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Is there a place for specialty retail?
Stephen Babcock
June 06, 2023
CI&T’s Melissa Minkow poses a key question in the post-Bed Bath & Beyond landscape: “What is the future of specialty retail?” While multi-category expansion and the growth of DTC have upended this segment, Minkow writes that there is still room for retailers that have a strong identity, add value and innovate. “There’s no Bed Bath & Inbetween,” Minkow writes.
Beauty is booming, and ecommerce platforms are a top destination for consumers seeking out the latest products, according to MikMak. In particular, mass retailers have stepped up beauty offerings as they seek to gain market share, while Instagram is the top social channel. – Drug Store News
In this week’s funding and deal update, the aggregator space is active with M&A and a DTC cookware brand is joining a kitchen giant. Meanwhile, IKEA is ready to roll out newly-purchased warehouse management software and Authentic Brands Group acquired a boot icon. Plus, there’s new investment to report for YouTube influencer Emma Chamberlain’s coffee brand and retail forecasting.
Insider Intelligence now says retail media spending will reach $55.31 billion by 2024. It’s one of the most important advertising channels right now, but analysts said there are challenges. In particular, it’s tough to measure incrementality, and there’s no “arbiter of truth.” – Insider Intelligence
Consumers are expected to break records as they buy gifts for dad this Father’s Day, according to NRF and Prosper Insights & Analytics. Online is the top shopping destination, while subscription boxes are gaining interest.
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