Blockchain is best known as the secure technology driving crytocurrencies such as bitcoin. Because of its security and the speed/accuracy of exchanging data, blockchain is increasingly being considered by retail marketers worldwide.
One key function of blockchain is to identify the supply-chain provenance of a product and track its movement through the distribution network. This is extremely important as retailers source products from around the world.
Carrefour, the French hypermarket retailer, is planning to implement blockchain for fresh foods such as tomatoes and chickens. This will enable the retailer to trace back to the source any possible problems.
Consumers will be reassured that Carrefour can quickly and accurately identify where fresh foods come from--and have confidence about the source. With 33,000 stores in 12 nations, blockchain will be a plus for Carrefour's ability to manage its fresh foods supply chain.
'The key thing for us as Carrefour is to be able to say when there is a crisis that we have the blockchain technology, so we are able to trace products and tell the story of the products', says the retailer's Secretary General.
Wednesday, 24 October 2018
Wednesday, 17 October 2018
Hire or buy clothing?
Two US entrepreneurs set the trend in motion when they opened Rent the Runway, a designer clothing-for-hire business in 2009. The idea was to offer women (and, later, men) the opportunity to hire a fancy outfit for several days, at a fraction of the purchase price.
The one-time hire price includes shipping plus cleaning as a complete package. Just choose an outfit, click to hire and return postage-free after the special occasion. Rent the Runway and other US rivals also offer subscription pricing, so customers can choose a certain number of everyday outfits per month at one low for-hire fee. In other words, for-hire isn't just for special occasions.
Now clothing for hire is going global. UK businesses that offer designer frocks include Girl Meets Dress. 'Customers had never hired before, so the main thing was getting them to do this', says Girl Meets Dress founder Anna Bance, whose data systems had to account for the time clothing spends in transit and in cleaning between hire periods.
In Australia, GlamCorner offers women's designer clothing for hire. The company, founded in 2012, markets via email and digital campaigns. It's experienced significant growth as more customers try for-hire clothing and appreciate the benefits.
In China, YCloset is growing as it educates the market about the benefits of clothing-hire and erases doubts about wearing clothing previously hired by others. A social-media influencer recently created a viral video in which she visited YCloset's cleaning facility, to reassure customers that any clothing they hire will be quite clean and presentable. Will consumers choose to hire more clothing or will they remain committed to buying?
The one-time hire price includes shipping plus cleaning as a complete package. Just choose an outfit, click to hire and return postage-free after the special occasion. Rent the Runway and other US rivals also offer subscription pricing, so customers can choose a certain number of everyday outfits per month at one low for-hire fee. In other words, for-hire isn't just for special occasions.
Now clothing for hire is going global. UK businesses that offer designer frocks include Girl Meets Dress. 'Customers had never hired before, so the main thing was getting them to do this', says Girl Meets Dress founder Anna Bance, whose data systems had to account for the time clothing spends in transit and in cleaning between hire periods.
In Australia, GlamCorner offers women's designer clothing for hire. The company, founded in 2012, markets via email and digital campaigns. It's experienced significant growth as more customers try for-hire clothing and appreciate the benefits.
In China, YCloset is growing as it educates the market about the benefits of clothing-hire and erases doubts about wearing clothing previously hired by others. A social-media influencer recently created a viral video in which she visited YCloset's cleaning facility, to reassure customers that any clothing they hire will be quite clean and presentable. Will consumers choose to hire more clothing or will they remain committed to buying?
Wednesday, 10 October 2018
How Tesco competes with deep-discount retailers
Tesco has a new weapon in its battle with deep-discount retail chains Lidl and Aldi.
It just opened two discount-price stores in a new chain it calls Jack, for Tesco's founder, Sir Jack Cohen. Short name, easy to remember, limited assortment, low prices, local merchandise. And the store openings coincide with Tesco's celebration of 100 years of low prices.
Most of the products will be branded own-label, but some will be well-known global brands like Coca-Cola. To reinforce the British origin of local merchandise, and the chain's British heritage, Jack signage features the Union Jack.
Tesco's CEO says the target market is 'economically challenged [consumers] that need a bargain and the affluent shopper that wants a bargain'. Adding a 'treasure hunt' element, the centre aisle of each Jack's store displays WIGIG promotions--bargain products that will go quickly, so 'when it's gone, it's gone'.
Lidl and Aldi have challenged Tesco and other full-service supermarkets in recent years, attracting price-conscious consumers willing to buy what they want at low, low prices in a no-frills retail atmosphere.
A few months ago, Tesco closed its Tesco Direct business, which sold non-food products directly to consumers. That business had been operating for nearly 12 years but was not yet profitable. Will Jack's enable Tesco to compete effectively in a highly pressured retail environment--and be profitable at the same time?
It just opened two discount-price stores in a new chain it calls Jack, for Tesco's founder, Sir Jack Cohen. Short name, easy to remember, limited assortment, low prices, local merchandise. And the store openings coincide with Tesco's celebration of 100 years of low prices.
Most of the products will be branded own-label, but some will be well-known global brands like Coca-Cola. To reinforce the British origin of local merchandise, and the chain's British heritage, Jack signage features the Union Jack.
Tesco's CEO says the target market is 'economically challenged [consumers] that need a bargain and the affluent shopper that wants a bargain'. Adding a 'treasure hunt' element, the centre aisle of each Jack's store displays WIGIG promotions--bargain products that will go quickly, so 'when it's gone, it's gone'.
Lidl and Aldi have challenged Tesco and other full-service supermarkets in recent years, attracting price-conscious consumers willing to buy what they want at low, low prices in a no-frills retail atmosphere.
A few months ago, Tesco closed its Tesco Direct business, which sold non-food products directly to consumers. That business had been operating for nearly 12 years but was not yet profitable. Will Jack's enable Tesco to compete effectively in a highly pressured retail environment--and be profitable at the same time?
Thursday, 4 October 2018
Sleeping out to raise money on Byte Night
Founded by leaders in the UK tech sector, Byte Night has a strong social media marketing element. The poster above shows not only the event's web address but also its Facebook, Twitter, and YouTube accounts. There is also a LinkedIn presence to catch the eye of professionals.
Byte Night's promotions begin months in advance, allowing time for companies and individuals to register and to recruit friends and associates for the fundraising effort. The event is on special event calendars and promoted by other nonprofits, councils and sponsors (Royal Mail, for instance).
In 2018, 1,800 sleepers are expected to participate. Wishing everyone a successful sleep out and successful fundraising!
UPDATE: The 2018 sleepout raised £852,999 for charity. Congratulations!
Wednesday, 3 October 2018
Brand marketing: relevance and experience
According to a recent ranking, the three most relevant brands in the UK are: Apple, Lego and Playstation.
More than 10k consumers responded to the survey, saying that--for the third consecutive year--Apple is the most relevant brand in their lives. What is relevance? According to the Brand Relevance Index, it means 1) consumer obsession, 2) inspiration, 3) innovation and 4) pragmatism.
Lego is #2 in this survey, a brand that understands consumer behaviour and knows how important personal experience influences relevance. Lego is using event marketing and other in-person experiences to compete in newer markets such as Hong Kong. The Lego House in Denmark is an in-person brand experience built from 25 million plastic Lego bricks.
In fact, more brands are marketing themselves through experiences. For instance, Converse--which makes athletic shoes--refashioned a London hotel into a limited-time brand experience earlier this year.
Watch for more brand marketing via experiences during the holiday shopping season as companies seek to build awareness, preference and purchasing.
More than 10k consumers responded to the survey, saying that--for the third consecutive year--Apple is the most relevant brand in their lives. What is relevance? According to the Brand Relevance Index, it means 1) consumer obsession, 2) inspiration, 3) innovation and 4) pragmatism.
Lego is #2 in this survey, a brand that understands consumer behaviour and knows how important personal experience influences relevance. Lego is using event marketing and other in-person experiences to compete in newer markets such as Hong Kong. The Lego House in Denmark is an in-person brand experience built from 25 million plastic Lego bricks.
In fact, more brands are marketing themselves through experiences. For instance, Converse--which makes athletic shoes--refashioned a London hotel into a limited-time brand experience earlier this year.
Watch for more brand marketing via experiences during the holiday shopping season as companies seek to build awareness, preference and purchasing.
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