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The Flavourtech Integrated Extraction System (IES) is revolutionizing the production of ready-to-drink (RTD) coffee and tea, meeting the demand for high-quality, flavorful, and health-conscious beverages among Gen Z and Millennial consumers. The global RTD coffee market is projected to reach over $167bn by 2030, driven by younger demographics seeking convenience, sustainability, and health benefits. Flavourtech's IES captures the top notes of roast coffee beans or tea leaves, preserving their fresh aromas and flavors through a unique extraction process, making it a key player in the evolving RTD market. [Extracted from the article]

The global market for no and low alcohol spirits is experiencing significant growth, driven by consumer preferences for healthier lifestyle choices and the rise of sober-curious movements. Consumers, particularly Millennials and Generation Z, are embracing mindful drinking, which involves opting for non-alcoholic beverages that provide the social experience of drinking without the alcohol content. Flavourtech's Spinning Cone Column (SCC) technology is playing a key role in the production of high-quality no and low alcohol spirits by preserving flavor, offering efficiency and flexibility, reintroducing natural aromas, and providing cost-effectiveness and sustainability. Despite challenges such as consumer perception and regulatory compliance, the market presents opportunities for expansion through quality improvements and new product developments. [Extracted from the article]

Researchers at ETH Zurich have developed a new method for creating chocolate that is healthier and more sustainable. The method utilizes the entire cocoa pod, including the pulp and husk, which are typically discarded in traditional chocolate-making processes. By using the sweet juice from the pulp and a powdered form of the husk, a gel is created that can replace powdered sugar in dark chocolate. This new method offers increased fiber content and a decrease in saturated fat, potentially solving the challenges faced by the chocolate industry due to rising cocoa prices and climate issues. The researchers hope that this innovation will benefit cocoa farmers by providing them with more diverse income opportunities. [Extracted from the article]

Mondelez International, the US-based snacks giant behind brands like Cadbury and Oreo, has announced plans to increase its use of generative artificial intelligence (AI) in its marketing efforts. The company will collaborate with Accenture and Publicis to create a new platform that can quickly and efficiently generate personalized text, images, and videos. Mondelez aims to redefine consumer goods marketing by leveraging gen AI to create on-trend creative content at a faster pace while maintaining brand integrity. This move is seen as a way for the company to produce more varied and personalized content that appeals to a broad audience while also controlling costs and adhering to restrictions on personal data usage. [Extracted from the article]

eBay will be participating in the European Outdoor Summit 2024, along with Reskinned and Certilogo, to discuss the topic of driving brand success through recommerce. The event will take place in Cambridge, UK, and will feature a variety of speakers from the outdoor sector and experts from the University of Cambridge Judge Business School. The summit has been sponsored by Gore-Tex since its inception in 2014, and other sponsors this year include YKK, Bleckmann, EXPED, and Outdooractive. eBay recently announced that it is now free for individual sellers to sell preloved fashion items, in support of the circular fashion movement. [Extracted from the article]

Ted Baker, a British high street fashion retailer, has closed its final UK stores, leaving a gap in the market. Retailers such as Reiss, Whistles, and Phase Eight are well-positioned to capture Ted Baker's former customer base, as they offer similar collections and cater to a comparable demographic. Other potential winners include Flannels, Fred Perry, and Ralph Lauren Polo. While Ted Baker's exit is significant, its impact may be less dramatic than expected, as much of the gap has already been filled. The brand's downfall can be attributed to its failure to pivot its business model during the pandemic, a misalignment with consumer taste, and a critical misstep in corporate governance. The future of Ted Baker as an online-only brand remains uncertain, and it will need to address the issues that led to its downfall and rebuild its brand image. The broader message for the fashion industry is the importance of staying relevant, adapting to consumer trends, and maintaining a strong brand identity. [Extracted from the article]

Virtual wardrobe apps, such as Whering, Indyx, Combyne, 30 Wears, and Good on You, are gaining popularity as consumers look for alternatives to real-world shopping. These apps allow users to virtually log their wardrobes, create outfits, and track their wearing patterns, helping them avoid impulse purchases and reduce costs. Virtual wardrobes also cater to the trend for classic and timeless styles that can be worn for multiple occasions. Additionally, these apps address environmental concerns by encouraging users to maximize the use of their existing wardrobe and suggesting sustainable alternatives. However, the time-consuming process of cataloguing and uploading items remains a challenge. Fashion brands can potentially partner with these apps to be featured in personalized shopping guides and gain valuable insights into consumer preferences. [Extracted from the article]

A recent survey conducted by Probolsky Research compared the experiences of 340 US customers who had made purchases on both Temu and Amazon. The survey found that while both platforms offered similar product variety, Amazon stood out for its extensive selection. However, Temu was considered cheaper by over 76% of respondents. Amazon's efficient logistics network made it the preferred choice for customers prioritizing quick delivery, with 66% indicating it was much faster. Customer service ratings were more evenly split, with 33% rating Amazon's service as superior. Half of the respondents found Amazon's return policies to be better, while 39% believed both platforms had similar policies. Customer reviews were considered important on both platforms, with 33% placing more importance on Amazon's extensive review system. [Extracted from the article]

According to a report from UNiDAYS, Gen Z students in the UK are expected to spend £1.5bn on fashion for the upcoming academic year. The report reveals that trainers, womenswear, streetwear, and accessories are among the most popular categories. GlobalData predicts that footwear will continue to see growth, with sneakers and trainers being particularly in demand. Gen Z shoppers are described as passionate about fashion trends and are driving growth in the market. The report also highlights that casualwear is the most important style for UK shoppers, with womenswear and menswear being the top categories. Additionally, a report from Walmart found that 20% of Gen Z sees social media as a future primary shopping platform. [Extracted from the article]

The luxury fashion industry is experiencing a slowdown, with major brands like Capri Holdings, LVMH, Burberry, Kering, and Mulberry reporting declining sales. This is attributed to a challenging global retail environment, tighter finances among consumers, lasting inflation in Europe and the US, and a downturn in China's economy. While this presents challenges for luxury brands, it also creates opportunities for mass-market fashion brands to capitalize on the shift. However, the same economic factors affecting luxury brands are also impacting the broader market, leading to a polarized consumer behavior and results within both sectors. The current slowdown may lead to lasting changes in the fashion industry, such as changes in production locations and store closures. Strong brand equity and appealing designs will be crucial for success in the luxury market. Despite the slowdown, the personal luxury goods market is projected to grow in 2024. The luxury slowdown serves as a reminder that no segment of the fashion industry is immune to economic pressures, but it also presents opportunities for brands to reassess their strategies and emerge stronger in the long run. [Extracted from the article]

A survey conducted by Centra, a specialist e-commerce platform, found that despite a decrease in spending, UK consumers maintain brand loyalty through engagement with new products, brand content, and social media. The cost-of-living crisis has impacted consumer behavior, with 64% of respondents reporting a decrease in fashion and lifestyle product purchases. However, reduced spending does not equate to brand abandonment, as 53% of consumers continue to engage with their favorite brands. Millennials, in particular, express continued brand loyalty despite less frequent spending. When their finances improve, consumers prioritize purchasing coats or jackets, jeans, formal footwear, gym wear, and watches or jewelry. [Extracted from the article]

According to the latest CNBC/NRF Retail Monitor, US retail sales in July increased by 0.74% compared to the previous month and 0.92% compared to the previous year. Although clothing and accessories stores saw a decrease of 4.79% compared to the previous year, overall sales were boosted by special promotions both in-store and online. The report also noted that core retail sales, excluding restaurants, automobiles, and gasoline, increased by 0.95% month-over-month and 1.69% year-over-year in July. Despite cautious consumer spending and economic concerns, the NRF president and CEO, Matthew Shay, stated that consumers are still spending on essentials when they find value. [Extracted from the article]

The UK retail footfall has decreased for the twelfth consecutive month, with July seeing a further drop compared to June. The data shows a mixed picture across different retail environments, with an increase in footfall on the High Street, a decrease in Retail Park footfall, and a decrease in Shopping Centre footfall. All UK nations experienced a decline in footfall, with England seeing the largest decline. Factors contributing to the decline include increased consumer spending on holidays and leisure activities, as well as the impact of the recent election. However, there is cautious optimism for the post-election landscape, with potential reforms in business rates and planning laws. The cost-of-living crisis continues to impact consumer confidence, but there is hope for improvement in the coming months. [Extracted from the article]

TikTok Shop experienced a 37% growth in the week ending July 11, 2024, taking market share from Shein and Temu, two fast fashion giants. This growth occurred during the Deals for You Days promotion and coincided with other major retail events. Data also shows that TikTok Shop customers spend about 70% of what Shein and Temu customers spend, potentially due to different shopping behaviors on the platforms. Gen Z shoppers, particularly in China, Vietnam, Indonesia, and the Philippines, are driving the future growth of the retail industry through social commerce. The online market is predicted to increase by 6.3% in 2024 before gradually declining as it becomes more established worldwide. [Extracted from the article]

A survey conducted by Garson & Shaw found that 28% of Americans buy second-hand clothing for environmental reasons, while 58% do so to save money. The research also showed that the average US adult has 6.2 unworn clothing items in their closet, amounting to 1.6 billion unused garments across the nation. If these items were redirected to the second-hand clothing market, it could prevent a significant amount of waste from entering landfills and save water equivalent to 3 million Olympic-sized swimming pools each year. The report also highlighted that the US leads global second-hand clothing exports, followed by China, the UK, and Germany. However, the Americas' share of the resale market has been declining and is expected to continue to do so. The survey found that a large percentage of Americans already consume second-hand clothing, with Gen Z being the most engaged. The report emphasized the need for policies and regulations to support the second-hand clothing sector and create a truly circular economy. [Extracted from the article]

The online fashion sector has experienced a 1.3% growth between May 2023 and April 2024, with emerging markets showing the most potential as established regions begin to saturate. The US remains the dominant market, but 80% of the largest markets are seeing declining visitor numbers. Japan and Canada are among the fastest-growing countries, while Argentina leads in terms of growth with 20% year-on-year growth. The second-hand market is also surging, with Vinted and Depop experiencing significant growth. The apparel resale market is projected to grow at a compound annual growth rate of 12.9% between 2023 and 2027. Direct-to-consumer (DTC) is another notable trend, with Nike's DTC website in Argentina ranking as the second-largest in the country's fashion and apparel sector. In the athletic footwear segment, Adidas saw the largest website growth, but Nike's brand search volume has grown by 37%. [Extracted from the article]

Whering, a fashion app, is aiming to promote sustainability and personalization in the fashion industry. The app allows users to digitally browse their own wardrobes and offers AI insights, moodboards, wishlists, and now a social element. Users can browse each other's wardrobes, submit style suggestions, view moodboards and wishlists, and compete on leaderboards. The app also provides statistical breakdowns of personal habits and promotes sustainable practices by showing users what percentage of their wardrobe is new, preloved, rental, and handmade. Whering hopes to create a community of sustainable and conscious consumers through its social features and gamification. [Extracted from the article]

The article discusses the potential impact of the UK general election on the apparel sector. According to a survey, 24.6% of consumers expect their retail spending to be affected by the election, with spending likely to decrease. The article analyzes the policies of the major political parties, including the Conservatives, Labour, Liberal Democrats, Green Party, and Reform UK, and how they may affect the apparel industry. Each party has different approaches to business, taxation, sustainability, and technology. The article provides a comprehensive overview of the parties' positions and their potential implications for the industry. [Extracted from the article]

The demand for personalized food and drink products is increasing, with consumers seeking products tailored to their interests, diets, cultures, and lifestyles. Market research shows that the value and volume of food products appealing to specific consumer groups have grown at a compound annual growth rate. This growth aligns with shifting consumer behavior and the increasing importance of health and wellness in grocery shopping. Consumers are influenced by health labeling on product packaging and are looking for options that suit their taste and dietary requirements. Manufacturers are incorporating functional ingredients, such as postbiotics, into food and drinks to customize the nutritional content and address health issues. However, manufacturers face challenges in product development and ensuring that functional ingredients do not compromise the flavor and texture of their products. Postbiotics, in particular, are becoming popular due to their unique characteristics and resilience in processing conditions, making them suitable for a wide range of food products. Scientific advances in postbiotics are expected to contribute significantly to the demand for personalized food products in the future. [Extracted from the article]

According to McKinsey & Co's State of the Consumer 2024 report, young consumers in Asia and the Middle East are expected to drive growth in emerging markets. These consumers, particularly those aged 18 to 24 in countries like India and Saudi Arabia, are optimistic about the economy and willing to spend. They have a strong desire to purchase premium products and are more likely to choose high-priced brands and retailers compared to their peers in advanced economies. Additionally, the report highlights that older consumers in emerging markets are also ready to spend, with wealthy aging consumers in these markets being more optimistic and willing to spend on discretionary items compared to those in advanced markets. However, the report cautions that consumer businesses should not exclusively focus on younger consumers and should also consider the opportunities presented by wealthy aging consumers. [Extracted from the article]

Diageo, the owner of brands like Guinness and Johnnie Walker, is driving its innovation strategies through sustainability, digital technology, "neo-hedonism," and moderation and wellness trends. The company has implemented initiatives such as a paper-packaging trial for its Baileys liqueur and a global pilot with Ecospirits for reusable packaging. Diageo is also investing in non-alcoholic products and using artificial intelligence to identify consumer trends and personalize drink choices. The company aims to achieve distinctive growth through its innovation efforts while staying true to its brands and differentiating its products. [Extracted from the article]