Dorm room decor dilemma: a Picasso or that same Audrey Hepburn poster everyone has? That’s a reality for University of Chicago students, who can now borrow one of 140 world-class works of art (think Chagall and Murakami) for the school year — for free. Part of the deal: UChicago’s museum staffers will drop by periodically to check on the artwork.
In today’s email:
Netflix: The streaming giant wants to cash in on merch.
Etsy: An economic respite for war-torn Ukraine.
Packaged food: Why even your pasta is trendy now.
Around the web: London’s WWII tunnels, cool urbex photos, bagged soup as a D2C biz, and more.
👇 Listen: Why Netflix won’t rest until everyone is wearing a “Stranger Things” shirt.
The Big Idea
Netflix is turning up the volume on its merch business
The streaming giant is doubling down on bobbleheads and T-shirts to monetize its fandoms.
2023-10-04T00:00:00Z
Sara Friedman
Donning Mickey Mouse ears at Disney World is a childhood rite of passage — but where will today’s youths, raised on streaming services, empty their piggy banks?
Netflix has an answer.
Following in Disney’s lucrative footsteps, the streaming giant is going all-in on merch for its original content, per The Wall Street Journal.
So far, Netflix has created things like:
A “Stranger Things” T-shirt emblazoned with “Hellfire Club,” one of its bestselling products thus far.
A line of bridal dresses based on “Bridgerton,” set to debut this December, priced at $1.6k-$3k.
A “Squid Game” Be@rbrick sculpture that’s ~2 feet tall and costs $675.
And Netflix has taken its fandom one step further with IRL experiences, like Bridgerton Balls and an immersive “Squid Game” experience.
But now…
… with its live-action show “One Piece,” Netflix is trying something new.
Rather than waiting to see how the show performed, the company began making merchandise ~18 months in advance:
Hungry for some art? “Feltz Bagels,” an installation from artist Lucy Sparrow, is recreating a classic bagel shop using ~30k pieces of felt. You can order at the counter of the New York City pop-up, but get ready to pay: a custom felt bagel sells for $250.
SNIPPETS
Job openings unexpectedly rose in August, according to new data from the Bureau of Labor Statistics. There were ~9.6m employment vacancies in August, an increase of ~700k from July.
Microsoft and Google’s rivalry heats up: Microsoft CEO Satya Nadella was this week’s star witness in the US government’s antitrust trial against Google, testifying for hours that Google made it hard for measly $2.4T companies like his to compete.
WeWork shares slid 25% after the company said it won’t be making interest payments totaling $95m. The company will enter a 30-day grace period in hopes of jumpstarting negotiations with lenders.
Junk fees (the space kind): The FCC fined Dish Network $150k in the first-ever corporate penalty for space debris. The fine was levied after Dish Network admitted that one of its old satellites posed a risk to active in-orbit satellites.
Chipotle is collaborating with restaurant automation startup Hyphen to test out new tech. The chain will have humans assembling burrito bowls and salads out front for customers, and robots in the kitchen whipping up online orders.
Macy’s will open 30 new stores in strip malls over the next two years. The retailer is betting that smaller-format stores in suburban shopping centers, rather than shopping malls, will lure shoppers.
NBC said Sunday’s Chiefs vs. Jets game attended by Taylor Swift averaged 27m viewers, making it the most-watched Sunday game since February’s Super Bowl. Should Swift’s relationship status make headlines? Probably not, but it does move gobs of money around.
Don’t miss this…
“Being a parent is easy,” said no one ever. The postpartum period is getting increased attention, along with demand for better products and services. We break down the opportunities in this week’s issue of Trends TLDR.
An Artist’s Lifeline
Why Etsy is a financial lifeline for artisans in Ukraine
One day last October, in the southwestern Ukrainian city of Bilhorod-Dnistrovskyi, the lights went out due to Russian attacks on Ukrainian power systems. It lasted two days and set the tone for a brutal winter of energy rationing and rolling blackouts.
In the darkness, 19-year-old university student Olena Hryhorenko reached for a flashlight and started to knit. She has knitted since she was 12 and started an Etsy shop called Toysknit in 2018, selling knitted deers, squirrels, and bunnies in Easter and Christmas garb.
The cold, dark months were a challenge, but Hryhorenko managed to keep her business afloat and shipments on time. In the last year, she’s sold 100+ knitted figurines to buyers across the world, using the money to help support her family.
Across Ukraine — where there are more Etsy items for sale per capita than every large European country except the UK and Germany — there are thousands of crafters like Hryhorenko.
Over the last 19 months, selling on Etsy and other digital platforms has been one of the surest ways to make money in an economy ravaged by war. For some Ukrainians, at times it’s been the only way.
Packaging can be make or break for food & beverage brands vying for attention on the shelf.
2023-10-04T00:00:00Z
Sara Friedman
You know how growing up, your mom would have you hide all the pantry items before the company arrived?
Today’s kids might never experience that mad rush, because packaged food is getting a makeover.
In place of the Jolly Green Giant and Toucan Sam are package designs good enough to frame:
There’s Graza, social media’s favorite olive oil brand.
Chickpea-based Banza pasta in its signature red-orange box.
Magic Spoon cereal, decked out with eye-catching art.
And, in the drink aisle, a seemingly endless array of beautiful cans, like adaptogen drink brand Kin Euphorics and prebiotic soda Poppi.
Helping brands get camera-ready…
… are creative agencies with their finger on the pulse.
Branding pros like Gander, Zero Studios, and RoAndCo are giving food and beverage products the Brooklyn tote bag treatment.
But it’s about much more than being cool:The global food packaging market is projected to reach $468B by 2028.
And packaging can make or break a product’s success:
81% of consumers have tried something new because of its packaging.
72% say packaging influences their purchasing decisions.
63% have purchased a product again based on its package.
Brands have their work cut out for them…
… to meet shifting consumer preferences.
Food packaging made from biodegradable materials — like bamboo or seaweed — will likely become more popular as consumers prioritize sustainability.
Other trends point to high-tech: Interactive packaging with QR codes linking out to immersive experiences, or smart packaging embedded with sensors to provide information on freshness and storage, could be next.
Our ask: Can someone design packaging to keep french fries hot, but not soggy?
AROUND THE WEB
⚾ On this day: In 1955, the Brooklyn Dodgers won their first World Series after seven losses, besting the New York Yankees 2-0.
👀 That’s interesting: In London, an underground tunnel network built as shelters during WWII may open to the public as an immersive attraction.
🎧 Podcast: On Another Bite, is bagged soup a good D2C business? Throw this one in the microwave or crack it open cold for some ROI-sized strategies sure to fill you up.
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Today’s email was brought to you by Juliet Bennett Rylah and Sara Friedman. Editing by: Ben “One ‘Narcos’ keychain away from self-actualization” Berkley.
