Consumer Products Emergency Update
I promise I never want to write a newsletter like this again.
TLDR: this is for anyone in the CPG space. If you’re not in consumer goods, ignore me till tomorrow’s call for pitches!
If you read yesterday’s newsletter, you know I warned of a major emergency in the consumer products world. I highlighted specific categories like athleisure, outdoor living and entertainment products, and a few others. Normally I reserve my Affiliate Tribe newsletters for Thursdays (and I almost never open them to the masses), but we’re about to have such a chaotic shitshow in the CPG and media space that I wanted to open the main points to everyone.
Specific details and data will be reserved for our close-knit group in an effort to keep you ahead of the curve. It’s going to be a really nasty curve.
So here are the highlights of what I’m covering below. Will go in-depth on each in a minute.
I was waiting till the FOMC meeting announcement at 2 PM today to write this, because I was hoping for the glimmer of a 50 bp hike rather than the 75 we were hit with.
Walmart and Target are going to aggressively attack the business models of every medium-sized CPG retailer you can imagine. If you’re selling athleisure, patio furniture, camping gear, sports equipment, etc you probably don’t stand a chance and they’re coming for you hot and heavy in the next 60 days. They’ll be selling products at losses with intention. Will explain more, but if you rep $50 leggings or $300 outdoor dining chairs — you’re close to screwed. I have a plan for you though, but you need to act yesterday.
Over 400 media members and support staff were given notices yesterday and early today. Some at major mags, some at content writing suppliers, and others at local media outlets. Expect the number to swell in the coming weeks and get ahead of it. That means PR is going to get ugly by the end of the summer.
If you’re not in CPG, you have a minute to breathe and recalibrate your plans. Ignore this email, I’ll be back to regular queries and whatnot tomorrow. Read on if you’re an Affiliate Tribe member and need the details/plan ahead: