Macro:
- Markets continue up. unemployment claims down, payrolls up.
- COVID curve seem to be flattening; time to do some stupid stuff.
- On top of all the other problems, the blast in Beirut destroyed most of the nation’s surplus grain supply.
Retail and Consumer:
- Kroger and Publix are adding hydroponic capacity at stores. Managing inventories and the challenge of food safety to be monitored.
- Vital Farms issues IPO and achieves a market cap of $1.3 billion which is 10X revenue. Hmmm.
- WalMart moves into the space left empty by closed theaters by using parking lots as drive-in theaters.
- Prices for groceries, particularly proteins, are up substantially.
Foodservice and Restaurant:
- Like above, can foodservice operations manage micro-greens on site? Flavor Fields offering custom boxes.
- Restaurants are spending a lot of time wiping down surfaces. It probably does little.
- Breakfast was a bright spot for chain restaurants before the pandemic. Short term sales are disastrous; will it change purchase patterns long-term? I know I have upped my coffee making game.
Lagniappe:
- I’ve had drinks in paper cups and a pint in a paper bag. Now retail liquor will be available in a paper bottle. We’ll let Johnny Walker test it first before we commit.
- This week I learned about Pocari Sweat, which out gatorades Gatorade in Asia and defies all reason when it comes branding.