Week of January 1, 2024
Accelerate Your Insights is a weekly news recap of the top trends in CPG focusing on retailer headlines, key shopper behaviors, and industry events.
Click the sources links below each headline to read more
Industry News
New Year Brings New Food Retail Laws
From crate-free fresh pork sales to higher minimum wages, changes coming to some states starting Jan. 1
Food Retailers ‘Pivotal’ In Virginia’s Economic Resilience
Despite ongoing challenges and a reduction in federal money coming into Virginia, there are positive economic indicators such as job growth and increased consumer spending
Cal-Maine to acquire Tyson plant for egg production
The company said it will convert the Missouri facility, which was shuttered by Tyson last year, to grade eggs.
Food and beverage makers to be ‘more careful and strategic’ with M&A in 2024
Inflation and higher interest rates are among the challenges expected to weigh on deal-making in the new year.
TikTok Shop hikes seller fees to grow its e-commerce business
The social media platform is also abandoning subsidies that help merchants offer deeply discounted items, per The Information.
Buy now, pay later boosts online holiday spending
US consumers spent $222 billion this holiday season, up 4.9% from last year.
Here’s what to expect to see in the beauty industry in 2024
From AI to M&A, beauty industry experts share their predictions for the new year.
Holiday returns are up 16.2% YoY, Loop reports
But retailers are embracing strategies to mitigate the cost.
FDA Warns Online Retailers to Stop Selling E-Cigarettes That Look Like Alcohol Bottles
Agency continues crackdown on unauthorized tobacco products
Will Oil Break From Its Price Inertia?
Pump price slippage, but upward price pressure building
Retailer News
Kowalski’s Is Tapping Into the Potential of Shopping Malls
Regional grocer planning to open 2 new stores in centers, as retailers and developers rethink mall concepts
Albertsons Kicks Off Launchpad Competition for Specialty, Natural Brands
Grocer’s 2nd annual pitch contest will take place March 12 at Natural Products Expo West
Wakefern to Hold Own Brands Snack Summit
CraveCon ’24 will source private label manufacturers for expansion of Bowl & Basket, Wholesome Pantry lines
UNFI’s 2024 Selling Events Will Better Support All Grocery Retail Customers
Grocery wholesaler releases show schedule and introduces new awards program
Minnesota lost 7% of its dairies in a year
The state reported a net loss of 58 permits in November alone as farmers across the country struggled with high input costs and low commodity values.
NRF’s Big Show, CES in Vegas, and Albertsons earnings
NRF’s annual Big Show will take place from Jan. 13–16 in NYC.
Walgreens Boots Alliance posts Q1 results
WBA’s first quarter sales increased 10% from the year-ago quarter to $36.7 billion, an increase of 8.7% on a constant currency basis.
Maverik’s Decision to Retire the Kum & Go Brand
Acquirer envisions multi-regional status, aims to compete in Midwest: analysis
2024’s Top expanders: Dollar stores, value apparel and automotive
Dollar stores, discounters, quick-serve restaurants and auto aftermarket services figure as the most aggressive expanding companies in 2024.
Amazon Ends Fresh Pickup
Amazon has closed the last of its two Fresh Pickup facilities, ending its experiment with a drive-in and drop-off grocery service
Shopper News
More Consumers Are Drinking Less Alcohol
Trends in healthier nonalcoholic beverages that help customers on the journey toward improved health
Specialty Grocers Remain Destinations Across Demographics
Progressive Grocer talks with Placer.ai exec about how shoppers of varying income levels are gravitating toward these retailers
Post-Pandemic Holiday Presents Opportunity For Independent Grocers
Humans are social animals. As a species, we crave interaction with others. And the absence of connection is so emotionally crippling, we use solitary confinement as a severe criminal punishment.
Nutritional quality and affordability drive ingredients trends for 2024: report
T. Hasegawa has dubbed 2024 “the year of the return to comfort.”