India’s food services industry is on track for significant growth, projected to reach ₹7.76 trillion by 2028, driven by rising incomes and changing consumer habits. This expansion is fueled by millennials and Gen Z consumers, and the organized sector is expected to dominate the market. The industry is advocating for government support, including ‘industry status’ and tax reforms, to further accelerate growth and create more job opportunities.
A recent survey by Wakefield Research has unveiled the significant impact of loyalty programs on American travel trends in 2024. Over 70% of credit cardholders believe they benefit more from their rewards programs than the effort they put in. Rewards points are considered a crucial part of the budget for 37% of travelers in loyalty programs, particularly for Millennials (78%). Many travelers (76%) indicate that they would be unable to take the same quality trips without these benefits. Furthermore, 77% agree that their travel behavior would change significantly without rewards, potentially leading to different provider selections, cheaper accommodations, less convenient travel methods, or shorter trips. Despite having the lowest business travel rate (7%), Baby Boomers dominate leisure travel (93%). Millennials emerge as the most frequent business travelers (30%) and are also highly likely to be enrolled in a rewards program (83%), prioritizing airline miles (72%) and hotel points (67%). The survey’s findings highlight the essential role of rewards and loyalty programs in the resurgence of both personal and business travel, emphasizing their value in supporting the demand for domestic and international trips as well as upgrades.
Keith Prowse’s ‘BEYOND THE GAME’ report reveals a shift in consumer priorities, with experiences taking precedence over material goods. Generational differences and social dynamics are driving this trend, leading to a surge in demand for premium experiences at sports, entertainment, and lifestyle events. Keith Prowse aims to cater to this evolving landscape by introducing innovative concepts that align with these changing consumer values.
Retail expert Stephanie Hood from The CMO shares her insights into how retailers use various tactics to persuade shoppers into spending more. These methods include urgent-sounding mistake messages, limited-time flash sales, cart abandonment emails offering discounts, and introducing decoy products to influence buying decisions.
A groundbreaking report series from Digital Turbine and Qrious Insight reveals the importance of adjusting media strategies to reach audiences that spend more time in mobile game channels. The research highlights how QSR brands could have significantly increased their reach by effectively targeting the Mobile Gaming-First segment.
Novo Nordisk’s recent surge in market capitalization has highlighted the growing popularity of semaglutides, a new class of weight loss drugs. These drugs are showing promise as a less invasive alternative to injections like Ozempic, and are attracting interest from consumers and manufacturers alike. Social listening tools, powered by artificial intelligence (AI), are proving invaluable in monitoring and understanding the rapidly growing conversation around semaglutides online. By analyzing consumer posts, CPGs can identify emerging need spaces, understand brand perception, and anticipate future consumer demand.
Despite the growing popularity of plant-based meat alternatives, most consumers still hesitate to order them in restaurants. A new study identifies six types of diners who avoid these dishes, ranging from those who are environmentally conscious but prefer traditional vegetable dishes to those who are skeptical of the technology used to create plant-based meat. The study highlights the need for restaurants to find creative ways to promote plant-based meat dishes to overcome these barriers.
The global digital video ad market is poised for significant growth, with an estimated CAGR of 37.19% from 2023 to 2027. This growth is driven by increasing digital consumer spending, particularly in the e-commerce sector, as well as the rise of non-conventional platforms such as OTT media platforms, social media applications, and connected TVs. Brands are responding to this shift in consumer behavior by investing in service delivery methodologies that cater to this demand, utilizing vertical filming, videography, and recording equipment to create engaging digital content.
The social networking market is booming, with an estimated 3.6 billion users worldwide. Businesses are leveraging this platform for advertising, in-app purchases, and app purchases. Factors such as location, interests, and online activity influence consumer behavior in this market. Data analytics and artificial intelligence enable businesses to tailor their offerings and engage with their audience effectively. The social networking market is a dynamic and ever-evolving space, with new trends and technologies shaping the way we connect and communicate.
Intuit Mailchimp’s latest report, “The Science of Loyalty,” delves into the science behind loyalty and provides 12 actionable tactics that brands and marketers can leverage to foster meaningful customer relationships. The report emphasizes the importance of understanding the key principles of loyalty, including reward, memory, emotion, and social interaction. By harnessing these principles, brands can move customers along the “commitment spectrum” from inert to fandom loyalty. The report also highlights the role of data-driven insights in tailoring loyalty strategies to different customer segments and meeting their evolving needs.
