Wednesday Jun.29, 2022
📱 Period data privacy
Tracking raises new concerns(Toronto Star / Getty Images)
Hey Snackers,
Bed Bath & Beyond’s feeling the heat — and so are its shoppers. Analysts accused the bedding behemoth of turning off A/C in stores to save $$ as sales plummet. BB&B said any change in store temp didn’t come from corporate.
Stocks sank following news that consumer confidence continues to sag. Short-term optimism for the US economy dropped to its lowest point in nearly a decade last month. On the plus side: America’s trade deficit narrowed to its smallest level this year as US exports rose to a record $176B.
Tracked
Period-tracking apps scramble to anonymize user data over concerns that states could use it in potential abortion cases
Ditched the app... But probably not the data. People are deleting their period-tracking apps in response to the decision to overturn Roe v. Wade. Social media posts have sparked fears that menstruation data could be subpoenaed by authorities in states where abortion is outlawed and used as evidence in potential criminal cases. Now, fertility apps are taking steps to anonymize user data.
- Flo, the #1 period-tracker, said it’ll launch a feature called “Anonymous Mode” to give users the option of removing their personal info.
- Clue, another popular period and fertility app, saw a 2,200% boost in downloads over the weekend after saying that it won't share sensitive data with states.
- Natural Cycles, the first FDA-approved birth-control app, is trying to build a “completely anonymous experience for users.”
- Apple says data from its popular health app already can't be shared or sold since it's end-to-end encrypted.
Sensitive info… Millions of women, transgender, and nonbinary people rely on these apps to help them track their periods, avoid pregnancy, or become pregnant. But unlike data shared with healthcare providers, data from health apps isn’t typically HIPAA protected. Now, app developers are scrambling to ensure that they don’t have user-specific info to share in the first place.
Fertility could be the next frontier… in the privacy wars. Sharing and selling app data is a long-standing (and long-criticized) practice, usually done for ad purposes. Now, it’s not just period apps that could be caught in the privacy thorns: there’s a possibility that prosecutors could seek data on everything from pregnancy test purchases at pharmacies to ovulation kits on Amazon — and potentially even messaging and location data from social apps like Facebook.
Whi-sky
"Whiskey-vesting" is driving record sales for duty-free liquor brands as demand for alt-assets gains steam
Duty-free essentials… Perfume and hundred-year old bourbon. Global duty-free sales are up 34% from peak pandemic as returning travelers make pre-flight purchases — tax free. But one product is winning in terminals: whiskey accounts for the largest share of the duty-free liquor market, with shoppers even flying to specific airports for coveted collections.
- $817K: How much one collector paid for a set of the high-end Macallan Six Pillars Scotch whiskey at Dubai’s International Airport
- $500K: What one traveler paid at Istanbul's airport for an ultra-rare Japanese whiskey in January..
Birkin-vested... High-end malts aren’t the only luxury products prospering at duty-free and other stores. Demand for luxe goods in general has been soaring.
- Designer bags: Chanel’s classic Medium Flap bag is $2K pricier now than it was in January 2021. Hermes’ Birkin bag prices rose 38% in 2020.
- Luxury watches: Are a hot commodity as demand outpaces supply. A Rolex could cost 10% more than last year, and annual returns for Rolly collectors popped 33% last year.
- Vintage cars: A used 1986 Ford Bronco will run you 48% more than last year — and nearly 3X more if it’s in excellent condition.
When stocks go south, alt-investments can rise… The ultra-rich have the luxury of turning to non-traditional assets (think: fine art, collectibles) to store cash during econ downturns. But over half of all Americans are interested in alt-investments. Now, startups like Vinovest and Masterworks are giving more people a chance to invest in a high-end wine or a Bansky painting — without spending six figures. But like traditional investments, alt-investments carry risk. Prime example: alt-investment crypto has tanked along with the stock market.
What else we’re Snackin’
- Max: CVS and Rite Aid are limiting sales of Plan B pills to three per person. Demand for emergency contraceptives has spiked since SCOTUS overturned abortion rights last week, while supply has dwindled.
- MyFi: SpaceX said that 5G expansion would make its Starlink satellite internet service “unusable” for most customers, and accused TV giant Dish Network of crowding its radio frequencies.
- Nudge: California’s considering a bill to let state attorneys sue giants like Meta, TikTok, and Snap for features that are “addictive” to kids. If the bill passes, tech giants could be liable for financial damages.
- AUX: "Party houses” are over: Airbnb made its global ban on parties permanent. It likely won’t sag Airbnb's sales, which have surpassed 2019 levels since it started prioritizing long bookings over short.
- DNPL: Is the new BNPL. “Drive now, pay later” startup Tenet raised $18M to offer cheaper loan financing for electric cars. Meanwhile, Congress’ plan for bigger EV tax credits is hitting traffic.
Wednesday
- Earnings expected from Paychex, General Mills, McCormick & Co., MillerKnoll, and Bed Bath & Beyond
Authors of this Snacks own: shares of Amazon, CVS, Apple, Ford, and Snap
ID: 2266070
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