RE: Ingenuity - Fold, Hold, Twist31 Dec 2022 09:10
So the bigger long term opportunity IMO is to partner one or two of the global FMCG conglomerates, Nestle is showing the way with taking a customer view through life stages. This approach has been around for well over a century with the Insurance companies being fantastic at it.
They have a Cradle to Grave customer Journey and 100 years ago the agent from the pru was tasked with understanding all key life stages that were happening with their customers and their families and crucially their neighbours and friends especially if they weren’t Pruc customers. The company still does that today but use data from computers.
The products were designed for the stages and sales approaches made as these life stages happened.
So Nestle how are they wanting things to happen going forward., IMO they want to be able to track life stages of their customers across brands rather within brands, they are great at in brand stuff where they have worked hard at it,.
Take me I am a Nestle on line customer through Nespresso almost since the year it started, they know all about our coffee purchasing, the know how often we descale the machine they know we went to London and tried Vertu in their shop but stayed with Nespresso original.
They probably don't know we replaced the coffee machine a few years ago at John lewis.com or that we buy nestle dog food from Zooplus.com a major german on line supplier of animal food and equipment, bought for around 3.5 billion by PE a few years ago if buy memory serves.
So they want me to be a Nestle customer and have all my data in one place. Until we started having this debate if you asked me if i was nestle customer i would have said no, if you asked me if i was aJohn lewis customer i would say yeas loyal for 25 years because of these things.
So nestle wants change and they are showing how they are going to do it.
The new China centre points the way..to do that for the UK, they will need large capacity warehouses fantastic systems and automation great IT to capture and analyse data. This all needs to be supported by highly skilled staff that can make fast changes to systems and data production, people that can make sound judgments about customer trends and so on.
Not many companies can press button to start that in the UK, in fact i would bet there is only one and i hold some shares. LOL
So THG challenge is to get one of the great names on their customer list to do Nestle in the UK or perhaps even Nestle itself.
The other challenge is what to do with Nutrition and Beauty...
Most companies would love to have these problems..i am very confident in the abilities of the Good lord, MM and the staff in THG.
I am holding for a few years to see what happens
Gl all
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