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Instacart Business aims to help firms stock up on food, supplies
Ecommerce is going B2B in 2023.
Instacart has a new service designed to help businesses stock up on supplies and food.
The news: Instacart Business launched this week, marking an expansion of the grocery technology company’s marketplace with features for a new type of customer. The business-focused offering is set to roll out a host of features that are designed to help small businesses stock up on items such as food and supplies.
How it works: Instacart said businesses often manage multiple vendors as they stock up on supplies. With Instacart Business, it is looking to provide same-day delivery, and allow purchasers to order on items on an as-needed basis. Instacart said the service will include no monthly minimums, and no additional contracts. At launch, Instacart said it will have items available from Costco Business Center, Staples, Restaurant Depot and BJ's Wholesale Club.
Key quote from Instacart COO Asha Sharma: "At Instacart, we believe that the cost of doing business shouldn't be so costly - especially for small businesses that are essential to the communities they serve…From stocking up on snacks in the office break room to getting last-minute supplies delivered to a family-owned restaurant, our affordable, convenient and flexible marketplace connects thousands of retailers to businesses nationwide, but with some new features tailor-made for this important community.
Features included: Instacart said the following features will roll out now and in the coming months:
Stock lists: Customers can prepare a shopping list that can be shared with a team, and have items ordered.
Reordering and auto-ordering: Items from a previous cart can be added to an order automatically. Plus, purchasers can set access an auto-order feature.
Flexible delivery: Items can be ordered for same-day delivery, under-30 minutes, no-rush delivery at a discount or long distance delivery.
Business credits: Customers can distribute credits to teams and locations with category restrictions, invoicing, and monthly reporting.
Tax-exemption: Nonprofits, healthcare, and political organizations will be able to save on tax-exempt items.
What it says about commerce in 2023
B2B boost: Instacart has been growing its offerings from retailers beyond grocers, delivering office supplies and larger food orders. Serving business is a natural extension of these capabilities. At the same time, the new features offer a path for Instacart to add customers that are buying large orders regularly, increasing both AOV and frequency. Instacart’s launch comes a few weeks after Walmart launched its own business-focused portal. At a time when high inflation is leading consumers to cut back on discretionary spending, finding additional profitable business lines is especially attractive for executives. The recurring revenue generated by B2B offerings could prove especially valuable in a year that is expected to see continued economic headwinds.
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Kellogg's takes inspiration from employees, Latin in snacks rebrand
Kellanova is now the parent of Pringles, Cheez-Its and Pop Tarts.
Kellogg Company's snacks business is now Kellanova. Here are a few finer points about how the forthcoming parent of Cheez-Its and and Pop-Tarts arrived at the new name.
Last year, Kellogg announced plans to split its business into multiple companies.
Now, one company will have North American cereals like Frosted Flakes, Froot Loops and Rice Krispies under the WK Kellogg Co banner.
Another will have snacks like Pringles, North American frozen foods such as Eggo and plant-based brands like MorningStar Farms.
This week, Kellogg announced that the snacks business has a new name: Kellanova.
Here are the strategies that Kellogg employed that led to this name:
- Ask the employees: Kellogg Company asked employees for input on the name, and received 4,000 suggestions from 1,000 employees.
- Listen to the results: 20% of the employees suggested a variation of the W.K. Kellogg name, while other employees suggested that the name include "nova."
- Go to the root: "Nova" comes from the Latin word for new. CEO Steve Cahillane said it "signals our ambition to continuously evolve as an innovative, next generation, global snacking powerhouse."
As The Wall Street Journal reports, this is just the latest new company name to take a Latin root in recent years, as Kellanova joins GE Vernova, Mondelez and Altria. It's also among a number of spinouts being completed by corporations, joining GSK spinoff Haleon, J&J's Kenvue and a forthcoming company that will spin out of 3M.
Even with a name that emphasizes moving forward, Kellanova is keeping one element that is familiar: The logo still has the iconic cursive K. It will even get the boldly simple stock ticker symbol "K" to go along with it.
Even the WK Kellogg Co is combining the past and future. The company is seeking to position itself as a "117-year-old startup," even as it draws on the name and signature of the Kellogg's founder. There's even a more subtle hint about an unwritten chapter: The "Co" doesn't have a period.
To get to the future, you need to bring along a bit of the past.