International Retailers We deliver
Those retailers puzzling their poor heads over what to do about their social media strategy need look no further than grocery start-up Weee!, which has one, and in the words of our 11-year-old daughter it is “fire”. To make online food shopping more fun and immersive it is showcasing videos and sharing stories behind the Asian and Hispanic ingredients that it sells. Having hired “Crazy Rich Asians” director Jon M. Chu as its chief creative officer earlier this year, the start-up gets punters to share what they order on social media or post videos of favourite foods and recipes through a TikTok-like feature in its app. Weee! (will the exclamation mark) sells more than 10,000 products, from kimchi and frozen shrimp dumplings to staples like bread and milk. Another grocery delivery service is not doing as well: the Gorillas app, which promises to deliver goods in as quickly as 10 minutes, is laying off half of its office staff, and tightening its focus on the five markets that account for 90% of its revenue: the UK, US, Germany, France, and the Netherlands. Moving on, Walmart quarterlies came in this week, and something of a bloodbath with profits way down, as their lower-end shoppers, hit by inflation, cut corners, leave items in their online baskets, simply walk out of stores, and trade down to private label.
Comment: The world has entered a deeply uncertain economic ambit the impacts of which are making themselves felt quite quickly.