The Indicator | April 19th, 2024

By Sonal Gandhi
Chief Content Officer at The Lead

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QVC knows its audience – women over 50 – and is now targeting them with empowerment. Meanwhile Ikea is targeting the gamer segment with a new furniture line and LVMH along with a host of new brands are targeting newly minted golf fans. Additionally, Walmart-backed Ibotta raised $577.3 million in its IPO at a $2.7 billion valuation.

In other news, CPG brands looking to expand their DTC business now have help from GoPuff’s new platform. To learn how CPG brands are using DTC to understand their customers and use the knowledge to inform business decisions join us at The Lead Summit on July 10-11 in NYC. 

'INNOVATION MOVES'

  • The Spring 2024 US Consumer Footwear study per AlixPartners X Footwear Distributors and Retailers of America (FDRA) reports (1) athletic footwear is the only projected growth segment for 2024 spring/summer, and (2) consumers reported buying shoes more frequently in 2024 vs. prior years, at lower price-points. (Footwear News)
  • Asics released its Nimbus Marai running shoe which is designed to be remade at the end of the shoe’s life cycle. The shoes are part of the brand’s circular strategy to ensure a fully recyclable shoe, including its sole. The brand created its own bond for the shoe with an in-house glue that also allows the shoe to be pulled apart for its next usage. (Retail Dive)
  • A younger, more diverse demographic is embracing Golf – total active participation in both on- and off-course golf grew to about 45 million Americans with Asian, Black and Hispanic golfers representing 23% of the total, or more than 6 million. As a result, golf fashion is moving into the mainstream with a new line from Tiger Woods, LVMH’s latest collaboration with Tyler, the Creator and indie brands straddling the lines of golf and streetwear. (Retail Dive)
  • Ikea unveiled a new collection of colorful gaming furniture that inflates, folds, and transforms, in an attempt to make video game furniture that can also be used in non-gaming contexts. (Fast Company)
  • Gopuff launched Powered by Gopuff, a direct-to-consumer delivery service that enables brands on its platform to offer 15-minute delivery from their own online stores. Brand partners can direct shoppers to their own white-label online stores, where the customers can place an order for rapid delivery that Gopuff will fulfill. (Retail Brew)
  • Outlet stores and malls are the fastest-growing channel in the personal luxury goods market, with sales increasing 35% since 2021, according to Bain, as deal-seeking customers turn to off-price channels to help offset price increases. (Forbes)
  • In an effort to empower women over 50, QVC has launched a collective called ‘Quintessential 50’ featuring female celebrities, activists, business leaders and lifestyle experts including Christina Applegate, Patti LaBelle, Rita Wilson, Naomi Watts, Martha Stewart, and Queen Latifah. QVC will address a number of issues affecting women ages 50 and older, including physical changes, family care, beauty and skin care in its “The Age of Possibility” campaign. (Fashion United)

A MESSAGE FROM OUR PARTNER

Powered by the latest location analytics, Placer.ai analyzed over 3,000 shopping centers across the U.S. and dive into trends driving mall traffic and changes in consumer behavior. Discover how malls are using strategies such as experiential retail, entertainment, pop-ups, and luxury offerings to attract shoppers in 2024.

'Happenings'

'Financial Moves'

  • US retail sales grew 0.36% in March vs. Feb’24, per CNBC/ National Retail Federation (NRF) Retail Monitor.

  • 3AI-Powered virtual try-on technology platform Veesual raises $7.5 million.

  • Saks.com raised $60M in funding from Pathlight Capital and Bank of America and a new investment from STORY3 Capital Partners.

  • Trouva (Artificial intelligence – enabled marketplace) was acquired by Fy! (marketplace).

  • KIKI World (beauty consumer insights) raised $7M from Estée Lauder.

  • SWAT Equity Partners invested in Sunnie (gluten-free snacks brand).

  • Ibotta the Walmart-backed digital marketing platform IPO’d on the NYSE.

  • Beautycounter was reacquired by Gregg Renfrew from foreclosure.

 

Financial Moves Powered by MMG Advisors

'Career Moves'

 

Career Moves Powered by JBC 

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