HomePage News presents InSight+, an exclusive curator’s perspective on the creation and presentation of the HomePage News InSight Trend Index 2023/24.

The InSight Trend Index is a first-of-its-kind, comprehensive digital report examining emerging and enduring home and housewares trends through products and innovations that embody them. The InSight team explored influential industry trade shows in the U.S. and abroad to identify global trends driving growth and expansion across home and housewares categories.

The trend index features nine portfolios ranging from at-home entertaining and outdoor living to trends in material and color, culminating with a look at the encompassing wellness trend. The portfolios represent how consumers are living, the evolution of their lives and homes, and what we found to be the roots of ongoing consumer lifestyles that drive trends. 

This special video presentation features InSight report curator author and industry trend analyst Tom Mirabile, founder of Springboard Futures, and report designer Dawn Evans, director of marketing for the International Housewares Association. Mirabile and Evans will take you behind the curtain to show how each of the nine InSight trend portfolios came into view. They explain why now a pivotal time for such a vivid exploration of trends in lifestyle, design, function and materials that drive today’s innovations; and how the HomePage News InSight Trend Index can be used as a practical tool for manufacturers and retailers cultivating the next growth opportunities for home and housewares.

The pandemic, like few periods in the history of the home and housewares business, illuminated the importance of trend — and what matters most to consumers. Post-pandemic, amid new market challenges, the business can’t be simply transactional. Success requires distinguishing from competitors and communicating in the clearest terms about your products, your brands and your relevance. In tighter market conditions, what now might be about taking market share will soon need to be about driving growth across an industry. How supplier and retailer brands tell their stories will depend on how they read their markets. The perspective will be different from business. But these are the new rules of engagement.

The HomePage News Trend Index applies years of expertise and analysis to understand where the consumer hot spots are… and where they’re headed.

It connects and synchronizes teams that run a business. It illustrates how they can think, create and execute as a team. Product development, marketing and merchandising can’t occur in a tunnel leading to so-called magic price points. Consider the InSight Trend Index a model for how intuitive, informed and industrious lifestyle product creation and selection can build a sustainable lifestyle business. And how that requires a collaborative team effort. 

The HomePage New InSight Trend Index is a collaborative team effort by Mirabile of Springboard Futures, Evans of IHA and the entire HomePage News team. It is also a collaboration with and for the home and housewares industry. In a way, our roles in bringing this unprecedented trend report to the market stand as a metaphor for how retailers should shop trade shows… to look for more than products… to look for consumer-driven experiences and solutions.

With help from today’s deeper perspective on why trends matter more than ever and how that fueled the InSight Trend Index, we encourage you to take another look at each of the report’s trend portfolios. See how it all adds up to provide what we hope is a truly inspiring view on how to curate home and housewares success.

The HomePage News Insight Trend Index will evolve in 2024 to support the next wave of trend-activating home and housewares products. Future installments of the report showcasing evolving and new trend portfolios will showcase added marketplace intelligence and data to provide greater depth to the trends discovered and explored by InSight and the forces that drive and sustain them.

InSight, is, indeed, a powerful tool. 

— Peter Giannetti, Editor-in-Chief

View All InSight Portfolios

Despite tighter consumer spending, Kroger stated that the flexibility of its business model helped the company navigate the third quarter when it topped a Wall Street estimate on earnings and revenue.

An analyst consensus estimate published by Yahoo Finance anticipated adjusted diluted earnings per share of 91 cents and revenues of $33.88 billion.

Identical store sales without the effect of fuel price fluctuations slipped 0.6% in the quarter year over year. The company asserted that idents without fuel would have grown 1% in the period if not for the reduction in pharmacy sales from the termination of Kroger’s agreement with Express Scripts effective December 31, 2022.

Sales were $33.96 billion versus $34.2 billion in the year-previous quarter. Operating profit was $912 million versus $841 million in the year-before period, Kroger noted, while adjusted operating profit was $1.02 billion versus $1.09 billion.

In announcing the financial results, company chairman and CEO Rodney McMullen said, “Kroger’s third-quarter results highlight the strength and diversity of our business model in a challenged operating environment, as strong fuel performance and growth in our alternative profit businesses supported continued adjusted net earnings per diluted share growth. As consumer spending tightens, we are focused on providing customers with exceptional value. By maintaining our long-term commitment to lower prices, personalized promotions and rewards, we are growing households and increasing loyalty, positioning Kroger for sustainable future growth. We appreciate our associates and continue to invest in wages, benefits and training, which is resulting in continued improvements in our customer experience.”  

Big Lots, still trying to build traction on its turnaround, posted a third-quarter comp decline even as earnings and revenue exceeded or met a Wall Street estimate.

The company also announced the appointment of former Burlington Stores executive Kristen Cox to senior vice president, chief stores officer. Former Big Lots executive Seth Marks returns to the retailer in the newly established role of senior vice president, extreme value sourcing. 

Net income for Big Lots was $4.7 million, or 16 cents per diluted share, versus a net loss of $103 million, or $3.56 per diluted share, in the year-earlier period, the company reported. Adjusted for one-time events, net loss was $127.9 million or $4.38 per diluted share, versus net loss of $86.7 million, or $2.99 per diluted share, in the year-prior quarter.

An analyst consensus estimate published by Yahoo Finance called for a loss of $4.66 per diluted share and revenues of $1.03 billion.

Comparable sales tumbled 13.2%. Net sales were $1.03 billion versus $1.2 billion in the year-before quarter.

Operating profit was $19.7 million versus an operating loss of $130.8 million in the year-previous period.  Adjusted operating loss was $113.9 million versus $109.1 million. 

Bruce Thorn, Big Lots president and CEO, said home categories continue to struggle especially given consumer wariness about big-ticket purchases. He noted Big Lots had seen some sequential improvement in seasonal items. The company also has been able to rebuild its furnishings assortment after last year’s sudden closure of United Furniture, a key vendor.

In announcing the financial results, Thorn said, “Although the environment remains challenging, we continued to make significant progress in turning around our business.  Our key strategic actions are building momentum, and we continue to play offense with our efforts to deliver incredible bargains and communicate unmistakable value. As a result, we are now on track to deliver an adjusted Q4 operating result ahead of last year, which would mark the first quarter of year-over-year improvement in nearly three years, and we expect quarterly year-over-year improvements to continue through 2024.”

As for third-quarter results, Thorn said, “We were able to deliver on or exceed our beginning-of-quarter guidance on all key metrics. We posted a sequential improvement in comp sales, significant year-over-year improvement in gross margin rate, and adjusted SG&A well below last year despite absorbing additional expense related to the recent sale/leaseback of our California distribution center and 23 owned stores. We believe the improvements in Q3 were driven by the five key actions that underlie our strategy, which are to own bargains, communicate unmistakable value, increase store relevance, win with omnichannel and drive productivity.

“Additionally, we are on track to achieve over $100 million of SG&A cost savings prior to Project Springboard benefits for the year,” Thorn continued. “Project Springboard is off to a strong start and on track to deliver $200 million of bottom-line benefits, spanning gross margin and SG&A, of which we expect a high proportion to be realized on a run-rate basis by the end of 2024. To support our ongoing turnaround, our efforts to aggressively manage costs, inventory and capital expenditures, as well as monetize our assets with completion of a $306 million sale/leaseback in the quarter, have allowed us to significantly strengthen our balance sheet. Our ongoing efforts are providing us with ample liquidity to weather the macroeconomic challenges, even if they are prolonged.” 

Cox will oversee the development and implementation of operational strategies to drive sales, improve margins and enhance customer service across all stores, filling the role left vacant by the retirement of Nick Padovano earlier this year, Big Lots reported. Marks rejoins Big Lots from Channel Control Merchants, for which he most recently served as the chief merchandising officer. CCM bills itself as a reverse logistics retailer selling products through a network of physical stores located across the Southeast, Texas and Canada.

HomePage News presents a Year in Review, a gallery of key product introductions from 2023. This gallery looks at kitchen tools, food storage and cutlery.

Scroll through the slideshow below to view:

Compiled by Elizabeth Dempsey, Contributing Editor.

After enduring pressure from an investor and ousting CEO Jonathan Johnson, Beyond, the former Overstock now operating online as bedbathandbeyond.com, announced Camping World chief Marcus Lemonis will join Allison Abraham as co-chairs of the company board of directors.

In response to the move, Beyond stock rallied from $19.06 a share on November 30 to peak at $19.40 by mid-morning then falling back to $18.95 by noon. Beyond stock, then still designated Overstock before a recent name change, hit a high for the year of $37.86 on August 2, according to Yahoo Finance. On August 1, the operation transitioned from overstock.com to bedbathandbeyond.com online in the United States after doing so earlier in Canada.

Lemonis was the choice of hedge fund JAT Capital Management, which holds a 9.6% stake in the company, to run Overstock, a preference it expressed to the board in a letter on November 2. However, Lemonis, who runs the outdoor recreational company Camping World and who for several seasons hosted the CNBC show “The Profit,” told CNBC in an interview that he wasn’t interested in being CEO and had joined the  Overstock board in October expecting to be named executive chairman.

Abraham became chair of Overstock in 2017 after having served on the board since 2002, as cited in the Beyond investor relations site.

Johnson steered Overstock through the acquisition of Bed Bath & Beyond’s intellectual property rights, which occurred in June, and the August 1 renaming of the overstock.com site in the United States to bedbathandbeyond.com, which occurred earlier in Canada. In a company conference call, Johnson laid out a vision for Beyond which included adding more retail websites including a closeout specialty business that would operate similarly to the original overstock.com. In recent years, Overstock reoriented itself from a closeout business to one offering first-line goods, then shifted from being a general merchandise to a home specialist retailer early this year. He departed the company on the day, November 6, when the corporate identity flipped from Overstock to Beyond. Not long before, JAT sent a letter to the company board asking it to revamp management and appoint Lemonis to an elevated position, preferably as executive chairman.

“I am intensely focused on working with the management team to drive financial results, reduce operating costs and review all performing and non-performing assets,” Lemonis stated in announcing the change in board structure. “While the team has begun taking decisive actions to restructure the company for a better future, I am eager for what lies ahead in the months to come.”

Abraham noted, “Marcus brings a wealth of experience as a public company chairman and CEO, with powerful operating knowledge in retail, branding and customer engagement. Both of us, along with the rest of the board and management team, are unified in our overarching goals of driving enhanced value for shareholders.”

Walmart is debuting “Add to Heart,” said by the retailer to be a first-of-its-kind shoppable, social-media RomCom series featuring holiday gift items.

Walmart said it regards the 23-part, shoppable series initiatives as an opportunity to create a connection with consumers. Walmart will release “Add to Heart” on TikTok, Roku and YouTube beginning December 2. The remainder of the series drops on December 5 and December 8. “Add to Heart” will also appear on Walmart’s owned social channels.

Almost 60% of Americans say they want to purchase via social media this year, Walmart noted, citing Mintel research. Then, Americans rank watching holiday movies over decorating the tree and baking cookies as favorite holiday traditions, the retailer reported, referencing research commissioned by streaming media platform Plex.

Products available for purchase through the episodes include furniture and holiday décor, as well as the fashions worn by the cast. Almost everything in “Add to Heart” was sourced from Walmart, the company noted, and customers will have the opportunity to shop more than 330 products through the series. With TikTok’s Video Shopping Ads and Roku’s OK to Text feature, customers will be able to shop at home or on the go. Roku users can access the series via Walmart’s first shoppable branded entertainment playlist and a marquee ad on the Roku home screen.

The series features New York designer Jessica as she returns to her hometown for the holidays. After losing her luggage while traveling, she visits her local Walmart, where she bumps into her old flame, Javi. Between the town festivities, decorating and shopping, they start to rekindle their relationship.

“We know gifting and curling up to watch a favorite Christmas movie are part of so many families’ traditions,” said William White, chief marketing officer, Walmart U.S. “So, what better time to launch an innovative, first-of-its-kind shoppable series? ‘Add to Heart’ is a fun, unique way for our customers to be entertained while shopping for the great deals on top brands that they expect from Walmart. We hope they enjoy it and the amazing gifts they order throughout.”

The Cookware & Bakeware Alliance (CBA) has updated the membership levels available to industry participants.

The CBA now offers four distinct membership classifications: general, associate, supplier and retailer. These classifications reflect the diverse roles and contributions of companies within the cookware and bakeware market in the United States and Canada, according to Fran Groesbeck, CBA managing director.

General membership in the CBA is open to all persons, firms or corporations engaged in the manufacture for sale of cooking and/or baking utensils or accessories. Associate membership is available to those who have established a presence in the market but have not yet met all the requirements of CBA general membership.

Supplier membership is open to entities engaged in supplying or supporting the manufacture of cooking and/or baking utensils or accessories. Retailer membership is available to those engaged in the retail sale of cookware and/or bakeware.

All CBA members, regardless of their category, must demonstrate a long-term, primary commitment to the industry, reliably service warranties, exhibit excellence in manufacturing and innovation, ensure product quality consistent with price points, prioritize the safety and welfare of employees, be environmentally conscious, and be devoted to consumer protection, Groesbeck said.

Kris Malkoski, Newell Brands’ CEO, Learning & Development & Commercial Head EMEA & Asia of Newell Brands and former CBA board member, said, “(Newell) sees the Cookware & Bakeware Alliance as a critical voice to ensure quality, integrity, and consumer safety for our end-users. Being a part of the CBA ensures that we receive timely global knowledge and communication, that we are part of advocacy and education issues that affect our industry, and that we can meet and engage with other manufacturers and retailers regarding cookware and bakeware topics.”

For more information about the Cookware & Bakeware Alliance, visit www.cookwareandbakeware.org.

Adobe reported the period between Thanksgiving and Cyber Monday, characterized as Cyber Week by the business services firm, generated $38 billion overall, up 7.8% year over year.

Cyber Monday, meanwhile, saw consumers spend a total of $12.4 billion, up 9.6% year over year and surpassing Adobe’s initial projection.

In the peak hour on Cyber Monday, 10 p.m. to 11 p.m. Eastern time, consumers spent $15.7 million every minute, according to Adobe. Cyber Monday was the biggest online shopping day of all time, with many consumers grabbing major discounts in categories such as electronics, peaking at 31% off list price; toys, 27% off list price; apparel, 23% off list price; furniture 21% off list price; and appliances, 18% off list price.

Cyber Monday online sales for apparel increased by 189% compared to an average day in October 2023. In other categories, appliances grew by 166%, toys by 140%, furniture by 129%, electronics by 103%, jewelry by 99% and sporting goods by 95%. Top sellers on Cyber Monday included skincare gift sets, small kitchen appliances, televisions, smart watches, activity trackers and Bluetooth headphones, in addition to various toy and electronic items, according to Adobe.

Adobe reported Cyber Week was bolstered by record spending online during Thanksgiving, $5.6 billion, up 5.5% from the 2022 period; Black Friday, $9.8 billion, up 7.5%; and over the weekend, $10.3 billion, up 7.7%.

From November 1 to Nov. 27, Adobe asserted, consumers have spent $109.3 billion online, up 7.3% year over year, with 60% of spending driven by five categories including electronics, $21.7 billion; apparel, $19.2 billion; furniture, $14.7 billion;  grocery, $6.8 billion; and toys, $3.1 billion. Adobe expects the full holiday season, designated as November 1 to December 31, to hit $221.8 billion, up 4.8% from the year-earlier period. With e-commerce growth continuing to outpace in-store shopping, Adobe expects consumers to spend $1 of every $5 online this holiday season.

“The 2023 holiday shopping season began with a lot of uncertainty, as consumers shifted their spending to services while dealing with rising costs across different facets of their lives,” said Vivek Pandya, lead analyst, Adobe Digital Insights. “The record online spending across Cyber Week, however, shows the impact that discounts can have on consumer demand, especially with quality products that drove a lot of impulse shopping.”

Dollar Tree fell short of Wall Street estimates for revenues and earnings in the third quarter, but the retailer posted solid comp store sales and pointed to market share gains in a conference call.

Net income was $212 million, or 97 cents per diluted share, versus $266.9 million, or $1.20 per diluted share, in the year-before quarter.

A Yahoo Finance-published analyst consensus estimate called for earnings per diluted share of $1.01 and revenues of $7.4 billion

Comparable sales were up 3.9% with Dollar Tree comps up 5.4% and Family Dollar comps up 2%, the company reported.

Net sales were $7.31 billion and other revenue was $5.7 billion, or $7.31 billion after rounding, versus net sales of $6.94 billion and other revenue was $3.3 million for total revenues of $6.94 billion after rounding in the year-earlier quarter. Operating income was $301.7 million versus $381.3 million in the year-prior period, Dollar Tree maintained.

Among third-quarter business highlights noted by Dollar Tree are the opening of 197 new stores and the expansion of the multi-price Plus offering to 870 additional Dollar Tree locations.

In a conference call, Rick Dreiling, Dollar Tree president and CEO, said the company’s sales momentum continues to be mostly traffic-driven as it attracts new customers and builds unit and dollar market share. Inflationary pressure, reduced government benefits and depleted savings have negatively affected Dollar Tree’s lower-income consumers, Dreiling noted. Dollar Tree CEO Jeff Davis added shrink was another factor impacting results in the quarter.

In announcing the company’s financial performance, Dreiling said, “Our third-quarter results were within our expectations thanks to continued execution across all aspects of our business transformation. In a challenging environment, our performance was among the best in retail as we continue to grow traffic, unit and sales per square foot.”

Macy’s has appointed Sharon Otterman as chief marketing officer, reporting to Tony Spring, the company’s president and CEO-elect.

Otterman will lead Macy’s strategic marketing, supervising the company’s brand evolution including building awareness, engagement and loyalty among all customer segments, the company noted. The effort will include brand activation and campaign advertising and content planning. It will also cover the company’s creative, visual merchandising, branded entertainment, and media strategy. In addition, Otterman’s responsibilities include leading and building upon Macy’s iconic experiences including the Thanksgiving Day Parade, Macy’s July 4th Fireworks and the annual Spring Flower Show.

Before joining Macy’s, Otterman served as chief marketing officer at Caesars Entertainment, where she launched the Caesars Sportsbook betting operation. Prior to Caesars, she was executive vp and chief marketing officer at Madison Square Garden Co.

In announcing the appointment, Spring said, “Sharon brings a diverse background in media, entertainment and digital transformation to Macy’s. We are excited to leverage her expertise to bring more retail theater across our shopping experiences. She is a passionate strategist and has a successful track record of evolving brands, developing creative marketing campaigns and driving profitable growth. We look forward to having Sharon as part of our leadership team.”