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Weekly Round Off With HTE ✨
🌟 Hey there, dear readers! It's that time of the week again when we gather around to catch up on the latest and greatest in the Direct-to-Consumer (DTC) world. 🚀
So, let's get this party started! 🎉
Welcome back to another exciting edition of our DTC (Direct-to-Consumer) Insider newsletter. 📰 Our mission: to serve you the freshest news and insights straight from the heart of the DTC universe. 💡 With every update, we're arming you with the knowledge to be the smartest one in the room. 🤓
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Why The October Prime Day Turned Out To Be A Hit With CPG Brands 🛍️👏
Why Dollar Shave Club Cut Its Homegrown E-Commerce System 🪒💻
Walgreens To Settle Rite Aid Investors' Merger Claims For $192 Million 💰💼
Italy's Cucinelli Raises 2023 Sales Growth Guidance Again 🇮🇹📈💼
Condé Nast Expands Beauty Focus To Diversify Revenue 💄💰
Why The October Prime Day Turned Out To Be A Hit With CPG Brands 🛍️👏
19 October, 2023, Modern Retail
Amazon's recent Prime Big Deal Days event led to a significant surge in sales for various food and beverage brands on the platform. 📈 Baking brand Supernatural saw a fivefold increase in sales during the event compared to the same period last year, with products like rainbow softie sprinkles and food color variety packs performing exceptionally well. 🍰🌈 Beverage brand Recess experienced a sevenfold increase in sales, while mushroom-based energy drink Odyssey Elixir reported a remarkable 1,210% sales increase compared to the previous year's fall Prime Day. 🍹🍄
Amazon's increased focus on grocery and consumable products
Promotion of the Subscribe and Save program 📦🍽️
Amazon prominently featured the grocery category during Prime Big Deal Days, a departure from its usual emphasis on electronics and high-value items. 🛒
The strong performance of CPG brands during the event reflects Amazon's growing commitment to this sector, with expectations of continued growth in the future. 💼📈
Overall, the event showcased strong consumer sentiment and an eagerness to find good deals, setting the stage for the upcoming holiday shopping season. 🛍️🎉
Why Dollar Shave Club Cut Its Homegrown E-Commerce System 🪒💻
19 October, 2023, Mar Tech
Dollar Shave Club transitioned from its homegrown e-commerce system to third-party platforms 🚀 to accommodate its growing subscriber base. The migration, which includes over one million subscribers, was facilitated by a Shopify Plus-centric stack, incorporating Ordergroove, Gorgias, and Klaviyo for subscription management, customer support, and marketing automation. The transition achieved a 99.99% success rate with no downtime ⏱️.
This move allows Dollar Shave Club to better maintain and expand its subscriber base and streamline the customer experience. It also supports the brand's shift towards a more data-driven and personalized approach to marketing 📊🤖, utilizing AI and customer data integration. The decision reflects a broader trend among direct-to-consumer brands to leverage third-party solutions to enhance digital sales and subscriptions, particularly for consumer packaged goods 📈📦.
Walgreens To Settle Rite Aid Investors' Merger Claims For $192 Million 💰💼
20 October, 2023, Reuters
Walgreens Boots Alliance has agreed to pay $192.5 million to settle a class action lawsuit by Rite Aid investors who accused the company of misleading them in 2017 regarding the scrutiny of their pending merger. This significant settlement, subject to court approval, marks the resolution of a fiercely contested legal battle. 🤝💰 The lawsuit revolved around allegations that Walgreens downplayed antitrust regulator scrutiny of the merger, which was eventually abandoned in June 2017.
Instead, Walgreens purchased around 42% of Rite Aid's stores for $4.38 billion. The settlement is particularly notable as it comes amid Rite Aid's bankruptcy protection filing, where shareholders are unlikely to receive any compensation as part of the proposed bankruptcy plan. ⚖️💼📉
Italy's Cucinelli Raises 2023 Sales Growth Guidance Again 🇮🇹📈💼
19 October, 2023, Reuters
Italian luxury brand Brunello Cucinelli (BCU.MI) raised its 2023 revenue projection following a substantial sales surge at constant exchange rates in the first nine months of the year. The renowned cashmere fashion house now anticipates a 20%-22% revenue increase, up from the prior estimate of approximately 19%.
They confirmed a 10% sales growth projection for 2024 and foresee a 10% increase in 2025 sales, citing strong luxury demand, market growth potential, and ongoing boutique expansion.
Sales during the January-September period added up to a dazzling 818.4 million euros ($865.5 million) 💰, marking a 27.5% jump from last year's 642 million euros.
💲($1 = 0.9456 euros)
Condé Nast Expands Beauty Focus To Diversify Revenue 💄💰
20 October, 2023, Glossy Co
Condé Nast, known for its presence in the beauty industry, is actively connecting with consumers through real-world events and fresh content. Allure is set to host its first ticketed consumer event, "The Best of Beauty: The Live Event," in New York City on October 21, offering a live version of its Best of Beauty awards. Meanwhile, Vogue is launching a Vogue Beauty vertical, incorporating beauty content into its Forces of Fashion consumer events held in various cities this October. GQ is gearing up for a new video series on men's grooming trends, and Self hosted the Healthy Beauty Awards in June as a standalone event.
While Condé Nast doesn't often disclose financials, it reported positive EBITDA earnings for 2022 but missed its revenue targets. The company is striving to cultivate strong reader relationships through diverse touchpoints, including real-world events, memberships, and product awards.
These initiatives reflect the broader trend in the media industry of diversifying revenue streams to engage audiences. Beauty's growing importance in media diversification underscores its potential for generating revenue and societal influence. Beauty has become a topic that can be explored by various publications, reflecting evolving perspectives on diversity and identity.
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As we wrap up this edition of our newsletter, we hope you found the blend of news and insights as invigorating as we did. The world of DTC and beyond continues to evolve, and staying informed is the key to success. Keep those entrepreneurial spirits high, and remember, we're here to keep you ahead of the game. 🚀🌟📰
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