Fast Casual
The U.S. fast-casual restaurant market will increase by $55.4 billion from 2022 to 2027, growing at a compounded annual growth rate of 11.56%, according to a report by Technavio. "The demand for new flavors, bold flavor combinations and premium alternatives is growing among all ages but is greatest among millennials, who want options to personalize food based on their daily calorie intake," per Fast Casual.com.
QSR magazine
Burger King is in the second year of its “Reclaim the Flame” plan, which promises a fresh marketing perspective and a prototype restaurant referred to internally as "Sizzle." It's designed not only for the evolution of Burger King, but for where the consumer has taken quick service as a whole. One of the two Sizzles built thus far reported one of the best quarters in the company’s 63-year history.
QSR magazine
McDonald’s, Pizza Hut, Burger King, Dunkin’, Taco Bell, Jimmy John’s, Chipotle and Little Caesars have paid the price for expensive ad spots during the Super Bowl and other sporting events. But is is worth it? "According to data gathered by GWI over the last four years, there are approximately 71.7 million Americans who are actively interested in watching sports. Of those, 36.3 million say they are regular customers of 'fast food' restaurants," per QSR Magazine.
The New York Times
Consumers have had enough of brands that try too hard. "Being weird on social media has become standard practice for corporate brands," per The New York Times. "This has long caused some older people to recoil. And there are signs it is no longer working with millennials or Gen Z customers. ... You’re not alone if you are annoyed by the memes, slang, misspelled words and abbreviations now regularly put into the world by once buttoned-up corporate behemoths."
Supermarket News
Instacart Health Fresh Funds grocery stipends is launching as a benefit for post-operative and postpartum patients insured by a health plan sponsored by a Mount Sinai Solutions employer or union customer. "The new program is designed to alleviate challenges to accessing fresh groceries, pantry staples and household essentials following a major life event, such as a joint replacement, birth, or bariatric surgery," per Supermarket News.
Fast Company
Actor turned entrepreneur Tracee Ellis Ross founded Pattern Beauty, a Black-owned, Black-centered haircare brand for people with textured, curly hair in 2019. Ross talked about how the brand has evolved, and her own personal hurdles as a Black woman trying to fit into beauty standards that didn’t reflect her own. “I spent a lot of years understanding my hair, learning to love my hair,” she said during her conversation with Kc Ifeanyi, Fast Company’s executive director of editorial programming.
Beverage Industry
For a fifth consecutive year, Mtn Dew will release a "mystery flavor" tied to Halloween. "For the first time ever, Mtn Dew has partnered with the iconic Airheads candy to infuse its Cherry flavor into the classic Halloween drink for this year’s mystery Voo-Dew flavor," per Beverage Industry.
Wine Enthusiast
There are new eco-friendly liquor packaging options, but getting companies to consider them is another story. "The spirits industry has a sustainability problem," per Wine Enthusiast. "While so many brands earnestly preach the virtues of supporting the environment by reducing waste, the spirits industry is among the worst in providing anything resembling eco-friendly packaging."
Bloomberg
Walmart is reporting reduced grocery sales due to GLP-1 weight loss drugs like Ozempic and Wegovy, which reduce appetites. The retailer is analyzing shopping behavior of people on the drugs, per Bloomberg.
The Cut
Former Abercrombie & Fitch CEO Mike Jeffries is facing multiple allegations of sexual exploitation. "According to a damning BBC News investigation, Jeffries and his British partner, Matthew Smith, allegedly facilitated the recruitment of young men, many of them aspiring models, for international events where they are said to have coerced them into sex acts," per The Cut. "The alleged sex events took place between 2009 and 2015 at Jeffries’s New York residences and at luxury hotels in London, Paris, Marrakesh, and Venice."