Sunday, December 21, 2025
Home Blog Page 745

Shein confidentially files for US IPO, targets 2024 debut amid challenging conditions

By
SnackTeam
-
0
Shein
Shein (Representative Image)

China-founded fashion company Shein has confidentially filed for an initial public offering (IPO) in the United States, as disclosed by two sources familiar with the matter to Reuters on Monday.

Goldman Sachs, JPMorgan Chase, and Morgan Stanley have been selected as the principal underwriters for the offering, with sources indicating that Shein may debut on the public market in 2024.

The decision by the fast-fashion giant to go public coincides with a challenging period for the initial public offerings (IPO) market, which is grappling with a series of underwhelming stock market debuts in the United States.

Over the past few months, there have been four significant initial public offerings (IPOs), with three of them failing to meet investor expectations. Shares of Birkenstock, a German sandal-maker, Instacart, a grocery delivery app, and Arm Holdings, a chip designer, all experienced declines below their IPO prices shortly after their respective debuts. However, it’s worth noting that Arm’s shares have since recovered and are currently trading above the initial price.

“It doesn’t strike me as the most opportune time for Shein to come public, but if they need capital the markets are open at least we’ve had a rally off the lows in the last few weeks and investor sentiment has been more positive than it was a few weeks ago,” said Jason Benowitz, senior portfolio manager at CI Roosevelt.

“…when investors can review the financials, I would expect to see pretty strong growth historically… the key question will be if they can kind of maintain the pace or to continue to gain market share going forward,” he said.

According to one of the undisclosed sources, Shein initiated discreet roadshows for its public offering in the U.S., with both sources opting not to be identified due to confidentiality constraints.

The retailer’s most recent action occurs against a backdrop of increased scrutiny from U.S. lawmakers directed at the company.

In August, attorneys general from 16 U.S. states, all Republicans, urged the Securities and Exchange Commission to conduct an audit of Shein, the China-founded fast-fashion retailer, to investigate the potential use of forced labor in its supply chain prior to its possible initial public offering (IPO).

Shein, recognized for its $10 tops and $5 biker shorts, predominantly dispatches its products directly from China to customers via air, with each item packaged individually.

The utilization of direct shipping has enabled the company to sidestep the accumulation of unsold inventory in warehouses and evade import taxes in the United States, a significant market for Shein. This approach allows the e-tailer to leverage the “de minimis” provision, exempting inexpensive products from tariffs.

The tax provision is currently facing increasing scrutiny in Congress, with critics contending that it enables companies to circumvent higher tariffs on Chinese goods.

In July, Reuters disclosed that Shein, having postponed its IPO plans on two occasions in the past, has been collaborating with a minimum of three investment banks regarding a potential initial public offering. The company was also engaged in discussions with both the New York Stock Exchange and the Nasdaq.

Shein, currently headquartered in Singapore, chose not to provide a comment. Goldman Sachs and JPMorgan declined to comment, and Morgan Stanley did not respond immediately to a comment request.

In May, the company achieved a valuation of more than $60 billion and is anticipated to become the most valuable China-founded company to go public in the United States since the 2021 debut of the ride-hailing giant Didi Global, valued at $68 billion.

Fast fashion retailers are gaining traction in the United States, with Shein capturing market share from established brands like Gap, as consumers seek fresher styles and trendier clothing.

In August, Shein collaborated with SPARC Group, a joint venture involving Authentic Brands, the owner of Forever 21, and Simon Property, a mall operator. This partnership aims to broaden their market reach and capitalize on the increasing demand for their products.

Both Shein and Temu.com, however, have struggled to translate site visits into actual sales and lag significantly behind the market leader, Amazon.com, which has effectively converted visitors into buyers.

The Wall Street Journal initially reported Shein’s confidential IPO on Monday.

Advertisement

Govt to increase tur dal procurement in bid to stabilize market prices

By
SnackTeam
-
0
Tur dal
Tur dal (Representative Image)

The government plans to enhance its tur dal procurement substantially, aiming to raise the acquisition from a few metric tonnes to approximately 8-10 lakh metric tonnes (LMT). This strategic initiative, disclosed by a senior official, seeks to manage commodity prices amidst a year characterized by a diminished pulse acreage and an expected decline in production.

According to government data, the nationwide retail price of tur dal surged by more than 40%, escalating from INR 112 per kg last year to INR 158 per kg this year.

In October, the year-on-year retail inflation for pulses surged to 18.79%, primarily driven by a significant increase in the prices of tur, chana, and moong. This contrasts with the 6.61% food inflation recorded in the same month. Notably, these inflationary pressures persist despite the government’s initiative to boost imports from African nations and Burma by eliminating the import duty on tur in March.

The official, who preferred not to be identified, mentioned that the procurement will take place through the Price Stabilisation Fund (PSF) at market rates, which are significantly higher than the minimum support price (MSP).

The acquisition will be carried out directly from farmers by the procuring agencies, namely the National Agricultural Cooperative Marketing Federation of India (NAFED) and the National Cooperative Consumers’ Federation of India Limited (NCCF). This process will commence at the onset of the season when the kharif crop begins to enter the market, as mentioned by the official.

The initial advance estimate released by the Ministry of Agriculture and Farmers’ Welfare in October indicates that this year’s tur production is projected to be 34.21 LMT, slightly lower than the output recorded in the previous year.

“This will send a message to the farmers that there is a definite buyer in the market, encouraging them to plant more tur in the years to come,” the official said, adding that an increase in area will eventually help in reducing import dependence.

Countries such as Mozambique and Burma, due to their heavy dependence on imports, are influencing terms and causing disruptions in the supply of dal, a widely consumed pulse in the country.

A reduction in the acreage dedicated to tur during the kharif season resulted in a production shortage, contributing to food inflation in recent months. According to government data, the area allocated for tur decreased from 46.13 lakh hectares on September 29, 2022, to 43.87 lakh hectares on September 29, 2023.

Advertisement

Eyeing revival, FMCG companies turn focus back to kirana stores

By
SnackTeam
-
0
shopping mart
(Representative Image)

Sales of fast-moving consumer goods in kirana stores or traditional shops have decelerated, according to chief executives of companies like Marico, Dabur, Emami, and Bajaj Consumer. This can be attributed to factors such as a lower number of product launches compared to e-commerce and organized retail, a decrease in credit availability from distributors, and a weakening of rural demand.

In response to this, the companies have decided to reinvest in kirana stores, as these stores still constitute four-fifths of the total FMCG sales in the country, according to their statements.

They believe that concentrating on kirana stores will yield positive results, as consumer sentiment in rural areas is anticipated to improve in the coming quarters.

Saugata Gupta, the managing director of Marico, emphasized the necessity for companies to reinvest in general trade to reignite growth in the sector. This is particularly crucial as the industry has seen significant development in e-commerce and modern trade over the past three years, with a majority of new launches occurring in these channels.

“It will be an ‘and’ growth and not an ‘or’ growth,” he told analysts recently. “Over the next few quarters, we will systematically address this general trade issue and the deflation tapering off in the second half will also help.”

The shortage of end-consumer sales has led to a depletion of credit from distributors to kirana stores. This is adversely affecting the payback period for the earlier credit extended to these stores, subsequently impacting the terms for obtaining fresh credit. The constriction of credit is, in turn, preventing kirana stores from stocking up adequately, thus creating a vicious cycle.

Consequently, inventory levels have decreased, such as in the case of Marico, where they have dropped by three to four days.

In the retail sector, modern trade experienced a year-on-year growth of 19.5% during the September quarter, according to NielsenIQ data, whereas traditional trade recorded a growth of 7.5%. However, this growth was primarily attributed to a low base in the previous year when sales had decreased by 2%. According to Bizom, a platform that monitors retail sales and kirana orders, the number of kirana outlets declined by 3.4% in October compared to August and remained flat year-on-year. Additionally, there was an accumulation of inventory.

“An inconsistent demand for Diwali is leading to excess stocking across kiranas and standalone modern trade channels. This in turn is leading to deep discounts for liquidation of stocks at these stores to ensure new product stocking happens quicker,” said Akshay D’Souza, chief of growth and insights at Mobisy Technologies, which owns Bizom.

Parle Products senior category head Mayank Shah said, “Distributors are wary of giving credit to kiranas since they are not receiving money from outlets timely. This issue is more pronounced in stores focused on low velocity items such as personal care products.”

Despite the significant rise in e-commerce over the past three years since the onset of Covid-19 and the rapid growth of modern trade driven by retail giants like Reliance Retail and D’Mart, general trade continues to be the primary driver of FMCG sales in India.

In fact, despite facing a high baseline, kirana stores outpaced supermarkets and even online grocers during the pandemic. Throughout the Covid-19 period, the majority of consumers opted to shop from local neighborhood stores, especially when supermarkets operated with restrictions. However, industry executives now assert that this trend has shifted.

Jaideep Nandi, Managing Director of Bajaj Consumer Care, noted that there was a low single-digit decline in general trade during the July-September quarter, primarily attributable to subdued rural demand.

“Urban markets continue to outperform rural markets, which remained subdued on account of inflation and below-average rainfall in certain regions,” he said.

Advertisement

Frendy raises $2 Million in funding round to boost tech and expand store network

By
SnackTeam
-
0
Frendy

Frendy, a convenience store network, announced on Monday that it has raised INR 16 crore ($2 million) in a bridge round of funding.

In this funding round, existing investor Desai Ventures, along with new participants such as Auxano Capital, AT Capital Singapore, Metara Ventures, Priya Joseph, Rohan Jain, Rishabh Jain of The Wellness Co., and the Apurva Salarpuria family office, contributed to the investment.

The startup announced that it is considering the possibility of expanding the funding round to INR 24 crore (approximately $3 million) through a subsequent rights issue, as stated in their release.

The startup intends to utilize the newly acquired funds to enhance its technology infrastructure, expand its network of stores, and diversify its portfolio of private-label products.

Established in 2019 by Sameer Gandotra and Gowrav Vishwakarma, Frendy, headquartered in Ahmedabad, operates as an omnichannel convenience store network targeting small towns across India. The platform utilizes pre-existing micro-stores like family-operated kirana shops and newly established home-based stores managed by housewives to serve as last-mile distribution points. Using its app, the startup facilitates the sale of household items, guided by a network of women community leaders.

The startup asserts that it has extended its reach to more than 40 Tier II-VI towns in Gujarat, catering to 50,000 customers and offering a diverse range of over 4,500 products.

Frendy, specializing in beauty, cleaning, grocery, kitchen products, and more within its private-label portfolio, reported a doubling of its revenue from INR 40 crore in FY22 to INR 82 crore in FY23.

Commenting on the startup’s growth plans, Gandotra said, “In our second phase we are going asset & operations light with our Franchised Marts doubling up as a warehouse for our existing micro-stores and in parallel have scaled down our central warehouse.”

“Our goal for the coming 12 months is to have 40 operational Marts and further build out our private label offering. We have now perfected our business model and will continue to grow with right unit economics and scale out the model to the rest of Gujarat & then into other states,” he added.

In May last year, Frendy secured $3 million in an extended Series A funding round, with contributions from the Desai Family office, Let’s Venture Angel Fund, Centera Fund UK, and other investors.

Within the retail tech market, the startup contends with competitors such as New Shop, 1K Kirana, Super K, Citymall, Dealshare, and several others.

According to Statista, India holds the title of the world’s fastest-growing grocery market. In 2020, the Indian grocery market reached $573 billion in size and is projected to grow to $852 billion by 2025.

Advertisement

Customer-Centric Conversion: Strategies for Developing a Relevant Sales Process

By
SnackTeam
-
0

In the dynamic landscape of business, where customer preferences and behaviors are constantly evolving, the need for a customer-centric approach to sales has never been more critical. The traditional sales process, which often focused on pushing products or services to potential clients, is no longer sufficient in meeting the expectations of today’s discerning consumers. To thrive in this environment, businesses must shift their focus towards a customer-centric conversion strategy – one that prioritizes understanding, empathy, and relevance. 

Let’s explore some tactics that can improve your sales process and make it so compelling for your target audience that it goes beyond mere relevancy.

1. Understanding the Customer Journey:

To build a truly customer-centric sales process, start by comprehending the intricacies of the customer journey. Map out the various touchpoints a prospect encounters from initial awareness to the final purchase decision. Identify pain points, moments of delight, and critical decision-making junctures. This insight forms the foundation for tailoring your sales process to meet customers where they are in their unique journey.

2. Personalization Beyond Names:

Personalization has transcended the mere insertion of a customer’s name in an email. It’s about understanding preferences, anticipating needs, and delivering a bespoke experience. Leverage data analytics to segment your audience based on behavior, demographics, and interactions. Tailor your communication, recommendations, and offers to align seamlessly with each segment, making your customers feel seen and valued.

3. Seamless Omnichannel Experience:

In a world where customers seamlessly transition between online and offline channels, your sales process should be a unified journey. Ensure a seamless omnichannel experience, where interactions on social media, your website, and in-store complement rather than contradict each other. Consistency across channels builds trust and reinforces your commitment to meeting customers on their terms.

4. Educate Rather Than Sell:

Shift your mindset from selling products to educating and empowering customers. Position your sales team as trusted advisors, providing valuable insights, solutions to challenges, and information that aids decision-making. This not only builds credibility but also establishes your brand as a reliable source of knowledge, fostering long-term relationships.

5. Leverage Technology Wisely:

Embrace technology, not as a replacement for human interaction, but as an enabler of personalized, efficient service. Implement customer relationship management (CRM) systems, AI-driven chatbots, and analytics tools to streamline processes and gain actionable insights. Technology should enhance the human touch, not dilute it.

6. Solicit and Act on Feedback:

Customers appreciate being heard. Create avenues for feedback and actively listen to what your audience is saying. Use their insights to refine and optimize your sales process continuously. This not only demonstrates a commitment to improvement but also fosters a sense of collaboration with your customer base.

7. Create Emotional Connections:

In a sea of transactions, emotional connections set businesses apart. Infuse your sales process with a genuine understanding of your customers’ emotions, aspirations, and challenges. Communicate your brand story in a way that resonates emotionally, turning a transactional experience into a memorable journey.

The Bottom Line

A customer-centric conversion strategy is not just a trend; it’s a necessity for thriving in a customer-driven marketplace. By understanding the customer journey, personalizing interactions, ensuring a seamless omnichannel experience, educating rather than selling, leveraging technology wisely, soliciting and acting on feedback, and creating emotional connections, your sales process can evolve into a dynamic, relevant, and customer-centric force that propels your business towards sustained success.

Advertisement

The ABCs of Product Awareness: Building Consumer Expertise from Scratch

By
SnackTeam
-
0
Product Knowledge

Navigating the intricate terrain of the modern business landscape demands more than just a quality product. In an era marked by information overload and fleeting consumer attention, the ability to cut through the noise and captivate the audience is a skill that can define success. At the heart of this challenge lies the art of building product awareness from scratch—an endeavor that goes beyond mere advertising to cultivate genuine consumer expertise.

The Foundation: Know Your Audience

The journey to product awareness begins with a profound understanding of the target audience. Every successful strategy hinges on the ability to connect with consumers on a personal level, addressing their needs, desires, and pain points. Conducting thorough market research lays the foundation for this understanding, unraveling the intricacies of consumer behavior and preferences.

Businesses that excel in this realm employ a human-centric approach, recognizing that they are not just selling a product but offering a solution to real-life challenges. This empathetic perspective allows companies to create a narrative that resonates, establishing an emotional connection with their audience—a connection that transcends the transactional nature of business.

Crafting a Compelling Narrative

In a world bombarded with messages, stories have the power to cut through the noise and leave a lasting impression. Crafting a compelling narrative around your product involves more than just listing its features. It requires weaving a story that captures the imagination, taps into emotions, and ultimately positions the product as an indispensable part of the consumer’s story.

Tell the tale of your product’s inception, highlighting the challenges overcome and the passion that fuels its creation. Illuminate the value it brings to consumers’ lives, emphasizing not just what it does but why it matters. A well-crafted narrative provides context, making the product more relatable and memorable.

Strategic Communication: Consistency is Key

Building product awareness is not a one-time effort but an ongoing commitment to communication. Consistency across all channels—be it social media, traditional advertising, or in-person interactions—creates a cohesive brand image that reinforces the narrative.

Investing in a multi-channel approach ensures that your message reaches consumers where they are most receptive. The digital realm, with its vast reach, offers unparalleled opportunities for engagement. Social media platforms, in particular, provide a dynamic space for interactive communication, enabling businesses to not only disseminate information but also actively participate in conversations, responding to queries and feedback in real-time.

Leveraging Influencers and Ambassadors

In the age of social media influencers, leveraging personalities who align with your brand values can significantly amplify your product’s reach. Consumers often trust the recommendations of individuals they admire or relate to, making influencer marketing a potent tool for building product awareness.

Identify influencers whose audience aligns with your target demographic and whose values align with your brand. Authenticity is paramount; consumers can discern genuine endorsements from paid promotions. Collaborate with influencers who can authentically integrate your product into their content, showcasing its utility in real-life scenarios.

Educating the Consumer: The Power of Content

Empowering consumers with knowledge about your product is a cornerstone of building expertise. Develop a content strategy that goes beyond promotional material, offering educational resources, tutorials, and insights. This not only positions your brand as an authority in the industry but also fosters a sense of trust and loyalty among consumers.

Video content, in particular, has emerged as a powerful tool for product education. Whether through explainer videos, product demonstrations, or behind-the-scenes glimpses, visual content captures attention and communicates information effectively. Additionally, written content, such as blogs and articles, serves to delve deeper into the intricacies of your product, catering to consumers seeking in-depth information.

Fostering Community Engagement

Building a community around your product creates a space for consumers to connect, share experiences, and become advocates. Platforms like forums, social media groups, and dedicated community spaces on your website foster a sense of belonging among users.

Encourage user-generated content, where consumers share their experiences with your product. This not only serves as authentic testimonials but also provides valuable insights for potential customers. Actively participate in these communities, addressing concerns, celebrating successes, and continuously reinforcing the shared values that bind the community together.

Measuring Success and Iterating

As with any business strategy, measuring the success of your product awareness efforts is crucial. Utilize analytics tools to track key performance indicators, such as website traffic, social media engagement, and conversion rates. Analyzing these metrics provides insights into what resonates with your audience and allows for informed adjustments to your strategy.

Product awareness is an evolving journey, not a destination. Regularly reassess your approach, incorporating feedback from consumers and staying attuned to industry trends. Adaptability is a hallmark of successful businesses, and the ability to iterate on your product awareness strategy ensures continued relevance in the ever-changing marketplace.

Building consumer expertise from scratch requires a holistic and dynamic approach. From understanding the audience to crafting compelling narratives, leveraging influencers, and fostering community engagement, each step contributes to the intricate tapestry of product awareness. In a world where attention is a precious commodity, the businesses that invest in genuine connections, consistent communication, and ongoing education are poised to not only capture consumer attention but also cultivate lasting loyalty.

Advertisement

Psychographics Decoded: How to Understand and Reach Your Audience’s Mindset

By
SnackTeam
-
0
Psychographics

In the complex dance of companies and consumers, building a relationship that transcends simple transactions requires knowing what your audience thinks. Let us introduce you to psychographics: the science of interpreting the complex web of values, beliefs, interests, and lifestyles that mould your target audience’s worldview.

Beyond Demographics: The Power of Psychographics

While demographics provide a surface-level snapshot of your audience, psychographics delve into the why behind consumer behavior. It’s the difference between knowing who buys your product and understanding why they choose it. By tapping into the deeper layers of motivations and attitudes, brands can tailor their messaging and offerings to resonate on a profoundly personal level.

Mapping the Emotional Landscape

Psychographics is the compass that guides brands through the emotional landscape of their audience. What are their fears, aspirations, and pain points? By mapping these emotional territories, brands can craft campaigns that don’t just sell a product but address the deeper emotional needs of consumers. Understanding the emotional triggers enables brands to become partners in their audience’s journey.

Values Alignment: Building Lasting Connections

Consumers today seek more than just products; they crave a connection with brands that share their values. Psychographics allows brands to identify the core values that matter most to their audience. By aligning messaging and actions with these values, brands can foster a sense of loyalty and community, creating relationships that extend beyond the transactional.

Lifestyle Integration: Becoming a Seamless Part of Daily Life

One’s lifestyle choices are a window into their mindset. Psychographics decode the lifestyle preferences of your audience, offering insights into their daily routines, hobbies, and social behaviors. Brands can leverage this information to seamlessly integrate into the fabric of their consumers’ lives, positioning themselves not just as products but as essential companions in their lifestyle journey.

Storytelling with Precision

Every audience has a unique narrative, and psychographics provide the plotline

This goes beyond marketing; it’s about becoming a part of the stories that matter to your audience. Psychographics allows brands to speak the language of their consumers, weaving narratives that leave a lasting imprint.

Adaptability in the Digital Age

Psychographics empower brands to stay agile by continuously understanding and adapting to shifts in consumer mindset. It’s a tool that not only decodes the present but also anticipates the future, allowing brands to stay ahead of the curve and maintain relevance in the ever-changing marketplace.

Personalization at Scale

“Personalization is no longer a luxury; it’s an expectation”

Psychographics enable brands to achieve personalization at scale by tailoring offerings and messaging to diverse segments within their audience. This level of customization goes beyond demographics, acknowledging the individuality of each consumer and creating an experience that feels crafted just for them.

The Bottom Line

The psychographics is the compass, map, and language that brands need to authentically connect with their audience. By delving into the intricacies of mindset, values, emotions, and lifestyle, brands can transcend the transactional and become integral parts of their consumers’ lives. It’s not just about understanding; it’s about speaking the unspoken language of the audience and forging connections that withstand the test of time and trends.

Advertisement

The Webinar Advantage: Leveraging Educational Video Content for Brand Expansion

By
SnackTeam
-
0
webinar

Within the ever-evolving field of digital marketing, webinars have become an indispensable resource for companies looking to build their brand and become thought leaders. A successful brand extension strategy now relies heavily on educational video material supplied through webinars, as attention spans are getting shorter and technology advances. 

Webinars offer a unique platform for brands to showcase their expertise. By curating educational content that addresses industry challenges or provides valuable insights, brands position themselves as authorities in their field. This not only fosters trust among existing customers but also attracts new audiences eager to learn from industry leaders.

Personalized Engagement: 

Unlike static content, webinars enable real-time interaction. Q&A sessions, polls, and live chats allow brands to engage directly with their audience, creating a personalized experience. This two-way communication not only keeps participants actively involved but also provides brands with instant feedback, helping them tailor their message to meet audience needs.

This global reach opens doors to new markets and demographics, enabling brands to make a local impact on a global scale. The flexibility of accessing webinars from anywhere also caters to the diverse schedules of an international audience.

Lead Generation on Autopilot:

Webinars are a goldmine for lead generation. Attendee registrations and interactions provide a wealth of data for brands to nurture leads effectively. By offering valuable content during webinars, brands not only attract potential customers but also have the opportunity to guide them through the sales funnel. Post-webinar follow-ups can further solidify these connections.

Furthermore, educational content doesn’t have to be detached from your product or service. Webinars allow brands to seamlessly integrate demonstrations, case studies, and success stories, showcasing the tangible value they bring to the table. This dual approach of educating and demonstrating enhances the audience’s understanding and appreciation of the brand’s offerings.

Thought leadership is a key asset in the digital era. Webinars give companies a stage to exchange views, talk about trends, and present solutions for everyday problems, establishing them as leaders in their respective fields. A regular webinar series develops a reputation over time, drawing a devoted audience and positioning the company as the authority on industry information.

The Bottom Line

The beauty of webinars lies in their lasting impact. Recorded webinars become evergreen content that can be repurposed across various channels. This not only extends the life of the content but also allows brands to continuously reach new audiences. By strategically repackaging webinar content, brands can maintain a steady stream of educational material to fuel their growth.

The webinar advantage is not just about disseminating information; it’s a strategic approach to brand expansion. By harnessing the power of educational video content, brands can build trust, engage with a global audience, generate leads, showcase their value, position themselves as thought leaders, and create a lasting impact that extends far beyond the duration of a live session. As the digital landscape continues to evolve, the webinar remains a dynamic and indispensable tool for brands committed to growth and excellence.

Advertisement

The Content Connection: Strategies to Motivate Users to Contribute to Your Brand

By
SnackTeam
-
0
User-Generated Content

Brands are beginning to understand the significant influence that user-generated content has on their performance in the constantly changing world of digital connection. Incorporating people to actively participate in a brand’s storyline strengthens the brand’s credibility while also promoting a sense of community. Here are the effective strategies to inspire users to become content contributors and brand advocates.

1. Storytelling as a Catalyst

Storytelling has an innate power to captivate an audience. Brands that skillfully weave narratives into their identity create an emotional connection with users. Encourage users to share their stories related to your brand, transforming them from passive consumers to active contributors. These personal narratives not only resonate with others but also create a vibrant tapestry of experiences associated with your brand.

2. Recognition and Appreciation

Humans crave acknowledgment, and users are no exception. Implement systems that recognize and reward user contributions. Whether through shoutouts on social media, exclusive perks, or featuring user-generated content in marketing campaigns, recognizing their efforts not only boosts individual morale but also motivates others to contribute in the hope of being acknowledged.

3. Gamification: Turning Engagement into a Game

Incorporate elements of gamification to infuse an element of fun and competition. Leaderboards, badges, and challenges can turn the act of contributing into an exciting game. By tapping into the human desire for achievement, brands can turn routine interactions into engaging experiences, driving users to actively participate and outdo themselves.

4. Community Building: Fostering a Sense of Belonging

People are naturally drawn to communities that share common interests. Brands can leverage this by creating spaces for users to connect, share ideas, and collaborate. A robust online community not only provides a platform for user-generated content but also fosters a sense of belonging, making users feel like valued members of a larger collective.

5. Empowerment through Co-Creation

Give users a stake in the creative process by involving them in product development or content creation. Brands can run polls, seek opinions, or even host design competitions. By letting users contribute to the shaping of the brand, they feel a sense of ownership and pride, leading to a deeper emotional investment in the brand’s success.

6. Educational Initiatives: Knowledge as a Currency

Position your brand as a source of knowledge and expertise. Implement educational initiatives that encourage users to share their insights, tips, or experiences. When users perceive a brand as a hub of valuable information, they are more likely to actively contribute their own knowledge, creating a symbiotic relationship between the brand and its community.

7. Sustainability and Social Impact

Today’s consumers are increasingly conscious of sustainability and social responsibility. Brands that align with these values can motivate users by emphasizing the positive impact their contributions can have. Whether it’s supporting a cause or promoting eco-friendly practices, tying user contributions to a greater purpose adds a meaningful layer to the brand-user relationship.

The Bottom Line 

Inspiring users to contribute to your brand goes beyond simple engagement metrics. It involves cultivating a community, acknowledging individual efforts, and creating an environment where users feel not just connected but essential to the brand’s narrative. By implementing these strategies, brands can transform passive users into active contributors, ultimately shaping a brand identity that resonates authentically in the digital landscape.

Advertisement

Indonesia’s Tomoro Coffee debuts in Shanghai, plans massive Chinese expansion

By
SnackTeam
-
0
Tomoro Coffee

Tomoro Coffee, an Indonesian coffee chain, has made its debut in the Chinese market with the opening of its first location in Shanghai, as reported by World Coffee Portal.

Situated in the Qingpu E Link World Industrial Park, the Shanghai branch of the coffee chain will provide guests with a variety of beverages, including Americano.

Tomoro Coffee, backed by venture capital company ATM Capital, is set to compete with other coffee brands in the region, including Luckin Coffee and Starbucks.

In October 2023, Wang Chao, the managing director of Tomoro, outlined the brand’s intention to significantly expand its footprint in China. The plan involves opening two new outlets each day, with lease contracts already in progress for over 400 additional locations.

Founded in Jakarta in 2017, ATM Capital presently manages a portfolio of 18 businesses, which includes JumpStart Coffee, a company specializing in self-serve coffee machines and vending units.

In August 2022, Tomoro inaugurated its inaugural venue in Jakarta and has since expanded its network of stores to reach 200 locations throughout Indonesia.

During that year, the chain revealed its strategy to launch 4,000 stores across the South-East Asian market, with a specific plan for 2,000 stores in Indonesia.

Tomoro Coffee additionally targets the opening of approximately 500 stores in each of the following countries: Vietnam, Malaysia, Thailand, and the Philippines.

Advertisement
1...744745746...1,378Page 745 of 1,378