Our Origin Story
Today is our birthday! RetailWit was launched 365 days ago. January 10, 2021 marked the day we started changing how Retail and CPG experts consumed content. Instead of endless newsletters, sites, blogs, social media, and Google alerts; RetailWit was intended to be a one stop shop for Retail Intelligence. 365 days of RetailWit, and what a year it’s been for us — and the industry.
Our first year of RetailWit translates to over 22,000 articles published (that’s 60 per day) from 260 sources, 200 QuickWit posts about the latest and greatest in Retail news, and 18,000 users. 365 days of RetailWit led to our categorizing algorithm, scoring system, at-a-glance industry trends, and (of course) the newly launched ability to personalize your newsfeed.
Not bad, year one, not bad.
2021 Trending Topics
All that data gives us a macro and micro view of what’s happening within the retail industry. 50 high level article categorizations gives us a bird’s eye view of the ecosystem, while 200+ granular article tags tells us about the trees in the forest.
Let’s take a look at the top five categories and tags:
Without a doubt, a tumultuous year: COVID, supply chain, cyber ransom attacks, inflation and more top the charts. As the media landscape evolved (Apple’s privacy moves, crumbling of the third-party cookie, rise of retail media), CPG companies are still getting their feet under them. Just like the Great Resignation, there has been a laser focus on the customer as a person (for the better, we’d say), technology, and new innovation in the physical and digital space—BOPIS, delivery, and ghost stores to name a few.
What’s next in 2022 for RetailWit?
Our vision remains: cut through the clutter and become the only place our readers (yeah, you) want to go for Retail and CPG industry intelligence. We’ve got a heck of a year planned to improve this site, our content, and bring new solutions to the table.
Let us do the work for you. Be the expert in the room with RetailWit in 2022. Stay tuned, next week we filter through all of the predictions and share our summary and POV on what 2022 holds in store for us.
– The RetailWit Crew.
And, as always, last week’s top retail news:
Rick Astley is back! starring in a Frito-Lay’s campaign featuring his song that clearly we will never be able give up. The “New Year, New You” spot highlights his hit song and instead of giving up things for New Year’s, consumers can lean into what they love, including their favorite snacks. The commercial debuted on Dec. 25, but the new iteration is a contest and TikTok tie-in that give consumers opportunities to interact with the campaign’s theme and music. Fans can visit www.NeverGonnaGiveItUp.com through Feb. 27 to share what they aren’t giving up and for a chance to win $1,000.
Target, who has had significant success with private label brands – having 10, $1B owned brands – goes for another one. We’re more surprised it took them this long to develop a brand in this category which they have a right to win in. This continues the larger theme of private label and brands battling it out, with brands facing a tougher battle (ie. retail media, inflation / cost, and perception).
Instacart and Tortoise are allegedly in talks to develop a hub-and-spoke model for dark stores (one dark warehouse, with robots delivering to specific households). The savings is said to be significant (50x), but it has yet to be proven in the real world.
The last mile dilemma continues, and it looks like the biggest retailer is starting to take matters into its own hands. Walmart announced on Wednesday it plans to expand its in-home delivery service from 6 million U.S. households to 30 million by the end of 2022. In order to scale this, the retailer said it will hire more than 3,000 associate delivery drivers — a newly created role — this year and also build out a fully electric fleet of delivery vans.
According to a recent study by Accenture “Why Shopping’s Set for a Social Revolution” they estimate social commerce will account for 17% of all ecommerce spend by 2025. It is expected to growth three times as fast as traditional ecommence.
Catalina and PlaceIQ will be bringing location-driven planning, measurement and attribution to CPG retailers. Catalina will use PlaceIQ’s Firehose Visits product to enhance its measurement, audience creation and analytics offerings. PlaceIQ will extend its large Point of Interest (POI) database to include over 30,000 custom locations to support Catalina’s growing out-of-home and place-based media service.
PlaceIQ’s location-based data combined with Catalina’s shopper transaction data and shopper panel data will enable advertisers to reach more precise audiences, optimize offline and online media engagement across channels, and deliver real-world ROI on a brand campaign’s performance.
Spoiler alert, it’s exactly what we all do – sign up and get the discount and then opt out of the communications off. But there is a bit more, as depending on the brand (and likely the initial experience) many consumers are willing to keep the communications on to learn about future sales, product offers, etc. Just like anybody who has launched a product, it’s relatively easy to drive that first trial via promotions but it’s a sign of how good your product is when you get repeat.
Shopify has filed for a patent for brick and mortar store traffic sensors. It’s similar to Amazon’s cashierless technology. Shopify has increased market share in the ecommerce ecosystem and has been developing omnichannel solutions for a few years now.
TikTok is (already) expanding outside of their owned platform into other media channels. Sharp strategic move by TikTok to expand their reach and audience base beyond Gen Z, and not be limited by their owned channels like other social platforms.
The Iowa-based grocer, which operates more than 285 stores, is boosting it’s store security by creating a “Hy-Vee Retail Security team” to “ensure the safety of our customers and our employees” and to combat “an increase in thefts and different crimes in retail locations”. It is a disappointing but not unexpected need in retail.