Rundown: TikTok's impending U.S. ban, Saks goes into retail media & Amazon's grocery ambitions

This podcast episode explores the closure of Foxtrot, a convenience store that was meant to be a future of its kind but has now shut down, as well as the challenges faced by small brands that rely on such stores. It also delves into the TikTok ban, with President Biden signing a bill that requires TikTok's parent company, ByteDance, to sell the app to a U.S. owner or face a ban in the U.S. The rapid passage of legislation and the potential consequences and uncertainties surrounding the ban are discussed. The challenges and uncertainties surrounding the potential sale of TikTok, as well as the ongoing legal battles and their implications for the future of TikTok and the brands involved, are examined. The podcast also covers the launch of Saks' retail media network and its strategy to position itself as an advertiser, as well as the segmentation of retail media networks and the value of first-party data for retailers. The discussion then shifts to Amazon's grocery delivery strategy and its competition with Walmart, including the introduction of a new service, targeting low-income families, and the constant evolution of Amazon's approach to the grocery industry. Lastly, the episode touches on the concerns about Amazon's ability to meet the needs of lower-income households and previews an upcoming interview with former Peloton CEO John Foley about his new rug startup.