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Liquid Death, Truff and Poppi are highlighted among a host of up-and-coming CPG brands.
Poppi bubbled up to #10. (Courtesy photo)
Instacart is highlighting the up-and-coming CPG brands rising up the digital shelf.
The grocery tech company compiled a list of the 75 fastest-growing emerging brands on its marketplace. The ranking was based on year-over-year sales velocity growth, and limited to certain brands based on age, sales, distribution and investment threshold.
"On this year’s list you’ll find lots of innovative options in the better-for-you category, including vegetarian meals from brands like Tattooed Chef, and allergen-free snacks from MadeGood and Love Corn, to sparkling beverages that pack a little extra punch – like a collagen boost in SkinTe and prebiotics in Poppi," Instacart writes in a blog post.
Here’s a look at the list:
The list arrives in a year in when Instacart has rolled out a number of new ad products that are designed to provide emerging brands with tools to gain visibility and increase sales on marketplace. Earlier this year, Instacart introduced display ads and rolled features that made them shoppable. This was followed by page templates that allowed brands to create shoppable destinations. A new ad-buying experience that centers marketing objectives in self-service ads also arrived this fall, alongside a new tool for promotions.
“Smaller, newer CPG brands are working hard to break into a crowded industry, find the right audience, improve awareness, and grow their distribution – all while managing limited ad budgets and competing with well-funded legacy brands,” Instacart writes in a blog post. “Over the last few years, we’ve been working with small brands to design flexible, accessible, affordable tools to amplify their products on Instacart.”
Instacart is one of the largest retail media platforms, and it’s clear that it is making room for startups looking to harness ecommmerce and marketplaces for growth.
LadderUp is aiming for 50% LGBTQ+ and BIPOC participation. Shopify will provide access to its platform.
LadderUp will include an 8-week ecommerce course. (Courtesy photo)
Shipt is launching a new accelerator program designed to provide ecommerce tools for local retailers.Called LadderUp, the program is centered on equity. Target-owned delivery owned Shipt said conversations with business owners have revealed that local entrepreneurs face “gaps” in technology, but they also want to participate in ecommerce platforms. The COVID-19 pandemic was especially difficult for Black business owners, who saw earnings drop between 11-28% in 2019-2020, as compared to the earnings decrease of 5-17% for the rest of the population.
With the new program, the company’s goal is to reach at least 50% LGBTQ+ and BIPOC participation in the program.
Shipt is aiming to serve businesses in Atlanta, Birmingham, Alabama, Detroit, Houston and Washington, D.C.
Target categories include: grocery/beverage, health, beauty, and floral/gifts retailers.
“Working with small businesses to build up their capabilities is a key part of our commitment to help create healthier, more resilient and equitable communities,” said CEO Kamau Witherspoon. “We recognize the unique role that we can play in both combating hunger in under-resourced communities and boosting small, local retailers that are so vital to communities across our country.”
Education: Business owners who are selected will receive an 8-week course with industry leaders that covers business-building topics including finances, efficiency, marketing, ecommerce 101, the basics of using Shipt, and legal knowledge.
Funding: Upon completion, retailers will provide $5,000 for businesses to invest in ecommerce.
Shopify access: Shopify, which is partnering with Shipt, is also providing to its access for a limited amount of time to help business owners build an online storefront and manage inventory. The program will also provide technical assistance.
Applications are open Feb. 6- March 6.