#104 The Least boring Weekend Newsletter
Good Afternoon Readers!
Here’s to wishing for a successful day ahead!
The first Metaverse Expo, which will include all things tech and digital, will be held in Las Vegas from Friday through Sunday. TCG World, an online virtual gaming environment, and Jigsaw Puzzle International Convention will hold its first-ever convention at the very same time in a separate but connected area with Metaverse. They are the organizations behind the event.
The convention will be jam-packed with activities, business speakers, and exhibitors addressing subjects including blockchain technology, artificial intelligence, and metaverse entrepreneurship. Ken Shamrock of the WWE Hall of Fame, Clipz, the creator of FaZeClan, and Agon Hare and Sonya Mulkeet, co-creators of the YouTube channel Project Nightfall are among the speakers. The event floor will be filled with luxury automobiles, racing gear, e-gaming trucks, and a DJ booth. Participants may also anticipate gaming celebrity tournaments, NFT gifts, and special announcements.
Almund’s newsletter will give you all kinds of tips for DTC brands and much more.
Alright, so let’s get right to it!
This newsletter is going to dive into:
🚀 Interview In The Metaverse b/w Lukaku & Inter President Zhang
🔊 Brand Perception Measure
🥇 Brand Of The Week - Home Depot
🎁 Brand Deals Of The Week
📕 Top Reads Of The Week
⚙️ Plenty Of Jobs Await You!
So, scroll down to THE VERY END & read up on what’s yet to come your way!
DTC X Metaverse
The metaverse is becoming an increasingly important part of the world of sports, especially football. From fun and engaging activities that people can partake in online to feel the spirit of the sport to being heavily involved in the championship—Metaverse is making it all possible.
In fact, it's even becoming a part of some professional sports leagues like the National Football League (NFL), which recently announced that it will be using virtual reality to help players improve their skills during off-season workouts. The NFL says it will use VR headsets from tech company STRIVR to help out football players improve their performance in areas like tackling, blocking, catching passes, and more.
The Metaverse has already started taking over other forms of entertainment, moving swiftly on to interviews. This week during a gathering that took place in the Metaverse itself, the Italian media outlet spoke with Steven Zhang, the young owner of Inter. In a quick but interesting conversation, Zhang discussed how new technologies are impacting football and how they are helping to boost revenue and interact with fans.
"[We are] reaching consumers on a wider scale and with greater ability than we could ever have imagined in the past," Zhang said. "I'm sure that in 20 years' time when we talk about a club's revenue, ticket sales or TV rights will no longer be the main categories. There will be social media, metaverse, and merchandising, all completely digital.”
What further solidifies his belief is the fact that they’re already seeing 10-20% of the club’s revenue coming in from digital mediums as stated above.
Buy Now, Pay Later Credit Liquidity for Payments in the DTC Industry
Shoutout to our guest writer for today, Nitish! Show them some love 📖
“Buy Now, Pay Later” – you’ve probably NEVER heard of this option while shopping online.
Well, until most recently.
Buy Now, Pay Later, or BNPL is a short-term financing plan that places flexibility in the hands of the customer — empowering them to make purchases instantly while paying for them at a future date. Which is, truly, a match made in heaven.
With more than half of Americans found to be living paycheck to paycheck, firms that offer non-traditional payment offerings, like BNPL, have shown immense growth potential. In fact, the market is predicted to hit a whopping valuation of $3268.26 billion by 2030. Hope you’re buckled in, my venture capital friends 🚀
How does it work?
Let’s say you’re shopping for a Walnut Charcuterie Board Set worth a total of $100 online. Yes, they exist. Promise. And as you get to the online checkout, you’re presented with the pleasant opportunity to pay for the product in 4 interest-free payments of $25 each with a registered payment provider. Your eyes light up in excitement. Cha-ching! 💰
However, these payment options are ONLY offered after a soft credit check on the customer since they operate as separate entities from the ACTUAL retailers.
Wait, what? 😯
Payment providers like Klarna, Clearpay, PayPal, Afterpay, and Paybright, among others that offer BNPL services, make money from the retailer and not the customer. Typically, they take a cut from any transactions they help the retailer make online. These “cuts” could range anywhere between 2% to 8%, similar to agreements made between traditional credit card companies and merchants.
Why does it work?
If you don’t enjoy the idea of dropping $200 at once for a pair of Ray-bans, this one is for you. If you do enjoy it, however, this is definitely for you as you might learn a thing or two 🙌
Here are a few reasons why the BNPL business model works:
For customers:
Flexibility: You can spread the cost of the product into smaller amounts over a short period of time, usually weeks or months.
Level playing field: You don’t need a credit card to avail of “credit” services for smaller purchases anymore. All, while without having to worry about an extensive credit check.
For DTC brands:
Increased conversions: Data shows that online brands that offer BNPL services have increased shopping cart conversions by almost 20-30% more.
Boost in sales and average order values (AOV): Offering BNPL services influence customer behavior to boost overall sales and increases average ticket size by between 30% and 50%.
Whether you’re a customer or a retailer, BNPL is the way to go. If you don’t — you’re probably going to be left behind. And we don’t want that for you. We’re hoping to equip you with the extra knowledge you need to set you up for success 👀
If you enjoyed this read, be sure to check out Nitish Menon’s blog here. There’s some fun stuff for all marketing buffs out there. And if you’re hoping to learn how to evaluate your online marketing performance, using important metrics like CAC, LTV, etc., click here (includes sample case studies and dashboards for measurement).
Brand Of The Week - Home Depot
To stay on-trend and in demand, Home Depot is putting together a Home Decor Line!
Home Depot is counting on home décor to become the first choice for clients wishing to redecorate their property. Home Depot has added kids' decor to its StyleWell home decor collection, signifying the company's intention to influence all facets of family life. 65 items in the collection are now available, including carefully chosen fabrics, soft goods, bedroom decor, & bathroom decor. The company's plans to diversify into the décor market first came to fruition in 2019 with the introduction of the StyleWell brand, a collection catered to younger consumers searching for modern and fashionable home goods.
Home Depot is anticipating that introducing more high-end home decor goods would eventually help them draw in more consumers with the continued growth of the StyleWell line. That paired with the fact that the pandemic induced an increasing requirement in home decor is a great reason Home Depot is stepping up and expanding its range to match the demands.
Brand Deals Of The Week
Enjoy the Vibe With the Best Boat Wireless Headphones with a huge discount Now!
Turn your Pay Day into play day with Croma's big discounts on smartphones.
50% off on ShoppersStop over 500 Brands.
Get a discount on all your grocery items with the Bigbasket Sale!
Give your child an extra comfortable mattress with a Pepperfry discount.
Top Reads Of The Week
Amidst rising inflation, FMCG companies report volume declines in the June quarter.
GAP now only sells through Reliance Retail in India.
Twitter experiments with enabling two writers per tweet.
Sudheer Tumuluru, a former Myntra executive, is named head of Crypto Engineering by Coinswitch.
Twitter's CEO aims to "swing back" in the spat over Elon Musk's purchase.
IN NEED OF A JOB? WE'VE GOT PLENTY AWAITING YOU!
Sr. Executive – Brand Marketing- Sugar Cosmetics
Assistant Manager Demand Planning- Pepperfry
Motion and 3D Design- Lenskart
Software Engineer- React Native Developer- Bewakoof
Sales officer- Nestle
CHOOSE SUCCESS below and have a great weekend! Get that D2C business runnin’.