Business
In the not-so-distant past, luxury purchases were almost solely markers of affluence and indulgence. Rolls-Royce commanded respect for its six-figure price tag and lavish material embellishments. Scoring an exclusive Hermès Birkin bag meant joining the rarified circles of the global elite. However, a rapidly mainstreaming value among modern high-income explorers
In 1999, few could foresee the eventual metamorphosis of consumers that big tech platforms and the smartphone revolution would catalyze. Who could predict a "social media influencer" becoming a coveted marketing channel surpassing TV commercials? If businesses fail to anticipate, analyze and adapt to large-scale consumer shifts or
Business
Consumer behavior in 2023 bends can sometimes feel like a kaleidoscope of contradictions. Gen Z environmental evangelists promoting sustainability, yet splurging on fast fashion. Middle-aged affluent suburbanites craving local farm-to-table meal kits, delivered in single-use plastic containers. Health-conscious urban dwellers cross-shopping supplements with sporadic impulse buys of indulgent sweets and
In our hyper-globalized world, the typical Fortune 500 enterprise generates over 30% of its revenue from international markets. For ambitious multinationals not going abroad, getting left behind is a defining risk. However, expanding across borders also carries substantial hazards. An astonishing 1 in 3 multinational corporations report operating losses from
Imagine being a multinational retailer aiming to plant distribution flags across the lucrative Southeast Asian markets of Vietnam and Thailand. You've allocated substantial capital, performed demographic studies, and even visited a few key cities - but you're still lacking a critical data component: hyper-local intel on
Imagine launching a new product across West Africa, only to realize too late that it doesn't align with cultural traditions and falls flat. Or investing heavily into expanding your business footprint across Southeast Asia, just to miss the mark on consumer pricing expectations and see sales sputter. These
Understanding consumer sentiment is critical in any industry where brands and customer experiences reign. And in the era of big data, new techniques are empowering companies to accurately sense consumer attitudes, emotions and opinions at unprecedented scale. Sentiment analysis is an advanced application of artificial intelligence and computational linguistics that
When prospects and customers interact with your brand, they take a journey spanning multiple touchpoints and channels. And their perceptions from each moment accumulate to shape their experience. It's no longer sufficient for companies to narrowly map customer journeys within siloed channels or transactional processes like sales funnels.
Introducing a new product is a major strategic initiative requiring substantial investment - yet many launches still fall flat. In fact, over 80% of new consumer products launched each year ultimately fail, leading to an estimated $200 billion in overspend annually. So how can companies minimize this risk and give
In today's hyper-competitive business landscape, having timely insights on what rivals are planning next can be the difference between outmaneuvering them or being outmaneuvered. To stay one step ahead, companies are increasingly turning to competitive intelligence - the practice of systematically gathering and analyzing information about an industry,
Determining the right pricing strategy is a perennial challenge for businesses across industries. Price a product too high, and it risks losing customers to cheaper alternatives. Price it too low, and you're leaving money on the table. This delicate balancing act highlights the importance of demand modeling in
Business
In the ever-evolving landscape of the marketplace, consumer behavior is undergoing a significant transformation. Today's consumers are increasingly conscious of the social and environmental impact of their purchasing decisions. This shift, driven by heightened awareness and readily available information, has given rise to ethical consumerism, a movement where