Week of November 13, 2023
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
Growth in foodservice and in-store bakery isn’t slowing
It’s all about convenience, health, and hybrid dining, according to two new reports from FMI
Import cargo volume winding down as holidays approach
With most imported holiday season merchandise already here, inbound cargo volume at the nation’s major container ports is expected to slow during the remainder of 2023.
Frozen dinners & entrees cool down
The multi-serve segment is holding its own, but single-serves are struggling as consumers look for ways to cut costs.
Snickers maker Mars to buy UK chocolatier for $665M
The purchase of Hotel Chocolat expands the confectionery giant’s presence in the region and increases its exposure to premium offerings.
Camel milk grows in popularity as functional ingredients surge in demand
While plant-based options have taken over the dairy aisle in recent years, camel milk may be getting attention from more consumers.
Thanksgiving meal costs down from 2022, but still 25% higher than pre-pandemic
The American Farm Bureau Federation said while the average cost declined 4.5% from last year’s record, high supply costs and inflation continue to weigh on food prices.
Retailer News
DoorDash adds HSA and FSA payment capability
Shoppers can use their HSA or FSA debit card to pay for eligible items on the company’s app
Walgreens laying off 5% of its corporate workforce; chief medical officer leaves
Walgreens Boots Alliance is undergoing another round of corporate layoffs.
BJ’s Wholesale Club reports strong Q3
BJ's Whole Club's gross profit in the third quarter increased to $902.5 million from $877.1 million in the prior year period.
Walmart reports strong revenue growth, led by grocery
In Q3, Walmart U.S. sales were led by grocery and health and wellness, while general merchandise sales declined modestly.
Holiday Happenings at 7-Eleven and Pilot J
The companies have announced festive merch collections and campaigns to celebrate the season.
Kroger's Freshgiving Prices are Even Low, Low, Lower than Last Year's
Retailer cooks up a holiday meal at less than $5 per person
ALDI Named Retailer of the Year
CEO Jason Hart explains how the grocer plans to keep accelerating growth
Associated Food Stores Debuts Smaller Concept for Macey’s Brand
The 1st hyper-localized Macey’s Market opens in Park City, Utah
Publix Names New CEO
President Kevin Murphy steps into leadership position while SVP John Goff is promoted to president
Giant Eagle Offering Exclusive Black Friday/Cyber Monday Deals
Through Nov. 27, customers can save on groceries, gift cards, car washes
Albertsons Taps Afresh Solution for Meat and Seafood Departments Chainwide
Grocer expands AI-powered store ordering and inventory platform after successful produce deployment
Northgate González Market Debuts New Retail Concept
Mercado González to offer unique Mexican culinary experience in Costa Mesa, Calif.
Grocery Outlet Enters Ninth State With Ohio Store Opening
Grocery Outlet has entered its ninth state with the recent opening of its store in Boardman, Ohio.
Save Mart, Lucky, FoodMaxx Stores Available On DoorDash
DoorDash has begun a partnership with The Save Mart Companies to bring Save Mart, Lucky and FoodMaxx locations to the DoorDash Marketplace.
Shopper News
How grocers are preparing for a very merry omnichannel holiday
Strategies include stress testing digital channels, increasing digital promotions, and expanding delivery and pick-up options
Survey Notes Barriers To Boosting In-Store Experience
Significant disconnects between physical and digital commerce and store and corporate leadership are among the key barriers to improving the grocery experience, according to a study conducted by Forrester Consulting on behalf of Research Triangle Park, North Carolina-based Toshiba Global Commerce Solutions.
Survey: Consumers buy less, opt for private brands to save money
A large majority of Americans are buying fewer products overall, and a sizeable number of consumers have switched to private label brands to save money.
Over 55 Million Americans Expected to Travel for Thanksgiving
Car travel is up 1.7% this year, with 49.1 million people predicted to drive to their destination.
How Remote Work Is Reshaping Americans’ Purchases
People are spending less on travel and services; ‘they buy stuff instead.’
US holiday shopping 2023: Consumer caution and retailer resilience
The final stretch of an increasingly long holiday shopping season is critical for retailers, particularly as consumers focus on value and new shopping journeys.