The Modern Retail Podcast

There are a lot of mixed signals about how holiday sales will perform this year, but DTC jewelry brand Awe Inspired is bullish.Awe Inspired sells jewelry like necklaces and bracelets, but they all feature pendants or charms meant to showcase empowerment, such as a Greek goddess or an astrological sign. The company's sales are up 45% this year, and it has become a celebrity favorite with people like Taylor Swift and Julia Fox showing off their Awe Inspired products. "We have some forces propelling us forward, so I'm planning to have a great holiday," co-founder and CEO Max Johnson said on the Modern Retail Podcast.Johnson spoke about the company's growth over the years, its marketing strategy as well as what he's focused on for this holidays this year.Awe Inspired first launched in 2018 while Johnson was working as a product manager at a telehealth platform. But it wasn't until 2020 that the company really began to see traction. The brand often partners with organizations promoting causes; it saw big spikes in popularity with jewelry like a Harriet Tubman pendant alongside the NAACP and a Florence Nightingale charm with the National Federation of Nurses that was introduced during the pandemic.With these launches came organic virality. In the case of the nurse pendant, for example, "the cast of Grey's Anatomy wore it," said Johnson.Now, Awe Inspired is trying to expand to offer more types of jewelry that reach new types of customers. "We're building a charm business," Johnson said.

The podcast dives into Keurig Dr Pepper's bold acquisition of the energy drink brand Ghost, showcasing the appeal of innovative flavors among younger consumers. It also tackles Tupperware's financial woes, discussing how the brand's failure to modernize led to bankruptcy. Additionally, there’s a look at the evolving landscape of direct-to-consumer sales, highlighting Peloton's partnership with Costco and the challenges brands face in adapting to new retail strategies. It's a deep dive into the shifting dynamics of consumer goods.

David Kaplan, CEO of Gin & Luck and co-founder of the iconic cocktail bar Death & Co, shares his vision of transforming a local favorite into a global brand. He discusses the ambitious expansion plans, including new bar locations and a cocktail-focused brand called Close Company. Kaplan emphasizes the importance of diversifying revenue streams through retail opportunities like an online marketplace and e-learning platform. Navigating legal challenges and maintaining brand integrity are also on the table as they aim for sustainable, meaningful growth.

A major partnership is brewing as Beyond Inc. invests $40 million in The Container Store, aiming to revitalize retail. Holiday shoppers are anticipated to spend big, even risking debt, with credit card debt soaring past $1.14 trillion. 'Buy Now, Pay Later' options are gaining traction among younger consumers. Meanwhile, Urban Outfitters is cutting prices on over 100 items to attract budget-conscious shoppers, amidst fierce competition and shifting shopping behaviors, particularly among Gen Z.

Celebrity-led brands have become one of the biggest trends. But it's not enough to simply have a big name associated with a company -- the person actually has to be involved.That's what has helped Made By Gather be such a success. Made By Gather is the parent company of Beautiful, Drew Barrymore's homewares company. Now, Made By Gather is relaunching another brand, Bella, alongside Demi Lovato.Made By Gather has been around since 2003, but only in the last decade has it begun really focusing on branding and high-profile partnerships. In 2010, "we got some really good advice that in order to really maximize the value of the business, you should think about launching your own brands and kind of control your own destiny," said founder and CEO Shae Hong.Hong joined the Modern Retail Podcast and spoke about the necessary elements of brand building and why Made By Gather believes there needs to be what he calls a "human at the helm."Before, Made By Gather made home products that sold in major stores like Target and Walmart, but there was no cohesive brand or story behind it. Beginning in 2011, the company realized it needed to have more elements than just good products.Now, companies don't only require having a cohesive brand -- they also need someone leading the narrative. Part of Made By Gather's focus has been finding the right partners to do this.After years of working in the home goods space and seeking out top-tier partnerships, Hong says he's figured out the formula for finding the best celebrity collaboration. "Really, it is trying to read whether somebody is genuinely interested in the category," he said.

On this week's Modern Retail Rundown, the staff discusses a recent letter from two high-profile politicians sent to CPG leaders like PepsiCo and Coca-Cola over their pricing practices. Then, we dive into news that the NRF isn't running its annual report on retail shrink. Lastly, the team discusses how rising cocoa prices are going to impact Halloween candy sales.

Plant-based milk has reached a point of maturation -- and Malk is helping take the products even more to the mainstream.The company launched in 2015, starting first in a farmer's market and expanding over a few years into retailers like Whole Foods and Sprouts. Now, the company's products -- which include almond, oat and cashew milk and creamers -- are sold in nearly 10,000 stores around the country and is the official alternative milk used in Erewhon smoothies.According to CEO Jason Bronstad, who joined the company in 2020, "[Grocery has] been the focus the entire time." It's a different track than competitors like Oatly, which grew thanks to distribution in cafes. "We believe that this product is for families," he said. "This product is for people at home."Bronstad joined the Modern Retail Podcast and discussed Malk's growth strategy and the plant-based milk space as a whole.Almond milk, for example, is still the biggest seller for both the industry and Malk. While oat was growing for a while, it began to lose its grounding over the last year over a growing consumer wariness of seed oils. While many plant-based milks do use seed oils, Malk doesn't. "Our job is to remind them that there is a great plant-based product that doesn't have the oils that they can stay in the family with," Bronstad said.But even with these consumer shifts, more people are seeking out these products. According to Bronstad, Malk is focused on finding what he describes as health-conscious consumers."In every single grocery store in America, there is a health-conscious consumer looking to make a better decision for themselves and for their families," he said.

On this week’s Modern Retail Rundown, the editorial team discusses the latest Levi’s earnings, including the potential sale of the under-performing Dockers brand. Meanwhile, QVC struck a deal with the USA Pickleball league for the rights to stream matches with and other shoppable pickleball content. Finally, this week also saw a major food acquisition, with PepsiCo buying Mexican staples startup Siete Foods to add to the conglomerate's better-for-you snack portfolio.

Grove Collaborative thinks it has found the way to become the Chewy of sustainable home products.The company has been around since 2012 but has gone through many iterations. For years, it was focused on being a subscription service that delivered curated baskets of its products -- such as paper towels and soaps -- to people's homes. It has tested out private labels as well as wholesale partnerships in stores like Target.The company went public via SPAC in 2022 and has faced some difficult terrain -- including a delisting threat. Last year, Amazon veteran Jeff Yurcisin joined as CEO. His focus has been getting the company on a solid footing."The goal was profitable growth," he said on the Modern Retail Podcast. "But we felt like we had to start with profitability."For the last four months, Grove has reported positive adjusted EBITDA. Similarly, the company announced a recent investment to help it pay down its debt load. Still, at its most recent earnings, it posted a net loss of $10.1 million. According to Yurcisin, these are the initial steps to get the company to become an online leader in natural and sustainable household products.He spoke about how he's been approaching this transformation and what's on the horizon.The first big change implemented as getting rid of mandatory subscriptions. "from my point of view, I wanted to enable subscription but I wanted to create an incentive for customers to subscribe -- not to force them to subscribe," he said.Similarly, Grove has focused on operational changes to streamline its business. It focused on improving its customer experience to make checkout more seamless as well as paying down its debt. It has also been refocusing its tech stack, which has included moving onto Shopify. According to Yurcisin, these changes are now beginning to pay off. The focus now, he said, is adding more customers to the fold so Grove can reach its potential."We believe it's a 57 million-person addressable market in the United States," he said.

On this week’s Modern Retail Rundown, the editorial team starts by discussing a new lawsuit filed by American Eagle against Amazon, in which the retailer alleges that counterfeit versions of its Aerie products are being listed on Amazon. Meanwhile, publicly traded e-commerce startups Grove Collaborative and Stitch Fix have provided updates on their latest progress in narrowing losses and becoming profitable.