Retail sales rise faster than expected in October even as inflation pushes prices higher
Retail Sales rose 1.7% in October demonstrating U.S. shoppers accelerated their level of spending in October even as the prices of goods jumped at their fastest pace since the 1990s, according to a Commerce Department report on Tuesday.
Target announces Q3 earnings, much like Walmart, beats expectations but are seeing margin challenges.
- Revenue: $25.7B
- Comp sales: +12.7% (growth entirely driven by traffic)
- Digital sales: +29%
- Same-day services (Order Pickup, Drive Up and Shipt) +60%
Supermarket chains unveil private-brand additions
A big day for retailer private brands as 3 big players announce additions to their lineups.
- Save Mart Cos. introduced a new food brand called Crav’n with products ranging from chips, snacks and desserts to cereal and frozen foods.
- H-E-B, has rolled out Field & Future by H-E-B, a new line of eco-friendly household and personal care products. More than two dozen Field & Future items are now on store shelves, and products run the gamut from sponges and toothpaste to baby wipes and dish detergent,
- The Kroger Co. has updated its Comforts line of disposable diapers with new designs and packaging, Kroger’s Comforts are aimed at providing a high-quality, affordable option for disposable diapers, a category that’s recently seen price hikes due to inflation and supply issues.
and lastly an article that caught many RetailWit readers attention today.
Ice Cream, Sex, and HBO a Perfect Partnership
An article from Steven Johnson the, Grocerant Guru, talks about 16 Handles, a New York City iconic soft serve brand is off to a very good start with a partnership that is sure to garner incremental business, buzz, and benefit. They announced a new partnership with HBO Max’s The Sex Lives of College Girls, a new Max Original series streaming November 18 on HBO Max. Is there anyone in the world that did not think this was the best marketing ideation of 2021?
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