Price Points by Omnia Retail

Here you can read more about Omnichannel Retail, Direct-to-Consumer Strategies and Retail Trends. Learn about the Implementation of Dynamic Pricing and Pricing Strategies.

Amazon moves to cut distributors to improve profits

In a bid to increase annual profits, Amazon is actively severing its relationships with third-party sellers. From 15 January 2024, as an email from Amazon to third-party sellers suggests, the e-commerce authoritarian...

In a bid to increase annual profits, Amazon is actively severing its relationships with third-party sellers. From 15 January 2024, as an email from Amazon to third-party sellers suggests, the e-commerce authoritarian will be pursuing partnerships with brands directly, squeezing brand owners out of their relationship with distributors if they want to remain on the online marketplace. Source: Consulterce - LinkedIn Amazon has experienced a downturn in sales and ad revenue from merchants in 2022, compared to the pandemic years of 2020 and 2021. “Amazon is trying to increase profit margins in its retail division at all costs right now,” says Martin Heubal, a strategy consultant who used to work for the tech giant and who helps Amazon vendors achieve growth on the platform. Bloomberg News reports that the platform’s advertising sales growth was shaky all throughout 2022, which affected its profit margins. In addition, Amazon’s sales growth was at its slowest over this period, resulting in new strategies to increase profits. Other game plans to boost profits include the recent layoffs of 18,000 employees, which is the largest in the company’s history. In addition, it was announced in early January that three warehouses in the UK would be closed down as a part of their downsizing procedures. What’s the impact on brands and distributors? Amazon suggests this new procurement strategy is to cut out the middleman and lower costs for consumers, however, this strategy suggests a broadening of the monopoly they have within online retail to force brands to choose between growth and profit with the marketplace or moving with their distributor who is being cut out. In the US, 40% of all online shopping is done on Amazon, which means 40 cents of every dollar a consumer spends is shopped on Amazon. Many brands may find that because of this grasp on consumer spending power, they may have to choose to do business directly with them, leaving their partnerships with distributors null and void. To add salt to an open wound, their business models and distribution strategies will be turned on their heads, while third-party sellers struggle to stay buoyant. In the same email, Amazon said distributors can still sell these products directly to customers on Marketplace, however, this will require price changes that will affect both the distributor and the consumer. Typically, distributors sell in bulk at a lower price, which benefits all parties. By having to move from B2B to D2C, a distributor will have to factor in new costs and strategies. As 15 January 2024 approaches, brands have tough decisions to make As we know, 1P (first-party) brands lose many commercial freedoms when selling on the marketplace such as price setting. As we have seen in the past, once Amazon gains market share within a vertical and control of the client, they can dictate a price. So, is this a good move, long-term, for consumers and brands? Alternatively, if brands have other D2C channels, are they enough to maintain the same profit margins? Omnia’s Founder and CEO, Sander Roose, shared that the larger problem is this decision by Amazon will create many complexities for brands. “All of a sudden, brands will have new things to learn and new decisions to make. For example, how will the working relationship play out with Amazon after years of having longstanding relationships with their distributors? Should they sell 1P or 3P? How, and to what extent, should they use Amazon ads to fuel sales? What will the process be when Amazon starts making changes or demands about prices or inventory? This, I believe, is the main setback for those brands.”

As we head into 2023, Omnia reflects on a successful year behind us

Like any good sports team, Omnia takes a look at its wins and losses that shaped the year. With the acquisition of Patagona in 2021, this year would be the first full year as a combined company, bringing challenges and...

Like any good sports team, Omnia takes a look at its wins and losses that shaped the year. With the acquisition of Patagona in 2021, this year would be the first full year as a combined company, bringing challenges and triumphs. As the team enjoys the festive season and cooler weather, Omnia takes a look at some of the milestones and goals achieved that made 2022 a successful year. In addition, we’ll be sharing some of our best performing thought leadership articles that helped solidify our name as leaders in pricing and retail knowledge in Europe. Team and customer events furthered our vision to be market leaders in pricing solutions In March, the team met in Darmstadt to reveal the new logo to the entire company. The new logo, which is a combination of the previous Omnia Retail and Patagona logos, represents the symbolic union of the two teams after Omnia acquired the company in 2021. Thereafter, everyone enjoyed a team bonding exercise at Climbing Forest Darmstadt. Customer events were of utmost importance in 2022 to deepen our relationship with our current customers; to answer any questions they may have, and to establish new business contacts. This year’s e-commerce events included sharing our new logo and stand design with the public and getting to know some new international fairs too. In June, Omnia Retail was in London for Shoptalk Europe, followed by Webwinkel Vakdagen in Utrecht at the end of the month, as well as K5 Future Conference in Berlin. In September, there was DMEXCO, which is a digital marketing expo and conference in Cologne, followed by the huge Hardware Fair in Cologne, where we have been partof the tailored e-commerce expo for two days. The event highlight of the year for Omnia was when we hosted our very own event, Price Points Live, which saw the best minds in pricing, consumer psychology, e-commerce, inflation, and sustainability in e-commerce come together to share their knowledge for our customers. Taking place in Amsterdam in October, it was a chance to provide our customers with detailed and quality knowledge to improve their businesses and teams. It was also the first time that the Amsterdam and Darmstadt customers were interacting and mingling together under the Omnia name. In addition, the event put us in the category of thought leaders who drive success with data, support and insights for our customers. Review the full video of the event here. The team welcomed new faces from six new countries in 2022 One of our core values is “free to be you and me”, which promotes diversity, inclusion, understanding and acceptance of all people, with no judgment based on gender, race, nationality or any other factor, which is why having team members from various backgrounds has always been important. By the end of 2022, Omnia totalled employees from 26 countries around the world, up from 20 in 2021. Females in line management positions also increased, growing to 27% in 2022 from 9% in the previous year. In addition, women in leadership positions increased to 33%, up from 17%. Customer feedback showed a positive experience Omnia received 10 new reviews on G2, one of the world’s most well-known aggregators for software services, with an average score 8.3 out of 10. Reviewing Omnia’s best articles for 2022 Our content team spent many hours and minutes researching trends and topics that would be helpful to our customers, as well as other entrepreneurs, retail leaders and those keen on expanding their knowledge in pricing. Here are our top 10 articles for 2022: The Strategies Behind Amazon’s Success Price: The Most Important P in the Marketing Mix Understanding and Using Market Penetration Strategies How Odd Even Pricing Helps You Utilize The Power of Psychology What is Bundle Pricing? For the Bicycle Industry, 2022 Creates a Continued Supply Chain Crisis How Pricing Influences the Consumer Decision Making Process Adjusting your Pricing Strategy to the Product Life Cycle Stage How Does Amazon’s Search Algorithm Work? What is MAP Pricing?

How inflation is affecting production and overconsumption

With falling profits, rising inflation and bloated overhead costs, the world of retail and eCommerce is experiencing one of its biggest challenges since the 2008 global recession. Wall Street reported that of the 79...

With falling profits, rising inflation and bloated overhead costs, the world of retail and eCommerce is experiencing one of its biggest challenges since the 2008 global recession. Wall Street reported that of the 79 large retailers that shared their financials during the period of 1 April - 23 May, 59% of them reported a decrease in consensus revenue for 2022 and 71% estimated a decrease in earnings for 2023. During the same period, the S&P Retail Composite Index fell 24.1%. Either directly or indirectly, inflation affects everyone and everything that involves monetary exchanges, but two of the most impacted arenas are production and consumption. How are retailers feeling the pinch? Are consumers taking on the costs of retail corporations’ slacking profits? How does inflation affect consumer behaviour? And, amongst the fog, is there an opportunity for retail to shine through these difficult times? We’re answering these questions as we look at the impact of inflation on production and overconsumption. The domino effect of increasing inflation The Belgian food retail company Colruyt Group, reported in September that their profits for the most recent financial year have experienced a significant decline due to rising inflation. However, in a move unique to most food retailers, the group’s CEO Jef Colruyt has promised that the decrease in profits as a result of high inflation will not be a burden passed onto consumers and that they will continue with their low-price strategy into the new financial year. To offset the financial cost, the group is considering selling a part of its wind energy company Parkwind. Other food retailers are experiencing empty shelves as relationships with manufacturers and farmers have soured due to tense conversations over energy, employee and transport costs. For Colruyt alone, these rising costs could amount to approximately €200 million. Luckily for loyal Colruyt buyers, their relationships with manufacturers and farmers remain steady, and food shortages are not expected to be an issue. On the apparel side of retail, Nike is expanding its relationship with online marketplaces like Zalando, however, not without a cost. Although sales rose by 4% in the last quarter, the increase in manufacturing costs caused a 20% drop in earnings per share. In addition, gross margins fell to 44.3% due to higher transport costs including freight and logistics. However, the new relationship with Zalando is expected to be a successful one for both brand and retailer, as more Europeans will be able to access premium Nike products through Zalando if they are a Nike club member. Returns is already a €111 billion issue for e-commerce players - and that’s just over the festive season. Couple that with 2022’s inflation shock-to-the-system, it is no wonder brands and retailers are reaching for ways to curb overhead costs. In an eyebrow-raising moment for most consumers, global clothing brands Zara and Boohoo have begun charging for returns for their online shopping customers due to rising delivery costs. Zara is charging €1.95 per return, or, a return is free if they drop it off at a branch. It is also a tactic to increase footfall and to lure in impulse shopping. However, the commute to a Zara branch still requires time and money from the consumer and may be considered an inconvenience for shoppers who choose online shopping for the reason of convenience. From production to consumption, how are retailers and brands reacting? A 2022 report by Unicef concluded that if every person in the world consumed resources at the rate of people in the EU and the OECD (which includes the US, the UK, parts of South America, Australia, Turkey and many European countries), we would need 3.3 Earths to sustain the level of consumption. An even worse statistic showed that if everyone consumed the way people in Luxembourg, Canada and the US did, we would need 5 Earths. In the long run, operating a sustainable company - and a sustainable world - with eco-friendly supply chains, manufacturing and delivery processes will be the most effective solution to overconsumption. It is a mammoth task that requires a years-long commitment, but companies like Apple, Google, Patagonia, Beyond Meat, Who Gives A Crap and more have made major moves to be more sustainable, to promote lower consumption, and to reuse. After piloting a secondhand items program, luxury fashion brand Balenciaga is planning to implement it full time after it showed much support from Balenciaga customers wanting to sell their secondhand purchases as well as potential shoppers keen to have a piece of the brand at a more affordable price. The brand, owned by Kering, says the move is part of their goal to become “a fully sustainable company” with a focus on consuming less, recycling and reusing. Balenciaga has selected Reflaunt, an online service that sells second hand luxury items to “embrace circularity” as their chosen resale platform. In August, Michael Kors also launched its resale side of the business, saying the goal is to extend the life of MK products and to reduce waste. The very existence of any luxury brand goes against the ideals of minimalism and anti-materialism. In fact, a luxury brand generally embodies the opposite: Flashiness, opulence, excess. It will be interesting to see how well these resale strategies work in terms of interest, sales and impact on overconsumption. On the consumer end, can inflation cause a decrease in overconsumption? French economist Jean-Pierre Malrieu says that “in these times of overconsumption, inflation is a gift from heaven” and adds that high inflation tends to “restore balance” when it comes to materialism and over spending. Sharing in this trend are many US consumers who, as reported by the New York Times, are changing their consumption habits. Some families have stopped using a house cleaning service and have opted to clean their homes themselves. Others have stopped taking their pets to professional groomers. Holidays include camping at local spots instead of cross country trips. Audible and Kindle subscriptions are being cancelled and replaced by books, walking and board games. Others have grown a vegetable garden and have learnt to make treat meals like pizza so that they don’t have to spend money on takeout. Some are updating old clothes instead of throwing them out and replacing them. How can retailers offset the impact of inflation without layoffs or passing the cost down to the consumer? Focusing on affordability. In retail, there are always ways to cut costs. Looking for suppliers that are less expensive or materials that are cheaper is a good starting point. Introduce exciting incentives. It’s been proven that team morale and productivity can be ignited when incentives are introduced. Whether it is bonuses, extra paid leave, or half days on Fridays, employees react well to incentives, with organisations using incentive programs achieving 27% higher profits and 50% higher customer loyalty levels. Implementing robotics and AI technology into supply chains. A study by Berkshire Grey found that processing time could decrease by 25% and processing costs by 35% if automation and robots are used in manufacturing and distribution. Take a granulated approach to price increases. Instead of applying widespread, top-to-bottom price increases to every product to offset inflation that will likely infuriate customers and erode loyalty, segment the products into categories that can withstand a price increase based on a customer’s eagerness to pay. Only the robust survive We have seen, with concrete data, how retailers who have a quick and confident response to high inflation not only survive but thrive in the years to follow, in comparison to those who stumble around wondering what to do. “The most resilient retailers were able to drive 11% annual growth in total return to shareholders”, McKinsey reports, between the years of the Great Recession of 2007 - 2009. This number was five times higher than their peers through to 2018. It’s numbers like these that prove how much power a brand, retailer or marketplace may have in times when they think they are powerless. The current inflationary period is not expected to disappear any time soon, and it certainly won’t be the last time retail experiences increasing freight and logistics costs, high demand and fractured supply chains. As stressful and as slow-moving as it is to trudge through the mud of inflation, one could almost develop a copy-and-paste strategy to sail through these seas each time they come round again. It’s all about making bold, forward-thinking decisions to turn challenges into opportunities. FAQs: Which countries have the highest overconsumption levels? UNICEF concluded in a 2022 report that if every person in the world consumed resources at the rate of people in the EU and the OECD (which includes the US, the UK, parts of South America, Australia, Turkey and many European countries), we would need 3.3 Earths to sustain the level of consumption. An even worse statistic showed that if everyone consumed the way people in Luxembourg, Canada and the US did, we would need 5 Earths. Tips to save money at home Choose to clean your own home instead of a house cleaning service Skip taking their pets to professional groomers and bathe them at home. Vacation locally instead of cross country trips. Cancel streaming subscriptions or podcasts that aren’t being used. Grow a vegetable garden or learn to make your favourite meals so that you don't have to spend money on takeout. Tailor old clothes instead of replacing them.

Complete Guide to Selling on Amazon in 2022

With a massive reach (to the tune of 47% market share in the US and UK and 31% market share in Germany), it’s an incredible outlet to showcase products, earn more sales, and build brand awareness. But Amazon is also an...

With a massive reach (to the tune of 47% market share in the US and UK and 31% market share in Germany), it’s an incredible outlet to showcase products, earn more sales, and build brand awareness. But Amazon is also an overwhelming online platform for Sellers and consumers alike. With so many options for how to shop, sell, advertise, and win on Amazon, it’s no wonder there are lots of questions. In this guide we’ll answer some of the top questions we hear about Amazon and give helpful hints on how to succeed on the platform.

How robotics and AI are improving supply chains

If only Henry Ford, the founder of Ford Motors who invented the assembly line that revolutionised how cars are made, could see how corporations have advanced the logistics of supply chains in 2022. Approximately 109...

If only Henry Ford, the founder of Ford Motors who invented the assembly line that revolutionised how cars are made, could see how corporations have advanced the logistics of supply chains in 2022. Approximately 109 years later, modern supply chains are including engineering and scientific developments like never before, seeing robotics and artificial intelligence (AI) brought to the forefront to increase productivity, decrease overheads, and improve the customer’s experience. With the rapid development of e-commerce and the changing landscape of consumer spending habits, it has become vital for retailers and brands in many industries to rethink and modernise how they bring a product through the process of production, manufacturing, shipment and delivery to the consumer. We have taken a look at how robotics and AI are affecting and improving global supply chains, the companies that run them and their employees. Robotics in retail and e-commerce One of the biggest issues within retail and e-commerce is delivery - and fast delivery at that. Using robotics, AI and automation (RAIA) has shown to significantly improve delivery schedules and times. According to a 2021 McKinsey & Company survey, 75% of retail supply chain leaders have made 2-day delivery a priority and 42% are aiming for same-day delivery in 2022. Alongside these consumer demands, 64% of retailers cited digitalisation and automation investments as being critical. A key area in speeding up deliveries and creating seamless supply chains is warehouse automation, and one such retailer that’s taken on the challenge is Ochama in the Netherlands. The Chinese e-commerce giant launched robotic grocery stores in four Dutch cities, namely Leiden, Amsterdam, Utrecht and Rotterdam. Groceries and non-food items are collected throughout the store by mobile robots, packaged and presented to shoppers. Customers can order their parcels via the Ochama app and then collect it at the store by scanning a barcode that specifies your order, after which a conveyor belt and robotic arms hand-deliver the order. This is only one part of the machine that has utilised robotics: A warehouse of 20,000-square metres is equipped with automated systems that can process up to 15,000 parcels a day. Because of the technological advancements used in the supply chain, Ochama has brought down the overall costs of food and non-food items by 10%, making the omni-channel retailer one of the first to be able to reduce some of the consumer living costs using robotics and AI. From groceries to clothing, AI is showing its exponential value. Finesse, a US clothing company, is using AI to determine future fashion trends for potential markets and moving away from fast fashion. When you visit their website, the clothing doesn’t actually exist yet. What you see is 3D-rendered items of clothing where shoppers can vote for an item they’d like to buy. The items with the most votes get made, resulting in reduced overstocking and lower production costs. In this case, we see AI being used as an integral part of the business model instead of being a background assistant to supply chain problems. AI has shown to be helpful with returns This particular business model, where votes determine production, doesn’t mean returns and refunds aren’t still an option - or a problem, depending which side of the e-commerce street you’re sitting on. Nonetheless, AI has also shown to be helpful with e-commerce’s biggest headache: Returns. Global e-commerce’s returns problem is estimated to cost €111 billion just over the festive season after December. Approximately 30% of all online orders are returned by customers, making it a very large and expensive problem. In fact, although a customer may experience the ease of “free and easy returns”, a typical return actually costs a retailer between €19 - €41 each time when they factor in transport, processing (receiving, inspecting, then sorting), and reselling efforts. Berkshire Grey found that processing time could be reduced by 25% and processing costs by 35% if employees could make use of automation and robots. How may employees view the incorporation of robotics and AI? A 2021 study published in the Journal of Technology in Behavioural Science conducted multiple interviews with employees of different seniority levels across multiple industries to quantify their understanding and perception of RAIA in the workplace. Firstly, the study found that employees feel that “human touch” and “soft skills” could never be replaced or replicated; secondly, it found that employees should view RAIA as an opportunity and not a threat; thirdly, employees may experience a job satisfaction dilemma; and lastly, employees feel that companies should be extremely prepared before and after RAIA is implemented for whatever the impact may be. There is no doubt that jobs, workplaces, employee-to-customer or employee-to-employee relationships will change, but it is important for companies and team members alike to start viewing RAIA as a way to upskill, revolutionise and grow. There seems to be a common misunderstanding that by including robotics and AI into the workplace it will automatically result in retrenchments, firings and an exodus of employees. Although we can’t speak for the intentions of all companies, robotics has shown in many cases to improve the work environment for employees. If employees have been spending valuable time on mundane or time-consuming tasks that are part of their job, they can now spend that time on strategy; the very thing that results in better productivity and more profit. With our fully or partially automated dynamic pricing software solutions, Omnia takes a similar stance. Users require less time on repetitive, high-volume tasks and have more time planning and managing the strategic direction of prices. Looking toward the future Warehousing, final assembly and production are three main areas where autonomous robots will be the most beneficial. Deloitte predicts that including robotics in these areas can increase productivity; improve the collection of data; and decrease the risk of hazardous tasks while working alongside humans for improved efficiency and safer work environments. McKinsey & Company conducted a study that surmised that 20-30% of the time can be freed up for other important tasks if repetitive tasks are automated or robotised. Deloitte suggests that using autonomous robots within the supply chain will dramatically increase over the next five years and the more companies start to incorporate robotics into their processes, the more fluid and seamless supply chains will become.

Omnia appoints a new CFO, supporting its vision and leadership

As Omnia Retail moves into the next phase of growth, a new member of its leadership team is set to assist in driving forward the company’s multinational strategy: Hande Erdogan, Omnia Retail’s new Chief Financial...

As Omnia Retail moves into the next phase of growth, a new member of its leadership team is set to assist in driving forward the company’s multinational strategy: Hande Erdogan, Omnia Retail’s new Chief Financial Officer, who joined the team in April at the company’s Amsterdam offices. Hande brings a world full of knowledge and experience to the table, honing in on her skills within the financial services industry. Hailing from Turkey originally, Hande attended Boğaziçi University in Istanbul, achieving a degree in international trade and then completing her Masters in finance and economics at the London School of Economics and Political Science. Hande has a strong foundation in investment banking, having worked at Citi for 14 years and then made the transition in a CFO role for a tech scale-up. “For the last 5 years I was the CFO of a start-up which grew to become a scale-up, with offices in Istanbul, Berlin and London, so I have both worked with big, international corporates as well as start-ups across their growth journey,” says Hande. Hande’s goals for Omnia align with our plan to become an undeniable global force in pricing software as the only solution to retailers and brands. She will be focused on ensuring financially healthy organic growth, coupled with inorganic growth via value-creating acquisitions. “My primary target is to channel all my knowledge and experience to support Omnia’s goal to expand its coverage and strengthen its leadership position. I will mostly focus on adapting the finance function to support a scalable organization and arrange necessary internal and external funding to fuel its growth,” says Hande. Although Hande has worked in the financial sector for most of her career, it is Omnia’s dynamic pricing software and customer success division that drew her to the role, setting Omnia apart from other SaaS companies. Hande explains it is the “how” that elevates Omnia above the fray: “Omnia’s level of sophistication both at product and team level is quite unparalleled.” It is no coincidence then that one of Hande’s business philosophies aligns so well with one of Omnia’s core values of striving for perfection. Hande believes in working with dedication and a passion for excellence. CEO Sander Roose couldn’t agree more that Hande is the right person for the job. “Hande is precisely the right CFO for this next phase of the business and a great addition to the leadership team, we are proud to have Hande onboard.”

The new era of the retail consumer

Not even the Wall Street crash of 2008 saw the retail world having to relearn the wants and needs of the modern consumer as much as the last two years of the coronavirus pandemic. As 2022 enters its second quarter,...

Not even the Wall Street crash of 2008 saw the retail world having to relearn the wants and needs of the modern consumer as much as the last two years of the coronavirus pandemic. As 2022 enters its second quarter, lockdowns have largely been lifted and the closest thing to normal life is resuming. However, one thing that won’t be returning to “normal” are the hows, whys and whats of purchasing decisions. Consumers are forever changed, and that means retailers and brands are going to need to learn quickly or sink fast. How have consumers changed and where are they spending their money and their time? Are pre-pandemic buying methods and spending habits going to make a return? How can retailers and brands retain customer loyalty? We have highlighted some key trends to shed light on the answers to these questions. Reflective or intuitive: How consumers make decisions If retailers and brands are going to survive and keep up with the post-pandemic consumer, one of the things they may have to do is understand how people make choices. In a nutshell, the psychology of decision-making is split between two systems or types: Type 1 is intuitive and Type 2 is reflective thinking. Brands often rely on a person’s intuitive thinking because it hinges on a shopper’s loyalty to them and higher purchase intent, especially when there are promotional deals on offer. For example, if a person has been buying the same baby diapers from the same brand for years, it is cognitively based on a sense of loyalty to the brand. However, the last two years have forced us to change our daily behaviours and this has affected how we see and reflect upon income, job security and our overall outlook on life. For the foreseeable future, reflective thinking (type 2) is something that brands should spend more time understanding and paying attention to. Reflective thinking is based on a feeling of “rightness”, according to Kantar, a data science company. That initial feeling of rightness, however, can be affected by a person’s situational, cognitive or motivational factors. In other words, the subconscious voice inside your head that says, “This is the brand of running shoe like and I’m choosing to buy it” can be affected by the aforementioned factors. Reflective thinkers (vs. intuitive) are more likely to let these external factors affect their decision and decrease their purchase intent, which is a theory supported by an academic paper by Joyce van Uden who attended Tilburg University in the Netherlands. In today’s world, those external factors may include the health and financial upsets of the last two years. In 2019, before a whisper of Covid-19 was even mentioned, nobody could’ve predicted that the brands and retailers they’d been shopping from would be affected by second-guessing on such a mammoth scale. Now, years later, situational, cognitive or motivational influences are certainly at play when consumers shop. Key trends and changes among consumers Online grocers have seen continued growth During global lockdowns in 2020 and 2021 that saw consumers having to stay at home, it was obvious that an increase in online shopping for groceries would naturally occur. However, this trend has continued post-pandemic. Globally, from 2020 to 2022, shoppers who bought groceries online increased by 19%. The main reason for this used to be safety related to Covid-19. Now, it’s for convenience. However, online grocers should not sit back and relax, assuming to pour all their resources and time into e-commerce. Grocers need to present a strong omnichannel retail experience for the consumer who wants options (and that’s pretty much all of them). Although shopping for meat and fresh produce is still largely done in-store, consumers like the service of home delivery or click-and-collect. It adds a level of comfort and accessibility to a service. A new trend called “top up shops”, in which a consumer will purchase staples like bread and milk online in addition to weekly or monthly in-store shops, shows just how common it has become for consumers to shop online and offline for food even within just a few days of one another. Created by JD Worldwide, a new food grocer in the Netherlands by the name of Ochama has blended omnichannel shopping, logistics technologies and robotics to offer shoppers cheaper groceries without cutting on efficiency and quality. Ochama is able to offer food and non-food items that are 10% cheaper while utilising robotics technology to gather parcels for customers who’ve ordered online or on the Ochama app. Customers can choose to pick up their parcel at the store or wait for home delivery the following day. Moreover, Ochama is only available to consumers who become members, instilling a sense of immediate exclusivity and brand loyalty. From e-commerce to m-commerce A boom in e-commerce during 2020 and 2021 was inevitable, however, what’s been interesting to note is how even within e-commerce’s growth, sub-trends are emerging. The mobile shopping experience for consumers has become easier, faster, more professional and more intuitive to the shopper’s needs. By the end of 2021, 54% of global e-commerce sales were from mobile, totaling €3.1 trillion, showing that the majority of e-commerce sales came from apps on a phone or tablet. In addition, this number was up by 22% from 2020, showing that more and more consumers are trusting and enjoying the mobile shopping experience. Globally, e-commerce app installs increased by 10% from 2020 to 2021, however some areas beat out this world average such as EMEA (Europe, the Middle East and Africa) at 15%. Less thinking and more doing in personal innovation Through an extensive survey done by market researchers at GWI, it has found that “seismic changes in the collective mindset” of consumers is taking place. From job resignations to how people have changed their spending habits, a common theme has emerged: Caution, delaying and overthinking are more and more being thrown to the wind. From the second financial quarter of 2020 (roughly April) to the second quarter of 2021, GWI notes that US consumers showed a “diminished need to be careful and responsible, especially with finances''. Upon looking at the research more in-depth, consumers also said that “treating oneself and indulging” became one of their top three priorities in the last year. This type of response was especially high in France and Italy, signalling a shift in Europe regarding consumer behaviour. In terms of pricing strategies, this could present an opportunity for direct-to-consumer (D2C) businesses to make their prices more competitive or marketers to be more suggestive in their communication. Brand loyalty has taken a knock Attracting and retaining brand loyalty is anything but easy and on the flip side for consumers, finding a brand you trust and consider the go-to for a particular product is just as difficult. Going forward, the traditional ways retailers and brands attract and retain customer loyalty have been turned on their head. McKinsey & Company reports that in the US, 75% of consumers tried new shopping behaviours and brands, pointing to convenience, availability and value-for-money as their reasons. Of the aforementioned 75%, 80% tried a new digital shopping method and 25% tried a private label or store brand, which are generally known to be less expensive. Retailers and brands should not discount on finding and keeping a customer’s loyalty, as a study by Bain & Company found that a 5% increase in customer retention can increase profitability by 75%. If a brand or retailer is noticing a shift in purchasing patterns such as consumers choosing other brands for specific products, this may prompt them to want to relook at their pricing or promotional strategies to regain the attention and loyalty of customers whose eyes are starting to wander. McKinsey also suggests that retailers should focus on “strong availability” and to also “convey value” to retain customers. The homebody economy is set to continue growing Because consumers were forced to stay home under strict lockdown laws, finding ways to entertain oneself became imperative. As a result, sales in the home entertainment, gaming, home fitness and electronics sectors sky-rocketed. Looking at Google search volumes in the first and third weeks of March 2020 when global lockdowns first began, “home fitness” as a topic went from level 22 - which is below average popularity for a search term - to level 100, which is the highest level of popularity for a term. What’s interesting to note is that, even after lockdowns have been lifted, consumers are choosing to spend more time at home and are cooking more at home rather than eating out. McKinsey asked consumers the following question: “Over the next two weeks, how much time do you expect to spend on activities compared to how much you normally spend?” The answers most selected were cooking, home improvement and exercise. Of these, cooking was said to increase by 39%; home improvement by 31% and exercise by 27%. While the home economy continues growing, e-commerce retailers could - or should - capitalise on how the consumer is choosing to spend their time. If a retailer that sells fitness equipment is smart, they will take this data and promote their home fitness equipment and apparel over items one may use in the gym or in the outdoors. Retailers selling items for construction should promote and prioritise DIY products. Retailers selling homeware should prioritise home cooking, kitchen equipment for families or singletons, and even recipe books for home use. Which segments of society are actually adopting these habits and trends? Not every change in consumer behaviour applies like a one-size-fits-all blanket. Depending on the socio-economic status of a consumer, reactions to spending in the post-pandemic world are different. According to the same aforementioned McKinsey study, the group most likely to adopt the majority of these behavioural changes are those who have had their finances and health affected by the pandemic in some way. And, most opposingly, the group that is considered the most affluent and secure is also likely to adopt the majority of these behaviours. This group is made up of 60% men who make more than $100,000 per year and have greater job security. The group that is least likely to adopt any of these behaviours at all is retirees above the age of 65. When it comes to strategy, does social media have the same impact it used to on consumers? A more blatant question is, “After the world has gone through an unprecedented health scare that’s torn through economies, homes, and entire families, is the vapid and materialistic nature of social media as effective as a strategy to lure in customers?” Yes and no. Before the coronavirus pandemic began, a large effect on the spending habits of the 16 - 64 year age group was influencer marketing on social media. In 2019 - and the five years before it - social media feeds were dominated by perfectly curated faces, bodies, and wardrobes as D2C brands and retailers used the power of influence to sway spending habits and profit their way. Today, seeing manicured lives that seem to be out of touch with reality has become less and less appealing. The loss of life, business foreclosures, global recessions and civil conflict on such a grand scale have left consumers looking for genuineness, choosing brands who want to connect in an authentic way. According to a GWI Zeitgeist survey of over 9,200 social media users aged 16 - 64, the thing they want the most from brands is authenticity: While the kind of content consumers want to see on Instagram and other social media platforms may be changing, these platforms have also been advancing their shopping features. Instagram, Facebook, TikTok, SnapChat and Twitter have developed content-driven strategies to get consumers to make direct purchases. As of January 2022, 44% of Instagram users worldwide shop weekly on the platform and 1 in 2 people use Instagram to discover new brands. In 2016, Instagram released product tags but their place in the Instagram shopping machine was only fully realised in 2021 which started allowing people to shop products from a web store and learn information about it without ever leaving the app. This firmly places Instagram in the centre of the m-commerce hurricane. From swimwear to electronics to jewellery, what originally was a photo sharing app has become a global m-commerce giant. TikTok uses short videos created by users to begin the path to purchase which, as described by TikTok itself, isn’t a linear start-to-end process: It’s an infinite loop. “Today’s consumers enter, exit, and re-enter at different stages of the purchase journey based on their needs and wants.” This “infinite loop” seems to be working - TikTok users are 1.5x more likely than other platform users to immediately purchase something they’ve discovered on the app. Looking to 2023 and beyond What’s that saying about change being the only constant? If you had to ask a person what spending or shopping habits they’re going to take on in one year from now, or even two or three, they will likely say they’ll be doing the same thing that they’re doing now. However, studies show that consumers - and people in general - are not aware of how much they change over time. In other words, we can’t forecast our own behaviour, according to a study conducted at the University of Sheffield in the UK. However, if retailers and brands are smart, they will do the work to satisfy these five factors that consumers need fulfilled when deciding to adopt a new behaviour (such as choosing to shop on a store’s new mobile app vs in-store): Cost-effectiveness, time-saving, convenience, enjoyment, personal reward. Shopping online and on e-commerce apps should be incentivised more A report created by Bond, a firm that studies customer loyalty, trends and behaviours found that 79% of customers stick with a brand if they offer loyalty programs. Loyalty programs are just one example of the many types of incentives retailers can use to attract new or retain existing customers. A key takeaway is that incentives should be personalised to the shopper to truly succeed. Adidas’ Creators Club is a successful example showing how to target new or existing customers. Through an individualised profile that one logs into, you can receive exclusive information on new products, club-only offers, invitations to events, and early access for purchasing new items. Disney partnered up with Visa to offer fans a credit card that allows them to save up for their dream Disney holiday. The card gives them discounts, accelerated earnings, and credit for flights. Card holders can also choose a card that has their favourite Disney character on it. It requires little effort, then, to see the value in incentivising consumers to shop on mobile and e-commerce platforms. The very reason incentives like commission, promotions and other job perks work so well for employees in competitive fields is the same reason consumers choose one brand who has incentivised them over the other who hasn’t: Human beings want more for what they’re willing to give (whether that’s hard work or money). An evolving lesson An academic paper written by Prof. John Hauser (MIT), Prof. Min Ding (PSU) and Dr Songting Dong (UNSW) provides evidence that “the accurate measurement of consumer preferences reduces development costs and leads to successful products” for retailers and brands, showing just how imperative it is to understand intuitive and reflective thinking in the context of a post-pandemic world. This ultimately provides retailers with an opportunity to reinvent themselves within their current market and position themselves to attract new consumers from competitors who fail to see the emerging trends within the market.

Omnia Retail celebrates 10 years as Europe’s leader in pricing software

Celebrating an important milestone for a company that largely founded and revolutionised pricing software solutions across Europe a decade ago, Omnia Retail celebrated its 10th birthday last week with a team event at...

Celebrating an important milestone for a company that largely founded and revolutionised pricing software solutions across Europe a decade ago, Omnia Retail celebrated its 10th birthday last week with a team event at their Darmstadt office in Germany. "What a ride"!" Sander Roose, the company’s founder and CEO, shared at the event that, “It’s amazing to see how much Omnia has grown and gone through completely different phases and developed her own personality.” Omnia’s CCO Maximilian Bank, who founded Patagona, a pricing software company that was acquired by Omnia in 2021, reflected on the journey as well: “From the humble beginnings, to the ever-changing challenges, to today's position as the European market leader for retail pricing software: What a ride!” Head of Product Berend van Niekerk shares Max's thoughts. “We are still just at the beginning of something way bigger and better and the best is still to come.” Alongside the Head of Marketing, Leon Curling-Hope noted that “We’re not slowing down, as there is a lot of untapped opportunity within the market with exciting things to come.” Pioneering an industry before its time Because pricing software was a fairly new product when Omnia started, Sander explains that the early days were not easy. Dynamic pricing was a subject and concept very few knew much about, leaving Sander and the team having to explain what it is to clients. “Nowadays, that has completely changed and every retailer and brand needs to have pricing software in order to compete in the market and they are fully aware of that.” “However, I do believe that those years helped us to get a head-start on international competition in building our product and sharpening our thinking about the topic,” says Sander. In servicing clients, Max and Sander believe it is not just about offering the best pricing software solutions, but aiding in building customer pricing expertise. Omnia invests heavily in customer success teams, and provides retail and pricing insights to its clients and via industry commentary on the Price Points blog. For Max, one of the best things Omnia provides its clients other than its products is customer closeness. “We are not an anonymous software provider - you can talk to us. We learn from our customers every day, and they, in return, benefit from our pricing and e-commerce know-how.” Creating core values: What makes Omnia different? When asked about Omnia’s three core values, Sander says they were developed out ofhis single most important lesson as an entrepreneur: Developing company culture. Company culture is made of the values and personalities of a company’s founders and early team members, says Sander. Omnia’s three core values are: Never stop learning; obsession with excellence; free to be you and me. “They’re at the core of everything we do. From evaluating job candidates to providing feedback and making decisions on promotions and career planning,” explains Sander. Chief Operations Officer Vanessa Verlaan, the steward behind Omnia’s company culture, echos Sander’s standpoint. “You need to prioritise company culture throughout your entire organisation and live up to it everyday.” Looking forward to the next decade Sander and Max have big goals for the next decade. By 2032, Omnia plans to not only be Europe’s leader in pricing software solutions but the global leader. “The way things are going at the moment, I have no doubt that we will achieve this goal,” says Max. “However, one of our top priorities will always be to make sure that we stay close to our customers: That's what made us what we are today. We should always remember that!”

Is this the end for e-commerce merchants as brands take the lead?

“Are retailers and brands like Decathlon, Nike and others changing the current narrative to better suit the needs of customers and their profit margins, blurring the lines between brand and retailer?” As we enter the...

“Are retailers and brands like Decathlon, Nike and others changing the current narrative to better suit the needs of customers and their profit margins, blurring the lines between brand and retailer?” As we enter the third year of the pandemic, many brands and retailers around the world have been making the move to sell direct-to-consumer in an effort to not only stay in business but to possibly enter new markets. Simultaneously, because of the rise in direct-to-consumer sales for brands, we have seen the rise of private labels within retailers. The waters between brands like Nike and retailers like Decathlon are potentially blending. In the last six months, these two global sporting goods companies have contended well with a fast-changing industry and many may look to follow. As global industries continue to try to keep up with the growth of e-commerce, consumer demands and behaviour, technological advancements, and more recently the pandemic, we have taken a look at how these companies and others are adjusting and performing. A tested relationship In the fight to catch the consumer’s attention, retailers and brands are climbing to new heights to not only increase profits, but to stand out in the minds of consumers enough to earn their loyalty over the long term. Traditionally, an online retailer would stock a brand’s items which would then be sold to a customer who visited their store. However, the rise of e-commerce and direct-to-consumer shopping channels is making the relationship between the two, at times, a tense one. Not only is the relationship becoming fraught, consumers are starting to see brands and retailers as one in the same. This is because both of them are going the distance to offer a unique shopping experience, and both of them are offering similar - if not identical - shopping methods. If a consumer shops on and buys a River Island jersey, it is safe to say the customer likes and trusts both the retailer (ASOS) and the brand (River Island). But, what happens when River Island opens up their own online store? The customer can now go directly to them. In reverse, what if the customer is already aware of River Island’s online store but prefers the shopping experience on Perhaps they have faster shipping or nicer packaging. At its essence, this all comes down to one question: Who owns the consumer? Now more than ever, it is easier for brands to sell directly to consumers and, although they see the value of large retailers selling their products, most brands would ideally prefer to have the attention of the customer to themselves. Theoretically, if a brand truly wanted to start selling online overnight, they could launch a Shopify or Magento site paired with an Instagram shop and a couple of Google ads for marketing. But, like we said, this is theoretical and brands should not rush to launch a direct-to-consumer online channel without a clear retail strategy. The shift towards D2C Approximately 5 months ago, DSW, one of the largest shoe retailers in the US, received their last-ever shoe shipment from Nike. This is because Nike is shifting its focus and its products away from third-party retailers to their own online website, mobile app, and their brand concept stores. If you want to wear Nike, you’re going to have to shop from Nike, and this is by no accident: The sporting goods giant has been implementing this strategy since 2017 and, bit by bit, their shoes and apparel are getting harder to find in external sporting retailers around the world. So far, Nike’s Head of Finance Matthew Friend says that they have “exited 50%” of their retail partners. Aside from wanting to increase profits and connect with markets via e-commerce, Nike’s then-president Trevor Edwards stated that is about removing themselves from “mediocre retail”. From 30,000 retail partners, Nike’s plan has been to cut down those partnerships to an exclusive 40. By doing this, Nike is able to control the shopper experience, gain new customers, cut out the costs and admin associated with the traditional B2B chain of custody, and position themselves as an exclusive brand. As a retailer, Decathlon is developing an omnichannel purchasing experience for consumers as they focus on online sales across both direct-to-consumer and via third party online channels. In China in March 2021, they joined with their own flagship store, an e-commerce giant, which was a smart move considering online sales for all retail in China surpassed brick-and-mortar sales, accounting for 52.1% - a world first. In Switzerland, Decathlon is strategically planning to benefit from a shop-in-shop concept without the costs associated with their own department store as they shift more focus to online sales through a partnership with the Manor Group, a retail conglomerate that generates a revenue of €1.6 billion. The benefits of the shop-in-shop concept are obvious, but more importantly will retain some brand awareness and exposure. Despite the line between retailers and brands becoming thinner and weaker, retailers are not going down without a fight. To contend with brands becoming more autonomous, retailers are launching their own in-house private label products, essentially becoming a brand in itself. From clothing to sporting goods; from shoes to electronics; retailers are creating high-quality private labels which is increasing customer loyalty. According to a McKinsey & Company study, during the Covid-19 crisis, 38% of consumers tried a new private label brand and the most common reasons were affordability and availability. In addition, 40% of the same tested group said they’d continue with a private label after the pandemic subdues for the same reasons. In 2017, Decathlon began making plans to have their entire product range owned and manufactured by them by 2020, however, with the surprise of the Covid-19 crisis, this plan has slowed. Former spokeswoman for Decathlon Germany Genevieve Mulack said that “we will develop all our products ourselves in the future.” Today, Decathlon owns close to 70 brands stocked in their stores, ranging from cricket to mountaineering to basketball to yoga and everything in between. How would this move affect their pricing and overall performance? It may be too soon to tell, however if we look at Decathlon’s sales in China from 2013 - 2020, a period in which a direct-to-consumer online presence certainly increased for many global brands, we may be able to make a fair prediction that Decathlon’s sales should not be affected as long as distribution and manufacturing can keep up with global demand. In 2013, Decathlon in China made €7.4 billion, which rose to €12.4 billion at the end of 2019 (2020 saw Chinese sales drop to €11.4 billion because of the pandemic). As for Nike, after they started opening Nike-owned retail stores and their own online store, direct-to-consumer sales and revenue have consistently increased from €2.2 billion in 2010 to €12.8 billion in 2021. As a part of their direct-to-consumer push, Nike also aimed to have 30% digital penetration by 2023, meaning that 30% of their total direct-to-consumer sales would be from e-commerce, however, they’ve already flown past that goal. By the end of 2022, digital penetration was at 39%. With Decathlon and Nike owning and controlling their brand, this eliminates some of the competitive antics involved in pricing strategies with product resellers, allowing them to control their retail prices more competitively. The current market conditions are possibly accelerating the direct-to-consumer “D2C” move By the end of 2020, global e-commerce spend increased from 4 to 18% since 2010, totalling €3.7 trillion. Moreover, if we take a look at the last decade of retail, we can see a number of advances that have caused a ripple effect over the years: Online shopping stores became more user-friendly with advancements in UX and UI; transactions became safer and more trustworthy while more payment options also became available. The ability to shop on your mobile phone via an app developed by the retailer increased. By the end of 2021, 47% of all leading web shops in Europe had an app version for mobile shoppers. As of October 2021, 80% of smartphone owners in the US bought something from their phone in the last 6 months. Online marketing through social media platforms like Instagram and Facebook further developed. With 1.4 billion users on Instagram alone and with Europeans spending an average of 1 hour and 15 minutes on the app every day, there has never been a more direct way to reach consumers. Shipping became faster and more reliable, with Amazon setting an establishment for two-day delivery. Soon after, next-day and same-day delivery became industry-standard. Omnichannel selling became more of a necessity, instead of relying on the physical presence of a department store. Tracking customers by location, organic searches and their previous online purchasing history was developed and has largely become standard practice. Retargeting existing customers via email and social media marketing were also developed. Dynamic pricing; a focus on seasonality, price elasticity and high runner strategies are now at the forefront of pricing methodologies, let alone the adoption of newly developed machine learning algorithms and automation. E-commerce became essential as of 2020 due to the pandemic. Consumers became more price sensitive as the economy slowed. An ever-changing landscape In an ever-changing industry, an omnichannel or direct-to-consumer business model for brands is proving to be a good move. Other than the above-listed reasons, why else should brands consider moving to a direct digital channel? Another reason for developing one's own e-commerce platform or app is to become more pricing-focused, thus increasing your profit. Another reason is creating a brand narrative which can be done more effectively than ever before - and that is just the start. In 2021, the global consumer electronics industry generated €655 million in revenue, which is expected to grow to €839 million by 2025, depending on the supply-and-demand on semiconductors. That’s an annual growth rate of 7.2%. In India, the rise of D2C consumer electronics brands in the face of global giants like Apple, Samsung and Xiaomi has not whimpered. Brands like BoAt, Portronics, LoopAudio and Noise manufacturer, market and sell their products, which include headphones, Bluetooth earphones, smartphone covers, portable speakers, travel chargers and more. Similarly to Decathlon and Nike, BoAt has a hybrid D2C/B2B business model with shopping experiences available through their own web store, brick-and-mortar retail brand stores, Amazon and Flipkart. Out of all the above-mentioned sales made in the consumer electronics segment in 2021, 43% were completed online, which is up from 37% in 2019. US bike manufacturer Specialized recently made strategic changes to its business model. From February 2022, shoppers can order their pre-assembled bike on their website and have it delivered directly to their homes. Up until now, however, local bike dealers played the middleman by assembling the bike for the customer and delivering it to their home or, if the customer lived close by, they would collect it. By offering this service to Specialized, these bike dealers received a cut of the profit from each sale. Now that customers have the option of ordering pre-assembled bikes for home delivery, local bike shops will be receiving up to 50% less of their usual margin, and in some cases, not at all if customers continue to choose the pre-assembled home delivery option. Before officially announcing this change, founder Mike Sinyard said in April 2020 already that changes to Specialized’s business model were going to drastically change due to evolving consumer buying habits: “There is no escaping the reality that these changes will be disruptive for a while.” However, this was not Sinyard’s original sentiment roughly a decade ago when he boldly stated at a bike dealer event that Specialized would never sell bikes over the internet, in a bid to show loyalty to the bike retailer community the company has built since its 1974 inception. Fast forward back to April 2020, Sinyard said “Click-and-collect is a game-changer now. We see that as the best model working forward with our retailers.” This just shows the mental and physical shift companies have had to make in just a matter of years. In addition, now that Specialized has a stronger D2C element, they are reserving 15% of their stock just for D2C sales, thus making themselves a direct competitor to the very bike retailers they’ve been working with for years. What is the future for retailers and brands? Whether businesses like it or not, e-commerce is changing the retail landscape. In fact, the 2021 report by E-Commerce Europe stated that 73% of all citizens living in the EU-27 group shopped online in 2021 - that’s three-quarters of an entire continent. In addition, this number was up from 68% in 2019, showing a growing trend in shopping online. When online stores for brands were first emerging a decade or so ago, it was primarily used as a supportive entity to the primary department store, typically in a mall. Now, online stores and social media stores are built, managed, marketed and treated as individualistic, important parts of the selling machine - as they should be. With online sales being made more of a priority for companies, there are many opportunities to see businesses flourish and to connect with consumers in a more authentic way. Barclay’s estimates that the UK could make an additional €15.9 billion in revenue over a 5-year period using more direct-to-consumer strategies, and this could result in over 31,000 new jobs being created. Omnia certainly expects a trend in the coming years where more and more originally-focused B2B and online-oriented brands will enter the direct-to-consumer arena with some introducing flagship, shop-in-shop, concept brick-and-mortar stores or brand-owned online stores. We know that establishing a presence online seems on the outset to be an easy task at first glance, and it certainly has become more accessible to do so, but we also understand how competitive the market is in terms of advertising, dynamic pricing and logistics. Ultimately, this is where technology will eventually decide who remains on top and who flounders.

Meet the Team: Leon

Name: Leon Curling-Hope Company Role: Head of Marketing --- What is something people in your industry have to deal with that you want to fix? To simply connect people and companies with the right product or service in...

Name: Leon Curling-Hope Company Role: Head of Marketing --- What is something people in your industry have to deal with that you want to fix? To simply connect people and companies with the right product or service in the most effortless way possible. I think we all can complicate things at times, especially marketers. Yet if you can merely deliver your' elevator pitch' succinctly and memorably, demonstrating your value and promise, you are almost there. What is your past experience, for working in your position? I hold a Bachelor of Arts in Marketing and a number of other qualifications from various universities and business schools, currently I am working towards my MBA at the University of Amsterdam. Looking back at my career and experiences, I have gained from both sides of the table, be it from the advertising agency or the brand itself. From start-up, scale-up to large global conglomerates. From building marketing campaigns with little to no budget, to shooting million-dollar global ad campaigns with pyrotechnics, puppies and supermodels to boot. I believe I bring not only a sense of range, but the ability to innovate, drawing from past experiences in marketing everything from complex SaaS services, financial instruments and luxury goods to toothpaste, soda and stuffed fluffy toys. In the end, it comes down to finding resonance, a truth or a desire for every brand, product or service - also known as the Why, How, What factor that Simon Sinek coined. What do you like about working at Omnia Retail so far? The culture. They say that the environment is what makes a job great, and in my opinion, is mostly driven from the top. And I'm sure we all have been there at some point of our career, being pitched a view or vision of a company's culture that usually does not materialize. I can say without a doubt that much effort is put into driving the culture here at Omnia Retail, and it shows the moment you walk through the door. What are the values that drive you? Honesty, perseverance and consistency. I believe that if you are continuously consistent at anything you're doing, and you continue to push and drive at it, not giving up at the very first sign of uncertainty. There is a huge chance you will become successful and achieve. What are your top-3 favorite books or podcasts? Top 3 books would have to be: Principles - Ray Dalio The Alchemist - Paulo Coelho Count of Monte Cristo - Alexandre Dumas What do you enjoy doing in your free time? I enjoy spending time on the road, be it cycling or running. I feel it keeps you honest, as whatever you put in, you will get out. Other than that, I am also an admitted foodie, so often entertaining at home, making something in the kitchen for friends with a glass of red wine, of course. Let’s end with your favorite quote! “You have 3 options in life; Pivot Persist or Surrender”―Matthew McConaughey

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