The Non-Dairy Milk Cult 🥛
This Week in Review ☕️ : The Vegan Brand credited for making Oat Milk hot in America | Amazon vs Visa | Your Morning Cappuccino is about to get costlier | Europe braces itself as the 4th wave ensues |
Quick Bites:
Health 🥛 : Soy, Almond, Coconut, Cashew, Macadamia.. and we finally have a winner- Oat. Or atleast we thought we did.
Oatly, the cult oat milk brand, has seen its share price drop almost 20% after poor sales and production issues.
The Swedish company, which went public this May, had emerged as the market leader at a time when people have been increasingly conscious to eat clean + reduce their carbon footprint.
You can find Oatly in cafes, supermarket aisles, online or in Kris Jenner's shopping cart- it's everywhere.
"It's like milk, but made for humans"
However, Oatly has said “near-term factors”, including the pandemic have led to sales being lower than expected in Europe and the Middle East.
The company, backed by celebrity investors like Oprah and Jay-Z, saw its pre-tax losses rise to $41mn from $10mn a year ago.
Oatly has also cut its full year revenue forecast by $55mn after encountering a "quality issue" in one of its factories and driver shortages in the UK, Sky News reports.
Our Thoughts💡: The crushing stock price is a harsh reminder that fundamentals matter, even for cult-favorite non-dairy brands credited for making oat milk hot in America!
Clearly, there's more to success than slick marketing and holier-than-thou packaging!
PS. How do ya'll think this will impact Impossible Foods upcoming IPO?
Coffee ☕️ : Coffee because therapy is too damn expensive.. or atleast that was the case until now.
Brace yourself guys, your standard cappuccino is about to get pricier as the world faces a shortage of coffee beans.
Safe to say there's a whole lotta angry Jennifers' right now. Goodbye Starbucks' Toasted White Mocha Latte 👋
According to Bloomberg, frosts and severe droughts have caused Brazil, the world's largest supplier of arabica coffee beans, to lag behind in production.
This in turn has led the price to surge to its highest levels in a decade.
Due to this, coffee roasters might switch to robusta beans, a cheaper variety + more bitter in taste, Bloomberg reports.
Coffee inflation is the latest example of how extreme weather, partly driven by the climate crisis, has been terrible for producers.
"The weather is atrocious for coffee, especially in Brazil"
Planet Earth to Humans: You hear me now?! 🔈
Our Thoughts💡: 25 bucks for a basic Oat Cappuccino?! Stay strong millennials 🙏
Big Tech 📲 : As shopping moved online this pandemic, the face of Amazon addiction has become far less about the bored suburban housewife, and more about anyone who can't help themselves away from that one-click ordering button.. except for those who use a Visa card.
Amazon will no longer accept Visa credit card payments in the UK starting 19 January.
This is due to the high transaction fees which acts as "an obstacle for businesses striving to provide the best prices.”
Until recently, UK card fees were restricted. But thanks (no, thanks) to Brexit, card companies have been jacking up the prices, with the additional charges being passed onto consumers!
So.. Bezos decided to delcare war on Visa and let's be honest- Amazon has the muscle to push customers to use alternative card providers.
Visa criticized the decision, saying the move would limit consumer choice.
The world's largest online shopping website not accepting the world's largest payment processor.. Sounds nuclear 💣
On a side note💡: Amazon Prime Day's around the corner and there'll be deals on sale for meaty savings.
Like Thanksgiving leftovers, you can't enjoy Pumpkin Pie & Turkey-everything bliss forever, so grab em' while you can. There's no knowing how long they'll last..
Pandemic 🦠 : European countries are fighting a 4th wave of Covid-19 infections.
"We're back to square one."
Vaccines working then?! 🙈
A more infectious new version of the Delta variant is already spreading fast in the UK, accounting for about 12% of samples collected, Bloomberg reports.
Just in time for Christmas. How predictable 🙈
According to Euronews:
In Austria:
💡Nationwide lockdown for unvaccinated citizens
💡Police patrols increased, with fines for breaking the rules upto 1450 euros
💡64% of the population is fully vaccinated, which the Chancellor calls "shamefully low"
In Germany:
💡Chancellor Angela Merkel has reissued an appeal to get vaccinated
💡Large gatherings prohibited
💡Remote work being reconsidered
In Denmark:
💡Digital pass reintroduced to enter nightclubs and restaurants
💡Pass required for outdoor events with over 2,000 people
💡Covid-19 declared "socially critical disease" again
The Netherlands:
💡Partial lockdown for atleast three weeks
💡Bars and restaurants forced to close at 8 pm
💡Hospitals in Limburg have warned they are heading straight for a "healthcare blockage"
In Bulgaria:
💡Hospitals forced to suspend all non-emergency surgeries to treat influx of Covid patients
💡Protests against school children to be tested once a week for in-person classes to resume
💡23% double vaccination rate
Quicker Bites:
Covid-19 cases are on the rise with Thanksgiving weekend around the corner, CNN reports.
Australian Open confirms player will need to be fully vaccinated in order to compete.
Biden administration to buy 10mn courses of Pfizer Covid pill.
El Salvador plans first Bitcoin city, backed by Bitcoin bonds.
Adele releases new album 30.
Harry Potter and the Philosopher's Stone turns 20.
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