Weekly Roundup – Week of 9.18.23
September 22, 2023
Top food and beverage-related stories highlighted in this week’s roundup – curated by our team of strategists and food enthusiasts:
Alcohol Distributors Make 4 Predictions To Round Out 2023
Goldman Sachs surveyed reps from 62 alcohol distributors, covering roughly 250,000 U.S. retail outlets to learn their forecasts for the beer and malt beverage category through the rest of the year. Distributors believe that Molson Coors and RTD cocktails will steal shelf and cooler space from Anheuser-Busch. And respondents shared they expect Twisted Tea to continue gaining momentum over hard seltzer brands like Truly whose latest offering, Truly + Vodka, has yet to recharge the brand’s sales volume. Find all four predictions, Here.
Top Trends Identified At The 2023 Plant Based World Expo
More than 250 booths were exhibited at this year’s Plant Based World Expo held in New York – the only 100% plant-based expo for retail and foodservice. Upcycled products, from nutrient-dense snacks made from discarded vegetable peels to natural ingredients like citrus fiber, were one trend covering the Expo floor. Other companies showcased their simple and familiar ingredient lists, as more consumers are focusing on paying attention to product labels and the awareness of artificial ingredients. Unique global flavors were also on display and popular spots for sampling throughout the Expo. See More.
Autonomous Micro-Retail Stores Give C-Stores A New Revenue Stream
Technology company, Juxta, revealed a portable, autonomous micro store called the Nomad. These self-contained, unstaffed stores utilize shelf sensors and an AI computer vision system to track shopper purchases. Customers approach a checkout screen when exiting the store which shows what items they’ve selected. Nomads can fit 500 to 650 SKUs and traffic inside is limited to between six and eight people. Learn More.
Instacart Goes Public
On Tuesday, Instacart went public on Nasdaq with its shares priced at $30. The grocery delivery app company currently has a $10 billion valuation. As stated in the Morning Brew article, in 2020, investors valued Instacart at $39 billion, its highest valuation and roughly $29 billion more than what it’s expected to be worth to investors today. For the last five quarters, Instacart has turned a profit, but being profitable and valuable are two different entities. Read More.
Pop Culture Prompts Food Innovation
As Dunkin’ fans became obsessed over Ben Affleck’s 2023 Super Bowl ad, they’ll have more to cheer about with the beverage giant’s latest product launch and promotion. Ben Affleck and Ice Spice teamed up to reveal Dunkin’s new Ice Spice Munchkins Drink, featuring Pumpkin Munchkins and Frozen Dunkin’ Coffee blended together. This popular duo debuted their latest commercial at the MTV Video Music Awards and their fun, lighthearted antics will continue to infiltrate both traditional and social media throughout pumpkin spice season.
Can food inspire fashion? The Museum at FIT is counting on it with its new exhibit called “Food & Fashion” which features over 80 food-inspired garments and accessories. Attendees will learn how food culture has impacted fashion over the years and observe some innovative wearables – from hamburger-themed handbags to PB&J-inspired sandwich hats.
Stop back each Friday for more weekly highlights!
