Morning Brew Daily Target Struggles To Recover from Pride Backlash & Is Food Delivery Dead?
Aug 17, 2023
This episode dives into Target's struggles with sales amidst backlash from their Pride Month collection. The retail landscape is shifting, as consumers increasingly opt for takeout and dine-in over food delivery services, spurred by rising costs. The hosts also explore the fascinating world of bioengineered foods, including the pink pineapple. Additionally, trends reveal that wealth inequality is declining, while independent artists on social media are reshaping the music industry. Tune in for insights that blend economics with cultural shifts!
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Target's Earnings Struggle
- Target's recent earnings report reveals struggles due to backlash against their Pride Month collection and shifting consumer spending.
- Consumers are increasingly prioritizing value retailers and experiences over discretionary items, impacting Target's sales.
Target's Recovery Potential
- Target's sales decline in June was greater than in July, suggesting the shopper backlash is fading.
- Target's 2013 data breach sales recovered within two quarters, offering a potential timeline for recovery.
Changing Music Landscape
- Two popular songs, "Rich Men North of Richmond" and "Planet of the Bass," highlight the changing music industry.
- These songs' success, originating from non-professional musicians, demonstrates the power of platforms like Spotify and TikTok in launching careers.