Longevity Market: Boomer Brands Booming

The New York Times: Some companies “are plugging into a wealthy slice of the over-50 demographic called the longevity market, whose annual economic activity currently amounts to $7.6 trillion … With an estimated 74.9 million baby boomers … the biggest market opportunity for start-ups is older Americans rather than hip millennials … The staggering size of the total longevity economy — bigger even than Japan’s — has been attracting more entrepreneurs, deep-pocketed financiers and places to pitch new ideas in the past few years.”

“New business ideas that cater to boomers are nearly endless … and include chefs, online dating sites and yoga instructors for people with health issues … Even businesses with decidedly mundane products are finding ways to capture the longevity niche. Foot care, for example, is a huge market … One of the founders of the Rockport Company, Bruce R. Katz, reinvented himself in 2013 by starting the Samuel Hubbard Shoe Company to sell comfortable footwear to baby boomer men.”

“In a validation of the brand’s appeal to baby boomers, former President Bill Clinton, who turns 70 this month, was even photographed walking a dog, wearing Samuel Hubbard’s sky blue shoes.”

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Brand Promises: Final Sale? Just Kidding!

The Wall Street Journal: “The phrase used to mean a last-ditch promotion, with steep price reductions on end-of-season castoffs and no chance of returns. But lately some brands are using a different sort of ‘final sale,’ strategically discounting slow-moving merchandise in mid-season, even though future discounts may still be possible. The new tactic still means no returns or exchanges … Fickle shoppers, hungry for discounts but accustomed to changing their minds, aren’t pleased.”

“Lauren Taylor Baker, a 31-year-old digital entrepreneur in Atlanta, says she used to get a thrill from finding a great bargain marked final sale … But after several final-sale purchases she regretted, Ms. Baker says she feels burned and no longer believes a final-sale price is the lowest it will go. Now, she says, when shopping for something marked final sale, she ignores the original full price and evaluates it based on quality and fit.”

“Katie Amato, of Buffalo, N.Y., does most of her shopping online. While she likes a sale, she tends to avoid final sale items. ‘Things might not fit, or the quality might not be as expected, and then you are stuck with it,’ says the 30-year-old postdoctoral researcher. Final sales make her feel ‘trapped or manipulated,’ she says.”

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Facebook Area 404: The Innovation Lab

USA Today: “Deep inside Facebook’s sprawling campus here is “Area 404,” a reference to the error you get when a Web page can’t be found. Engineers gave it that name because it’s a space they wanted that didn’t exist: a lab outfitted with state-of-the-art testing equipment and heavy machinery where they can crank out ideas and model makers can turn those ideas into prototypes with the goal of speeding up the cycle of innovation.”

“The lab is divided into two areas: an electrical engineering lab with rows of long desks to test and debug designs and a prototyping workshop with large machine tools such as a 5-axis water jet that can cut sheets of any material from steel to granite … Jay Parikh, Facebook’s head of engineering and infrastructure, believes Facebook can leap ahead by incubating everything in one space where people and ideas commingle. ‘It brings together a lot of opportunity for teams across the company to work together, and work on shared problems here together,’ he says.

Silicon Valley forecaster Paul Saffo comments: “Ten years ago we were lamenting the end of corporate R&D. The grand old labs were all shutting down and the question was where was the big thinking coming from? This is a very good sign that large company innovation is very much alive. This could be where next big ideas come from.”

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Domino’s Pizza Meter: Slicing Big Data

Slate: “In the 1990s, America believed in the predictive powers of pizza. Online anecdotes abounded … When Operation Desert Storm launched in January 1991, the Chicago Tribune published an account of a D.C. pizzeria owner who was able to predict that military action in the region was imminent, thanks to spikes in his sales.”

“But perhaps the best example of the pizza obsession of the 1990s lay in the existence of the ‘Pizza Meter,’ a short-lived annual report put out by Domino’s … By polling delivery drivers, the report claimed to offer insights into American political and personal attitudes. Real conclusions from the 1995 report include statistics like, ‘People who answered the door while listening to rap music were 45 percent more likely to order a meat-topped pizza than non-rap listeners’. Or, ‘People who answered the door wearing polyester ordered 9 percent more vegetarian pizzas than those sporting natural fibers’.”

“Perhaps pizza-based analysis fell by the wayside thanks to the rise of more serious data-driven journalism. Or perhaps there was a growing cynicism about the blatantly branded marketing ploy that was the Pizza Meter. But in the past 20 years … the internet has made us more accepting of such silliness. We don’t necessarily need to correct the pitfalls of the original surveys—like the horrendously unscientific data collection techniques or the flippant attitude toward causation vs. correlation—to capture that unique excitement that came when previously inaccessible insights were made plain and laid bare.”

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Five Stars: Hospital Hospitality

The New York Times: “While clinical care is the focus of any medical center, hospitals have many incentives to move toward hotel-inspired features, services and staff training. Medical researchers say such amenities can improve health outcomes by reducing stress and anxiety among patients, while private rooms can cut down on the transfer of disease.”

“But a big driver of the trend may be hospitals’ interest in marketing — attracting patients with private insurance who have a choice in where they receive care, and encouraging word-of-mouth recommendations … Competing on the amenities is all the more important … because there is so little reliable comparative data on hospitals’ medical outcomes.”

“At Henry Ford West Bloomfield, scores from federally mandated surveys show that the evolving features at the hospital have helped to improve its customer satisfaction ratings and make patients more likely to recommend the hospital to others … Indeed, a study by Deloitte found that hospitals with higher patient experience ratings were generally more profitable than those with lower scores.”

“Of course, all these new features and services come with a price tag — part of which is billed directly to patients.”

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Misty Copeland: Ballet Megastar as Megabrand

CNBC: Ballet star Misty Copeland “is one of the few dancers who is business savvy enough to have become a brand of her own. She has performed on Broadway, appeared as a judge on ‘So You Think You Can Dance’ and written a best-selling memoir. She’s picked up endorsement deals with T-Mobile, Seiko, Under Armour, Coach and others — honors usually reserved for high-profile sports figures. In May, she signed on with Dannon to promote its Oikos Greek yogurt.”

“Her next act is a dancewear line ‘for all shapes and sizes’ debuting in August. The inspiration for the line, Egal, stems from her own struggle to find supportive leotards when she was an awkward teen.”

Copeland comments: “Celebrities today make all this money and have all this time to travel and play, go to clubs and get in trouble. But there’s never a moment that a dancer can take off and just be like, woo hoo, I’m enjoying all of the applause that I got in my last show! The work never ends until you retire, and I think that having that structure in place as a classical dancer has really benefited me as a businesswoman.”

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Disney Technology Tracks Guest ‘Footprints’

Orlando Sentinel: “The U.S. Patent and Trademark Office has issued Walt Disney Co. a patent for a new type of technology: A system that can track theme-park guests through their feet. The company says that there are no immediate plans to use such a system. This project is part of Disney’s ongoing innovative research process, the company said, and many projects it explores may never actually end up in the parks.”

“According to information supplied to the patent agency, sensors and cameras would help identify particular visitors, and the data ‘can be used to output a customized guest experience’ including photographs. Theme parks could also use such a system to mine data about common paths from ride to ride.”

“Current methods of tracking guests and matching them up ‘are limited to rather invasive methods, such as retinal and fingerprint identification methods,’ the patent information said. These methods are obtrusive and some guests may not feel comfortable providing this type of biometric information to a third party’.”

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Saltwater Brewery: Edible 6-Pack Rings

Quartz: “Saltwater Brewery has introduced new, eco-friendly six-pack rings for their beer … The grain-based rings are both biodegradable and edible—so rather than choking on them, marine life can safely chow down on them instead.”

“The brewery makes the rings by shipping grain leftover from its beer-making process offsite. The grain is then bound with biopolymer, a protein occurring in living organisms, and pressed into shape … While the spent-grain compound isn’t super nutritious for sea creatures, it’s not harmful in any way.”

“The switch to biodegradable rings was costly for Saltwater Brewery … Currently, consumers have to pay about 10 cents more per beer for the technology. Right now the brewery offers a mix of plastic rings and the new biodegradable rings … In coming months, the brewery hopes to shift completely over to edible rings. The brewery also plans to make the biopolymer technology blueprint available for purchase, so that other beverage companies can stop using plastic rings, too.”

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