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☆ Gen Z is forcing fast-food restaurants to change their menus. They're now offering more spicy food and chicken to lure in younger diners.
▼ + stars: | 2023-05-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Gen Z diners crave spicy food and chicken more than other generations. Restaurant execs say that younger diners crave spicy food and chicken. "Spice levels generally heat up with younger generations," Fabiola Del Rio, VP of integrated marketing communications at Panda Express, told Insider. And where they can, Gen Zers like to get their chicken spicy, too. Or a restaurant exec who's noticed interesting dining patterns among your Gen Z customers?

☆ Kraft wants to remake the TV dinner
▼ + stars: | 2023-05-03 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

On Wednesday, Kraft Heinz officially introduced Homebake 425°/:30, the company’s new line of frozen meals. Kraft HeinzFor Kraft, the new brand is part of an effort to increase the company’s net sales by $2 billion through 2027. As part of its earlier turnaround efforts, Kraft Heinz has been trying to reinvigorate decades-old brands like Velveeta and Oscar Mayer. In that time, frozen food prices jumped 16.3%, well above recent annual trends for grocery prices as a whole. In 2020, Kraft Heinz announced that it was divesting its natural cheese business.

☆ TikTok's owner is laying the groundwork to launch a book publisher called '8th Note Press'
▼ + stars: | 2023-05-01 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +3 min

TikTok owner ByteDance applied for a trademark for a book publishing entity called 8th Note Press. The company is also hiring staff to "discover and sign authors" and ensure "novel completion." TikTok has become a popular destination for readers to discover new books, driving up publishing sales and sparking a thriving community on the app dubbed #BookTok. Now its parent company ByteDance may be building out its own publishing arm. The company in April filed a US trademark application for a new book-publishing entity that would be called 8th Note Press.

☆ Meta's Reality Labs records $3.99 billion quarterly loss as Zuckerberg pumps more cash into metaverse
▼ + stars: | 2023-04-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Meta CEO Mark Zuckerberg keeps racking up losses from his metaverse investments while downsizing his social media company through cost cuts. In its first-quarter earnings report on Wednesday, Meta said its Reality Labs unit, which is tasked with building the virtual reality and augmented reality technologies for the futuristic metaverse, recorded a $3.99 billion operating loss. The numbers show a slowdown from last quarter, when Reality Labs lost $4.28 billion on $727 million of revenue. For all of last year, Reality Labs recorded an operating loss of $13.72 billion on $2.16 billion in sales, underscoring how VR and AR technologies have yet to reach the mainstream. In March, Meta cut the price of its Quest 2 VR headset as well as the high-end Quest Pro.

☆ Old Navy’s response to slumping sales: More pockets
▼ + stars: | 2023-04-04 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Old Navy, known for its low-priced basic and trendy seasonal clothing, has adopted an interesting sartorial tactic amid sinking sales. The new dress styles with pockets rolled out into Old Navy stores this month and the retailer said it will also increase the number of summer dresses with pockets. As such, it is a good move for Old Navy to add them,” said Neil Saunders, retail industry analyst and managing director of GlobalData. Old NavyOld Navy’s fourth-quarter sales fell 6% over the previous year, while sales at its stores open at least a year fell 7%. Specifically, Old Navy and Gap brands both said shoppers were pulling back their spending on babies’ and kids’ items.

☆ Walmart rolls out fresh look for its website and app
▼ + stars: | 2023-04-03 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

Walmart has redesigned its website and app to try to encourage shoppers to browse and buy more. Starting this week, all customers who browse the company's website and app will see bigger and glossier photos, videos and social media-inspired content that Walmart hopes will nudge more purchases. It anticipates same-store sales for Walmart U.S. will increase between 2% and 2.5% excluding fuel, in the fiscal year ahead. He said along with offering low prices, Walmart wants to catch customers' attention by putting fresh, trendy and seasonal items in front of them, such as spring dresses, patio furniture and toys for Easter baskets. He said the website and app's new look could also lift sales for third-party sellers that have joined or could join Walmart's marketplace.

☆ Grime, dirt, stink and funk: Tween boys are skin care’s hottest market
▼ + stars: | 2023-03-26 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

But, until recently, there’s been a glaring shortage of products targeting the skin-care needs of one key demographic – tween boys. The affordable line, which includes a face wash, body wash, moisturizer and topical acne treatment priced under $25, rolled into Target stores and online the following year. “Whether it’s young sensitive skin, or acne, eczema or their first shave, boys have specific skin needs,” said Maguiness. courtesy Stryke ClubThe personal care products market overall in the US amounts to more than $25 billion annually (according to market research firm NPD), but very little of it caters to boys. The body wash, for example, contains prebiotic chia seed extract, which acts as an anti-inflammatory and anti-microbial ingredient, said Biren.

☆ Grime, dirt, stink and funk: Tween boys are skincare’s hottest market
▼ + stars: | 2023-03-26 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

But, until recently, there’s been a glaring shortage of products targeting the skincare needs of one key demographic – tween boys. Maguiness, a board-certified pediatric dermatologist, and three other co-founders launched the boys skincare brand in 2020, at the height of the pandemic. The affordable line, which includes a face wash, body wash, moisturizer and topical acne treatment priced under $25, rolled into Target stores and online the following year. courtesy Stryke ClubThe personal care products market overall in the US amounts to more than $25 billion annually (according to market research firm NPD), but very little of it caters to boys. The body wash, for example, contains prebiotic chia eed extract, which acts as an anti-inflammatory and anti-microbial ingredient, said Biren.

☆ The 'lipstick index' strikes again: Beauty shoppers are still spending big, even as US consumers dial back on everything else
▼ + stars: | 2023-03-13 | by ( Avery Hartmans | Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Beauty sales are bucking a trend of declining consumer spending in other categories. The strength in beauty is reflecting a long-held retail indicator called the "lipstick index." Consumers are spending more on beauty in general, with over a third of survey respondents saying they spent over $500 on beauty products in the past year, up from a quarter the year prior, according to Inmar Intelligence. Other beauty retail partnerships, like Sephora and Kohl's, are getting a boost from the lipstick indexUlta and Target aren't the only retailers seeing beauty products fly off the shelves. In fact, the allure of Sephora is so strong that it's helped buoy same-store sales for Kohl's and draw younger consumers.

☆ DeSantis first-week memoir sales far outpace books by Trump, Pence, Clinton and Obama
▼ + stars: | 2023-03-10 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

DeSantis' book sales also appeared to far outpace recently published memoirs by a handful of other Republicans who have either launched 2024 presidential campaigns or are considering it, according to BookScan. Former Vice President Mike Pence's "So Help Me God," released last November, sold 37,600 print copies in week one. Of course, book sales alone don't guarantee a politician's future success. Former Democratic presidential nominee Hillary Clinton sold 86,200 print copies of her 2014 book "Hard Choices" in the first week, BookScan data showed. On Friday, DeSantis' book was listed No.

☆ Ron DeSantis' memoir sold more copies in its first week than books by Donald Trump, Barack Obama, and Hillary Clinton
▼ + stars: | 2023-03-09 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +5 min

DeSantis' first memoir sold over 94,000 copies in its first week, a number that includes preorders. The first week of sales eclipsed those of Donald Trump, Barack Obama, and Hillary Clinton. Ron DeSantis' first memoir has outsold books by Donald Trump, Hillary Clinton, and Barack Obama during its first week of sales. Clinton's memoir "Hard Choices," about her time working in the Obama administration before mounting her presidential run, sold 86,200 copies in its first week, according to BookScan. The DeSantis political team declined to comment for this story.

☆ Nestle, Tyson and other food giants bet on air fryer boom to grow sales
▼ + stars: | 2023-03-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

An Air Fryer for sale at Kroger Marketplace in Versailles, Kentucky, U.S., on Tuesday, Nov. 24, 2020. Adam Graves, president of Nestle U.S.'s pizza and snacking division, said the company is leaning into the air fryer boom through its frozen food brands, specifically to offer customers more value. Other Nestle products, like Hot Pockets, now include air fryer cooking instructions alongside directions for heating up in the microwave and oven. Tyson is also a third of the way through adding air fryer directions to its packaging for its frozen prepared foods. The air fryer directions are boosting Tyson's brand favorability, according to Hall, who cited recent brand health data.

☆ Covid shrunk the restaurant industry. That’s not changing anytime soon
▼ + stars: | 2023-02-25 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

In 2020, Covid restrictions ground the nation’s bustling restaurant industry to a halt. Last year, there were about 631,000 restaurants in the United States, according to data from Technomic, a restaurant research firm. Meanwhile, restaurant operators are seeing their own costs, like rent and ingredients, rise, and say it’s hard to hire staff. With conditions so tough, some restaurant owners are advising newcomers to steer clear of the industry altogether. Daniel Jacobs, a chef and restaurant owner, has seen his own network of restaurants shrink over the past few years.

☆ TikTok helped Colleen Hoover sell 14.3 million copies of her books in 2022, new data shows. Here are 3 other key takeaways about BookTok's impact on sales.
▼ + stars: | 2023-02-22 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

Book sales declined 5.8%, but BookTok authors registered a 66% growth in 2022. NPD's BookTok authors list includes over 100 writers "featured prominently on TikTok's BookTok channel." These two charts show how much BookTok has grown over the years, and which BookTok authors have increased their sales in 2022. The power of BookTok goes beyond fictionIt's not just fiction authors like Hoover and Jenkins Reid who find success on the platform. "I cannot overstate the power of what's happening on BookTok," McLean said.

☆ Brooks CEO is out to prove that running is 'recession resistant'
▼ + stars: | 2023-02-22 | by ( Danni Santana | ) www.businessinsider.com time to read: +2 min

Brooks Running CEO Jim Weber expects more people to pick up running now than at the beginning of the pandemic. He told Yahoo Finance that running has been "recession resistant" over the last 30 years. "The future has never been brighter for performance running," Weber said in a statement. Brooks became the top adult performance running brand in the US in January 2022 and finished the year with 21% market share, the company said, citing NPD data. "That's the opportunity we see for Brooks," Weber said last summer.

☆ Watch CNBC's full interview with NPD Group's Marshal Cohen
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with NPD Group's Marshal CohenMarshal Cohen, chief retail industry advisor at market research firm NPD Group, joins ‘Power Lunch’ to discuss whether consumers have stopped spending or have moved on to spending different things. He also explains why 2023 will be the year of physical stores.

☆ People are spending more on groceries, pulling back on discretionary spending: NPD Group's Cohen
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeople are spending more on groceries, pulling back on discretionary spending: NPD Group's CohenMarshal Cohen, chief retail industry advisor at market research firm NPD Group, joins ‘Power Lunch’ to discuss whether consumers have stopped spending or have moved on to spending on different things. He also explains why 2023 will be the year of physical stores.

☆ TikTok had a big impact on book sales in 2022, with Colleen Hoover leading the way, according to new data. Here are 4 key takeaways about BookTok's effect on the industry.
▼ + stars: | 2023-02-17 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., demonstrates the Meta Quest Pro during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022. Analysts were expecting Reality Labs to record an quarterly operating loss of $4.36 billion on revenue of $715.1 million, according to StreetAccount. In July, Meta announced it was raising the price of its Quest 2 VR headset by $100. Meta then debuted its more expensive Quest Pro VR headset in October, pitching it to companies as an enterprise-workplace device for $1,500. This week, Meta is running a sale on its high-end VR headset, shaving off $400 for a limited time.

☆ McDonald's tops profit estimates, warns short-term inflation to persist
▼ + stars: | 2023-01-31 | by ( Hilary Russ | ) www.reuters.com time to read: +3 min

[1/3] McDonald's Crispy Chicken Sandwiches and fries are pictured in New York, U.S. March 30, 2021. REUTERS/Hilary RussJan 31 (Reuters) - McDonald's Corp (MCD.N) on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned short-term inflationary pressures would persist in 2023. McDonald's benefited from higher menu prices, increased restaurant traffic and sales in the UK, Germany and France rose despite fears of a recession in Europe. Visits to some other fast-food chains started to fall last summer as they hiked menu prices, he said. McDonald's U.S. comparable sales rose 10.3% in the quarter ended Dec. 31.

☆ McDonald's sales surge, warns short-term inflation to persist
▼ + stars: | 2023-01-31 | by ( Hilary Russ | ) www.reuters.com time to read: +3 min

[1/2] A huge advertisement for a branch of fast-food giant McDonald's is seen on the outskirts of Berlin, Germany, April 22, 2016. The burger chain's global same-store sales increased 12.6% in the fourth quarter ended Dec. 31, compared with estimates for an 8.6% rise, according to IBES data from Refinitiv. That is compared to a 0.6% decline for fast food overall in the fourth quarter over the previous year. Visits to some other fast-food chains started to fall last summer as they hiked menu prices, he said. McDonald's U.S. comparable sales rose 10.3% in the quarter.

☆ McDonald's beats profit estimates, warns short-term inflation to persist
▼ + stars: | 2023-01-31 | by ( Hilary Russ | ) www.reuters.com time to read: +3 min

REUTERS/Hilary RussJan 31 (Reuters) - McDonald's Corp (MCD.N) on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned short-term inflationary pressures would persist in 2023. McDonald's benefited from higher menu prices, increased restaurant traffic and sales in the UK, Germany and France rose despite fears of a recession in Europe. Even so, traffic rose 5% for full-year 2022 as McDonald's meals remained less expensive than many competitors, drawing low-income consumers. Visits to some other fast-food chains started to fall last summer as they hiked menu prices, he said. McDonald's U.S. comparable sales rose 10.3% in the quarter ended Dec. 31.

☆ Norway discovers trove of metals, minerals and rare earths on its seabed
▼ + stars: | 2023-01-30 | by ( Reuters Laura Paddison | Laura Paddison | ) edition.cnn.com time to read: +3 min

A Norwegian study has found a “substantial” amount of metals and minerals ranging from copper to rare earths on the seabed of its extended continental shelf, authorities said on Friday in their first official estimates. “Of the metals found on the seabed in the study area, magnesium, niobium, cobalt and rare earth minerals are found on the European Commission’s list of critical minerals,” the Norwegian Petroleum Directorate (NPD), which conducted the study, said in a statement. About 24 million tonnes of magnesium and 3.1 million tonnes of cobalt are estimated to be in manganese crusts grown on bedrock over millions of years, as well as 1.7 million tonnes of cerium, a rare earth element used in alloys. The manganese crusts are also estimated to contain other rare earth metals, such as neodymium, yttrium and dysprosium. “Costly, rare minerals such as neodymium and dysprosium are extremely important for magnets in wind turbines and the engines in electric vehicles,” the NPD said.

☆ Norway finds 'substantial' mineral resources on its seabed
▼ + stars: | 2023-01-27 | by ( Nerijus Adomaitis | ) www.reuters.com time to read: +2 min

The resources estimate, covering remote areas in the Norwegian Sea and Greenland Sea, showed there were 38 million tonnes of copper, almost twice the volume mined globally each year, and 45 million tonnes of zinc accumulated in polymetallic sulphides. About 24 million tonnes of magnesium and 3.1 million tonnes of cobalt are estimated to be in manganese crusts grown on bedrock over millions of years, as well as 1.7 million tonnes of cerium, a rare earth metal used in alloys. The manganese crusts are also estimated to contain other rare earth metals, such as neodymium, yttrium and dysprosium. "Costly, rare minerals such as neodymium and dysprosium are extremely important for magnets in wind turbines and the engines in electric vehicles", the NPD said. ENVIRONMENTAL IMPACTEnvironmental groups have called on Norway to postpone its seabed mineral exploration until more studies are conducted to understand the organisms living on the seabed and the impact of mining on them.

[1/2] Credit card is seen in front of displayed Visa logo in this illustration taken, July 15, 2021. REUTERS/Dado Ruvic/IllustrationJan 24 (Reuters) - U.S. card companies are expected to post the slowest revenue growth in seven quarters, as consumers tighten their purse strings and avoid spending on luxury and big-ticket items. Card firms pocket a small percentage of the dollar value of transactions and stand to lose out on fees if customers pivot away from buying luxury items. Shares in Visa, Mastercard and Amex closed last year between 3% and 10% lower. Mastercard and Visa are set to report quarterly results on Thursday, with AmEx rounding off the season on Friday.

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