The Modern Retail Podcast

Bea Dixon, founder and CEO of The Honey Pot, created her plant-derived feminine care brand after facing bacterial vaginosis. She discusses how the vaginal wellness space is evolving, asserting that 'better-for-you is the new conventional.' Dixon shares her emotional journey following a major business sale, expressing gratitude for her new partnership with Compass Diversified. She emphasizes the importance of innovation in feminine care products and highlights how consumer insights are driving her company’s growth and rebranding efforts.

Dollar Tree sells Family Dollar for a mere $1 billion, far below its original price, highlighting struggles in the dollar store market. GameStop plans to shutter around 1,000 locations while eyeing potential investments in Bitcoin, reflecting their battle in the retail sector. Meanwhile, H&M faces plummeting profits due to high markdowns and inflation, grappling with altered consumer habits and fierce competition in fast fashion. The conversation delves into the evolving dynamics impacting these major retail players.

Victoria Gioia, co-founder of Perelel, shares her journey in building a successful wellness brand during the pandemic. She discusses how organic social media and a subscription model fueled early growth while she personally handled customer service. Perelel's impressive 600% annual growth is notable, along with their expansion into new products like a protein powder designed specifically for women, addressing issues such as brain fog and fatigue. Gioia emphasizes the importance of customer feedback and medical insights in shaping their offerings.

Klarna is making waves as it prepares for an IPO, with key partnerships like those with DoorDash and Walmart enhancing its buy-now, pay-later services. Meanwhile, Edible Brands is jumping into the cannabis market with the launch of Edibles.com for THC-infused products. On the other hand, Nike is grappling with weaker sales and is implementing a strategic turnaround plan, including leadership changes and a focus on direct-to-consumer sales, as it seeks to navigate a challenging retail environment.

PopSockets is the leader of what its CEO, Jiayu Lin, likes to call the phone grip category. The company is known for small, retractable circles that come in a  wide variety of prints and colors and attach to the back of someone’s phone, making it easier to grip.But, the company really wants to be known as a lifestyle brand. It’s an inflection point that many accessories brands reach at one point or another, as they want consumers to know them for more than just a single widget. And, Lin is thinking day in and day out about how to position PopSockets as a lifestyle brand through events, collaborations, new product launches and more.“I want to take [PopSockets] to the next level by transitioning the company from a tech accessory to a mobile lifestyle brand,” she said. Lin joined The Modern Retail Podcast to talk about her vision for PopSockets. She’s been with the company since 2022, starting out as its gm of APAC and becoming the company’s CEO in September. PopSockets has been focused on product expansion for the past few years, and it now sells phone cases, wallets and more, in addition to its ubiquitous grips.  One concept Lin is particularly interested in is the idea of the mobile lifestyle — that is, as people carry their phones everywhere, phones are increasingly becoming an extension of people’s identity. So, PopSockets is focused on launching a greater variety of products that speak to people’s interests and hobbies — for example, a music festival survival kit. “This idea of a mobile lifestyle – we want to be part of you, and an extension of you, to help you express yourself — whether it's at work, at home or at play,” Lin said. Creating exclusives for different retailers like Walmart, Best Buy, Apple and more is also a big part of this. In addition, PopSockets is looking at more pop-up opportunities and events this year, Lin said. “It’s very important for us that we find the right channels for the different products we carry,” she said. 

This week's Modern Retail Rundown kicks off with news of CVS opening mini pharmacies, as part of an overall plan to scale back its large footprint. Elsewhere, the beauty and skin-care segment is showing signs of slowing sales as brands like Futurewise shut down and Ulta reports weak growth, reflecting softness among U.S. beauty sales. Similarly, apparel retailers like American Eagle are forecasting a drop in sales during Q1, a potential harbinger of things to come.

Elaine Choi, CEO of Crown Affair, shares her journey from founding president to leading the hair care brand that made waves by entering Sephora. She discusses the company’s explosive growth fueled by social media visibility, including Doja Cat's viral Met Gala moment. Choi highlights the challenges of rapid scaling, the importance of authentic community engagement, and the strategic pivots made during the pandemic. She also emphasizes the value of micro-influencers and effective team management in driving brand success in a competitive market.

On this week’s Modern Retail Rundown, the staff discusses the drama surrounding a planned Neiman Marcus store closure in downtown Dallas. Elsewhere, reports swirl that Forever 21 is preparing for a possible bankruptcy, its second in six years. Lastly, Modern Retail looks at the battle that's brewing in the convenience store space as 7-Eleven’s parent company tries to fight off a takeover bid by Circle K’s owners.

Cleaning company Dropps hit shelves in Target this week, hoping to capture market share in the competitive category by offering a "greener" alternative. And one of the first ways it's hoping to catch shoppers' eyes is with its paperboard, trapezoid-shaped container next to the plastic tubs of laundry and dish pods."It is paperboard within a sea of plastic," said CEO Alastair Dorward, "and the unique form and the shape really presents an excellent billboard on shelf."Dorward joined the Modern Retail Podcast to talk about the company's expansion plans as Dropps made its Target debut online and in stores. The over-30-year-old company makes pods for dish and laundry that are USDA-Certified Biobased, Leaping Bunny Certified and wrapped in a biodegradable film. The launch also includes a new 4-in-1 Plus Oxi Biobased Power Laundry Detergent Pod that's exclusive to Target and Dropps.com, as the company looks to compete with legacy brands that offer "tiered" pods for different uses.Dorward said Dropps is looking to find a mass audience after nearly two decades of direct-to-consumer operations. The former CEO of Method, Dorward took the helm at Dropps about two years ago and worked to take the product from its DTC origins to mass retail.The so-called "green cleaning" category is expected to grow as customers look for more non-toxic ingredients in product purchases. Nielsen IQ found that 45% of consumers want to buy products that have antibacterial properties, non-toxic ingredients and disinfectant abilities, for example.

Target's exciting partnerships with Champion and Warby Parker are set to spice up their offerings, making shopping fun again. Meanwhile, Starbucks is simplifying its menu, eliminating complexity to improve customer experience and streamline operations. Amidst economic worries, many Americans are engaging in 'doom spending,' driven by anxiety over finances and trade wars. This trend raises eyebrows as credit card debt rises, revealing how consumer behavior shifts in uncertain times.