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Amazon Has Difficulty Converting Prime Members to Whole Foods Shoppers
Despite offering numerous incentives for Prime members to visit Whole Foods, Amazon has been largely unsuccessful in making the conversion. “70 percent of Prime members say they rarely or never shop at Whole Foods, according to a recent survey by Wolfe Research, and just 18 percent shop at Whole Foods at least once per month.”
Banks that Don’t Deliver High-Quality Digital Experiences Risk Customer Attrition
A new survey of UK residents has found that consumers are likely to switch banks over bad customer experience. “Of the respondents, 86 percent said they would consider switching their account provider if they struggled to manage their accounts easily through digital channels.”
Disney Gets into the OTT Space
The entertainment giant has priced its upcoming streaming service, Disney+, at $6.99 per month. “The linchpin of Disney’s streaming strategy, Disney+, will be an ad-free subscription service anchored by programming based on Disney’s biggest franchises, including Star Wars and Marvel Studios, as well as original programming.” With streaming services proliferating, it will be interesting to watch how the brands compete for loyalty as, given many choices, consumers begin to drop one or more services.
Chipotle Partners with Esports Brands
Seeking to increase its visibility, Chipotle has partnered with gaming companies like DreamHack and ESL. “Over the past year, Chis Brandt, CEO, and his team have focused on bringing visibility to the brand by pivoting away from regional marketing. In a previous interview with NRN, he said the company is deploying the same amount of marketing dollars to campaigns—like esports partnerships—that put the brand in front of relevant audiences.”
Small Banks Dissatisfied with Tech Providers
“Small banks that rely on technology providers Fiserv, FIS and Jack Henry & Associates are starting to revolt, arguing the companies are making it more difficult for them to compete against larger banks.” Executives cite complicated offerings and digital contracts that make it difficult to compete with the big banks.
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