enterprise-level brands coming to Shopify,” Finkelstein said.

Keep reading here.—VC

   

STORES

TGI slow days

A TGI Friday’s external sign. Peter Fleming/Getty Images

Partying like it’s 1999 with an order of loaded potato skins may get more challenging, now that TGI Friday’s, which makes the (contested) claim that it invented the delicacy, has filed for Chapter 11 bankruptcy protection on November 2.

The week before the filing, it closed 50 of its company-owned locations in the US, leaving 39 company-owned and 124 franchised-owned locations in the US, according to CNN.

It was far from the first sign that the chain, which opened its first restaurant in Manhattan in 1965, is not exactly overwhelming today’s diner. In January, TGI Friday’s closed 36 company-owned restaurants that its US president and COO Ray Risley called “underperforming.”

Keep reading here.—AV

   

Together With TikTok

TikTok

SWAPPING SKUS

Today’s top retail reads.

Taking on Temu: Amazon is offering up its own low-priced e-commerce channel called Haul, which follows Temu and Shein in offering cheaper products in exchange for longer delivery times. (Bloomberg)

Grubhub’s new owner: New York-based Wonder Group is acquiring Grubhub from European delivery giant Just Eat Takeaway.com for $650 million. (the Associated Press)

Declining luxury sales: The market for personal luxury goods is on track to see its first decline since the Great Recession. (CNBC)

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