Information and inspiration for marketers – real-time ONS, Creativity, Families, Post and the everyday economy
ONS developing real-time economic indicators
ONS (Office for National Statistics) are developing a new system to monitor real-time data from the supply and demand of goods throughout the UK economy. How will this help marketers? Previously it took months for collation, along with the complexity of different reporting deadlines.
By fusing data from multiple UK official sources, it will give advanced notice of economic developments, impact of Brexit, movement of goods and consumer trends. This information will reveal the impact on inflation and hence help pricing policies for firms. The ONS will start publishing insights from April 2019. Wallace, (2019).
Putting a value on creativity
According to Scheckner (2019), the Creative Economy is worth over £100 billion to the UK. What does this include? Typically fashion, advertising, music, technology, media and design. The sector has shown phenomenal growth since 2010 and complements leading UK sectors such as financial services, car manufacturing and technology. London leads the pack for creative excellence events, along with an army of talented in-house roles, agencies and individuals within the gig economy across the UK.
But according to MPs, some industries feel ignored…
Steel, Retail and Hospitality sectors, feel left behind by the UK industrial strategy. Also known as the ‘everyday economy’ these sectors employ millions. They feel that funding has been too focussed on hi-tech and fast-moving industries such as aerospace, life sciences, creative, car and offshore wind sector. Tovey and Wallace (2019)
M&S focuses proposition to families
With 6,500 products on the roster for M&S Food, the company is starting to push awareness of its full range for families. Whilst not all stores offer the full complement as yet, the company will be offering this with its Ocado proposition. The move comes after the company further reviewed its targeting with a focus on the weekly shop for families, whilst still focussing on singles and couples, Chowdhury (2019). As part of this family strategy, M&S have partnered with Britain’s Got Talent, prior sponsors include Virgin Media and Domino’s, Hammett (2019).
Royal Mail using urban mobility e-trikes
In a bid to reduce carbon emissions, Royal Mail are starting a six month trial of e-Trikes in Sutton Coldfield, Cambridge and London. The bikes are powered by solar and pedal power (assisted by an electric motor). The timing of the trial coincides with a Royal Mail milestone, when, 120 years ago they first used motorised vehicles to deliver post. The postal company employs 90,000 postmen and women.