According to the US Travel Association, direct spending on leisure travel by domestic and international travelers totaled $650.8 billion in 2015. Yet, even with this huge market, leisure travel is still just that-leisure. Put another way, people have to buy food, medicine and hygiene products-they don't have to buy a Caribbean vacation. This 'need vs. want' dynamic makes advertising crucial to the success of leisure travel companies. Marketers need to grab the imagination and emotion of perspective customers. And, in this realm, successful advertising most frequently comes in the form of great storytelling that paints a picture of an experience.
In our July column, we reviewed in some detail how much deeper Amazon has reached in its quest to penetrate the American consumer marketplace. According to our most recent survey, 151 million adults made one or more purchases from Amazon in the past 12 months.
If you haven't noticed, there's a boom in American whiskey right now. Led by bourbon, the category has grown 40% in the past decade, with revenue growth of 47% to $2.7 billion in 2014. The International Wine and Spirits Review forecasts 20% growth in the next five years. Supply can hardly keep up with demand, leading to shortages of the amber liquid in top markets across the country. And it's the favorite way for pop culture heavyweights to booze up, from Don Draper on "Mad Men" to Frank Underwood on "House of Cards" to Raylin Givins on "Justified." Like vodka ...
Let's face it. Most products positioned in the luxury sphere offer exceptional quality, workmanship and styling. These brands have aced the product-centric side of the marketing equation. As a result, luxury brands have largely become commoditized with comparable high-end products offering much the same features and benefits, with minor tweaks here and there.
Uber Select. Soothe. Onefinestay. Now, even the pink mustache is getting fancy.
Millennials have been a marketing obsession for several years now as the generation develops into a larger percentage of the work force and begins to earn and spend more. Yet, a new storyline has recently emerged around Millennials: It turns out, they're not a uniform generation with identical traits that apply to every single member.
According to some industry pundits, Amazon will be the number one seller of apparel in the United States by next year. To help accelerate that achievement in apparel and fashion, Amazon earlier this year unveiled a new daily show, "Style Code Live," on Amazon.com to help push its fashion and apparel businesses. The show features fashion and beauty tips as well as live chat that allows viewers to communicate with the hosts and includes a product carousel displaying apparel related to the show and that can be purchased on Amazon.com.
"Old is the new young." Is this one of those catchy but, ultimately, meaningless advertising slogans? Far from it. The 60-plus age group is going to be the most important consumer growth market over the next 15 years, generating more than one-third of global consumption growth, according to our new report, "Urban World: The Global Consumers to Watch," which is free and available on our website. The largest elderly consumer markets today are in developed economies where their number will grow by a third between 2015 and 2030. These consumers will generate 20% of global consumption growth over this period. ...
Luxury retailers have historically been hesitant to adopt programmatic advertising - the automated buying of digital media - believing that programmatic means gaining efficiency at the expense of losing control. For brands that have built practices around putting an ad in a premium content context - a full-page spread in Vanity Fair, for example, where the ad itself is in some ways viewed as content - that exchange can be a difficult one to swallow.
The devices that consumers use to interact with media and brands continue to proliferate, which is leading many marketers to rush into new channels with the potential to reach or better understand their audience. For example, if a fridge is no longer just for keeping groceries cold - it's now a TV, an internet-connected device, and a data repository - what effect does that have on marketing?