Value, Borders, and a $2.25B Bet

Good morning, ! This week we’re diving into the future of Consumers Value-Seeking, cross border is the new normal for European eCommerce B2B retailers, and Clorox is acquiring GOJO Industries for $2.25B in cash.  

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TREND OF THE WEEK

Value Seeking Is Structural, Not Cyclical

Consumer value seeking is no longer a short term reaction to inflation. It is becoming a durable operating reality. In a recent Deloitte survey of executives, 75% believe today’s value driven consumer behavior represents a structural shift that will persist for the long term. Only 23% view it as cyclical and likely to ease as conditions improve, while just 2% say it is too early to tell .

That split matters. Executives are effectively signaling that price sensitivity, deal hunting, and trade down behavior are not tied to a single macro cycle but embedded in how consumers now make decisions. This reframes value from a defensive tactic to a core brand attribute. It also explains why discount channels, private label, resale, and prepaid formats continue to gain share even as headline inflation cools.

For operators, this raises the bar. Temporary promotions will not fix structurally cautious demand. The winners will be companies that redesign pricing architecture, assortment, and loyalty around everyday value without destroying margins. For investors and corporate development teams, this reinforces why scale, sourcing leverage, and value oriented brand positioning are becoming prerequisites rather than differentiators.

Why it matters: If three quarters of executives are right, consumer value seeking is not reverting. Business models need to adapt accordingly. (More)

ECOMMERCE

Cross-Border Is the New Normal

B2B eCommerce quietly crossed a line—and most retailers didn’t notice until they were already over it. 72% of B2B sellers now transact internationally, with cross-border orders averaging 41% of volume. What used to be “expansion” is now just table stakes.

Europe is doing the heavy lifting. Germany and France lead as destination markets, reinforcing how deeply intra-European trade is embedded into B2B buying behavior. The U.S. remains a critical hub, keeping transatlantic commerce very much alive.

But global demand doesn’t mean global readiness. Delivery costs, returns, and customs complexity are still the top friction points. That’s forcing a rethink: logistics isn’t a cost center anymore—it’s a growth lever.

The takeaway: Winning cross-border B2B isn’t about where you sell. It’s about whether your shipping, compliance, and returns can keep up. (More)

DEAL OF THE WEEK

Deal of the Week: Clorox Buys Purell at Scale

Clorox is acquiring GOJO Industries, maker of Purell, for $2.25B in cash, or $1.92B net of tax benefits, marking one of the most consequential health and hygiene deals in recent consumer M&A. The transaction values GOJO at 11.9x adjusted EBITDA, or 9.1x including run rate synergies.

GOJO brings nearly $800M in annual sales, a 5% three year CAGR, and a structurally attractive model. More than 80% of revenue flows through B2B distribution, anchored by roughly 20M installed dispensers that drive recurring, high visibility demand. Purell holds the number one share position in hand sanitizer across both B2B and retail, giving Clorox immediate category leadership beyond surface cleaning.

Strategically, this deepens Clorox’s Health and Wellness segment, its fastest growing and most profitable unit, while pairing Clorox’s consumer brand building and retail reach with GOJO’s institutional footprint. Management expects at least $50M in cost synergies, with growth and margins accretive after year one.

Advisors: Centerview Partners advised Clorox with Cooley LLP as legal counsel. Harris Williams advised GOJO Industries with Jones Day as legal counsel. (More)

BROUGHT TO YOU BY THE GIFT CARD CAFE

The Quiet Comeback of Prepaid Value

As BNPL fatigue sets in, a quieter liquidity tool is stepping into the spotlight: Gift Cards. Unlike Buy Now, Pay Later—which still introduces credit, deferred payments, and debt stacking—gift cards are emerging as a cash-flow control mechanism, not a financing shortcut.

Consumers are increasingly using prepaid stored value to manage everyday spending. Loading gift cards for coffee, groceries, subscriptions, and digital services creates a built-in budgeting envelope—one that offers predictability without interest, fees, or repayment pressure. In a tighter economic environment, that distinction matters.

This shift reflects a broader behavioral change. Gift cards are no longer just for gifting—they’re becoming purposeful liquidity tools, helping consumers segment spending, avoid impulse purchases, and stay within limits. With seamless digital wallet integration, accessing and tracking that value has never been easier.

For brands, the upside is compelling: upfront cash flow, delayed revenue recognition, stronger loyalty ties, and increased repeat engagement.

While BNPL reshapes when consumers pay, gift cards are quietly reshaping how they plan—and that may prove even more powerful. (More)

CONSUMER BEHAVIOR

Mars Needs Marketers, But Women Scroll First

If you're still treating social media as a gender-neutral battleground, you're doing it wrong.

Want your next campaign to actually land? Women dominate the platforms where attention lives: Instagram (55% vs. 44%), TikTok (42% vs. 30%), and Snapchat (28% vs. 22%). Meanwhile, men are busy arguing on Reddit and X, skewing heavily toward real-time debate and commentary.

The only bipartisan platform? YouTube, used by over 80% of both genders, making it the Switzerland of digital engagement. For marketers, the implications are clear: match the message to the medium—and the gender profile behind the screen. (More)

INTERESTING ARTICLES

PUBLISHER PODCAST

No Off Button: Work/Life Lessons To Reach 700,000 Subscribers And #1 In Your Niche

Champions don’t slow down. They don’t wait for shortcuts. And they definitely don’t have an off switch. No Off Button is where Aram sits down with founders and creators who treat their craft like a long game—obsessive execution, high standards, and zero excuses.

This week’s guest is Rocky Xu, a finance filmmaker who built a 700,000+ subscriber audience and became #1 in his niche by skipping the creator playbook entirely. From day one, Rocky approached YouTube like a media company—producing Netflix-level documentaries from his bedroom and focusing on assets that compound, not viral hits.

The conversation digs into lessons PE minds will recognize instantly: why consistency beats hacks, why distribution is power, why AI is a tool—not a replacement for judgment—and why real value is built by owning evergreen catalogs, not chasing weekly spikes.

Why it matters: this is capital allocation and brand-building logic applied to media. Long-term thinking, defensible taste, and doing the work when no one’s watching.

Watch the Episode

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Abraham Lincoln