This week’s marketing winners, losers and newsmakers.
Marketing winners and losers of the week
Winners
Trader Joe’s: The grocery store with a cult following said it will be restocking its mini Trader Joe’s-branded tote bags, which went viral and quickly sold out when they were last available earlier this year. At that time, the $2.99 totes were reselling for hundreds of dollars on secondary sites. A limited quantity of the bags will be released on Sept. 18.
Stonyfield Organic: The yogurt brand announced its “Toxic Free Election Challenge” this week, encouraging U.S. consumers to try to avoid social media for the month before the 2024 presidential election on Nov. 5. Stonyfield will give 100 consumers $1,000 each for completing the challenge, which the yogurt maker is ironically promoting on its own social media channels of Instagram, Facebook and TikTok.
Three-quarters of U.S. consumers say social media is now their primary source for news and updates on the presidential election; two-thirds say social media shapes their opinions of the election, according to a recent survey from Sprout Social, which analyzes social trends.
“Beetlejuice Beetlejuice”: The well-timed debut of the 1988 “Beetlejuice” sequel scared up its share of box office revenue, raking in $110 million to become the second-biggest September opening ever, after “It” seven years ago. The favorable opening is good news for brands, which have lined up to collaborate and cash in on the growing popularity of spooky season.
Read more: Gen Z’s Halloween obsession boosts brand marketing
Plus: ‘Beetlejuice Beetlejuice’ got marketing tips ‘Barbie’
And: Movie theaters market to the TikTok generation
Losers
Big Lots: The discounter filed for Chapter 11 bankruptcy protection and announced more store closures, as it prepares for a takeover sale to Nexus Capital Management. As part of the preparation, 57-year-old Big Lots will shutter some 300 of its 1,400 stores.
GameStop: Sales fell again at the beleaguered retailer, with no meme stock selling frenzy savior in sight. GameStop reported that its fiscal second-quarter revenue fell 31% to $798.3 million and it plans to close more stores as consumers gravitate to online game buying.
Keurig Dr Pepper: The beverage company agreed to pay a $1.5 million penalty after the U.S. Securities and Exchange Commission found that it made inaccurate statements regarding the recyclability of its K-Cup beverage pods. The commission reported that Keurig did not disclose that two of the largest recycling companies in the U.S. expressed “significant concerns” related to the feasibility of recycling the pods. Keurig Dr Pepper is developing compostable single-use pods, The Wall Street Journal has reported.
Quote of the week
“Getting a job on the brand side is much easier than before. It used to be virtually impossible, but so many people have made the transition. I think the main pathway was through tech, when they [started] building armies in-house.” —Serena Wolf, industry headhunter and founder of recruiting firm Wolf Creative Co., on in-house agencies recruiting talent.
Read more: Agency vs. in-house roles—what to know before making a change
Social post of the week
Number of the week
34%: The share of Americans who expect to be in the market for a car in the next two years who plan to buy an EV, down from 48% last year, according to the EY Mobility Consumer Index released Sept. 9.
On the move
Macy’s hired Jason Holzman as senior VP, creative and production. He was most recently senior VP and head of creative for Peacock at NBCUniversal.