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jerryking : event-driven   12

Ghost kitchens : the next disruption in the restaurant industry ?
8 Jan, 2018 | intotheminds | Posted By Pierre-Nicolas Schwab.

(1) https://www.restaurant-hospitality.com/operations/ubereats-nudges-operators-toward-virtual-restaurants
(2) https://www.theguardian.com/business/2017/oct/28/deliveroo-dark-kitchens-pop-up-feeding-the-city-london#img-3

ghost kitchen make perfect economic sense : margins are thin in the restaurant industry, driven by high employees-related costs, rent, expensive equipment and variability in demand. Setting up a restaurant is a bet with a 5 to 20-year time horizon depending on myriad factors : your positioning, the location, and many exogenous factors out of your control. Eliminating all those risks seems like a logical move :

how to make a restaurant less location-dependent ?
how to adapt quickly to demand ?
how to reduce fixed costs (renting and equipping a place) ?
The bright sides : 3 major advantages of ghost kitchens

**The 3 major advantages of ghost kitchens are their answers to the 3 problems listed above :

the restaurant is not location-dependant anymore. If there is an event likely to generate massive flow of potential customers, you can move
ghost kitchens can adapt quickly to demand : the standardized kitchen unit just has to be multipled, which is not possible with street food vans unless you own several of them (which brings us to the 3rd advantage).
ghost kitchens, because they are rented from online platforms like Uber Eats and Deliveroo, transfom fixed costs into variable ones. This is great to test your idea and is a cheap way to do market research and test traction on a market.

** The dark sides of Uber’s and Deliveroo’s ghost kitchens
1. Why would one still rent a place to operate a restaurant ?
Good question indeed. If all hurdles and risks of operating a brick-and-mortar restaurant can be removed, why would you still want to rent a place (fixed costs), buy the equipment (fixed costs), hire employees (fixed costs) and wait on patrons to come in (variable revenues) ? If a platform like Uber or Deliveroo can provide you with customers’ orders, the need to have a brick-and-mortar place would vanish.
But if every single restaurant owner adopts that posture, how will city centers look like on the long run ?

2. Dependence towards platforms
What happened with the hospitality sector may well happen on the middle-term in the restaurant industry too. Uber eats, Deliveroo have disrupted the way we consume food. This is a new societal change that is most to be felt in Europe (urban Americans use already to get food delivered to their homes, most restaurants in US cities proposing at home delivery) : it has become easier than ever to get food delivered at home.
If enough restaurant owners make a significant percentage of their revenues through those platforms, they will eventually become dependent on them and will struggle like hotels are now struggling with Booking.com. Using platforms is a wise strategy to grow revenues but it can also become a very dangerous one if your dependence to them increases.
beyond_your_control  commercial_kitchens  disruption  fixed_costs  food_delivery  kitchens  platforms  restaurants  variable_costs  Deliveroo  Uber  asset-light  event-driven  experimentation  test_marketing  pop-ups  cold_storage  on-demand  dark_side  virtual_restaurants  bricks-and-mortar 
january 2019 by jerryking
How Data Is Revolutionizing The Sports Business
March 10, 2017 | Forbes | By Robert Tuchman , CONTRIBUTOR who writes about live events, deals, and brand marketing.

A top-notch record might be chalked-up to the right players and exceptional coaching, but a team’s increased brand awareness can be credited to its effective use of newly sourced data. The Panthers have been able to grow its business in a multitude of ways since it started acquiring and using key fan data....[there is] an array of data companies who are looking to assist organizations in this area.

Many of these emerging companies access information through individual data systems, third-party vendors, and social media sites. Beyond educating teams about the buyer of their tickets, these companies are helping teams better understand the individuals entering their building. This insight is a game-changer for teams as it can help to better service existing fans and develop new ones. To better service its fans, the Panthers created unique events that catered to their interests, which they learned from their data. For example, in a game against the Colorado Avalanche, Florida hosted an evening honoring the Grateful Dead. The Panthers organization secured a well-known and beloved Florida cover band, Unlimited Devotion, to play the hits of the legendary musical icons. Incentivizing “Dead Heads” to purchase tickets via the Internet, limited edition memorabilia was made available only for online ticket purchasers, with a portion of the profits going to the Grateful Dead's non-profit organization. These types of cross promotions work best when you understand the specific interests of your fans.

And the results are in. The Miami Herald reported that during the 2015-2016 season, attendance went up 33.5 % from the previous season. In addition, season ticket renewals are reportedly increasing at four or five times last year’s rate......In today’s fragmented world, it is more important than ever for teams to generate loyalty and create a personalized customer experience. As in the case of the Florida Panthers, the greater involvement a fan may have in a team’s activities, the greater the possibility they migrate from their living rooms to the venue. More fans equal more sponsors, which leads to greater revenue for teams.

Data companies can help teams better understand its fans. Innovative sports franchises are figuring out how to use this data to create stronger engagements with their actual fans.
sports  data  data_driven  Moneyball  event-driven  events  event_marketing  fans  fan_engagement  musical_performances  cross-promotion  customer_loyalty  personalization  customer_experience 
august 2017 by jerryking
Building an Empire on Event Data – The Event Log
Michelle WetzlerFollow
Chief Data Scientist @keen_io
Mar 31

Facebook, Google, Amazon, and Netflix have built their businesses on event data. They’ve invested hundreds of millions behind data scientists and engineers, all to help them get to a deep understanding and analysis of the actions their users or customers take, to inform decisions all across their businesses.
Other companies hoping to compete in a space where event data is crucial to their success must find a way to mirror the capabilities of the market leaders with far fewer resources. They’re starting to do that with event data platforms like Keen IO.
What does “Event Data” mean?
Event data isn’t like its older counterpart, entity data, which describes objects and is stored in tables. Event data describes actions, and its structure allows many rich attributes to be recorded about the state of something at a particular point in time.
Every time someone loads a webpage, clicks an ad, pauses a song, updates a profile, or even takes a step into a retail location, their actions can be tracked and analyzed. These events span so many channels and so many types of interactions that they paint an extremely detailed picture of what captivates customers.
data  data_driven  massive_data_sets  data_scientists  event-driven  events  strategy  engineering  Facebook  Google  Amazon  Netflix 
april 2017 by jerryking
Fast Response to ‘Brexit’ News: A Pop-Up Paper Finds Success in Britain - The New York Times
By NICOLA CLARK SEPT. 13, 2016 | NYT |

“It kind of dawned on me: Here was an audience that was so clearly identifiable and passionate,” said Mr. Kelly, a longtime British newspaper executive who is now chief content officer of Archant, a large British newspaper group. “If there ever was a time for launching a new newspaper, this is it.”

Less than two weeks later, in early July, The New European, a weekly print newspaper, hit newsstands nationwide. The paper, conceived as a finite, monthlong experiment, is now going into its 11th week after proving a surprisingly profitable hit with readers.....Some midsize publishers have focused on portfolios of smaller-scale titles that can be produced using the same infrastructure of presses, distribution and marketing networks. Those economies of scale can significantly reduce the marginal costs — and the risks — of developing new print products....earlier experiments, aimed at general-interest audiences, failed to capture enough demand from readers and advertisers to justify their publishers’ relatively modest initial investments....The New European was conceived as a niche publication--the 48 % of Britons who voted on June 23 to stay in the European Union Since it was meant to be short-lived, Archant avoided spending huge sums on market research or publicity campaigns. “We never set out to actually create a long-term brand,” “The way we structured it was to make money on a four-week run.....successful pop-up titles could be linked to popular political or social movements, or major sporting events like last month’s Olympic Games in Rio de Janeiro.
pop-ups  newspapers  digital_media  Brexit  experimentation  new_products  product_launches  United_Kingdom  economies_of_scale  epiphanies  event-driven  events  social_movements  contextual  cost-structure  print_journalism  short-term  niches  short-lived  sports 
september 2016 by jerryking
All hail the hashtag: How retailers are drawing you in, one Facebook post at a time - The Globe and Mail
MARINA STRAUSS - RETAILING REPORTER
The Globe and Mail
Published Tuesday, Sep. 29, 2015

Welcome to Retail 3.0, in which retailers use social media in a bid to draw young shoppers such as Campos back to bricks-and-mortar outlets.

Just a few years ago trendy shops lured consumers with an in-store coffee bar or barber shop. But today a hot brew or hair trim isn’t enough: Retailers increasingly feel the pressure to attract cyber-savvy shoppers to their physical outlets with eye-catching social media experiences that can be shared multiple times.

The social-media initiatives range from fitting rooms in Kate Spade stores that provide a backdrop for selfies with “like?” in a speech bubble to luxury parka purveyor Nobis installing photo booths at its store launch parties; and department store Nordstrom, whose roots are in shoes, encouraging shoppers to “shoefie” (take a selfie of their footwear) next to the store’s name. The images, uploaded on social media, put a spotlight on the brands.....social-media posts can pump up sales during an event as much as 20 per cent. About 60 per cent of Canadian consumers say they’ve come into contact with different products and brands through social media and, of those, 46 per cent say the interactions resulted in them making more purchases, up from 32 per cent in 2014, according to a survey this year by consultancy PwC.
digital_influencers  event-driven  social_media  Retail_3.0  imagery  Marina_Strauss  product_launches  selfies  retailers  millennials  Instagram  Facebook  e-commerce  bricks-and-mortar  in-store  footwear 
october 2015 by jerryking
The Man Who Knows Everything: Vivek Ranadive Profile - Vivek Ranadive TopCom Software
January 19, 2012 | Esquire | by Ryan D'Agostino. Vivek Ranadivé wants to harness the ocean of data in this world. And save civilization.

In the lexicon of computer hardware, a bus is connected to the motherboard — the foundation of any computing system. Ranadivé brought that idea to software: If all the physical components of a computer have a single hub, why not all the information floating through the software? Instead of a traditional hardware bus, an information bus. That's what the Tib in Tibco stands for: "the information bus." The company plucks seemingly disparate bits of data, often in real time — as opposed to "batch processing" at the end of the day, month, quarter — and makes them work with a singular purpose.....Ranadivé's goal is to make sense of the pile of data created by information overload. Tibco's mantra: the right information to the right people at the right time in the right context.
Vivek_Ranadivé  Tibco  massive_data_sets  data  real-time  Silicon_Valley  event-driven  WEF  Davos  Reliance  location_based_services  mantras  LBMA  the_right_people 
may 2012 by jerryking
The fight of Richard Rainwater's life - Fortune Management
November 7, 2011 | Fortune | By Peter Elkind and Patricia Sellers, with Doris Burke.
The renowned dealmaker built a fortune using little besides his wits. Now he's funding a crash program to stop the disease that's destroying his mind.

Rainwater's deals were just as eclectic and creative. But a pattern quickly emerged. Rainwater always looked for a big event. A blowup in energy prices. A revolution in health care reimbursements. A real estate bubble. Then he looked for a powerful way to exploit the upheaval -- not just to bet the trend but to turbocharge the bet. To snatch up drilling assets at panic-sale prices and hand them to the oil patch's most astute operator. To build a chain of super-efficient hospitals. To buy premium downtown office space (the quickest to bounce back) on the cheap after a market crash.
Bass_brothers  big_bets  bubbles  creativity  cunning  dealmakers  discontinuities  event-driven  events  leverage  Richard_Rainwater  turbocharge 
november 2011 by jerryking
DeMaurice Smith Takes On the N.F.L. Owners - NYTimes.com
By SRIDHAR PAPPU
January 22, 2011

As a corporate lawyer at Patton Boggs, the high-powered Washington firm,
Mr. Smith dealt with companies that were either “in crisis or were
about to be.” As a candidate for the N.F.L.P.A. job, he composed what he
called “Playbook: An Enterprise Philosophy to Maximize the Business and
Political Interest of the N.F.L.P.A.” “About 60 percent of it,” he
said, “was envisioning what the chances were of a lockout and what to do
to prepare for it.”

It was a useful exercise. “The only bad thing is that everything we
thought and contemplated the league would do they’ve done,” Mr. Smith
said.
anticipating  creating_valuable_content  crisis_management  enterprise_clients  event-driven  labour  lawyers  negotiations  NFL  playbooks  preparation  sports  troubleshooting  turnarounds  unions 
january 2011 by jerryking
Gulf Oil Spill's Fallout Widens Debate on Government's Proper Role - WSJ.com
MAY 28, 2010 | Wall Street Journal | By GERALD F. SEIB. New
Rules in an Old Tug-of-War. A presidential commission soon will put
the relationship (govt.-offshore oil industry) in therapy. The risk is
that the wrong question may dominate the coming discussion—namely,
whether there was too little regulation of the offshore oil industry.
The better question is less about quantity than quality: Were
regulations smart and up to date? They almost certainly weren't. ...The
broader point is that the BP oil spill is just the latest in a series of
traumatic events forcing a rethink of government's relationship with
business. Bank bailouts, energy plans, auto-maker rescues, Toyota
accelerator problems: All have forced both politicians and average
Americans to rethink the proper role of government in the private
economy.
bailouts  Gerald_Seib  government  private_sector  BP  oil_spills  regulation  event-driven  events  regulators  business-government_relations  politicians  offshore  offshore_drilling  questions 
may 2010 by jerryking
Financial Adviser: A New Landscape Of Wealth Managers - Financial Adviser - WSJ
September 28, 2009 | Wall Street Journal | by Kevin Noblet.
"Some of the biggest winners were smaller old-line private banking
outfits, which benefited as last fall’s financial crisis rocked some of
the giants to their core. Bessemer Trust, formed more than 100 years ago
to manage the money of the Phipps family, partners of Andrew Carnegie,
shot up to No. 13 in the ranking from No. 20 last year. Northern Trust,
long a favorite home for Midwest fortunes, climbed from No. 13 to No. 8.
Fiduciary Trust, started during the Great Depression to serve the
anxious rich, leaped to No. 29 from 37."
wealth_management  high_net_worth  financial_advisors  Bessemer_Trust  boutiques  competitive_landscape  decreasing_returns_to_scale  economic_downturn  event-driven  emotional_connections 
september 2009 by jerryking

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