Jump Into the Story
Pictured: individual portraits from attendees of our Art Basel launch event, in the style of their own Archetype.
“I want to create the best work of our lives” is what our Creative Director, Jesse Tyler, said in an Instagram post last year. This has become a mantra for us in 2022, as we built and shipped four new content properties.
Archetypes is the next waypoint along that journey, and this is truly the best work of our lives.
While we have emptied ourselves out over these past four months creating something truly remarkable for the eCommerce industry; we realized that the story of Commerce isn’t complete without you — the customer.
So it’s time for you to enter the story.
Are you The Ruler, who won’t hesitate to make decisions, regardless of what others think? Or are you The Lover, a seeker of beauty and grace who is full of conviction?
Find out for yourself.
Take our short quiz to discover your Archetype.
— Phillip
P.S. after you’ve discovered your Archetype, you can read more about it in our 240-page coffee table book. Buy the book as a gift — for yourself, or for that special deep thinker in your life. Free shipping for orders of $150 or more.
A Lot Going On. Amazon is launching its own in-app TikTok-esque shopping feed, called Inspire, which supports video and photos. They are also planning to give exhausted delivery drivers $5, if customers say ““Alexa, thank my driver,” while at the same time getting sued for allegedly stealing tips from delivery drivers.
Yeah, That’s the One. One, yes that’s the name, is a fintech startup backed by Walmart is planning to launch a new buy now, pay later service as early as next year. One might be a fintech newcomer, but it was founded by Goldman Sachs veterans. Consumer credit rose 7% heading into October as BNPL becomes more popular with the general consumer, though it is on a downward trend from its peak in March.
One comes at the perfect time as consumers rush into more credit solutions. Black Friday saw BNPL orders shoot up 78%. Anecdotally, Walmart’s household penetration with Walmart+ is evident in more suburban upper-middle income neighborhoods; presumably due to rising inflation and grocery costs, and a premier partnership with American Express.
Inventory is Up. Lululemon has increased its inventory by 85% over last year, but does not have plans for mega markdowns. Rather, the company wants to build its inventory. And though it reported better than expected quarterly sales in October, shares still fell 7% after the report on fears that growth may slow in the year ahead.
COO Changeup. Sweetgreen’s COO, Chris Carr, will be leaving the chain in March, citing personal reasons. The company’s SVP of operations, Stephanie Traut is set take over, though Sweetgreen hasn’t stated whether it’s permanent or interim.
Our Take: According to Restaurant Dive: “Though Sweetgreen told news outlets it was profitable in 2018, according to Axios, the company has not achieved profitability according to GAAP measure or on an EBITDA basis.” Sweetgreen has lost nearly $215M in the first three quarters of 2022.
This is the first of many, many, leadership changes that will need to be made to bring the high-end salad chain into profitability. As we discussed in October, the shift from growth to profitability is well underway. Sweetgreen’s inability to turn a profit in its first 375 days as a publicly-traded company will not fare well into 2023. Leadership changes give a business the opportunity to make more radical changes.
Athletic Opportunities. Pickleball has been on the rise for the past few years, but over this past year, companies started considering it in their marketing efforts. Anheuser-Busch bought a Major League Pickleball team, while Hyundai and Carvana have jumped into sponsorships. The sport is becoming a real opportunity space for brands.
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