2020 — Some interesting learnings
By: Sam Critchley
Tags: Holidays, Retail Marketing, Retail, Marketing

Some people might say that 2020 was an annus horribilis, with retailers being particularly badly affected by the Corona pandemic. However, there were still a lot of interesting developments, some of them entertaining, and somehow they got us through the bad times (along with a large dose of internet memes and the odd gin & tonic). We’ve selected a few you might have missed and laid them out below.

Photo by Alexas_Fotos on Unsplash

Fascinating: the pricing-model of an all-you-can-eat buffet is based on some clever calculations, ‘trickle-down specials’, “hiding” foods and other behavioural psychology tricks. Yet, in the past 20 years the number of buffet restaurants has declined by 26% due to changing consumer trends. [More…] The first real-world purchase where a product barcode was scanned was in 1974, for a pack of ‘Juicy Fruit’ chewing gum. That’s number 3 in the list of 9 Things You Didn’t Know about Barcodes. For years they have been the #1 most desired present by people: Gift cards. But brands also love them. No wonder, considering an average of 6% of gift cards will never be used. Are you being exploited? Find out more in Hustle’s article: The economics of unused gift cards. With more commerce moving online, especially 2020, the need for human connection and physical experience remains: At the beginning of the year, John Lewis launched a virtual personalised styling program via Instagram. [More…] ‘Super apps’ are defined as mobile apps that are so seamlessly integrated with other apps that it eliminates the need to use the other apps, and eventually they become an integral part of the user’s day. Chinese app WeChat led the way here, but new Asian and African super apps are on the rise. [More…] Experiential stores have more than just shopping on the menu: This is why the best place in town to get a cocktail might be your favourite shoe shop. That’s why Nordstrom’s NYC store has a bar in the shoe department. [More…] “Wholesale Darwinism” describes the pressure on brands created due to the liquidity issues of department stores who have been hit hard due to Corona. And “hard hit” is an understatement, according to this New York Times article. [More…] Yay, go Netherlands! (We’re based in Amsterdam). This summer Dutch cities saw restaurant and café terraces expand across the pavement and take over parking spaces in an effort to keep their businesses going. A global pandemic can’t stop Dutch innovative spirit and ‘gezelligheid’. [More…] In August Google released Lookout. The app assists users with visual impairments to do their own groceries, using product recognition technology. [More…] Earlier this year American Airlines agreed to use their loyalty program, worth billions, as pledge for a loan from the government to overcome the pandemic. Ouch. [More…] The Chinese “red envelope” tradition is huge. Increasingly, tech companies leverage the time of year when red envelopes filled with money are gifted, to test new applications and gather valuable data; Especially payment credentials. [More…] Increasingly, paper receipts are scanned and digitised — this might be the secret of receiving perfect orders from suppliers. [More…] Quality over quantity: if you’re an individual creating content your fans really love, you might only need 100 of them to pay your bills. [More…] Being a sneakerhead became a lot easier this year: Thanks to the “Google Lens” app, people can identify their dream shoes “on the go” — assuming you can get the person wearing them to stay still for long enough. A snap of the shoes is enough to identify the model. [More…] How to survive the “retail apocalypse” like a startup? Leveraging existing and open source technology. [More…] Is commercial real estate going down big-time? With more online sales, empty retail property becomes the next big problem for the economy, especially in non-premium locations. Start thinking of alternative uses for the space. [More…] Deactivating Facebook can free up 60 minutes of your day. [More…] Amazon customers can earn $10 per month for sending in retail receipts and more for participating in additional surveys. [More…] There’s a formula to calculate the best moment to go shopping. [More…] In Amsterdam we can combine it with a service to tell us when it’s the safest moment to go shopping. [More…] Instagram Checkout has arrived in Europe. Popular denim brand G-Star RAW is the first Dutch retailer to sell to customers without them leaving the social app. Under a new “explore” tab, shoppers get personalised recommendations and can buy items via Instagram. [More…] (G-Star RAW has also launched their customer loyalty program this year, powered by Spaaza) There’s a great future in loyalty programs, and it involves “ecosystems”. McKinsey sees partnerships as the key to success for building dynamic and customer-centric loyalty programs of the future. [More…] Brands to rethink their strategies to appeal to tech-savvy seniors. Older members of society adopted tech en masse during the pandemic. As people in this age bracket hold the majority of society’s wealth there’s a huge opportunity. [More…] Since June, e-commerce giant Shopify’s merchants have also been able to sell via Walmart’s Marketplace. This partnership will pay off for Walmart not only with listing fees but increased traffic and a stronger stand against behemoth Amazon. [More…] Talking of Shopify, they’re going after generation Z (read this if you can’t remember which generation is which — I definitely can’t). A partnership with TikTok was announced in the end of 2020. The collaboration will make it easier for Shopify merchants to market on the social channel which is highly popular among younger audiences. Additional in-app shopping features are also planned. [More…] In the US alone, online commerce spending grew this year by at least $70 billion. That’s more than the amount Uber made in 2019 in annual gross bookings (amounting “only” $65 billion). [More…] (Note: full article is behind a paywall) Entirely unrelated to retail marketing (well, probably). Not having the right bacteria in your gut could be a cause of depression according to this research article in the Harvard Review of Psychiatry. Definitely a reason to tuck into a wide range of foods over the holiday period. [More…]

Any random facts that you’ve learned this year? Share them with us.

Merry Christmas, see you next year!