Tipsheet: Target +$2B w/Black-owned Biz | Teen Spend Ticks Up | WM Poaches Disney
Target says it will spend more than $2 billion with Black-owned businesses by 2025 at CNBC. “…the retailer said it will more actively seek out advertising firms, suppliers, construction companies and other kinds of businesses that are Black-owned. It said it will create a program called Forward Founders for early-stage start-ups led by Black entrepreneurs to help them develop, test and scale products to sell at mass retailers like Target.” Read more
A ‘System of Espionage’ Reigned at Ikea, a French Prosecutor Charges at NY Times. “Ikea came to France touting an image as a homespun retailer with humanist values,” Ms. Tabardel told the judges before a packed courtroom last week, as the trial wrapped up. Instead, she said, Ikea France illegally surveilled at least 400 people and used the information to its advantage.” Read more
Amazon comes out in support of Biden’s infrastructure plans – including tax increases at Fox Business. “We’re supportive of a rise in the corporate tax rate,” Bezos said. “We look forward to Congress and the Administration coming together to find the right, balanced solution that maintains or enhances U.S. competitiveness.” Read more
Walmart hires Disney in-house agency leader as first Chief Creative Officer at Ad Age. “Walmart is adding some high-profile hires to its marketing team, including bringing in the former head of Disney Parks’ in-house creative agency as its first chief creative officer. The retail giant also lured a top Under Armour’ marketing exec to head category marketing.” Ad Age subs.
Lowe’s Canada Launches Pick-Up Locker Service at Select Lowe’s Locations “48 Lowe’s stores will offer this new contactless pick-up option by the end of April.” Press release
Amazon Is the Target of Small-Business Antitrust Campaign at Wall Street Journal. “The effort is being launched Tuesday by trade groups that represent small hardware stores, office suppliers, booksellers, grocers and others, along with business groups from 12 cities, organizers say. Merchants plan to push their congressional representatives for stricter antitrust laws and tougher enforcement of existing ones.” WSJ subs.
Signet Jewelers Acquires Rocksbox, the Leading Jewelry Rental Subscription Platform Press release
New Seasons Market, a chain of 19 stores primarily based in Oregon, and New Leaf Community Markets, its California-based subsidiary, will no longer sell standard single-use bottled water at Fast Company. Read more
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UK Deliveroo riders strike over pay, gig work condition at AP News. “The “success they claim to have had during the pandemic was built on our backs,” said Wave Roberts, a Deliveroo rider in Reading and chair of the union’s couriers branch. “It’s not sustainable. It’s got to the point where they’ve hired too many people. They’ve lowered the fees too much.” Read more
Teen spending is slowly ticking up from a two-decade low, according to Piper Sandler’s 41st biannual “Taking Stock with Teens” report at CNBC. “Teens plan to spend about $2,165 this year…That’s still down about 5% from a year earlier, but up 1% from last fall, when teen spending hit a low not seen in two decades…girls are leading the recovery in teen spending, the survey found.” Read more
Nordstrom Expands BEAUTYCYCLE to Canada “Nordstrom aims to take back 100 tons of hard-to-recycle beauty packaging by 2025…Many local recycling centres do not accept beauty materials and packaging, as they often contain a mix of materials that are not locally recyclable.” Press release
UPS agrees to buy electric vertical aircraft to speed up package delivery in small markets at CNBC. “You can see a future where it’s carrying, let’s say 1,000 pounds, 1,500 pounds to rural hospitals,” and landing on a helipad instead of an airport, UPS’ Bala Ganesh said.” Read more
Amazon is snapping up disused shopping malls and turning them into fulfillment centers at NBC News. “In March, Amazon won approval to turn a mall in Baton Rouge, Louisiana, into a 3.4 million-square-foot distribution building, and a mall in Knoxville, Tennessee, into a 220,000-square-foot distribution center. In December, the local planning board in Worcester, Massachusetts, signed off on Amazon’s request to convert the city’s Greendale Mall into a 121,000-square-foot distribution center.” Read more
Tipsheet Extra Stories
Florida Gov. blasts CBS’ ’60 Minutes’ for ‘deceptively edited’ Publix-COVID clip
Former Amazon exec gives Chinese firms a tool to fight cyber threats
Amazon union vote: Here’s how the ballots will be counted this week
eBay’s app will soon be able to scan Pokémon cards to sell them more easily
Ikea and Sonos start to tease the next products they’ve collaborated on
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