As it’s Friday the 13th, here are a couple of items on the intersection between business and superstitions. First, three superstitions that affect consumer behavior – the article is from a few years back, but Friday the 13th is still a thing.
However, this more recent item discusses an interesting counterpoint: Research from Monash Business School shows products that display a lucky charm are less preferred when someone else is watching the shopper.
A new study by Valerie Light at the University of Delaware explores how US-based cosmetics & beauty companies have adjusted their merchandising and marketing strategies to survive the pandemic.
Some standout findings include:
- Cosmetics & beauty retailers prioritized three categories during COVID: fragrance (up 226.3%), haircare (up 150.9%), and skincare (up 165.6%)
- Unisex products newly launched to the US market during COVID-19 saw high growth in some product categories, such as skincare.
- During COVID-19, the average selling price went up for most cosmetics & beauty product categories sold in the U.S. retail market. “Except for bath & body and haircare, C&B retailers are selling more popular items in higher price-zones.”
Getting the most up-to-date wearables and carrying the most stylish gadgets is replacing having the most fashionable outfits this year.
The uncertain times caused by the Delta COVID-19 variant is causing parents to wait out on buying school supplies like backpacks, pens and notebooks. Instead, parents are purchasing digital subscriptions for learning programs and gadgets like phones, tablets, e-readers and wearables. Today’s tech-savvy millennial parents are said to shop using tech-enabled tools like voice assistants, digital wallets, buy buttons on social media posts and virtual reality.
Samsung says its Exynos W920 is the world’s first wearable-specific chip to be built on a 5nm process, helping improve performance and efficiency. The company claims it has 20 percent better CPU performance and ten times better GPU performance than its previous wearable chip.
Instagram’s investing more in its e-commerce business Instagram Shops launched last year. This time, it is introducing Ads in Instagram Shop, an auction-based format currently being tested with a few US-based advertisers. There’s no exact rollout schedule yet, but Instagram says the plan will eventually include advertisers from other markets.
From the industrial revolution that led to the invention of flexible packaging to the present world of digital, get an overview of how technology is influencing production processes, materials, and innovations in plastic packaging. Find out also more about the flexible packaging trends and how the industry is responding to technology and adjust to business, environmental and social needs.
That’s all for this edition of the Friday links – have a great weekend.