1) The plant-based meat industry is struggling to vegetate. Sales volume at supermarkets was down 14% last year, and orders dropped 9% at fast-food spots.
2) Egg-gregious. Consumer advocacy group Farm Action is asking the Federal Trade Commission to investigate the egg industry for price fixing. The group says Cal-Maine Foods saw $535.34m in gross profits in the 26 weeks ending Nov. 26 — 10x the profits they saw during the same period in 2021.
3) Konnichiwa, Japanese liquor industry. With a depreciating yen and the growing global popularity of Japanese cuisine, liquor exports from Japan jumped 60% in 2021 to 114.7B yen ($868m), and, in 2022, surpassed that level by October. Still, Japan represents just 0.1% of the global alcohol market.
4) They’ve had it with the number crunching. In the US, 300k+ accountants and auditors have quit in the last two years. Now, industry giants like KPMG and PwC are outsourcing work overseas, where workers can handle up to 95% of an audit.
5) The secondary luxury watch market is on track to surpass the primary-sale market by 2033. In 2022, primary sales hit ~$56B and secondaries notched ~$27B. By 2033, they could reach~ $81B and ~$86B, respectively.
Get the 5-minute roundup you’ll actually read in your inbox
Business and tech news in 5 minutes or less