Leonard Lauder, the current chairman emeritus of the Estée Lauder Companies, noticed that people were buying a lot of lipstick during the economic downturn of the early 2000s. He coined the term “ lipstick index,” hypothesizing that consumers were willing to spend $30 on a small indulgence during a recession rather than shell out for a bigger-ticket luxury item like…
Understanding how to respond to online reviews is essential for businesses across all industries. Indeed, 89% of consumers read business responses to online reviews. How should manager responses differ for positive and negative reviews? How does manager response time impact online reputation? Should manager response times differ for positive and negative reviews? While some online platforms, like TripAdvisor, Yelp, and…
Whole Foods “opened” a new “store” that you can’t walk into or shop at. Located in Brooklyn and slightly smaller than a typical Whole Foods, the store is dedicated solely to fulfilling online orders. It’s the company’s first purpose-built online-only store. With longer aisles, no salad bar, and missing those checkout candy displays, the store will be used to pack up…
Brands should be prepared to pivot their marketing efforts if the platform is banned or acquired. When e.l.f. Cosmetics decided last year to experiment with TikTok, the beauty brand went in without preconceived notions around how the platform was going to work for the company, Gayitri Budhraja, vice president of brand at e.l.f. Cosmetics, said.
Before the company had a formal presence…
As store re-opening begins, brands and retailers globally are having to think on their feet and adapt quickly to a radically new world of physical retail. All experiential aspects are up for revision from safety, hygiene and in-queue entertainment challenges, to utilising VR in place of make-over beauty stations or changing rooms. These are closely followed by higher expectations for stock…
Influencer marketing allows direct-to-consumer brands to collaborate with social media influencers and produce truly authentic content. Influencers curate online communities of people with a common lifestyle. These social media power users earn trust from their followers because they’ve established their authority and knowledge in their respective fields.
In contrast, affiliate marketing is not restricted to influencer-brand relationships and involves commission payments to…
Data is the new oil and analytics is the refinery — this timeworn phrase continues to hold water, but it’s next-gen analytics that are taking the driver’s seat in today’s retail and consumer goods industries. In the face of an uncertain future, rife with unprecedented demand spikes and fluctuating consumer sentiment, the ability to turn raw data into actionable insight…