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July 20, 2014

Airbnb Introduces New Branding to Support New Direction

Michelle GrantAnalyst Insight by Michelle Grant - Travel and Tourism Manager

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On 16 June 2014, Airbnb announced new branding that includes a new logo as well as a redesigned website and upgraded mobile apps. The moves were a shift from focusing on the types of lodging available on the website (typically unique structures such as treehouses and castles) to a focus on the people within the Airbnb community. The rebranding aims to position Airbnb as a lifestyle brand to enable the company to broaden its product portfolio beyond lodging services.  Given the harsh reaction to the logo, though, it remains to be seen if the new branding will be enough support the company’s new direction.

"Belonging" is the Keyword

The company’s founders and first Airbnb guest revealed the new branding in an online presentation that featured many stories about Airbnb’s community, emphasising the company’s new core tenant of “belonging.”  “Belonging is based upon four key themes of people, places, love and Airbnb, which influenced the new symbol as part of the new company logo. The new symbol is called “Bélo” and is simple so that anyone can recreate it. It is also abstract enough to allow Airbnb to use it as it moves into offering other products and services. CEO Brian Chesky envisions that the symbol may become a “universal symbol of sharing” and be displayed by many different businesses, such as restaurants.

The company launched a tool called Create that people can use to personalise the logo.  People can put their personalised logos on merchandise, such as mugs, stamps and stickers, and purchase it through Airbnb’s partnership with Zazzle, an online company that enables customisation of products.  However, critics point out that the new logo resembles risque parts of the human anatomy and the logo is also similar to one for the company, Automation Anywhere, but both companies reached an agreement whereby Automation Anywhere will use a new logo.

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July 19, 2014

WWD Digital Forum Recap, Part 1: Heritage Brands Embrace the Digital Age

Ashma.kundeAnalyst Insight by Ashma Kunde - Apparel and Footwear Analyst

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The WWD Digital Forum, which took place on 10 July 2014, brought together top executives across fashion, beauty and retail industries to address the most pertinent issues businesses face in this ever-evolving digital landscape.

In this first recap, Euromonitor International assesses the differing online strategies of two iconic brands: the grand dame of the British high street, Marks and Spencer’s, and the crème de la crème of French luxury skincare, Clarins.

Marks and Spencer’s: e-boutiques and editor’s picks

According to Patrick Bousquet-Chavanne, Executive Director of Marketing and Business Development at Marks and Spencer’s, size can sometimes be a liability. With a fleet the size of Marks & Spencer’s, which counted 798 UK stores and 455 international stores as of July 2014, adopting and rolling out new technologies is no easy feat.

This isn’t to say efforts aren’t being made. As part of its return to the Dutch market, the retailer launched its first e-boutique on Amsterdam’s prestigious Kalverstraat. Alongside a highly edited selection of products, the store features a ‘virtual rail’ which lets customers browse through items on a touchscreen. The goal is two-fold: minimising required store space by providing access to the full inventory online, while strengthening the omnichannel concept by integrating digital aspects into the physical space.

It has become a universally acknowledged fact that a fashion e-commerce site can no longer simply be an online shop, but rather, a shoppable magazine. M&S.com has embraced this philosophy wholeheartedly in the latest iteration of its website. Editorial content is not a simple embellishment, but inextricably linked to the shopping process. Bousquet-Chavanne says its daily publishing strategy gives the retailer a point of differentiation, drives frequency of visits, and makes customers 24% more likely to convert. The edited point of view cuts through the clutter and relieves customers from the paralysis of choice.

Continue reading "WWD Digital Forum Recap, Part 1: Heritage Brands Embrace the Digital Age" »

China and India – the Most Promising Markets for Accountants and Auditors

Vita KrasodomskyteAnalyst Insight by Vita Krasodomskyte - Industrial Analyst

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Posting double-digit growth rates, the accounting and auditing markets in China and India are creating wide opportunities. Growing economies, dynamic business environments and constantly changing accounting and auditing standards are the main driving forces behind the growth in the reviewed market. Therefore, a number of accounting and auditing companies are opening offices in these countries in order to benefit from such strong expansion.


China’s and India’s total GDP grew by nearly 11% and 12%, respectively, in 2013 and is projected to grow at an even faster pace in the future. Such increases are much higher than in developed countries like the US or the UK, where growth is around 3-5%. Strong growth in the economies of China and India is driving the expansion of business activities, not only in local markets, but also internationally, thus impacting on the rising demand for accounting and auditing services.

Figure 1 Accounting and Auditing Market Growth

  accounting comms.png

Source:    Euromonitor International from National Statistics

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Function and Local Ingredients Drive Hot Drinks Sales in Peru

Dana LaMendolaAnalyst Insight by Dana LaMendola - Beverages Analyst

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Our research indicates that Peru will be the fastest-growing hot drinks market in Latin America increasing by 36% to reach US$ 818 million  by 2018. The Peruvian economy has skyrocketed in recent years, with Peru recording the fastest growth in total GDP in the region between 2008 and 2013, a trend that is expected to continue in the forecast. Rising disposable incomes are not only increasing consumer expenditure on food and non-alcoholic beverages, but are also creating more demanding Peruvian consumers. Hot drinks that are having the most success are those like fruit/herbal teas that have a functional position and other plant based hot drinks that appeal to local Peruvian traditions through the use of local ingredients


Demand for Health and Wellness Benefits

Peru is expected to be the fast growing tea market in Latin America over the forecast, increasing by 59% in retail value to record the second highest absolute value growth after Brazil. In Peru, tea is already nearly as popular as coffee in terms of at-home consumption. In 2013, per capita retail brewed volume was 6 litres, just slightly below coffee which was 6.8 litres. Although black tea (both standard and speciality) is the most traditional type of tea consumed in Peru, health and wellness trends are causing less mature categories like fruit/herbal tea and green tea to attract increasing consumer interest because of their perceived health benefits. These alternative tea types also carry a higher price tag, particularly fruit/herbal which in 2013 retailed at more than five times the unit price of black tea.

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July 18, 2014

Boom to Struggle: Changing Prospects of Cognac in China

Jeremy_Cunnington0Analyst Insight by Jeremy Cunnington - Senior Alcoholic Drinks Analyst

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Up until 2013, selling cognac in China was considered to be one of the sure fire ways of generating great revenues and profits. Between 2007-2012 volume sales grew by 119% (14.8 million litres), with retail sales up by 186% (RMB31 billion, US$5 billion). Cognac benefitted from its highly prestigious image in China and the Chinese culture of gift-giving to nurture relationships, especially with government officials and other businesses. Both factors boosted the luxury end of the cognac category.  There seemed little doubt that growth would continue.


Problems Taking Time to Appear

Even when, in October 2012, the Chinese president, Xi Jinping, announced a clampdown on government extravagance and corruption, in early 2013, cognac producers and distributors were still optimistic that the category would return to healthy growth and last year’s Euromonitor International’s forecast growth of 15% volume CAGR (27 million litres) and 16% value CAGR (RMB53.5 billion) between 2012-2017 reflected those views. The consensus opinion was that cognac’s strong image and long presence in the country would shield the category from the brunt of any negative effect, unlike the less well-established blended Scotch.

However, the anti-extravagance push has had a more deleterious effect on cognac sales than expected and has substantially curbed “gifting” by business executives offering luxury gifts to officials, who increasingly dare not accept them. Nor has it been helped by a slowing economy and investigations into the links between some on-trade establishments and prostitution. 

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July 17, 2014

Techweek Chicago 2014 Recap

David McGoldrickAnalyst Insight by David McGoldrick - Research Associate

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Techweek Chicago was held in Chicago over 23-28 June. The event centred on new technological advances that are disrupting nearly every area of commerce. Every industry – from finance and health to packaged food and tourism – is being impacted by these technological developments. The event was a chance to discuss and present on what has occurred so far and on new ideas in the pipeline.

Beacons and Mobility Create New Possibilities

Mobility was a big topic at the conference, with presenters discussing the infiltration of electronics into all aspects of life and how this will create smarter consumers, businesses and cities. Ray Velez, Global Chief Technology Officer at Razorfish, explained that growth in the number of internet-enabled devices sold will soon outpace growth in the number of children born each year. A panel on the future of location-aware marketing discussed how these internet-enabled devices (especially the combination of beacons and smart phones) could be used to enable customers to see reviews of products simply by standing in front of them. These devices could also let consumers know that items they have previously viewed online are available in the store they just entered. Others cited their potential usage in high-end boutiques and hotels, which will enable employees to recognise loyal customers and provide a personalised level of service.

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Heineken NV: Reaching Out to Africa’s Growing Beer Market

Amin AlkhatibAnalyst Insight by Amin Alkhatib - Alcoholic Drinks Analyst

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Heineken NV is opening a third brewery in Ethiopia in 2014 in an effort to expand in African markets. This is expected to be the world's fastest-growing region in beer volume sales, in percentage terms, in the 2013-2018 period. The Middle East and Africa (MEA) is forecasted to grow, according to Euromonitor International, by a 5% CAGR in total volume sales. The significance of this logistical move derives from the company’s strategy to dominate the continent’s second-most populous market.

Africa’s population size, untapped low-income consumer expenditure, growing incomes and rate of urbanisation are all playing a part in its global significance. It is no surprise that global companies like Heineken are looking to get a stronger foothold in this continent, but they have to contend with incumbent brewers, especially SABMiller Plc.

Demography and Economy in Favour of Africa

As the urban population is expected to grow at 3% CAGR over 2013-2018 in the MEA, and the population is expected to grow by a CAGR of 2%, Heineken is looking towards a growing consumer base. But let’s not forget that growth of a beer consumer base will also depend on the degree of social mobility, and growing accessibility of low-income consumers to beer markets via affordability.    

Source: Euromonitor International from national statistics/UN

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July 16, 2014

Hemp Ice Cream and Champagne Popsicles to Target the Mellow and Buzz Mood Demographic

Lianne van den BosAnalyst Insight by Lianne van den Bos - Food Analyst

View Karine Dussimon's profile on LinkedIn

Maturity, health-conscious consumers and a decline in product launches have all contributed to a slowdown in ice cream sales in saturated markets such as the US and the UK. However, whilst Unilever and Nestlé dominate overall sales of ice cream, with a combined global value share of 35%, a somewhat controversial revolution is brewing in the background, targeting the ultimate indulgent experience.  Will hemp-infused ice cream and alcoholic popsicles pioneer the wave of craft ice cream? Euromonitor International takes a closer look at the rise of craft ice cream and how Unilever and Nestlé should take pointers from two university graduate entrepreneurs.

hemp ice cream_small_small.jpgRetail ice cream sales in the US posted a 1% decline in 2013 compared to historic average growth of 2%, primarily due to a drop in product innovation, consumers switching to healthier products outside ice cream, such as Greek yoghurt or fruit, or opting for cheaper formats. The UK paints a somewhat different picture; growth has also slowed down, but still registered a 5% value increase in 2013, compared to 7% in 2012

New Product Launches in Craft Ice Cream

While major manufacturers have been busy trying to launch healthy ice cream formats or jumping on the Greek yoghurt bandwagon, a new wave of entrepreneurs are instead focusing on flavour, excitement and, above all, provocative product innovation. Hemp-infused ice cream by Relaxation Solutions, a subsidiary of Bebida Beverage Company (BeBevCo), is expected to be launched in the US by August this year. The company is partnering up with 80s comedy duo Cheech and Chong to be the face of this ‘’relaxation’’ ice cream, which claims to contain 5mg of hemp per half pint serving. With some states in the US having already legalised recreational marijuana use and more to follow this year, it’s quite the catchy product launch of 2014.

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July 15, 2014

Euromonitor Celebrates Winning the Queen's Awards for Enterprise 2014


image from http://s3.amazonaws.com/hires.aviary.com/k/mr6i2hifk4wxt1dp/14071516/246f9e0e-d8cc-48ac-aac8-d292b5fdc298.png
Trevor Fenwick and Robert Senior receive the Queen's Awards for Enterprise


The Queen’s Awards for Enterprise is the UK’s most prestigious business award. Euromonitor received The Queen’s Awards for Enterprise: International Trade due to its substantial international sales growth of 155% over the past six years and its contribution to UK exports, with over 90% of the company’s turnover now coming from outside the UK.

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One Quarter of the World’s Educated Population Resides in Just 100 Cities

UgneSaltenyteAnalyst Insight by Ugne Saltenyte - City Analyst

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With governments recognising the link between education and economic competitiveness, education standards are rising globally. Increased prioritisation of primary and secondary education is translating into rising uptake of tertiary education in many economies. The number of people with higher education globally rose from 518 million in 2005 to 704 million in 2013, with 24% of the latter amount being concentrated in the top 100 largest metropolises worldwide. To put this into perspective, these metropolises accounted for just 11% of the global population in 2013.

World’s Most Educated Cities: Share of Population Aged 15+ Years with Higher Education 2013

Source: Euromonitor International

Continue reading "One Quarter of the World’s Educated Population Resides in Just 100 Cities" »


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