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- 🛍 DTC Daily - Friday, Mar 24
🛍 DTC Daily - Friday, Mar 24
Today's DTC news, tips, & tools you need to know
👁 Instagram ads will now show up in search
📰 TL;DR - There are some big changes for Instagram needs you need to know. First, ads will now show up in search results, based on the keywords used. That means if you have an ad for, say, jewelry, and someone is searching for that, your ad could pop up. It looks like it's only in certain locations for now, but Instagram said it would roll it out globally in the coming months. The other neat thing is the addition of Reminder Ads that let users opt into a notification for events.
💡 Insight - This is great news for anyone who advertises on Instagram, and it makes sense that Meta wants to beef up its ad placements to compete with other platforms. This seems like a win for e-commerce brands especially, considering how people use the app to look up trends or getting style or shopping inspo. The Reminder Ads feature will also be a good use for sales or product launches.
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❄️ A not-so-hot Temu review
📰 TL;DR - A lot of people had a wary eye on Temu, the Boston-based ultracheap e-commerce app, and are wondering if it's a threat. Well, this review suggests not so much. A Yahoo Finance reporter took the app for a spin and found that the items, while cheap, were slow to ship, and rather unimpressive, and he was also assaulted with 30 (!) marketing emails.
💡 Insight - Like Wish before it, Temu has a certain novelty factor. And not just because a lot of the items are novelties. Super cheap prices and free shipping are attractive, but it's hard to imagine people replacing much of their regular shopping with Temu. A neat thing though is the writer got a $5 coupon for his items being late, which is a smart feature. And if you're wondering how many marketing emails is too many, 30 is a good place to start.
🍜 Momofuku Goods raises some major $$$
📰 TL;DR - Momofuku Goods, the food DTC arm of the restaurant group from chef David Chang, raised a cool $17.5 million in Series A funding. The brand sells pantry items that tie in with the restaurant's style of cuisine, such as dried noodle kits, chili crisp, sauces, and salts. The funding was led by the same group that's invested in other food DTC brands like Magic Spoon cereal and Ripple plant-based milk.
💡 Insight - I actually Momofuku Goods pop up as an Instagram ad last month and bought some noodles. I can confirm they're quite good! There also seems to be a hunger right now for globally-inspired pantry items — just look at the success and recent funding for Fly By Jing. And, since I love talking about subscriptions, Momofuku Goods does offer subscription bundles.
🔪 Walmart slashes jobs at e-commerce fulfillment centers
📰 TL;DR - Walmart is laying off hundreds of workers from e-commerce fulfillment centers across the US. This comes after worker cuts at Amazon and an announcement of cost cuts at Target. That's on top of cuts we've seen at e-commerce-focussed brands like Wayfair, Peloton, and Glossier. Yikes!
💡 Insight - I mean, it's not great, is it. We're seeing a shift in spending due to inflation, and a shift back to retail post-pandemic, and both are hitting e-commerce hard. We've also seen DTC brands either opening wholesale channels or shifting their priorities to profitability for 2023. All that said though, online sales are still growing, just slower. So adjust your expectations and strategies accordingly.
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