🛒 Instacart hearts TikTok

That viral recipe for baked feta pasta… is headed straight from TikTok to your Instacart. This week, Instacart launched a “shoppable recipes” feature that lets TikTok stars like Jason Derulo tack on shopping lists to food videos, so that fans can buy the ingredients for his giant doughnut burgers. Here’s how it works:

• Social shopping: You can now add recipe ingredients to your Instacart by clicking a button in a TikTok. It’s already open to some creators, and a wider rollout is coming.
• Several ways to shop: Instacart’s also teaming up with BuzzFeed’s Tasty and Delish owner Hearst to add shopping buttons to recipes on their cooking sites.

Content is all about consuming… and Instacart wants to translate video consumption into food consumption. By making it easier for shoppers to add ingredients to their carts while browsing social media, Instacart hopes to differentiate itself from grocery deliverers like Blue Apron, Shipt, and FreshDirect, as well as bigger rivals like Amazon and Walmart.

• Crowded field: Instacart’s the second-largest online grocery deliverer after Walmart, but is expected to lose market share to Uber and DoorDash as they get deeper into the grocery game.
• Imminent IPO: Instacart is expected to go public this year, after delaying earlier plans to focus on building out its ad platform.

Run the numbers… This Tuesday marked Women’s Equal Pay Day — the date women’s earnings finally catch up to what men earned last year. That's nearly 15 months to make what men made in 12. Put another way, in a 9-to-5 job, women start working for free at 2:40 p.m.

• The gap starts early: A 20% pay gap is apparent in starting salaries for recent college grads, even before motherhood and other factors come into play.
• Women’s work: The gender pay gap is often dismissed as a consequence of women working more jobs in lower-paying fields like teaching. But there’s research to suggest that when women enter higher-paying industries dominated by men, the pay drops for everyone.
• Pandemic accelerant: Globally, 64M+ women lost their jobs in 2020, which resulted in $800B in lost income. There are now about 2M fewer women in the workforce than pre-pandemic (cue: she-cession).

Mind the gap… Women have made some gains in pay equity. Pew estimates that the average pay gap for young workers shrank by half from 1980 to 2020. But when race is taken into account, the gap still looks more like a chasm. Black women will have to work until September 22 to catch up to what men made last year.

• Mooch: Flix freeloaders, take note: Netflix is cracking down on password sharing in some Latin American countries, charging customers $3 a pop to add non-household profiles.
• 00-Zon: James Bond is officially part of Amazon after a deadline passed for US regulators to challenge its acquisition of MGM. The Zon will use MGM’s deep TV and movie catalog to beef up Prime Video.
• Patty: Impossible Foods founder Pat Brown is stepping down as CEO, and a former Chobani exec is stepping in. The plant-based-meat biz is reportedly chewing over an IPO, even as rival Beyond Meat struggles.
• Ship: FedEx had a rough quarter, blaming Omicron and labor expenses for not meeting expectations. FedEx has been slower than UPS in converting higher sales from the online-shopping boom into profits.
• Squint: Warby Parker said sales for the holiday quarter came in weak. The former DTC darling blamed the Omicron variant for $5M in lost sales late last year — typically the best period for eyewear.

• Earnings expected from Orla Mining

Authors of this Snacks own: Bitcoin and shares of Walmart, Uber, Amazon, and Netflix

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