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Welcome to a new week. Black Friday may be starting early this year, but don't forget Halloween. Americans are ready to do the time warp, statistically speaking. Spooky season participation rates are expected to be back to 2019 levels, according to the National Retail Federation. While many can agree on their love of frights, favorite candy is a matter of regional preference. According to Instacart, Eastern states tend to prefer peanut M&Ms and Twizzlers, while Western states tend toward Reese's Peanut Butter Cups and Red Vines. Digital shelves are being stocked accordingly.
Here's a look at what's on the schedule in ecommerce and retail this week:
Here’s where retail, ecommerce and CPG leaders are gathering this week:
DTCx Retain: Direct-to-consumer leaders gather in LA for three days of learning from founders, hands-on workshops and giveaways. Keynotes and panel discussions will feature leaders from LOVE Wellness, Gorgias, True Classic Tees, Klaviyo, Liquid Death and more. Virtual attendance available. Oct. 19-21
Supply Chain Visibility Summit: GSI US presents a virtual event to educate industry leaders on gaining visibility into digital supply chains. Topics include: Creating greater efficiencies and resilience, strengthening trading partner relationships and acquiring new customers. Oct. 20, 1-3:30 p.m. EST.
Modern Retail DTC Summit: What does DTC marketing look like in a changed landscape? That's the question that will be explored in Miami by leaders of Stitch Fix, Levi's, Poppi and more. Follow along at the Modern Retail Twitter account for takeaways. Oct. 17-19
Path to Purchase Institute Live: Top brands and retailers like Kroger, Mondelez and General Mills gather in Chicago. The event features curated sessions, an expo showcase, networking and more. Focus topics include retail media, BevAlc, omnishopper and more. Oct. 18-20
The focus of this week's data on the economy turns to housing. This is a key area both for the home goods industry, and the consumer economy as a whole at a time when the Federal Reserve is making moves to cool demand to bring down inflation. Last month, Chairman Jerome Powell said that the housing market will likely need a “correction” to get supply and demand back into balance.
- New residential construction will be reported by the US Commerce Department. Wed., Oct. 19, 8:30 a.m.
- Existing home sales will be reported by the National Association of Realtors. Thurs., Oct. 20, 10 a.m.
Third quarter earnings season swings into full gear with a number of bellwether brands in consumer goods, tech and more. Here’s a look at reporting companies relevant for ecommerce and retail:
- Mon., Oct. 17: Bank of America
- Tues., Oct. 18: Netflix, Albertsons, Johnson & Johnson, Hasbro, Omnicom
- Wed., Oct. 19: Procter & Gamble, Tesla, Prologis
- Thurs., Oct 20: Snap
- Fri., Oct 21: American Express, Verizon, Simply Good Foods
Trending in Economy
LadderUp is aiming for 50% LGBTQ+ and BIPOC participation. Shopify will provide access to its platform.
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.”
What will entrepreneurs receive?
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.