Latest news with #Circana


Axios
2 days ago
- Business
- Axios
Korean food seems to be everywhere in the U.S.
Korean food — ranging from the fine cuisine that wins James Beard awards to the gooey corn dog cheese pulls trending on TikTok — is surging in popularity across the U.S. Why it matters: Although most Asian restaurants in America serve Chinese, Japanese or Thai food, there's clearly an appetite for more Korean restaurants. Catch up quick: First came Korean fried chicken. Then, kimchi turned into a go-to condiment, and ready-to-use Korean barbecue sauces hit shelves, says Tim Fires, president of global food service at market research firm Circana. "The spicy and sweet flavor profile really resonates." Now you can buy Korean corn dogs at Costco. "That's when you know it's hit mainstream." By the numbers: In 2024, there was a 10% increase in the number of Korean restaurants in the U.S., per Circana data. And the number of fast food chains that offer Korean fried chicken and corn dogs has increased by about 15% each from last year. Meanwhile, Korean fine dining establishments are also taking off. Zoom in: Two Hands Corn Dogs is one of the biggest Korean food chains in the U.S. It opened its first store in California in 2019, and now has more than 70 national locations. What they're saying: "Before the increased popularity of Korean culture in the U.S., I wanted to introduce urbanized Korean street food to friends and colleagues in America," CEO Paul Yoo tells Axios. "For me, (eating a Korean corn dog) invokes healing memories of life before we grew up. The good old days of earning allowances from parents for a quick bite with friends at the local fair after school," he says. The big picture: Americans are listening to K-pop music and using K-beauty products, so it follows that they're also eating South Korean food. "The alignment between food and beauty often does show similar trends," says Fires. "If you think about it, it's what's inside and outside of the body."
Yahoo
5 days ago
- Business
- Yahoo
Why Winmark Stock Is Slipping Today
The Wall Street Journal reports 18- to 24-year-old shoppers are feeling strained, and spending less. Winmark's Plato's Closet used clothing outlets depend on this demographic for sales growth. Winmark's profits declined last year, and may post only single-digit growth in 2025 and 2026. 10 stocks we like better than Winmark › Winmark (NASDAQ: WINA), the innovative retailer of used toys and clothing best known for its Once Upon a Child and Plato's Closet stores, is seeing some stock selling this morning as its shares tumbled 2% through 12:45 p.m. ET. And why is this happening? It's never 100% certain, but my hunch is that investors may have been spooked by a recent article in The Wall Street Journal, which reported on weak spending within a key customer demographic that Winmark targets. As the Journal reported Tuesday (online) and Wednesday (in print), "in-store and online purchases for 18- to 24-year-olds fell 13% year-over-year between January and April, according to market research firm Circana." Revived payment obligations on student loans, plus an iffy job market and rising credit card pressures, are blamed for the decline in spending. And the Journal notes all of this is hitting sub-24 shoppers especially hard. That's bad news for Winmark's Plato's Closet brand in particular, which targets tween-to-young-20s shoppers. It's worse news since the Journal says two categories where this demographic is spending much less are apparel (down 11%) and accessories (down 18%). Investors may be especially worried given Winmark's pricey stock, which sells for nearly $380 a share, and costs nearly 33 times trailing earnings, and about 30 times trailing free cash flow. Valuations like these require fast growth to justify, yet Winmark profits actually declined last year, and are expected to grow no more than 6% this year (and only 7% next year), according to data from S&P Global Market Intelligence. Weakening consumer spending won't do anything good for those numbers, I'm afraid. Winmark stock is probably a sell. Before you buy stock in Winmark, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Winmark wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $687,731!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $945,846!* Now, it's worth noting Stock Advisor's total average return is 818% — a market-crushing outperformance compared to 175% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Winmark. The Motley Fool has a disclosure policy. Why Winmark Stock Is Slipping Today was originally published by The Motley Fool Sign in to access your portfolio


Mint
25-06-2025
- Business
- Mint
Goodbye fancy bar, hello at-home pizza party: Young Americans cut back
Sheeta Verma, 25, relaxing with her younger sister, Hiya Verma, and their dog, Appu, at their parents' home in Hayward, Calif. Young Americans' shopping spree is over. In-store and online purchases for 18- to 24-year-olds fell 13% year-over-year between January and April, according to market research firm Circana. Spending by older groups is still on the rise but has slowed. A combination of economic challenges is driving the decline. Young grads are having a much tougher time finding jobs. Student-loan payments are restarting for millions of borrowers. Over roughly the past year, credit-card delinquency rates have risen to their highest points since before the pandemic, and are highest for those 18 to 29, according to the New York Federal Reserve. 'This group is struggling more than older cohorts," said Wells Fargo economist Shannon Grein. Categories where young people's spending has fallen the most include apparel (-11%), accessories (-18%), technology (-14%) and small appliances (-18%). It isn't uncommon for every generation to struggle at the outset. But they also tend to have fewer major financial obligations and more free cash to spend on entertainment and clothing. And as they move up the career ladder, their spending power ought to increase, economists say. 'It sucks for now," said Grein at Wells Fargo. 'But since younger consumers are not only spending less today but also probably saving less, that could dent their ability to build wealth in the future." Bank of America found that spending for Gen Z and millennials fell 1% between May 2023 and May 2025. 'Although a 1% decline doesn't sound so weak, it should at this stage of younger generations' life cycle really be rising," said David Tinsley, a Bank of America Institute economist. Sheeta Verma moved from her parents' house to an apartment in San Francisco six months ago, armed with a list of over 200 bars and restaurants she wanted to try. She has been to fewer than 10. For starters, cocktails are $20. And even when she is willing to splurge, she can't count on finding a friend to go with her. 'It's so disappointing," said Verma, who is 25. After getting laid off and spending most of last year job hunting, she was thrilled about her new startup marketing gig, which pays around six figures. But her salary doesn't go as far as she expected, and she worries about the possibility of losing her job again. Young people are regarded as an important demographic for retailers. 'It feels like every single day I go online and I see a new big tech company has done layoffs," Verma said. Most of her friends are similarly fearful, or part of the rising ranks of the unemployed. They have pulled back paying for meals, streaming subscriptions and buying new clothes, and have gotten creative about finding low-cost ways to spend time together. One recently threw a make-your-own charm bracelet party. Another hosted a pizza-making dinner. Far from embarrassing, Verma said, trying to save money has become kind of cool. She gets extra compliments when she reveals her manicures aren't the $85 gel sets she used to get done professionally, but rather $20 press-ons from Target. 'It's the equivalent to saying your dress has pockets," Verma joked. Himanshu Wagh, one of Verma's friends, frequents fancy furniture stores for a free place to hang. 'We sit on the sofas and when the conversation gets boring, we move to a different sofa," said Wagh, a 25-year-old psychiatry resident. 'We feel rich drinking their free coffee and enjoying this bougie furniture we can't afford." Wagh and his friends play 'guess the price" of whatever they are sitting on. And, if they are feeling wistful, they discuss what feel like faraway dreams to one day own homes of their own. What they don't do: buy anything. Although young people make up only a small slice of overall consumer spending, they are an important demographic for retailers to hook. 'The beauty of the younger consumer is they give you longevity and they give you loyalty," said Marshal Cohen, Circana's chief retail analyst. They also tend to go on more frequent, smaller shopping trips, which leads to more impulse buying. 'The more they're in the store, the more they tend to fill their basket," Cohen said. Sheeta Verma says that trying to save money has become cool. The pullback is especially noticeable for retailers who cater to this demographic. Online sales for Thread Wallets, an accessories brand that sells primarily to 18- to 29-year-olds, fell 29% over the first three weeks of June compared with the same days in May. 'Instead of buying the $30 wallet, they're buying the $16 wallet," said Ryan King, chief financial officer for the brand. The company, he added, is trying to balance tariff-induced price increases on some of their supplies with promotions that could draw in cash-strapped customers. In Los Angeles, eyebrow-grooming studio Two of a Kind used to frequently partner with local sororities for promotions. But around the new year, founder Jordan Feise said, she noticed her college-age clientele starting to space out appointments, downgrade to lower-cost services or stop coming altogether. Ryan King is chief financial officer for Thread Wallets, an accessories brand. 'It feels like the demand among young people has just dwindled," said Feise. She isn't too worried yet, since sales are up for other age groups. But, she said, people tend to form their beauty habits when young—not to mention that those in their 20s are more likely to bring their friends along. The one service for young people that has actually increased: Fixing DIY jobs gone wrong as more people have tried to tint and laminate their brows at home. Skye Bowie, 21, never expected to have a ton of disposable income as a college student. But the closer she has gotten to graduation from New York University, the more financially stressed she has become. She has felt discouraged watching older friends struggle to find work. And she was disappointed when the paid summer internship she had initially lined up fell through. Skye Bowie has felt discouraged watching older friends struggle to find work. 'You get to this point that, even though you did everything you were supposed to do, the system seems stacked against you," said Bowie. Nadia Ford was on track to buy a small condo in Washington, D.C., before she turned 30. The 28-year-old was proud of her six-figure 'dream job" at the Department of Health and Human Services and to be contributing regularly to a savings account for her future down payment. That was before her role as a Presidential Management Fellow was eliminated last month in a round of Department of Government Efficiency cuts. With job prospects in both D.C. and the public-health field more generally looking bleak, she is worried she will have to move back in with her parents in rural Texas. 'I felt like I was where I wanted to be," said Ford. 'Now, that's off the rails." Write to Rachel Wolfe at


Boston Globe
25-06-2025
- Business
- Boston Globe
We are having a candy moment
Customers make their selections at Lil Sweet Treat on Newbury Street. Jonathan Wiggs/Globe Staff Get Winter Soup Club A six-week series featuring soup recipes and cozy vibes, plus side dishes and toppings, to get us all through the winter. Enter Email Sign Up The shops are a child's wildest dream, but they are here for the adults. 'What we're trying to capture is that feeling of feeling like a kid in a candy store,' says Ross, who calls her customers 'candy connoisseurs' and emphasizes the concept of community. 'How do you create those moments of magic and joy, in even the smallest parts of your day? Everyone needs a little joy right now, and candy has that. It knows no bounds. Regardless of age, culture, gender, ethnicity, everyone can appreciate a sweet treat.' Advertisement On Clarendon Street in the South End, Madeleine's Candy Shop specializes in Swedish candy and more. It opened in February. Devra First Especially right now. Lil Sweet Treat arrives on the heels of 'I've always had a major sweet tooth, and the Swedish candy craze was taking off in New York. I'd be Googling, walking around trying to find it,' says founder Madeleine Brason, who left a career in clinical research for candy. 'I identified a gap in the market for candy stores, and also in a selfish way, I wanted a lifetime supply of unlimited candy for myself.' Another pick-and-mix-style candy store, If it seems candy sales must be exploding, that isn't the case exactly. Dollar sales are up (2.5 percent for chocolate and 3.6 for non-chocolate), but unit sales are down (2 and .9 percent respectively), according to Chicago-based market research firm Circana. Cocoa prices continue to rise, and budgets continue to tighten. Consumers are shifting purchasing patterns, perhaps buying less candy or different candy. But there is still candy in almost every household in America. 'We have not seen households back away from treating,' says Sally Lyons Wyatt, global EVP and chief adviser for Circana. 'Candy is one of those categories that everybody loves. It is something that brings joy, it is something essential to social occasions, and that I don't think is ever going to waver.' Advertisement Happy Buttons are one of Lil Sweet Treat's own offerings, bouncy and chewy smiley faces in strawberry, raspberry, pear, and pineapple. Jonathan Wiggs/Globe Staff In this landscape, one category keeps doing well: gummy candy. Consumers (particularly younger ones) cannot resist the lure of brightly colored, chewy, sweet, and tart gummies in a glorious riot of shapes and textures. 'The only categories growing in interest from younger consumers are all chewy: chewy candy, beef jerky, gum,' says Hunter Thurman, founder of Cincinnati-based consulting firm Alpha-Diver, which focuses on why consumers do the things they do. 'Chewing actually has some real proven stress relief ability.' In case you haven't noticed, the last few years have been a lot. 'We have measured it, and we have seen over the last five to six years people are feeling more and more anxious and stressed. The upshot is more people are looking to make themselves feel better,' Thurman says. 'From an evolutionary psychology perspective, food and drink are right at the core of how we help ourselves feel better. There's a reason there's a phrase called comfort food.' The scene inside Boston's Lil Sweet Treat on a recent Thursday afternoon. Jonathan Wiggs/Globe Staff Perhaps we are candy freaks because we are control freaks. 'If you ask a psychologist what do human beings crave above all else, there's one answer: control,' Thurman says. 'Something like candy is very easy to control. I can't control what's happening in Iran or the economy, but I can control something that makes me feel better in the near term.' Banana-caramel Bubs? Don't mind if I do. It's emotional self-regulation. Advertisement Stores like Lil Sweet Treat, Madeleine's Candy Shop, and Nantasket Sweets are tapping into this: Safe spaces, Thurman calls them. They also offer an experience, one more affordable than tickets to a game or a concert, or a new outfit, or dinner out. (Although these candies aren't cheap, priced at around $20 per pound, it's all relative.) In a recent Circana snacking survey, 59 percent of consumers said they like to eat snacks that add excitement to their daily diet, and 58 percent are looking for authentic and/or unique experiences, says Lyons Wyatt. Eric Williams makes pick-and-mix selections at Lil Sweet Treat. Jonathan Wiggs/Globe Staff 'Those stores are the answer to this,' she says. 'They are really feeding into the experience, the excitement. Let's face it, it's been pretty heavy stuff the last few years. These stores are just a breath of fresh of air.' That's the idea. This summer, Madeleine's Candy Shop will open an adjacent ice cream window, serving creemees, Vermont's take on soft-serve. (Yes, you can add candy to your ice cream.) 'I think in a post-pandemic world we're really just looking to feel like kids again and have that nostalgia and be playful,' says Brason, who offers chopsticks with each bag of candy, to aid customers in their nibbling. 'With a candy store like this, the options are limitless. We can have a lot of fun.' Sour hitschies from Belgium at Lil Sweet Treat. Jonathan Wiggs/Globe Staff Devra First can be reached at
Yahoo
25-06-2025
- Business
- Yahoo
Goodbye Fancy Bar, Hello At-Home Pizza Party: Young Americans Cut Back
Young Americans' shopping spree is over. In-store and online purchases for 18- to 24-year-olds fell 13% year-over-year between January and April, according to market research firm Circana. A combination of economic challenges is driving the decline.