Friday, Hip Hop, and Retail News—the perfect combination. Check out the album while reading what’s happening in Retail:
Walmart names Publicis Groupe as new Media Agency. Walmart and Publicis have been working together for quite some time, and Publicis will now own both creative and media capabilities. Walmart, with their investment in retail media, ecomm, and omnichannel offerings, will benefit from having a single agency overseeing both areas. Publicis has also been investing in capabilities that made them a strong contender, including their purchase of CitrusAd.
Giant Eagle pioneers PayPal and Venmo as in-store payment methods. It’s been part of a growing trend we’ve seen, where alternative payment methods (particularly cryptocurrency) is starting to gain traction. From a customer standpoint, there’s interest in utilizing a digital wallet and contactless payment—brought on by the pandemic. Whether it’s a trend that sticks, however, remains to be seen.
A new study finds COVID delivered a hit to food and beverage brand valuation. Brand Finance, an independent consultancy, took a look at CPG portfolio’s and measured the change YOY. Customers, who perhaps had their habits disrupted, looked for healthier alternatives while locked down, and are changing habits towards health in general, shook up the category.
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