Richard "Rip" Young

🎙Heard at #RLC2024 from Pete Cancro from Jersey Mike's Subs -- they have a $200M annual marketing budget. With 2720 stores that means the budget breaks down like this: - Per store per year: $73529.41 - Per store per month: $6127.45 - Per store per day: $201.45 Want to be a brand that's getting an offer for $8 billion to sale? You now know what you need to spend PER DAY on marketing ... #RLC #restaurantleadershipconference #restaurantbusiness #restauranttech #restaurantowners #restaurantmarketing #restaurantindustry #restaurantowner

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A double earnings/sales beat, raised guidance in many meaningful categories, and new product new news for CAVA makes for a great quarter. In fact, very few other brands--only a handful-- are doing as well. A new brand regarded as cool by guests and employees and the right kind of executive management and food has been evident for years now. The IPO seems to have supercharged attention and momentum. The discussion about the calendar adjusted SSS and traffic and the two year stacked SSS number warrants a note. While the 10Q P&L necessarily focuses on change from prior year, we are almost certainly wrong focusing on that number. We as an industry can and must spend more time on 2 year and even five year stacked numbers for better MD&A. CAVA did today. Their disclosure changed the tone. Thank you Brett Schulman.

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Exciting news from Craveworthy Brands As many of you know, I love to hint at our next big moves. Some might question this approach, but I believe it’s crucial to show my commitment to pushing our team and our dreams to new heights. Our latest acquisition is a game-changer, bringing Taim and Hot Chicken Takeover into our family! This strategic move will supercharge growth for our beloved Soom Soom and The Budlong Southern Chicken providing them an extraordinary platform to thrive. Additionally, it accelerates the expansion for Sigri Indian BBQ, offering immediate opportunities for two to three new locations. We’re also setting the stage to launch Costeño Rojo, testing a few locations to refine our concept further. But it’s not just about growth—it’s about people. We’re thrilled to collaborate with the fantastic teams at Taim and Hot Chicken Takeover. Their passion and innovation are exactly what we need to reach new heights. I’m excited to see what we can achieve together with this incredible talent. Stay tuned. We’re just getting started! #CraveworthyBrands #BusinessGrowth #Acquisition #FoodIndustry #Leadership #Innovation #RestaurantBusiness #Teamwork #Entrepreneurship #BrandExpansion

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Headline not matching the accompanying story I’m afraid. Jon Moramarco calls the data “muddy” at best. My own impressions are that many wholesalers have cut their post-pandemic inventories by reducing SKU counts. This by extension disadvantages the smaller producers who consume as much staff time as the larger ones and often sell products with less predictable sales trajectories. There are advantages to marginalising smaller producers both in staff time and capital, but large producers have the power to dictate their wholesaler’s inventory levels sometimes under the threat of pulling their lines with potentially devastating consequences. Wholesaler inventory levels are not necessarily an indicator of the health of the market or consumer behavior.

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**If I had to give one peice of advice to a new brand ** No retail buyer will pass on a product that is in demand. In early stage beverage industry we would flood the parking lot of key chain accounts with cold drinks on hot days, we would catch people leaving the store not going in; the pitch was simple: “Stay safe in this heat; and Thank you for shopping at (store name)” 1. Who passes up a cold drink on a hot day? 2. We got the product into their car (not a trash can) 3. We built consumer association with a store we’re not even in. 4. We show a kind act that we cared about their safety. You know who took us into the store? The kids having to collect carts, they would grab a drink while in the parking lot and go inside and tell 2-3 friends that would then come out and grab a drink and take it into the store and next thing you know it would make it to the break room, a desk, at a register… but it wasn’t sold there YET.. Two things would happen; we would be asked to leave the parking lot (happened a lot but we’d be back) they would eventually tell us to speak to XYZ about getting our product in. And this is how we broke into retail pre sales force, call center and cold email, cold text era. A lot of times the store manager wouldn’t have the authority to bring the product in but they would send it up the chain; if 4-5 of your stores start making the request, it moved the dials. We landed smith, krogers, Safeway all through these style activations. Note* we would also send people in asking managers for the product. Yeah ok, maybe we sent in 25 a week asking for it in exchange for free product but that’s another program. 🤷🏻‍♂️ Activations win customers

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The Adult Non-Alc space is fascinating. As it evolves I think we’ll see some stratification between the functional ingredient beverages and the alcoholic beverage analogs with no functional ingredients. I think the route to market and consumer demand segment will end up being very different for these two distinct categories. I think there’s a bright future for both. What do you think?

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Not just ink on paper, 1Vision provides value when it comes to Direct Mail. If you can save your brand as much as 17% on production cost and receive additional value, would you at least have a 10-minute conversation? #directmail #franchise #marketing #retailmarketing #printing #mail #financial

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Infor's Will Quinn, aka "The Distribution Guy" recently shared about the need for distributors to utilize financial managment and cost-efficiency strategies to maintain, and improve, profitability. https://lnkd.in/eQvehgJ3. In the electrical distribution industry, organic growth rates have dramatically slowed. The post-COVID fueled go-go days are gone. Cost structures for many have increased. Distributor margins are squeezed. Customers focus on service AND price (except for switchgear and transformers!). Distributor investments must be focused on improving operational efficiency (ability to do more with the same, or less, and deliver the result "quicker") and cost-effective operations (inventory and other capital management). Further, he shares that analytics must be actionable to enhance decision-making without burdening staff with too much information. As net profits decline (a few years ago they reached a peak of 6.6%, and 2023 net profit before tax for construction-oriented distributors will be lucky to be around 4-5% with sales growth in the low single digits!), company's need to refocus on the basics and be intentional in their growth strategy. (and yes, we have ideas to help) Will shared a number of good ideas to help distributors regain the path to profitability. Other thoughts on how distributors can improve profitability cost-effectively? #willquinn #infor #electricaldistribution #channelmkt #electricaltrends #netprofits #operationalefficiency

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Here’s to National Bourbon Day. Much to celebrate today with National Bourbon Day, Flag Day and the US Army's birthday. Hope everyone has a great weekend! In 1964, Congress protected Bourbon as "a distinctive product of the United States". These are the 5 rules that govern Bourbon Whiskey: -Must be made in the US. -Must be 51 percent corn. -Aging must take place in new (not aged) charred-oak barrels. -The whiskey must be distilled at no more than 160 proof. -The whiskey must be barreled below 125 proof and bottled above 80 proof.

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Exciting news! Craveworthy Brands has added another industry legend to its Advisory Board and welcomed him as a partner. Perry Miele brings a wealth of knowledge and passion to our team, and we can't wait to see what new verticals he helps us build in the future. It may not be as big as buying three companies in a week, but to us, this is a huge deal. Stay tuned for more exciting updates from Craveworthy Brands! #AdvisoryBoard #NewPartner #CraveworthyBrands

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CPG Friends, I have discovered a platform that is on a mission to offer a more fair distribution method to help build your brand while also having merchandising and re-order built in and handled by their team. They are focusing as of now on convenience stores, liquor stores, gas stations, and other independents. And so far from my vetting process and speaking for hours with the CEO, they are the real deal and offer really great solutions for small, emerging brands and even large brands that are doing massive sales. We’ve all heard the pain points on here from countless brands when dealing with distribution in general in this business from chargebacks, freight billbacks(sometimes putting brands out of business) If I could help link your brand with a better solution to grow your company and retain all the sales dollars in your pocket, this could be potentially groundbreaking and flip the traditional model as we know it ON ITS HEAD. Please DM me and happy to share more information about it.

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The National Restaurant Association Show this year had a clear and major theme – easy, impactful changes to minimize labor costs and maximize consumer spending. The shift in focus from high-end aspirational changes and million-dollar equipment to practical, cost-effective solutions seems indicative of a shift in operator needs. Innovation at its Simplest: This year's show featured more startup equipment suppliers showcasing ingenious, homemade solutions. From mop cleaners made from five-gallon buckets to devices for slicing bar garnishes, these inventions were not only affordable but also offered significant labor savings. The absence of sleek, expensive robots highlighted a critical reality: operators need to reduce labor costs but can't afford high upfront investments. If last year was the year of the robot, this year was the year of the five-gallon bucket. Doing More with Less: Cooking demonstrations pivoted from creating complicated new dishes to upskilling labor. They showcased how fewer kitchen staff could still produce high-end meals through cross-training, simple equipment solutions, and simplified recipes. The focus was on practical inspiration, like rotating garnishes and sides to keep menus fresh without needing new techniques. Enhancing Customer Experience: Bartending mixology demos shifted from crafting complex cocktails to boosting sales through simple techniques. One standout tip was for bartenders to shake a cocktail shaker full of ice water early in the evening. The sound of ice being shaken creates a vibrant ambiance, encouraging customers to order more cocktails. It's a small hack with a big impact on sales. The foodservice industry's ability to quickly pivot and address operators' needs continues to impress me. This year's NRA trade show demonstrated the industry's resilience and adaptability, showcasing relevant product offerings and sales strategies that meet current demands. The speed at which this industry evolves is truly remarkable. #foodservice #nationalrestaurantassociationshow #peergroup

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The aisle endcap is being replaced by digital screens. Which I think shows a shift in how retailers engage with consumers. Endcaps are: • Highly visable in high traffic areas of stores. • Primed for impulse purchases • A perfect place for cross-product promotion (Tuna + Mayo, or Meal ideas) • Great for new product visability Digital Endcaps seem to have a huge impact on awareness, but less on conversion that you may get with the ‘normal’ endcap. Should creative formats change? Should there be prompts on where to find the product? Could these be used for non-endemic brands with NFC or QR codes for information? E.g. breakdown cover near car accessories? Full future thinking: maybe the Scan as You Shop Handsets with a NFC sensors that will customise the digital endcap promotion in line with your shopping history and provide personalised recomendations as you walk by. #retailmedia

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Bourbon fanatics, rejoice! Especially those who have a thing for rarities like … … Blanton's Single-Barrel Bourbon, one of the best whiskeys in this category of exclusive spirits, and therefore tends to be more expensive. While this definitely isn't the only rare bourbon that eagle-eyed shoppers have discovered at Costco, it is one with a particularly cult-ish following; and the eight-year aging period is part of the reason. Guess what? I snagged two bottles. For those who don't know, there are three different tiers of bourbon — standard barrel, which is the cheapest and most common type; — small batch, a blend of the better barrels at a given distillery; — and single-barrel, which is often the highest quality bourbon a producer makes. In recent months, the hard-to-find bourbon has been spotted at Costco for less than $60, — well below its normal market value of $100 or more. This has obviously caused a bit of a commotion in online communities like Reddit, and it's worth noting if you're a collector who has access to a nearby location and can grab a bottle before they're gone. Blanton's was the first distillery to release a single-barrel bourbon, and though many distilleries have since followed suit, the hallmark of being the first has helped this particular whiskey to be considered the best of its kind. Other special embellishments … like a collectible horse and jockey stopper, of which there are eight variations, and a unique geometric glass bottle also help this rare spirit stand out. Oooh 🥃 Since it does tend to be so costly, this isn't a whiskey that a lot of people have on hand as part of their home bar. But at the much lower price point of $50 or so — about half the price it is usually sold for, acquiring a bottle to try at home is suddenly a much easier and attainable mission. Again, I picked up two bottles 😎 Hey, if it's good enough for John Wick, it's good enough for you.” Source: TastingTable #Bourbon #Whiskey #Rye #Kentucky #ConsumerBehavior #BrandAwareness Cheers🥃! ✦✦✦ Stephen Carter King Chief of Growth and Marketing and Strategy + CEO of Beerconomy 🍻 Beer Market Analyst with beer market trends, insights, data and forecasts • Advisor • Sherpa • Thought Catalyst • Speaker • Publisher of The Beerconomist ☘️

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A successful promotion takes preparation, communication, and execution. Whole Foods Market executes two promotional cycles each month - July A and July B for example. New promotions drop every other Wednesday and on this day stores transition their old displays for what is newly on sale. Knowing this, a successful promotion begins two weeks prior to change over. During this time, it's imperative that decision-makers in store are aware of what’s coming on sale, what kind of sale it is (TPR, National Off Shelf), and what has been agreed upon in the buyers office. This information helps stores plan more effectively to ensure they are meeting global directives, while flexing their own in-store autonomy. It also ensures your brand is top of mind when store leadership is deciding what brands will go where. Communicating the information once is not enough. It takes weekly reminders and consistent check-ins to ensure that your brand sees the greatest ROI on the promotional spend. The difference between a successful promo and an unsuccessful promo occurs here, in the preparation and communication stage. The execution - the building of displays, the hanging of sales tags, the managing stock levels throughout the whole promotion - is equally important but good execution means nothing if the right people aren’t prepared and informed. The holy grail of promotional execution is when stores build displays and position your brand in prime position prior to the promo dropping. That’s what we see below for our partners at LOVE CORN. This beautiful display at a POP next to the registers is built and ready to go for Wednesday's price change. Fortunately for them, they get two more days of eyes and interest in a prime location, which will only drive their velocities heading into July A. This display is a result of preparation, communication, and some beautiful execution. It takes being present getting dirty to secure, but there’s no doubt - this display is clean. Great job, Chava! Dirty Hands

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⚠ Listen Up ⚠ When your products can double as commodities, the partners bringing them to market (e.g., distributors and retailers) are as pivotal to your success as your customers. Try these suggestions from my latest article in Entrepreneur Media magazine, to build thriving business relationships, cultivate loyalty and foster success. Link ⬇

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