November 18, 2019
From Deepak’s neuroscience desk, starting your day with these eight things will result in a more positive day. Also, don’t undermine the power of the endowment effect in influencing your preferences and decisions.
The Edge is off for Thanksgiving – see you in December!
BRAND & MARKETING
- Wharton marketing professor Cait Lamberton discusses the implications of the sharing economy on marketing.
- P&G’s Chief Analytics and Insights Officer feels that analytics and insights suppliers are falling short when it comes clients; cost, insight and data needs.
- HBR provides a perspective on how we should measure the digital economy.
- The Marketing Journal featured Kantar alum Emmanuel Probst, digging into key findings and case study examples from his latest book.
- IPSOS recently shared its perspective on the brand vs. performance media debate, advising, unsurprisingly, that leveraging both as well as unified marketing measurement is the best strategy for both short and long-term results. Related, how brands can shift their marketing strategy as investors begin to prioritize profits over growth.
- Kantar’s Casey Ferrell suggests that influencer marketing may very well have reached its peak – if so, what’s next?
- Philip Stoten argues that customer value management is absolutely critical for good marketing.
- The Economist Group’s Wanted: CMOs with 20/20 Vision research finds that CMOs are increasingly out of sync with other members of the c-suite on key business decisions and customer priorities.
- As Kantar research proves, consumers are increasingly interested in more than just products and services – they seek purpose and relevance in the brands they choose.
- JUST Capital’s annual ranking features America’s largest publicly traded companies performing the best on issues that matter most in defining just business behavior today.
RETAIL, SALES & SHOPPER
- Kantar’s annual PoweRanking is hot off the press. Leaders Walmart and PepsiCo have anticipated and managed the long-term retail climate with skill and foresight.
- Consulting POV – Our theme of Retail Climate Change will continue to be explored at our annual Insight Forum on December 11th and 12th in Atlanta!
- Walmart is embracing Apple’s Siri to extend its Walmart Voice Order capability, which also includes product recall for repeat orders.
- Consulting POV – A smart twist and counter to Amazon’s ability to do this with Alexa, as profiled by our team here.
- Facebook Pay just launched as a new payment system for WhatsApp, Instagram and Facebook which will allows for sending money to friends, shopping for goods, and more.
- Consulting POV – An idea approximately 10,000 times easier to execute than their own cryptocurrency. This idea could empower Instagram commerce in an interesting and powerful way.
- Amazon is planning to launch a new grocery store format, distinct from Whole Foods and not using Amazon Go’s cashierless tech, next year. Meanwhile, a look at some of the things keeping Jeff Bezos up at night.
- Consulting POV – Amazon would benefit greatly from physical stores that carry more conventional grocery items than Whole Foods does. Media and third party management are clearly business problems for Amazon but the idea Bezos is not sleeping at night seems farfetched 😊. Our comprehensive overviews on Amazon are available here.
- Despite Single’s Day gross merchandise value being 268.4 billion yuan (over $38.3b), Jack Ma wasn’t impressed; he attributed worse performance than expected to hot weather and the huge shopping event being on a weekday.
- Consulting POV – Our coverage details this “disappointing” result. Suffice it to ay say don’t share Jack’s pessimism. Singles Day on its own as one day of operation would be the 15th largest retailer in the USA, and the 34th largest in the world…they sold more on November 11th than Sainsbury’s did in 2018.
- Wayfair has added new AR features to its mobile app to improve consumers’ shopping, planning, and searching experiences.
- Consulting POV – Cool feature that replicates functionality IKEA has had for some time.
- From Sainsbury’s debating the future of till-free shops to Alibaba reaffirming its commitment to smartphone-assisted retail, the future of in-store shopping is undeniably digital.
- Tik Tok is starting to explore social commerce.
- Consulting POV – Platforms like this and YouTube are incredibly logical retail platforms, and in China the integration between content and commerce is naturally much closer due to the integrated nature of the Ali and WeChat (Tencent) platforms.
- Mediapost reports that 60% of US consumers are already dissatisfied with their holiday shopping experience this year – with frustrations only likely to increase the more one shops.
- Consulting POV – Unsurprisingly, the world’s largest supplier of shipping-related printing services (Pitney Bowes, who actually funded the research) discovers that pre-printed labels are the key to omni-channel happiness 😊. As always, watch surveys that are trying to sell something – suggesting that dissatisfaction amongst shoppers who shop online daily is highest is a bit like saying a restaurant is so crowded nobody goes there anymore.
ON THE HORIZON
- Amazon at #1 of the BrandZ US Top 100 ranking is not hugely surprising, but fastest risers Instagram, Pinterest, Salesforce, and Chipotle reached new heights by taking a decidedly different approach from other brands in their categories to win over the hearts (and wallets) of consumers. More on Chipotle’s turnaround story below.
ON THE GROUND
- Not-to-miss consumer trends manifesting across the global marketplace. Each week, Kantar’s Cultural Streetscapes Microsite will power unique insights on value-driven consumer innovations emerging in a key trend area.
- This week, our Global Streetscapes Network shares three global marketplace innovations around crystal healing.
- Shine Bottle, a Polish lifestyle brand, has created bottles for water with natural crystals to enhance the water with positive energy. This reflects the new trend of using cosmic energy through stones or practice of yoga or meditation to release negative energy and support the cleansing of the mind and body.
- OY-L’s Crystal Eye Serum blends two giants of the beauty world – serums and stone face rollers. This product harnesses the uniting and calming properties of amethyst crystals to apply a vegan serum made on the natural beauty powerhouses of Tremella, cucumber, and watermelon seed oil.
- YERBATERÍA is a Colombian business focused on herbalism and natural magic, dedicated to extracting the medicinal and magical properties of plants and crystals to develop herbal products that can be used in everyday life to take, eat, anoint, burn or carry as an amulet. Colombian consumers are finding in ancestral practices answers that do not find in modernity, above all there is a tendency to rediscover the natural recipes used to cure diseases and improve connection with nature.
- Rent the Runway and Nordstrom are teaming up to co-create new products, incorporate Nordstrom inventory into Rent the Runway’s system, and “reinvent retail.”
- Bob Iger recently explained to Adam Grant why Disney bet big on streaming.
- Google partnering with Citigroup and Stanford Federal Credit Union to break into banking via introduction of checking accounts.
- Express meets CBD, wellness and JOMO with its new online wellness brand, UpWest.
- Chipotle’s turnaround – it’s one of the US’ fastest growing brands this year! – is rooted in its re-familiarization with the human side of its core consumer, quickness to act on key trends, and product and experience innovations.
- Ideo gives digitally-native companies guidance on how to gracefully and successfully mature into their adult stage, and here’s some advice for new D2Cs hoping to hit the market soon, leveraging all the lessons learned from predecessors.
- Head of Global Media Accountability at McDonald’s dishes on how the global QSR assesses media ROI and does MMM, marketing mix modeling, more broadly.
- Kantar outlines the new, more modern way to do consumer research.
- Six tips for developing and landing an international growth marketing strategy smoothly.
- With 80% of consumers were more likely to do business with a company offering well targeted, meaningful, and personalized experiences, the CEO of GAIN offers tips to prepare for hyper-personalization in marketing.