March Three This midweek Fix goes deeper on everything retail - DTC / DNVB/ O2O/ ecommerce etc. We aim to give everyone involved in this vibrant new economy insight and tips that help make your business grow. How are we doing? - hit reply.
Iconic Merchants - Leilas —the best groceries in London Lockdown?
Like Web says, the interesting Merchants are challengers - and the main difference (and advantage) over the incumbents is the by any means necessary attitude.
A great example of a modern Merchant is JayZ, who got into the Champagne business after racist remarks by the owner of Cristal. The brand he invested in (and subsequently bought) is Armand de Brignac — sometimes called Ace of Spades — and LVMH have now bought a 50% share in the business. Great example of how Influencers can work.
Action? Can you classify your competitors by challengers vs incumbents?
With its latest raise, Buy Now Pay Later pioneer Klarna is the second most valuable fintech firm globally. The $1billion raised is earmarked for acquisitions and the founder describes the market;
They are deeply embedded in the Merchant world - their app has grown the services offered to help shoppers and retailers. It’s no surprise that they have partnered with another Swedish Tech Mafia brand Bambuser to offer Live Streaming
Action? How can you test livestreaming? Could you try it on Instagram to start?
So much happening in Grocery here. We covered the launch of Weezy, ASAP, WeBother and GetIr a month ago and looked at Zoom from Ocado. Now we see a European wave; Flink from Berlin, Crisp from the Netherlands and Rohlik from Prague have all raised money for expansion.
A new media income stream is emerging for retailers that we believe has the potential to prove to be a meaningful, and largely under-appreciated, offset to e-com costs while having reverberations (often negative) up the value chain and into CPG manufacturers and their legacy media partners.
I think this is a great model for all parties. The merchant earns more revenue and benefits from the sales driven by the ads. The brands benefit from a very efficient way to maximise sales through this retailer. And customers get useful ads that help them choose what to buy. What's not to like?
Facebook have a new study on The Full Funnel approach - working with GroupM to dispel the myth that brand and performance are two completer separate things. The study shows that brand drives short term sales too. We know that every action a brand makes can have a brand effect and can drive action.
Action? How many platforms are you testing and learning on?