Week of October 30, 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
Kwik Trip Offers Free Beer Following Outage
Some customers in Wisconsin received one free brew.
Organic Produce Making a Comeback
For the second quarter in a row, organic fresh produce grew slightly in year-over-year sales and volume in the third quarter of 2023
‘Yellowstone’ Food Line Debuts More Cowboy-Inspired Products
Fans of TV series can indulge in flavors of the West, from ranch-inspired breakfasts to restaurant-style BBQ meats
Walmart celebrates re-grand opening of 117 remodeled stores
Walmart's largest single-day rollout of re-grand openings is part of more than 700 store modernizations expected in 2023.
CVS Health reports strong Q3
CVS Health’s total revenues for the third quarter increased to $89.8 billion, up 10.6% compared to the prior year.
Will holiday sales be ho, ho, ho or ho hum?
his year’s early holiday season appears off to a slow start, per a Placer.ai analysis, which notes that retailers might need to get creative to convince shoppers to walk through their doors.
Federal Lawmakers Call for Probe of Recent Oil & Gas Deals
Senators are urging the Federal Trade Commission to look into whether or not proposed acquisitions by Chevron and ExxonMobil may violate antitrust laws.
Beyond Meat slashes workforce as business model is under fire
The plant-based giant continues to face headwinds as consumers prioritize affordability.
‘Startup nation’ at war: How Israel’s food tech sector is handling upheaval
The country has been a hotbed for the tech sector, especially for food, but the Israel-Hamas war has put employee engagement and product development initiatives on hold.
Private label is booming, and so is the PLMA show
Kitchenware/houseware, wine/spirits, and beauty/cosmetics will get their own sections on the floor at this year’s show
Retailer News
Target lights up digital in holiday push that balances sentiment, value
The return of experiential activations after several years and a 20% increase in digital investments aim to drive home a message around affordability.
7-Eleven, Inc.'s 'Brands with Heart' Program Unveils Brands of Tomorrow and Celebrates Those with Purpose
Selected brands to receive coaching, mentoring from 7-Eleven leadership and the chance to participate in an in-store test at 7-Eleven®, Speedway®, and Stripes®, stores
Casey’s and Pepsi Team Up for Veterans
Casey’s has donated $8 million to service members and their families through its round-up campaigns.
Sprouts Famers Market’s Small-Format Strategy Pays Off Big
Specialty retailer's net sales increased 7.6% in Q3
Publix's Net Earnings Soar Over 100%
Sales also increased by more than 7% in Q3
Lidl Touts Thanksgiving Dinner for Under $30
Discount grocer unveils pricing for holiday essentials
Amazon Opting for Food Over Fashion in Physical Retail
Retail company closes 2 apparel locations in Ohio and California
Schnucks, Upside Launch Co-Branded App
Partnership aims to help Midwest grocer achieve loyalty program goals
Terri Micklin Gets Going on Evolving GetGo's Strategic Vision
The new president focuses on assessing what brings customers value, diversifying the convenience chain's offers and growing its neighborhood strategy.
7-Eleven Brews Up Holiday Coffee Offerings
New, exclusive flavors feature notes of peppermint, chocolate and caramel.
General Mills, Walmart Collaborate On Regenerative Agriculture
General Mills, Walmart and Sam’s Club have begun a collaboration to help accelerate the adoption of regenerative agriculture on 600,000 acres in the U.S. by 2030.
UNFI Selects Persaud As President, CEO Of Retail
United Natural Foods Inc. has announced that Andre Persaud will lead the company’s two retail banners – Cub and Shoppers Food Warehouse – as president and CEO of retail
Shopper News
How Culturally Relevant Food Marketing Promotes Health
Informed marketing acknowledges the diverse backgrounds, dietary preferences, traditions and values of different cultural demographics
Most Consumers Still Leery of AI: Report
Despite general reservations, new dunnhumby research finds that younger consumers appreciate AI-enabled personalization
Consumers' Push for Protein Reflected Across Grocery Categories
Higher-protein offerings expand well beyond the meat case and in offerings that span dayparts and formats.
Consumers want the ‘plant’ back in plant-based: report
Whole Foods Market forecasted that more companies will focus on using clean ingredients in their products.