Commerce Brief #17
Stay up-to-date on commerce tech-news, Interlace portfolio companies, and more.
Welcome to the Commerce Brief #17.
As we approach the year's end, with the Mid-Autumn Festival now behind us, the commerce/retail industry is gearing up for the most hectic period of the year: the holiday season.
In this issue, we delve into key Interlace portfolio achievements, explore the ever-evolving commerce and retail-tech sectors, and examine the intersection of commerce and community in the context of the broader issue of loneliness and seclusion.
Enjoy
A loneliness Epidemic
Amidst today's digital landscape, a profound issue has surfaced—the loneliness epidemic, affecting both the young and elderly. Paradoxically, technology, while connecting, has bred disconnection. Online interactions supplant genuine face-to-face bonds, amplifying isolation. Commerce, retail, and trade offer solutions, fostering authentic human connections. Physical stores can evolve into community hubs, encouraging spontaneous interactions. Retailers hosting events and workshops create platforms for meaningful exchanges, resonating with those seeking substance over superficiality. Supporting local businesses bolsters community unity, countering the loss of individuality. Trade events provide spaces for cultural exchange, forging connections among shared interests.
(For more on this topic, read this piece on the IRL retail renaissance, and check out Interlace portfolio company, Indie, which is helping local operators modernize to create viable community retail hubs.)
In this digitally driven age, reimagining commerce as a vehicle for real-world interaction counters isolation, addressing the yearning for connection and meaning that mimic elements of faith.
How we Gather: Millennials show declining religious affiliation, with about one-third not part of faith communities, and just 10% actively seeking one. Many opt for "spiritual-but-not-religious," reflecting disaffiliation's trend. Despite lower church attendance, spirituality remains significant, with prayer and valuing religion. This shift signals a move from institutional to personal spirituality, driven by a quest for meaningful experiences and connections. Lacking these bonds contributes to rising suicide, isolation, and depression rates. Amid religious disengagement, alternative avenues emerge. "How We Gather" explores several themes related to gathering and presents 10 case studies on the topic.
Life after lifestyle: The article critiques the modern obsession with "lifestyle," where identities are tied to brands, consumption, and image projection. Instead of fostering autonomy, this fixation leads to anxiety and superficiality. Algorithms and branding reduce individuals to demographic subsets, perpetuating addictive behaviors and constant comparison. The pursuit of trivial choices overshadows meaningful values. The article argues that true fulfillment arises from virtue, character, and contribution, not lifestyle consumerism. Escaping this trap requires self-knowledge, integrity, creativity, and service. The author advocates for a shift towards "life after lifestyle," prioritizing substance, purpose, and rejecting shallow identities and engagement-driven algorithms. In essence, the article calls for focusing on character development and moral purpose, rather than superficial lifestyle markers.
Commerce news
Whole Foods to deploy Amazon One chain-wide: Amazon-owned Whole Foods is broadening its deployment of the Amazon One technology as other retailers have adopted the system as a way to allow shoppers to identify themselves and pay for products.
On why Netflix will open physical stores: Netflix plans to open its first permanent physical locations in the U.S. by 2025 featuring mini theme-parks that offer food, drinks, merchandise, and immersive installations based on popular shows like Squid Game and Stranger Things. This move is part of Netflix's strategy to use physical retail spaces as marketing tools to enhance fan engagement with its streaming service.
The end of free returns is unsurprisingly dissuading ecommerce shoppers: Charging fees for online returns may be curbing the volume of returned goods for retailers, but it is also leading to customer losses, with about a third of companies reporting a decline in customer numbers since implementing return fees.
& ICYMI
Bain Capital Venture’s most innovative commerce tech venture back companies (July 2023)
BCG’s take on 1st party data (August 2023) and how it will transform retail.
Bain & company on the “The metaverse isn’t dead, but it’s time to take a more sober view of its future” (August 2023)
Interlace Portfolio (in the) news
Promoted has a dramatically better search. The demos are 🤯
Rabot was mentioned on Modern Materials Handling.
Queenly demonstrated technicality with their generative AI application to accelerate listing - covered by Digital Commerce 360.
Anne-So from Ravacan was featured in the 2023 edition of Gaingels 100, which showcases venture-backed LGBTQIA+ founders.
Salted announced their Series B, covered by Techcrunch.
Alloy’s CEO, Sara Du, shares her thoughts on her own SubStack.
Throwback Thursday (everyday)
7 months ago, the genius Arnaud de Lacoste published an insightful piece (in French) about how Blockchain and GenAI can collaborate to better serve “truth”.
Laurence Faguer’s summer compilation is a 6 months replay of Commerce Tech S1 2023. Get it here for a few $ (or drop us an email at hello@interlacevc.com and).
From the YC school, always relevant despite such a transformation within the VC “factory”: Kevin Hale - How to evaluate startup ideas.
Bits of culture (and more)
From Hardly Strictly Bluegrass festival this year, we will remember Valerie June. Unexpected. “A musician, singer, songwriter, poet, illustrator, actor, certified yoga and mindfulness meditation instructor, and author”. Try her on favorite music streamer and step in Tennessee with style.
Highly recommended, as it reminds us the best pages of Guy Delisle, the graphic novel “This Country - Searching for home in (very) rural America” from Navied Mahdavian.
For the upcoming holiday gifting season, consider Procure impact. Procure Impact is similar to Etsy or Faire, but with impact. We fully embrace this team’s vision.
Thank you for reading.
If you happen to pass through NYC or San Francisco and would like to meet, then please reach out to hello@interlacevc.com
Cheers,
The Interlace team