BRAND SHAKE-UP
Unilever Iconic Ice Cream Shake-UP
Consumer giant Unilever plans to separate its Ice Cream business and focus on a portfolio of brands with strong positions in attractive categories with complementary operating models. The Ice Cream business has five of the top 10 selling global ice cream brands, including Wall’s, Magnum, and Ben & Jerry’s. The separation activities will begin immediately, with full separation expected by the end of 2025.
GROWTH PLANS:
Margaritaville: Plans Compass Brand Growth
Following the brand’s opening in Naples, Margaritaville is planning to expand its Compass by Margaritaville collection of boutique hotels.
EXPANSION PLANS:
Portillo’s: Aiming to open up to 900 stores in the United States + Revenue Growth + New CMO since December 2023
Portillo’s believes they have an opportunity to expand to more than 900 locations domestically which gives the company a long-runway to grow its restaurant base. The company also boasts a very strong average unit volume (AUV) of $9.1MM.
NEW BRAND LAUNCH:
Volkswagen: EV brand Launch + Driving Sales + New Chief Brand Officer
Learn More About the Brand Launch
Learn More About the New Chief Brand Officer
ACQUISITION UPDATE:
Senske Services: Acquisition of Third Company Since June 2023 + Recording Breaking Growth for 3 Years
Senske is a family-owned provider of premier lawn, tree, and pest control services throughout the Western United States. Senske has experienced record-breaking growth for the last three years and plans to dramatically increase M&A activity by targeting an expanding national footprint.
GOVERNMENT & MORE OPPS:
California State Council on Developmental Disabilities – Due April 19, 2024
The State Council on Developmental Disabilities is seeking a contractor to develop a comprehensive branding guide for the SDM-TAP program, provide training on the guide, coordinate outreach campaigns, and establish a social media presence.
Tacoma Public Schools – Due April 18, 2024
The Tacoma School District #10 is seeking qualified advertising and marketing firms to enhance brand awareness, attendance, community involvement, and revenue generation for high school athletic events and programs. The RFP outlines a comprehensive strategy for advertising across various channels, including digital and print media, and at multiple athletic venues within the district. The contract, set to commence in June 2024, offers a 3-year term with options for extension, inviting proposals that creatively utilize the district’s athletic facilities for advertising opportunities.
ECONOMIC INSIGHT:
The Conference Board Economic Forecast for the US Economy
The US economy entered 2024 on strong footing. Various indicators of business activity, labor markets, sentiment, and inflation have generally been moving in a favorable direction. However, headwinds including rising consumer debt and elevated interest rates will weigh on economic growth. While we no longer forecast a recession in 2024, we do expect consumer spending growth to cool and for overall GDP growth to slow to under 1% over Q2 and Q3 2024. Thereafter, inflation and interest rates should normalize, and quarterly annualized GDP growth should converge toward its potential of near 2 percent in 2025.
Retails sales growth over the first two months of the year were weak. Gains in real disposable personal income growth are softening, pandemic savings are dwindling, and household debt is increasing. Consumers are spending more of their income on service debt and delinquencies are rising. Additionally, the growth in ‘buy now, pay later’ plans may also weigh on future spending as bills come due. Thus, we forecast that overall consumer spending growth will gradually slow to a standstill in Q3 2024 as households struggle to find a new equilibrium between income, debt, savings, and spending. While we anticipate labor market conditions to soften over this period, we do not expect them to deteriorate. As inflation and interest rates abate, consumption should expand once again in late 2024.
NEW CMOs IN CHARGE:
Unilever
CMO
Kathleen is a risk-averse executive who is thoughtful in her approach and prefers to follow rules and procedures. She is likely to make decisions that others support. She is approachable but unlikely to become a strong champion easily. Do not rush her into making quick decisions and be sure to show willingness to accommodate her requests.
Cash App
Chief Marketing Officer
Catherine usually goes by the book, following all the rules and procedures. Her decisions are defined by the possible value that they can bring to the organization. She is unlikely to become a strong champion as she doesn’t prefer pushing other people. Don’t do the salesperson avatar, be the friendly advisor instead.