蘑菇AV

Direct-to-consumer (D2C) ecommerce is evolving, driven by Gen Z鈥檚 shopping habits and the rise of powerful AI tools.

The news: Pharma commercialization company Eversana bought digital health tech Waltz Health and is creating direct-to-consumer (D2C) and direct-to-payer models that cut out rebate negotiators, or pharmacy benefit managers (PBMs). Our take: D2C sales are the most palatable of the Trump administration鈥檚 drug pricing policies for pharma companies. But with limited in-house tech expertise, drugmakers need to partner with service providers. Health tech companies that offer D2C end-to-end solutions can create new revenue streams, while helping pharmas cater to Trump and patients鈥� demand for affordability and convenience.

The news: BlinkRx debuted a new quick startup direct-to-consumer (D2C) offering for pharma companies, on the heels of President Trump鈥檚 demand for more D2C drug distribution. Trump鈥檚 son, Donald Trump Jr, joined the board of BlinkRx in February. BlinkRx told Bloomberg it did not consult with Trump Jr. nor anyone in the Trump administration about the new offering. The takeaway: Pharma companies were already looking at new access models and ways to build direct connections to patients, but with the now pressing Trump demands, there鈥檚 new opportunity for digital health companies to offer vetted plug-and-play models.

ESPN has launched its long-awaited direct-to-consumer subscription app, consolidating 12 networks and sports rights under one platform. Two tiers鈥擡SPN Select at $11.99/month and ESPN Unlimited at $29.99/month鈥攐ffer up to 79,000 live events annually, with Unlimited subscribers gaining access to marquee programming like Monday Night Football and NBA games. A Disney+/Hulu bundle is also available for $35.99/month, discounted in year one. Features include multiview, betting tools, live stats, fantasy integrations, and an AI-powered personalized SportsCenter. The move signals an existential reset for ESPN, aiming to convert cable loyalists and younger fans while stabilizing growth in a cord-cutting era.

The news: Roche is considering a direct-to-patient (D2C) sales channel for its prescription drugs, CEO Thomas Schinecker said in its Q2 earnings call. Our take: The complex US healthcare PBM and insurance system can鈥檛 easily flip to a pure-play D2C prescription sales market. However, we think it will become a reliable channel, especially for self-pay patients. Pharma marketers can court them with special pricing deals, a la Lilly and Novo, but ensure they stay on the right side of regulators.

The news:. A new report reviewed by STAT reveals that Pfizer and Eli Lilly pay their telehealth provider partners upwards of a few million dollars. Our take: Drugmakers in the D2C telehealth market likely won鈥檛 be too worried about the report鈥檚 findings. It will be difficult for regulators to prove that a pharma company鈥檚 payment to a telehealth partner is directly tied to prescription volume. Drug brands will need to boost awareness of their D2C offerings to justify the price they pay telehealth firms, however.

The news: Rush University System for Health in Chicago is launching a subscription health model for patients seeking virtual urgent care. Our take: Legacy health systems are playing catch-up to D2C healthcare companies, and likely can鈥檛 offer a better customer experience. Telehealth is now a commodity, and success in the subscription healthcare space could come down to factors such as easy access to in-demand drug categories (e.g., GLP-1s, sexual health meds) and spending on digital channels such as social media to create brand awareness and more effectively reach younger customers.

The pivot: Warby Parker launched as a direct-to-consumer (D2C) disruptor with a compelling pitch: It would ship up to five frames to consumers鈥� homes for free, allowing them five days to try them on. But like many of the most-visited digitally native D2C brands, the eyewear company has evolved beyond its online model to include brick-and-mortar stores. With 300 stores and plans to open 45 more this year, including five Target shop-in-shops, the company is sunsetting its home try-on program in favor of in-person visits or its virtual try-on tool. Our take: Retiring its hallmark try-on program marks a pivotal moment in Warby Parker鈥檚 evolution from digital upstart to well-established national brand. While the move risks losing some home try-on loyalists, redirecting those dollars toward targeted brand-building and customer acquisition initiatives will likely yield stronger long-term returns.

The news: Direct-to-consumer (D2C) telehealth startup Remedy Meds is acquiring competitor Thirty Madison in an all-stock deal valued at over $500 million. Our take: By adding affordable weight-loss drugs to its men's and women's health treatments, the newly combined company will directly compete with Hims and Ro. However, their larger customer base will likely draw the attention of GLP-1 drug manufacturers like Novo Nordisk and Eli Lilly. Both pharma companies are actively trying to shut down the market for compounded weight-loss drugs. Transparent marketing and staying on top of potential regulatory changes to compounded GLP-1 allowance will be key to sustaining customer loyalty.

The news: President Trump sent letters to 17 pharma companies, demanding they take action to lower drug prices in the US within 60 days. Our take: We think it鈥檚 unrealistic to expect pharma companies to willingly cut their profits despite Trump鈥檚 escalated demands. Drugmakers called out in the letter will likely wait out Trump鈥檚 deadline and see what he threatens next, knowing they could always legally challenge the most-favored nation order. We also expect more pharma companies to make some of their medicines available through the D2C channel, perhaps seeing it as a reasonable good-faith concession that they hope will get Trump to back off the most-favored nation pricing.

The trend: Paper coupons are making a comeback as brands zig while their competitors zag. Direct-to-consumer upstarts like Viv For Your V, Culture Pop, and Blume are experimenting with print coupons to drive awareness and trial, per Modern Retail. The move runs counter to an industry leaning heavily digital, where advertising costs are climbing and consumer attention is fragmented. And it鈥檚 not just startups. Kroger recently introduced paper versions of its weekly digital deals after hearing from shoppers who struggle with online access, aiming to bridge the so-called 鈥渄igital divide.鈥� Our take: Brands鈥� use of paper coupons mirrors retailers like Dollar General, Neiman Marcus, and Amazon, which have experimented with print catalogs to grab attention in a digital-first world. With shoppers increasingly price-sensitive, less brand loyal, and actively seeking deals, a tangible coupon in hand may be just the nudge that turns browsing into buying in today鈥檚 cautious consumer climate.

A key inflation gauge that excludes food and energy prices picked up in July, suggesting tariff-related cost increases are being passed along to consumers. Core CPI, which strips out energy and food, rose 3.1% YoY, up from 2.9% in June. On a monthly basis, that closely watched measure rose 0.3%, the highest increase since January and up from June鈥檚 0.2% advance. Retailers and producers are exhausting their early strategies to shield consumers and will need to plan for sustained cost pressures. Some strategies retailers can take on include negotiating with suppliers on cost-cutting measures or the use of lower-cost materials, exploring investments in onshoring production to avoid tariffs, and increasing D2C sales in a bid to improve profit margins.

The news: D2C brand Quince is now valued at $4.5 billion following a $200 million funding round, per Bloomberg. That鈥檚 more than double its valuation from earlier this year and marks its second successful fundraising attempt in six months. Quince鈥檚 meteoric rise reflects the normalization of dupe culture. Shoppers are no longer making decisions solely on brand name and are gravitating toward companies that offer a compelling combination of affordability and quality.

The big idea: Pharma marketers should pivot away from TV advertising even if the government doesn鈥檛 implement a ban on D2C drug ads. Our take: Pharma is a unique industry that still benefits from linear TV. However, more drug brands should consider D2C online platforms that serve as quasi substitutes to TV commercials at a much lower cost, plus channels like influencer partnerships.

The news: UnitedHealth Group has been engaging in a series of legal tactics to silence some of the company鈥檚 loudest critics, according to a recent NYT report. Our take: UnitedHealth is more focused on defending its business than acknowledging people鈥檚 concerns and offering solutions. This won鈥檛 do anything to help its brand reputation鈥攂ut that probably isn鈥檛 a major concern for UnitedHealth right now. Similar to drugmakers, health insurers recognize that healthcare is not like a typical D2C industry, in which consumer experience is the most important measure of success.

The news: Dr. Kim Boyd, previously the chief medical officer of telehealth weight loss startup Calibrate, joins WeightWatchers as CMO as the company plans to launch perimenopause, menopause and post-menopause treatments and services for women ages 40-60 later this year. Our take: WeightWatchers will compete with several D2C telehealth for the underserved pre- and post-menopausal consumer market. However, we think its brand recognition among women ages 40-60, its long-standing weight loss support expertise and new Novo deal could catapult it ahead.

Direct-to-consumer (D2C) brands like Eyebuydirect are overcoming traditional barriers in high-consideration purchase categories like eyewear.

The news: Sens. Bernie Sanders (I-VT) and Angus King (I-ME) have introduced a bill, The End Prescription Drug Ads Now Act, that would prohibit D2C prescription drug advertising on television, radio, print, digital platforms, and social media. Our take: Despite disdain for drug commercials among consumers and lawmakers, pharma marketers shouldn鈥檛 sound the alarm just yet.

On today鈥檚 podcast episode, we discuss how to get folks to buy something they can鈥檛 go and see in a store, how D2Cs should be thinking about generative AI, and how one DTC is negotiating the tariff minefield. Listen to the conversation with our Senior Analyst Sara Lebow as she hosts Principal Analyst Sky Canaves and CEO and president of Eyebuydirect Sunny Jiang.

The news: Skims, the shapewear brand founded by Kim Kardashian, is on an expansion tear as it nears $1 billion in annual sales, per Business of Fashion. The company plans to open 16 stores in the US this year, bringing its total domestic footprint to 22. Over the next nine months, Skims expects to establish itself in seven new markets鈥攊ncluding stores in Mexico, London, and Dubai. Our take: While stores are hugely important to Skims鈥� growth, the company has several advantages over the rest of the D2C field. Unlike most other D2C companies, Skims doesn鈥檛 need to rely on its stores as billboards given its high-profile founder, who is also a fixture of its ad campaigns. Its partnership with Nike will give it access to an even larger audience and smooth its entry into the athleisure category鈥攁ssuming production delays don鈥檛 get in the way. The launch will also considerably increase Skims鈥� retail presence without needing to invest in premium real estate.