February 25, 2022 | ConsumerGeniuses Blog

The future of merchandizing: Cashless payments

ConsumerGeniuses February 25, 2022

Back to Business Global study– 2022 SMB (small and mid-size businesses) outlook presented by Visa revealed that 52% UAE and 41% global consumers plan to go cashless by 2024. As 99% of UAE consumers can foresee an efficient and beneficial cashless society, 94% have planned to use digital payments more in 2022. Digital payments have achieved a unicorn status in the world as 96% of UAE SMBs and 74% global businesses think that digital payments are essential for their growth.100% of small businesses operating in UAE are already accepting digital payments like crypto in 2022. Read more from Gulfbusiness

Racial Equality Journey REJ: PepsiCo took an initiative to empower the minorities of North America

ConsumerGeniuses February 25, 2022

PepsiCo has declared the establishment of a Multicultural Business and Equity Development Organisation that will manage operations across the brand’s North American food businesses to eliminate any sort of racial inequality and support minority groups. The creation of a new organization is a step towards advancement under pep+ PepsiCo positive’s Racial Equality Journey REJ, which aims to foster growth and equality among the masses. The firm is dedicated to invest $560 million in REJ over 5 years to accelerate the representation of versatile employees, strengthen scale, influence suppliers, and empower the marginalized group of North America. Read more from Esmmagazine

Supplier diversity: retailers plan to fill gaps within the industry

ConsumerGeniuses February 25, 2022

With the growing concerns about diversity and sustainability, many retailers plan to establish a network of diverse suppliers and vendors. For this purpose, Peapod Digital Labs has planned to organize four virtual events in 2022, allowing retailers to connect with diverse and certified businesses. Working on similar grounds, Albertsons plans to further develop its supplier diversity plan and Sam’s Club plans to host a supplier diversity summit in April. Efficient Collaborative Retail Marketing (ECRM) is also hosting a virtual event in April 2022 and multiple retailers, including Albertsons, Aldi, Kroger, Target, and Sam’s Club, have registered to collaborate with brands that are verified and operated by minorities. Read more from Supplychaindive

Kraft Heinz and NotCo teamed up to establish a plant-based association

ConsumerGeniuses February 25, 2022

TheNotCompany Inc., a producer of meat and dairy alternatives, partnered with Kraft Heinz to launch innovative food varieties. The startup will be headed by Kraft Heinz as The Kraft Heinz Not Co. LLC. The association will utilize technology and artificial intelligence solutions powered by NotCo and Kraft Heinz’s established portfolio to manufacture better plant-based alternatives. NotCo has already introduced NotMilk, NotBurger, NotMeat, NotIceCream, NotChicken, and NotMayo in Chile, Mexico, Peru, Colombia United States, Canada, Brazil, and Argentina. Incredibly, the company raised its worth to $1.5 billion within 5 years. Read more from Foodbusinessnews

Singaporean-based Next Gen Foods acquired $100 million and branched out in the U.S

ConsumerGeniuses February 25, 2022

Next Gen Foods, a Singaporean plant-based meat Company, acquired $100 million in the Series A funding round, hitting a total of $130 million funding. The list of investors includes Alpha JWC, EDBI and MPL Ventures, Temasek, GGV Capital, K3 Ventures, and Bits x Bites. With the generated funds, the company plans to expand its reach towards the US and invest in research and development R&D to produce sustainable food. Next Gen’s Tindle, a healthier plant-based chicken alternative, is already available at 12 U.S restaurants and it is acknowledged by consumers in Singapore, Amsterdam Hong Kong, the United Arab Emirates Macau, Kuala Lumpur, Macau, and Hong Kong. Read more from Fooddive