Retail Brew // Morning Brew // Update

Hello, it’s Thursday, or what will be remembered as the day Wendy’s started offering $1 Frostys. For the last six weeks of summer, not only can shoppers enjoy any Frosty for a buck, but there will be no limit to how many they can order. We’d start lining up now.

In today’s edition:

—Alex Vuocolo, Jeena Sharma

STORES

Face first

Weiquan Lin/Getty Images

An option to “pay with your face” could be coming soon to a retailer near you. JP Morgan Payments is expanding its partnership with PopID to offer its in-store biometric payment option to pilot merchants across the US.

The technology allows customers to process transactions by scanning their face rather than swiping a credit card or holding up their phone. Customers gain access to the platform by signing up and providing a selfie, which is securely stored in PopID’s database, creating a unique digital key connected to their bank account.

“This is a giant step forward in helping our clients reimagine the entire retail experience for their customers and bringing best-in-class biometrics payments solutions to the market,” Jean-Marc Thienpont, managing director of omnichannel and biometric solutions at JP Morgan Payments, said in a statement.

PopID’s in-house research says its platform cuts down on checkout times by 90 seconds per transaction, and can boost ticket size by 4%.

Keep reading here.—AV

FROM THE CREW

An inside look at high-net-worth finance

Join My First Million host Sam Parr as he interviews high-net-worth guests on his brand-new podcast MoneyWise. In each episode, Sam digs into the personal finances and lifestyles of his guests, getting radically transparent about things like burn rates, portfolios, and spending habits. Listen now and learn the financial secrets of some of the most successful entrepreneurs in the world.

TECH

Beyond the hype

Finkavenue/Getty Images

A new index measuring how thoroughly retailers have embedded AI into their operations placed Amazon, Walmart, and Stitch Fix at the top of the list.

The 2024 Retail AI Index is a project of Lily AI, a platform that specializes in providing AI solutions to retailers, and is based on an analysis of public first-party, and third-party data sources covering a range of benchmarks, from the number of AI-related job postings to press coverage of AI-focused initiatives.

“AI is becoming table stakes for retailers who want to stay competitive,” Lily AI CEO Purva Gupta said in a statement. “Not surprisingly, the biggest of the bigs—Amazon and Walmart—have the resources to invest in AI extensively.”

Here’s the full top 10 list from the index:

Amazon
Walmart
Stitch Fix
eBay
Wayfair
Sam’s Club
Target
The Home Depot
Macy’s
Nike

Keep reading here.—AV

MARKETING

Dog days

Dolce & Gabbana

If you think you’ve seen everything, think again. Dolce & Gabbana is launching a perfume for dogs. And yes, we’re being serious.

Named after Dolce & Gabbana co-founder Domenico Dolce’s dog, Fefé, the alcohol-free scented mist for dogs is at the center of the Italian luxury retailer’s new promotional campaign film featuring different breeds of dogs. “I am delicate, authentic, charismatic, sensitive, enigmatic, rebel, fresh, irresistible, clean. ’Cause I’m not just a dog, I’m Fefé,” it says.

Keep reading here.—JS

TOGETHER WITH WALMART CONNECT

Someone has to say it. It’s August, marketers, and that means back-to-school season isn’t far away. This free report from Walmart Connect has exclusive insights into their customer behavior. You’ll find tips on how to price and promote products to help boost your sales and inform your strategy. Get the guide.

SWAPPING SKUS

Today’s top retail reads.

The departed: Once the darling of commercial real estate, department stores are quickly becoming a thing of the past as more consumers favor specialty and discount stores. (the Wall Street Journal)

Silver linings: While summer has pushed shoppers in the UK to buy more clothes and beauty products, they’re still shying away from big purchases. (the Guardian)

Looking east: While the luxury as a market continues to struggle, Japan may offer a ray of hope for retailers. (Vogue Business)

JOBS

Forget generic job searches. CollabWORK leverages the power of community to connect you with relevant opportunities in Slack channels, Discord servers, and newsletters like Retail Brew. Land your dream job through the power of your network with CollabWORK.

NUMBERS GAME

The numbers you need to know. Ever wondered what kind of socks Gen Z prefers? Well, now you don’t have to. YouGov surveyed 5,015 US adults to determine sock preferences across generations.

41% of Americans, for instance, prefer ankle socks—the most popular choice.
Meanwhile, 15% of those surveyed said they liked the “barely there” no-show socks, while only 3% went for knee-high socks.
Of course, there were also those (5%) who preferred no socks at all (yes, they’re out there).

While clearly, short-ish socks seem to come out as the winner here, tall socks also have a place in Gen Z’s hearts.

According to the survey, tall socks are a lot more popular with Gen Z than millennials; 41% and 23% prefer them, respectively.

There’s also a gender divide among the tall socks fan club: 40% of men mainly favored tall socks versus 21% of women.

Anyway, back to Gen Z, which is also the generation that’s bringing back socks with sandals.

While only 18% of American adults said they went for the socks-sandals combo, 25% of Gen Z adults preferred the look.

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