Maguelone Paré-Harroch

Cecile Beliot-Zind, 𝗖𝗘𝗢 𝗼𝗳 Bel, 𝗶𝘀 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗴𝘂𝗲𝘀𝘁 𝗼𝗳 𝗼𝘂𝗿 𝗚𝗿𝗼𝘄𝘁𝗵 𝗙𝗠𝗖𝗚 𝗖𝗘𝗢 𝗣𝗼𝗱𝗰𝗮𝘀𝘁 𝗖𝗲𝗰𝗶𝗹𝗲 𝗶𝘀 𝘁𝗵𝗲 𝗖𝗘𝗢 𝗼𝗳 Bel, 𝗮 €𝟯.𝟲𝗯𝗻 𝗿𝗲𝘃𝗲𝗻𝘂𝗲, 𝗳𝗮𝗺𝗶𝗹𝘆-𝗼𝘄𝗻𝗲𝗱, 𝗴𝗹𝗼𝗯𝗮𝗹 𝗛𝗲𝗮𝗹𝘁𝗵𝘆 𝗦𝗻𝗮𝗰𝗸 𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝘄𝗶𝘁𝗵 𝟭𝟮,𝟬𝟬𝟬 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀 & 𝘄𝗶𝘁𝗵 𝗮 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗼𝗳 𝗶𝗰𝗼𝗻𝗶𝗰 𝗯𝗿𝗮𝗻𝗱𝘀 (𝗧𝗵𝗲 𝗟𝗮𝘂𝗴𝗵𝗶𝗻𝗴 𝗖𝗼𝘄, 𝗕𝗮𝗯𝘆𝗯𝗲𝗹, 𝗚𝗼 𝗚𝗼 𝗦𝗾𝘂𝗲𝗲𝘇𝗲, 𝗲𝘁𝗰.) 𝗧𝗵𝗶𝘀 𝗳𝗶𝗿𝘀𝘁 𝗲𝗽𝗶𝘀𝗼𝗱𝗲 𝗵𝗮𝘀 𝗶𝘁 𝗮𝗹𝗹:  ⚫An authentic CEO ⚫A personal leadership journey from dreaming of becoming a ballet dancer to becoming a CEO ⚫A purpose-led FMCG company with a singular path that has been going through an accelerated strategic transformation (category & market footprint, divesture & acquisitions, strategic partnerships) ⚫An objective view on alternative protein categories & on our Food system ⚫A much needed strategic take on Sustainability & how to turn it into a long-term source of competitive advantage ⚫A honest discussion on what remains the largest strategic taboo in the FMCG industry ⚫A refreshing perspective on gender diversity & what it takes to close the gap ⚫What it means to play an infinite game ⚫Plenty of replicable learnings for most in the FMCG industry ⚫The overall discussed in a very candid & detailed way (1h40 duration) This was one of those exchanges that felt like it only just got started Thank you again Cecile for this candid & warm exchange. I thoroughly enjoyed it 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿 𝘁𝗵𝗲 𝘁𝗲𝗮𝘀𝗲𝗿 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗳𝗶𝗿𝘀𝘁 𝗲𝗽𝗶𝘀𝗼𝗱𝗲 𝗯𝗲𝗹𝗼𝘄 𝗧𝗵𝗲 𝗳𝘂𝗹𝗹 𝗲𝗽𝗶𝘀𝗼𝗱𝗲 𝘄𝗶𝗹𝗹 𝗯𝗲 𝗿𝗲𝗹𝗲𝗮𝘀𝗲𝗱 𝘁𝗼𝗺𝗼𝗿𝗿𝗼𝘄 𝗮𝘁 𝟵 𝗮𝗺 𝗖𝗘𝗧 𝗼𝗻 𝗼𝘂𝗿 𝗟𝗶𝗻𝗸𝗲𝗱𝗜𝗻 𝗻𝗲𝘄𝘀𝗹𝗲𝘁𝘁𝗲𝗿 (https://lnkd.in/ea4gy65y) 𝗮𝗻𝗱 𝘄𝗶𝗹𝗹 𝗯𝗲 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗮𝗰𝗿𝗼𝘀𝘀: - 𝗬𝗼𝘂𝗧𝘂𝗯𝗲 (https://lnkd.in/eXXnmHtC) - 𝗦𝗽𝗼𝘁𝗶𝗳𝘆 (https://lnkd.in/et9rbcQC) - 𝗔𝗽𝗽𝗹𝗲 𝗣𝗼𝗱𝗰𝗮𝘀𝘁 (https://lnkd.in/er7HSdnz) To ensure the interview is easy to watch, it will be broken down in thematic chapters of ~10' 𝗘𝘅𝗰𝗶𝘁𝗶𝗻𝗴 𝘁𝗶𝗺𝗲𝘀 𝗔𝗯𝗼𝘂𝘁 𝘂𝘀: FF&A solves the most complex strategic problems of the world largest FMCG companies across Corporate Strategy, Organic Growth, Digital RTM (Ecommerce, DTC and EB2B) and M&A. 14 out of the world 20 largest FMCG companies are repeat Clients (https://lnkd.in/dc6jY4Qp) #fmcg #cpg The Coca-Cola Company PepsiCo Procter & Gamble Unilever The HEINEKEN Company Danone Carlsberg Group AB InBev Henkel Reckitt Haleon Opella Bayer | Consumer Health Kenvue Bel Mars Ferrero Mondelēz International Lindt & Sprüngli JDE Peet's Keurig Green Mountain, Inc. Keurig Dr Pepper Inc. Inc. Campbell's General Mills Kimberly-Clark Essity Diageo Pernod Ricard Campari Group L'Oréal The Estée Lauder Companies Inc. Coty Beiersdorf https://lnkd.in/dpQjv_Jf

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It was a pleasure to be in Brussels yesterday with Avery Dennison moderating an engaging panel – Connecting Physical and Digital: How digital labels enable circular business in Europe. With insights from Hervé d'Halluin from DECATHLON, Julia Ettinger (Blees) from the European Recyclers and Sorters Association and Francisco Teixeira e Melo from Avery Dennison, we explored how digital identification solutions can transform the textile industry, enable digital product passports and empower consumers to make more sustainable choices. My key takeaways from yesterday's discussion are that digital labels will play a critical role in driving transparency across the textile value chain: 👁️ Improving visibility of items in the supply chain 👕 Educating consumers on how to care, repair and resell textile products ♻️ Enabling effective sorting and recycling at end of life Digital product passports create the opportunity to drive transparency while also ensuring European businesses remain competitive. To make this happen, collaboration and partnership across the textile value chain, from manufacturers to solution providers to retailers to sorters and recyclers, will be absolutely essential. #CircularEconomy #Sustainability #TextileIndustry #DigitalLabels #DPP #WasteReduction #Recycling #Ecodesign #MakingPossible

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Sharing highlights of our recent whitepaper on Digital Marketplaces from Jim Okamura and other Ebeltoft Group leaders. #retailstrategy

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#Breaking news : Carrefour Belgium x wœmen for smart ESG engagement Sharing the same values of inclusion and gender equality, we are supporting and launching the creative and intelligent initiative of our new partner wœmen initially as a test phase at Carrefour Belgium HQ and at Carrefour Auderghem hypermarket, then to be setup soonest at all Carrefour stores in Belgium. ✅ 1 pair of man boxer shorts purchased = 4 x women periodical protections redistributed by Woemen Special thanks to Cyrielle Mothes and Enola FILLAUDEAU, co-founders of Woemen for this awesome concept and concrete application 👏 Carine Kraus, Geoffroy Gersdorff, Matthieu Ullens, Regine Van Tomme, Ivo Pareyns, Siryn Stambouli, Paul Peugnet, Yannick de Bièvre, Arthur Bradfer, Etienne van Zuylen #inclusion #gender #equality #carrefour #Belgium #ESG #support #innovation #engagement

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How do you win 52 Lions in 4 years ?   Last week Dove won 13 Lions at Cannes ‘24, amongst which a very ‘special’ Gold Lion in one of the most meaningful categories: ‘Creative Effectiveness’. This result added up to our consistent performance in the previous 3 years, taking Dove to a total of 52 Lions and more than 170 shortlists in the last 4yrs (the post Covid era…). With Unilever named Creative Marketer of the Year for 2024.   During Cannes week, in different speaking opportunities, I was asked how did we manage to maintain such a steady performance. Whilst there are several reasons behind this achievement, I’d like to focus on the three most important ones :   1.     A DEEP BELIEF IN THE POWER OF CREATIVITY We consciously decide to ‘invest’ on creativity, since creativity has the power to build strong emotional connections and help brands stand out and be different, a power that is even more precious in days in which brands’ salience and differentiation is increasingly challenged by drivers such as the fragmentation of media, the explosion of performance marketing and the exponential growth of AI.   2.     STRATEGIC CLARITY Having sharp brand clarity is critical to ‘channel’ creativity in the right direction, building brand relevance, differentiation and memory structures consistently. In my experience not enough time is spent on this by marketers. Some questions are particularly critical. Is the brand so clear that what it stands for can be expressed in 1 or 2 words (in our case ‘’Real Beauty’’) ? Does it have a point view about the world that people really care about and helps guide everything it does ? In our case, this point of view or belief system is our Mission – ‘’to change beauty from a source of anxiety to a source of happiness’’. And finally, is the team clear about the brand boundaries (what the brand does and does not, what it talks about and not….) and the distinctive brand assets, so that they can build the brand consistently and not spread themselves too thin ?   3.     TALENT AND CULTURE Delivering consistently outstanding creativity requires highly experienced talent that is able to combine magic and logic and value strategic rigour as much as ‘crafting’. This combination is not easy to find and such talent needs to be nurtured. It also requires a culture of excellence (we tend to talk internally about ‘Allergy to second best’) as well as true agile mindset. It is not by chance that two of our most famous Grand Prix campaigns were developed in 6 days (‘Courage is beautiful’) and 72hrs (‘#Turnyourback’).   This is our experience but I am sure other people might have other learnings and tips and would be curious to hear…   Last but not least, yet again, a massive thank you all our incredible partners and my team for another outstanding Cannes week.   #LetsChangeBeauty #Dove #CannesLions #RealBeauty #Ogilvy #Edelman

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I am very proud to share an exciting milestone of Douglas Marketing Solutions : We’re redefining the boundaries of Retail Media by empowering brands and agencies with cutting-edge innovations: our new self-service platform for on-site advertising and strategic data collaborations with The Trade Desk and cmmrcl.ly! 🎉 Douglas premium audiences can now be activated off-site across CTV, DOOH, mobile and audio inventory via The Trade Desk for agencies and brands. But we didnt stop there but wanted to open up 1P data activation also on social channels. Thus we partnered up with cmmrcl.ly to offer advertising solutions that combine platform inventory with our exclusive 1st party data on social walled gardens. Here’s what’s coming: ✨ Self-Service Platform: Media partners across nine countries will gain direct access to book on-site placements on DOUGLAS channels. This platform offers unmatched flexibility, precision, and impact, catering to all partners, including the mid- and long-tail. Currently in soft launch, it will open to all partners in Q1 2025—an incredible opportunity to scale advertising across Europe. ✨ New Audience Solutions: Through strategic collaborations with The Trade Desk and cmmrcl.ly, we’re creating something truly special—leveraging premium beauty data for precise targeting. Whether it’s inside or outside the DOUGLAS network, brands will have tools to connect with their audiences like never before. The feedback we’ve received from our partners has been so inspiring Robert Kießling at The Trade Desk summed it up perfectly: “Reliable identification of target groups and high-quality retail data are indispensable for successful campaigns. DOUGLAS’ data opens up completely new opportunities for advertisers.” And I couldn’t agree more with cmmrcl.ly’s insight: “Custom targeting solutions based on specific product features are what the industry needs, and that’s exactly what we’re delivering together.” What really excites me is the potential of this innovation to reshape the beauty industry with amazing partners and set new standards for data-driven marketing. 🚀 Let’s keep transforming the way we think about marketing in beauty! #RetailMedia #Innovation #DataDriven #DigitalMarketing #BeautyIndustry #selfservice https://lnkd.in/eRbnR3JJ https://lnkd.in/eD5v9BWE

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🏆 gebana: Switzerland's #1 Sustainable Brand! 🇨🇭 Exciting news! The latest Havas brand predictor is out, and gebana has achieved a surprising result: 🚀 8th Most Dynamic Brand in Switzerland 🌿 #1 Sustainable Brand in the country With over 4,500 participants, this survey paints a truly representative picture. We're both proud and humbled - it's a powerful reminder of our obligation to pursue our mission without compromise. 📊 Brand Awareness Surprise: We also measured gebana's prompted brand awareness for the first time. Before the big reveal, we had an internal guessing game: Lowest guess: 2% Most optimistic (mine 😂): 15% And the result was? We're at 18%! This means gebana is breaking out of its specialist bubble - every fifth Swiss person knows our brand! 🎉 Great news, but we still have got 82% to go! 💪 Join us on our journey to make sustainability the norm, not the exception. #gebana #Organic #FairTrade #Sustainability #SwissBrands #HavasBrandPredictor

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Leading with conviction can transform your organization - in this article, Frédéric Oudéa, CEO of Société Générale, shares insights on driving change and fostering a resilient corporate culture. Discover strategies for effective leadership, managing crises, and aligning team efforts with organizational goals. Learn how conviction and strong values can lead to sustainable success #Leadership #OrganizationalCulture #ChangeManagement #Resilience https://lnkd.in/gNs4ysVT

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Fondation L'Oréal and Ipsos are conducting an international survey which aims to understand the experiences and identify the needs of those working in climate change, with a special focus on women. The results will be publicly shared at the New York Climate Week in September, to contribute to the open discussions on this topic and help identify actions that must be put in place to support climate professionals. The aim is to highlight what is currently representing a barrier for climate professionals and see how we can collectively address these barriers. Click the link below to take you to the survey and and/ or repost to spread the word. https://lnkd.in/gx-X_asH Maÿlis Buonomo #womenandclimate #climateprofessionals #ipsos #survey

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An interesting (good news !) report on how more #inclusive #brands are growing 1.5x faster than their less inclusive competitors! Worth downloading the report from SeeMe Index in partnership with Circana An Extract : What differentiates the most Inclusive brands? 👉🏽 They see inclusivity as an organisational approach 👉🏽 Intersectional thinking 👉🏽Transparency Doing good is good business, folks. Links in comments.. Asha Shivaji SeeMe Index 👌🙌 #InclusiveBrands #InclusiveMarketing

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Achieving #BCorp™ certification is not just about meeting standards; it's about driving meaningful change and validating a deep commitment to sustainability. #Nespresso's journey, supported by dss+, highlights the power of collaboration, transparency, and dedication. By integrating sustainability at every level, we can transform businesses into forces for good, impacting both people and the #planet positively. #BCorpCertification #Sustainability #CorporateResponsibility #BusinessForGood

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Dom Pérignon’s brand strategy is built on three pillars: heritage, craftsmanship, and luxury. While its messaging evolves – transitioning, for example, from the theme of “the power of creation” to a current focus on “a quest of harmony” – the core of its brand personality remains consistent, emphasizing attributes such as precision, intensity, complexity, and completeness. https://buff.ly/3OLzdGH #brandstrategy #branding #positioning #brandmanagement #casestudy

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Ecoscore : knowing the environmental impact of each product will drive consumer choice, brand product development and gouvernmental taxes : a necessary tool to move forward together! Thanks Fairly Made® and Laure Betsch thanks Pascal Dagras for driving the methodological discussions and of course thanks agnès b. teams for a great transverse job in this projet

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A new pop up by Arnaud Lesne and his dynamic team. But don’t just see it as just branding. It is more than that. My 20/CENT about it can be read on the latest article on 20/CENT Retail #retail #concept #popup #digital #business

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In an era overshadowed by escalating environmental concerns and the imperative pursuit of ethical consumerism, sustainability has emerged as a pivotal factor in shaping brand identity and consumer choices. This shift is especially pronounced in the French market, where a rich tradition of environmental consciousness meets a discerning consumer base. In this article, we explore the multifaceted role of sustainability in branding for the French market, deciphering how it influences consumer behavior, brand perception, and market success. 💡 🚀 #FrenchMarket #BusinessInFrance #Sustainability #Branding

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The luxury market is changing with brand desirability and consumer needs evolving at speed. We believe that brand desirability and operational excellence are inextricably linked and companies that invest in both, financially outperform their competitors. Our report details how luxury leaders are getting the job done.

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The way millions eat, exercise and monitor their health is undergoing major metamorphosis—and it’s all due to GLP-1s, like Ozempic. The trend will transform countless consumer categories. Here are the biggest bets: ↗ 𝗙𝗼𝗼𝗱 + 𝗕𝗲𝘃: consumers using semaglutides are choosing differently and, on average, purchasing 8% less food vs. the year prior. Mike Proctor, Director of Client + Category Partnership, already sees behavior shifts from the brands winning: "The ones that have best responded to the GLP-1 pivot are not only offering healthier alternatives with vitamins, supplements, and other functional ingredients, but are also communicating their relevance via customized websites and social, explaining to consumers why they deliver value in this new world." ↗ 𝗕𝗲𝗮𝘂𝘁𝘆: consumer engagement in beauty will deepen, both to solve GLP-1-related effects (think skin sagging and bone density loss) and to support many users’ newfound self-confidence. “As confidence grows, consumers may be more willing to invest in luxury beauty products or personalized skincare that keeps them feeling and looking good,” says Caroline Dunn, Director of Client + Category Partnership and beauty CPG expert. “There’s big opportunity for premiumization here.” ↗ 𝗢𝘃𝗲𝗿-𝘁𝗵𝗲-𝗖𝗼𝘂𝗻𝘁𝗲𝗿: no surprise, one of the categories poised for biggest growth is OTC. “Expect to see dramatic spikes in protein supplements, vitamin injections, hydration drinks, probiotics and fiber supplements, which are projected to grow to a market size of $5.7B by 2030,” says Chief Marketing Officer, Valerie Jacobs. And it’s not just CPGs that will see the benefits: “services like nutritional counseling, medical monitoring, fitness programs and wellness clinics will also see growth.” For Jacobs’s full overview of GLP-1’s impacts on the landscape, head here: https://okt.to/huTYqZ #GLP1 #semaglutide #ozempic #beautyCPG #foodandbev #OTC #CPGstrategy

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𝗠𝗼𝗿𝗲 𝗽𝗹𝗮𝗻𝘁𝘀 𝗰𝗹𝗼𝘀𝘂𝗿𝗲 𝗮𝗵𝗲𝗮𝗱 𝗳𝗼𝗿 𝗨𝗦 𝗙𝗼𝗼𝗱 We expect the world largest food FMCG players to accelerate plants closure in a context volume keeps dropping as price elasticity materializes, especially in the US, which is the most exposed to the current de-consumption/ downtrading trend (cf. last quarters results of the world largest food FMCG companies) US Food (which is nothing less than ~25% of the global FMCG market) is the most exposed for few reasons: 1) Food has the some of the lowest gross margin in the FMCG industry so the operational deleverage (the profitability decline driven by volume decline) is there one of the most violent (it is not uncommon to see 200bps volume decline for a F&B business translating into ~80 bps profitability decline - the challenge is some US food businesses are declining 1-3% now for 2 years) meaning that on-going manufacturing footprint adjustment is critical to maintain a competitive cost-base 2) Food has recorded some of its poorest volume performance over the last 2 years in the US (cf. performance of Campbell's, General Mills, Kraft Heinz but also US entities of some of the world largest food companie - e.g. Mondelēz International) 3) The overall in a context where the average US consumer calories in-take is ~4000 calories (where it should be 2000 calories) & where GLP1 drugs penetrations (currently 13%) keep increasing The overall could objectively create a perfect storm More details in our Q1 2024 results publication: 𝗙𝗠𝗖𝗚 𝗖𝗘𝗢𝘀: 𝗤𝟭 𝟮𝟬𝟮𝟰 𝗥𝗲𝘀𝘂𝗹𝘁𝘀 𝗜𝗻 𝗥𝗲𝘃𝗶𝗲𝘄 - 𝗧𝗵𝗲 𝗣𝗿𝗶𝗰𝗶𝗻𝗴 𝗧𝗶𝗱𝗲 𝗜𝘀 𝗡𝗼𝘄 𝗚𝗼𝗶𝗻𝗴 𝗢𝘂𝘁 https://lnkd.in/eqtWZjxV 𝗧𝗶𝗺𝗲 𝘁𝗼 𝗿𝗲𝗳𝗼𝗰𝘂𝘀 𝗳𝗼𝗿 𝗮𝗹𝗹 𝗼𝗻 𝗼𝗿𝗴𝗮𝗻𝗶𝗰 (𝘃𝗼𝗹𝘂𝗺𝗲) 𝗴𝗿𝗼𝘄𝘁𝗵 Exciting times To read our last publication on how to accelerate organic (volume) growth: 𝗙𝗠𝗖𝗚 𝗖𝗘𝗢𝘀: 𝗠𝗮𝗻𝗮𝗴𝗶𝗻𝗴 𝗙𝗶𝗻𝗮𝗹𝗹𝘆 𝗙𝗼𝗿 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 (𝗩𝗼𝗹𝘂𝗺𝗲) 𝗚𝗿𝗼𝘄𝘁𝗵 𝗢𝗿 𝗛𝗼𝘄 𝗧𝗼 𝗦𝘁𝗼𝗽 𝗦𝗵𝗿𝗶𝗻𝗸𝗶𝗻𝗴 𝗧𝗼 𝗚𝗹𝗼𝗿𝘆 - 𝗙𝗿𝗼𝗺 𝗭𝗕𝗕 𝘁𝗼 𝗭𝗕𝗚® (𝗭𝗲𝗿𝗼-𝗕𝗮𝘀𝗲𝗱-𝗚𝗿𝗼𝘄𝘁𝗵) https://lnkd.in/eV5d39VE 𝗧𝗼 𝗴𝗲𝘁 𝗮𝗹𝗹 𝗼𝘂𝗿 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀, 𝗳𝗼𝗹𝗹𝗼𝘄 𝘂𝘀 & 𝘀𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗲 𝘁𝗼 𝗼𝘂𝗿 𝗙𝗠𝗖𝗚 𝗖𝗘𝗢 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗻𝗲𝘄𝘀𝗹𝗲𝘁𝘁𝗲𝗿: https://lnkd.in/ea4gy65y #fmcg #cpg Nestlé The Coca-Cola Company PepsiCo AB InBev Unilever Procter & Gamble Mondelēz International Kraft Heinz L'Oréal Danone The HEINEKEN Company Bel Reckitt Kenvue Sanofi Haleon Pernod Ricard Diageo General Mills Campbell's Conagra Brands The Hershey Company JDE Peet's Ferrero Mars Lindt & Sprüngli https://lnkd.in/eRRHKVXN

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How big is the real boost in value generation from multichannel activation ? ​Hereby some findings from our latest study that I found worth sharing. Multi-channel customers represent 3​% to 11% of customers and 6​% to 24% of revenue in the apparel and cosmetics sector.   Multichannel customers ​therefore generate a significantly higher customer value compared to the average customer. However frequency bias is inherent in multi channeling​: At first sight, ​o​ne could wrongly conclude that multi-channel customers generate a lot more revenue than single channel customers (2.7 times more in the apparel sector and 2.4 times more in cosmetics). This higher value can be explained by the higher purchase frequency as they make 2 to 3 times more purchases. ​While these findings are impressive, their value is somewhat inflated due to the definition of a multi-channel customer itself.  Indeed, to be considered multi-channels they must have made at least two purchases, unlike single-channel customers, which generates a construction bias. After adjusting for this bias by considering only single-channel customers who have also made at least two purchases, the value of multi-channel customers remains higher, but the gap narrows​ materially.  Multi-channel customers generate 1.3 times more revenue per customer than single-channel customers, compared to 2.6 times before adjustment. ​The gap has been divided by 2.​ This is how big a construction bias can be.. After the adjustment has been made, the higher value of multi-channel customers can still be explained by a higher purchase frequency (x1.2 in the apparel sector and x1.15 for the cosmetics)  ​Even though for some brands the average basket or the number of articles/transactions can also have an impact​, purchase frequency is by far the biggest value contributor. ​Underlying assumptions that might explain the higher value of multichannel customers are as follows: ​1. Higher engagement and loyalty due to more touchpoints with the brands ​2. A more convenient and satisfying shopping experience with the ability to switch between online and offline ​3. Access to a wider product catalog (store offers + online offers)

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