The Modern Retail Podcast

This podcast discusses Macy's rejection of a $5.1 billion takeover bid, Solo Stove's controversial marketing campaign with Snoop Dogg, and Etsy's plans to advertise during the Super Bowl, including a new tool called Gift Mode.

SharkNinja CEO Mark Barrocas discusses the company's evolution from infomercials to TikTok. They focus on constant product innovation and problem-solving. SharkNinja now operates in 31 product categories, using social media including TikTok for marketing. They emphasize the importance of storytelling and adapting to changing shopping patterns, including the impact of COVID. They also explore international expansion and global product strategy.

On this episode of the Modern Retail Rundown, the editorial staff breaks down the retail industry’s biggest stories. This week things kicked off with NRF's Big Show, covering themes like AI, inventory management and the American consumer's mindset. Meanwhile, Kristen Bell and Dax Shepherd's baby brand Hello Bello is set to be revived by its new owner, after the brand named a new CEO this week. Finally, a look at the much-needed holiday sales growth retailers saw in December, as indicated by new numbers released by the Commerce Department.

AriZona Iced Tea is a ubiquitous product in the U.S., but you didn't learn about it because of a flashy ad campaign."We have never had a billboard," proclaimed AriZona Beverage Company's CEO Abid Rizvi. "I will say this with almost 100% confidence: you will never see an AriZona billboard in Times Square."Instead, the way AriZona has marketed itself is by simply having a presence at the store. AriZona judges its products on three dimensions: does a product look good? Does it taste good? And is it priced fair? According to Rizvi, it's those three guiding principals that have led to AriZona's success.Rizvi joined this week's Modern Retail Podcast and spoke about the brand's history and its plans for the future.AriZona first launched in 1992 as a side hustle to co-founder Don Vultaggio's distribution business. Vultaggio formulated some iced tea and, through his distribution contacts, was able to get shelf space in some stores. Things snowballed from there -- with AriZona becoming one of the main competitors to players like Snapple. One revenue estimate puts the iced tea business alone at $2 billion in annual revenue.But iced tea isn't AriZona's only product. The company has expanded into other areas like fruit snacks and, most recently, hard iced tea. It's these ambitions -- along with international expansions -- that Rizvi, who became chief executive in 2016, oversees.But even when launching new products or going into different categories, the thesis has remained the same. "What I can tell you is: globally, no matter where you go in the world, people like good-tasting beverages," Rizvi said.With that focus on product, AriZona has traditionally shied away from expensive marketing gimmicks. Instead, according to Rizvi, the company's most important goal is making a product that tastes good and unique -- as well as has a unique branding that catches people's eyes in stores."People are not buying any particular brand because they saw a Super Bowl ad," Rizvi said.

Nike's COO Andy Campion and golf star Tiger Woods are the guests this week. They discuss the surprising departure of Campion and the end of Nike's partnership with Woods. Rent the Runway is also restructuring, with its COO leaving and layoffs. DTC exits are expected to increase in 2024. The podcast covers Nike's unexpected cuts and future plans, apparel brands seeking exit strategies, challenges and options for DTC brands at the revenue wall, and a preview of NRF and a panel on live shopping.

Ryan Babenzien, CEO of Jolie, discusses how they market their shower head as a wellness product. Jolie's growth strategy includes user-generated content and finding retail environments for wellness. The company emphasizes education about water quality and positions their product as a beauty wellness tool. They have achieved profitability and expanded into wholesale distribution, while also utilizing a subscription model.

This week on the Modern Retail Rundown: First, an overview of major CPGs like PepsiCo and retailers like Target receiving backlash for relentlessly raising prices the past few years. Then, a new report says that Shein and Temu's suppliers are being squeezed, experiencing thin margins and pressure to cut prices. Finally, Peloton's latest turnaround strategy includes launching content on TikTok.

In a world of DTC booms and busts, Bombas has remained a rare constant.The brand, best known for its socks, launched in 2013 as an online-only brand and has consistently grown since then. Today, it brings in over $300 million a year, and while e-commerce remains one of its major revenue channels, it has expanded into stores like Dick's Sporting Goods and Nordstrom.According to co-founders David Heath and Randy Goldberg, the key to Bombas's success has been in staying focused on its core competencies and not expanding too quickly. "We were never the brand that was like let's go out and raise $150 million and try to be the biggest company as quickly as possible," said Heath.The two co-founders joined the Modern Retail Podcast this week and spoke about how Bombas has been able to grow while remaining true to its DTC roots as well as what's on the horizon for the brand.The major constant of Bombas's strategy has been being able to tell its story. The company sells basics like socks, underwear and t-shirts. And it also has a buy-one-give-one model that donates an item of clothing to a person experiencing homelessness. According to Heath, the company has always focused on telling that story as simply as possible. "From day one, as part of our go-to-market strategy, we invested heavily in brand," he said.But the other big lesson has been to figure out how to roll with the punches. As consumption patterns shift -- and social algorithms change -- so too does marketing. "I think that's the hallmark of really good modern brands: you're going to find people where they are in their world -- and you're attaching yourself to their life and not asking them to come into your world," said Goldberg.Put together, Bombas has figured out a model that doesn't stray from its root but allows it to grow to the hundreds of millions. And the co-founders plan on keeping with that plan this year and beyond."We look at the brands that we admire -- the Nikes, the Lulus, Under Armours, Patagonias of the world," said Heath. "These brands have all been around for 20, 30, 40 years, and they've built brick by brick every single year."

The retail world changed a lot in the last twelve months.Some companies launched, others went bankrupt. Several brands expanded while more than a few contracted. This week on the Modern Retail Podcast, we decided to look back at the biggest themes we observed this year.Host Cale Guthrie Weissman is joined by senior reporters Melissa Daniels and Gabriela Barkho. The three discuss major trends they saw in 2023 and what it means for the year to come. These include the rise in retail bankruptcies, the current state of venture capital and payment trends on the horizon.While we don't have a crystal ball, we do have data from the past year to inform insights about the next twelve months.

This week on the Modern Retail Rundown, the team dives into reports of the current political climate impacting holiday sales; Ikea warned of product delays due to Houthi rebel attacks in the Red Sea and VF Corp experienced a major cyberattack. Elsewhere, Rite Aid is being hit with a lawsuit by the FTC over alleged misuse of facial recognition technology at its stores. Lastly, this holiday season more people are shopping for pre-owned gifts according to a new Salesforce report.