MediAvataar's News Desk
Executives from WPP, the world leader in communications services (LSE:WPP), joined elected officials at 3 World Trade Center to cut the ribbon marking the opening of its latest major office co-location.
The Group will begin moving the first of 4,000 of its New York-based people from GroupM and Kantar to the new building next month.
WPP is leasing 700,000 square feet on 13 floors of 3 World Trade Center and is the anchor tenant. The campus will house just over 35% of WPP’s over 10,000 people working in the New York metropolitan area.
Having debuted its co-location strategy in Chicago in 2005, today WPP has North American campuses in New York City at 3 Columbus Circle, the Chocolate Factory on the West Side, 200 Fifth Avenue and 466 Lexington Avenue, as well as Dearborn, MI, and Toronto. In Europe, the Group has campuses or lease commitments in Amsterdam, Hamburg, Lisbon, London, Madrid and Milan. In Latin America, WPP has co-locations in Bogotá, Mexico City and São Paulo, while in the Asia Pacific region it has Kuala Lumpur, Melbourne, Shanghai, Singapore and Sydney.
“WPP’s campuses are a very effective way to foster collaboration so that clients have simpler access to the best of our talent,” said Mark Read, Chief Operating Officer of WPP. “By making it easier for our people to work together, we make it easier to give clients what they want: agile, integrated solutions, world-class creativity and technology and the great work that results.”
“We’re proud to be the anchor tenant of 3 World Trade Center,” said Kelly Clark, Global CEO of GroupM. “Lower Manhattan is quickly becoming a world capital for advertising, media, technology and information. We’re excited about our inspiring new space and everything this neighborhood has to offer.”
“Physical environments are so important to our performance and culture. It’s such a privilege to be able to design this environment from scratch, with energy, collaboration and client impact at its heart,” said Eric Salama, CEO of Kantar.
Comprising Essence, MediaCom, Mindshare, Wavemaker and Xaxis, GroupM is the one of the world’s leading media investment groups, responsible for more than $100 billion in annual investment on behalf of many of the world’s largest advertisers, according to RECMA. GroupM agencies offer marketers the best expertise about media partners and platforms worldwide in support of effective and efficient consumer engagement through media. GroupM signed as the first tenant in 3 World Trade Center, paving the way for its construction and the continued revitalization of Downtown New York. GroupM companies begin moving people to the new offices in July.
Indian travel sites saw more than 50% sales in the last week of May, during the summer season
Criteo, the leading commerce marketing technology company, reveals that Indian holidaymakers aren’t just dreaming of the perfect getaway during summer break – they’re booking them too. Criteo’s recent travel report provides an overview of travel bookings made between April & June for the year 2017 and draws comparison with April – May 2018.
The report revealed that Thailand is the most preferred international destination during the period of May & June for Indian holidaymakers, with 30% of bookings during the period, followed by United Arab Emirates, Singapore, Indonesia, Malaysia, United States, France, Sri Lanka, China and United Kingdom. For domestic travel, popular destinations includes Delhi, Jaipur, Mumbai, Hyderabad and Bangalore.
In 2017, as per the report, Indian travel sites saw more than 50% sales in the last week of May. The trend continued in 2018, which shows that holidaymakers are increasingly eager to commit to holidays later in the month of May in a bid to travel in summer season.
The report also highlights that during the entire summer season in 2017, most of the traffic on travel sites was recorded between last week of May and end of June. However the number of visitors declined towards the month of May 2018.
Siddharth Dabhade, General Manager, Criteo India said, “International destinations are becoming quite popular among the Indian holidaymakers. With the Indian travel landscape changing at an unprecedented rate, greater connectivity for both international & domestic travel, and increased willingness to spend, Indian consumers are going on vacations more frequently and spending more on travel as a reward for their families. We can expect more interesting trends in the coming time, which the marketers need to account for when reaching out to their customers.”
He further added, “Marketers today are facing the challenge of providing a consistent consumer experience across online and offline. Criteo is helping the travel industry to overcome these challenges. More and more marketers now understand and include personalized ad targeting on all devices in their marketing mix. This is another trend which will continue to evolve and help marketers create a sustainable competitive advantage beyond just pricing and packages.”
Netcore Solutions, India’s leading marketing technology company joins hands with CNBC-TV18, to introduce a unique knowledge-sharing event - ‘The Martech Marathon 12 x 25’ to be held on June 13 at St. Regis, in Mumbai.
The event introduces aunique format designed especially for the modern marketer and will witness 25 top Martech evangelists put forward their ideas and insights. The TEDx-style event, which will also be live-streamed for remote audiences, will address the questions & challenges of the ever-evolving Martechspace and will explore the new-age practices that click in this phygital world.
The celebrated line-up of speakers at the Martech Marathon 12x25 will include among others:
1. Shivakumar, Group Executive President, Aditya Birla Group
2. SiddharthBanerjee,EVP-Marketing, Vodafone India
3. Apurva Chamaaria, Chief Revenue Officer, RateGain
4. Mona Gandhi, Head of Strategic Alliances and Growth, Airbnb India
5. GunjanSoni, CMO of Myntra& Head of Jabong;
6. JaimitDoshi, Executive Vice-President, Kotak Securities;
7. Rubeena Singh, CEO, iProspect India
8. SameerPitalwalla, Co-Founder & CEO, Culture Machine
9. Sidharth Rao, CEO and Co-Founder, Webchutney
10. Pallavi Chopra, Haed of Marketinig, RedBus
11. SubratMohanty, Co-Founder & CEO, Hurix Digital
12. AmreshGodbole, Managing Director, Digitas India
13. Sridhar B, Chief Digital Marketing Officer, Diageo
14. PoojaJauhari, CEO, The Glitch
15. Srinivas Jain, Executive Director and Chief Marketing Officer, SBI Mutual Fund
16. Himani Agarwal, Director, Commerical Marketing, Microsoft
17. Lakshmi Narasimhan, Chief Growth Officer, Group M
Marketers can look forward to a string of power-packed sessions by these industry experts, as well as to networking with more than 300 fellow Martech enthusiasts. Explaining that Martech Marathon 12x25 is about bridging a huge knowledge gap for Indian marketers, Kalpit Jain, Group CEO of Netcore Solutions, says, “The end customers are embracing digital technologies in every walk of their lives, building expectations that are driving the digital disruption across all industry verticals. Every marketer is thus driven to understanding and adopting Martech, and the easiest way to do this is through best practices, which only these Martech evangelists can talk about.
Speaking about the announcement, Mr. Joy Chakraborthy,CEO Forbes India &President Revenue, Network 18 said, “With ‘The Martech Marathon 12 x 25’ we want to assist modern marketers with adopting new-age technology, allowing them to amplify brand reach and presence. Along with knowledge sharing, the platform also intends to serve as a hub for networking, and generation of breakthrough ideas and practices that largely aid the Martech universe.”
Entry to Martech Marathon 12x25, India’s most promising martech event is by invites only, and has limited seats which are fast filling up.
Bain & Company’s spring luxury update highlights four trends shaping the personal luxury goods market in 2018 and beyond
The luxury market is on a tear halfway through 2018. A positive trend across all regions is set to drive this market higher by 6-8 percent (at constant exchange rates) this year to reach €276-281 billion. “China” and “millennial state of mind” remain the buzzwords in an industry that could reach €390 billion globally in sales by 2025. These are the key findings from Bain & Company, the world’s leading advisor to the global luxury goods industry, in the “Bain & Company Luxury Study 2018 Spring Update” released today in collaboration with Fondazione Altagamma, the Italian luxury goods manufacturers’ industry foundation.
“2018 is off to a strong start,” said Claudia D’Arpizio, a Bain & Company partner and lead author of the study. “Currency fluctuations will have an impact, but we expect the healthy trend to continue across all regions and customer segments. Chinese consumers continue to stand out as a growth-driver for the industry, and are more fashion-savvy and digitally advanced than ever before, accelerating the shift of the industry to the millennial state of mind.”
Regional dynamics in the luxury market
In the Americas, the U.S. luxury market benefitted from a weaker dollar during the crucial holiday season. Tourists from Asia and Europe boosted key cities while local consumers were drawn to luxury again. Canada is growing while performance in Latin America is mixed. The region as a whole is expected to grow between 3 to 5 percent (at constant exchange rates) in 2018.
Europe was negatively impacted by a stronger euro, which had an impact on purchases by tourists. Some countries benefited from stronger consumption (Russia, France, Switzerland) while UK and Germany experienced a slowdown. Bain & Company forecasts growth of 2-4 percent (at constant exchange rates) for the region.
Mainland China is expected to account for the lion’s share of growth in 2018. We forecast this market to grow by 20-22 percent (at constant exchange rates). Brands are learning how to cater to local consumers, often young and heavily influenced by social media.
Purchases by tourists boosted spending in Japan, especially Tokyo and Osaka, though it was partially redirected towards experiences. Local influencers and social media are also key decision influences for younger local customers. Bain & Company forecasts growth of 6-8 percent (at constant exchange rates).
Across the rest of Asia, Hong Kong and Macau continue on their recovery trajectory. South Korea benefits from visitors from China, but political tensions in the region could have a crucial impact on 2018 growth trends. Bain & Company believes this region could grow by 9-11 percent (at constant exchange rates).
The rest of the world is expected to be flat or see only slight growth of 2 percent (at constant exchange rates). Dubai remains stable and supported by international tourists, while Australia is set to benefit from a larger store footprint.
Four Trends Shaping Personal Luxury Goods in 2018
Bain & Company’s research identifies four trends that will drive the luxury market in 2018 and beyond:
Chinese customers in first place: Chinese consumers will be a key nationality driving the growth of the luxury market. Buyers of luxury in China are young, increasingly fashion-savvy and well aware of the price-value equation.
Click, Click, Click: Online continues to gain ground as boundaries blur with traditional physical channels. Social media continues to influence purchases especially for younger consumers.
Casual and streetwear: Streetwear categories experienced standout growth in 2017, driven by casualization of workplace attire and younger buyers of luxury goods. This segment remains a key lever to attract new customers.
Consolidating new normal: Volume is driving market growth, not just price increases. Exchange rate fluctuations are redistributing spend among regions but not impacting global growth.
Growth expected to pick up and drive industry to new heights
Looking ahead to 2025, Bain & Company expects growth to pick up to 4-5 percent per year (at constant exchange rates) increasing the market size to €366-390 billion.
“Luxury brands should view themselves as the masters of their own destiny,” said Bain & Company partner and report co-author Federica Levato. “Customers are responding to targeted strategies, and top performing brands are already winning over the customers of tomorrow.”
Travelport, the leading travel commerce platform, today announced the signing of a new multi-year content agreement with Plus Ultra Líneas Aeréas S.A. (Plus Ultra), which includes use of the company’s leading merchandising tool, Travelport Rich Content and Branding.
Long-haul airline, Plus Ultra, offers regular flights from Madrid to Lima and Caracas. Under the new agreement, its full content and inventory will be made available to over 68,000 Travelport-connected agencies servicing hundreds of millions of consumers around the world.
With Plus Ultra joining over 260 global airlines using Travelport Rich Content and Branding, agencies and travel bookers will also be given a graphically rich experience when searching for and booking the airline’s branded fares, as well as greater access to its ancillary offers. Through delivering these benefits, Travelport’s merchandising tool will provide both sides with the potential to drive increased revenue.
As the first and only global distribution system operator to be certified by IATA as a “Level 3” Aggregator under its New Distribution Capability (NDC) initiative, Travelport will soon further support Plus Ultra by giving it the opportunity to create NDC connections and display NDC-based airline content on its platform.
Commenting on the agreement, Rosa Iglesias, Sales Manager at Plus Ultra said: “We are committed to providing our customers with an excellent service and are always looking for the best ways to exceed their needs and expectations. Our collaboration with Travelport provides us with a powerful advantage. Delivering strong visuals and detailed descriptions of our products and services to our travel agency partners – just like on our websites – will increase the visibility of our flight options and value to travelers.”
Fred Lindgren, Travelport’s Country Manager in Spain, added: “Plus Ultra’s participation in Travelport’s Rich Content and Branding is another significant endorsement from the Spanish airline industry for the value our technology leadership and merchandising capabilities provide. We are looking forward to helping Plus Ultra to meet its growth objectives, while continuing to accelerate Travelport’s position in the Spanish travel industry.”