Stansted airport group makes more money from car parks and shops than it does from aircraft fees.
Business & Brands
At any one time, Starbucks has about $1.8 billion loaded on to customers’ gift cards or its app. If Starbucks was a bank and you treated the gift cards as deposits, it would be in the top 10% of banks in the United States.
The Starbucks mobile ordering feature became so popular that baristas were unable to cope with the demand, wait times were longer, and the company reported that a ‘mid-teens percent’ of mobile orders went uncompleted. In short, it worsened the problem it was set up to solve.
The Pratfall Effect states that people can demonstrate honesty by acknowledging a weakness. Stella applied this principle in 1982, before it had a name, with the iconic ‘Reassuringly Expensive’ campaign.
In 1972, Steve Jobs’ curiosity compelled him to take a calligraphy class at college, despite knowing it wouldn’t count towards his final degree. But this knowledge helped him create the Apple Mac’s slick, user-friendly typography – an integral part of its mass-market appeal.
Fitness app Strava has inadvertently become a platform for artistic expression. Strava Art has become a global movement, ever since users realised they could use the GPS tracking line to create unique drawings.
Employees of Stripe, the payments giant, initially needed to convince tech accelerators to use their platform. Rather than sending them an email, they’d sit and help them install the software of their apps in person.
Swingers, the mini golf bar concept, wouldn’t exist with a healthy dose of ignorance. According to co-founder Jeremy Simmonds, “we were so naive and knew so little about the hospitality industry. We did not have a business plan, there was no spreadsheet or model. Nothing. I can’t tell you how many people who are so-called experts in this space warned us against doing all the things we did, that it couldn’t work.”
One evening, Leah Busque realised she had run out of dog food and was worried all the shops would be closed. “We were certain that there was someone in our own neighbourhood that would be willing to help us out, and it was just a matter of connecting with them.” A few months later, she created TaskRabbit.
It set out to destroy newspapers. “We will wait every local paper out and let them continuously bleed until we are the last ones standing,” said founder Alex Mather in 2017. Then, in 2022, it became one. The New York Times acquired it, promising unparalleled reach and greater user retention.
TikTok is more than a video platform – it’s a place for discovery. An Adobe report suggests that 40% of Gen Z consumers use it as a search engine: looking for new recipes, fashion advice, workout routines and much more. In other words, TikTok is fast becoming a vital battleground for brand promotion.
TikTok has started to upload full episodes of TV shows. The pilot of Killing it, a new comedy show, racked up 4.5M views in 3 days.
A recent Stanford study shows that half of Tinder users aren’t interested in meeting offline, and nearly two-thirds are already married or in a relationship. It turns out that social connectedness and entertainment are key motivations to start swiping.
Ben Greensmith, the UK manager of Tony’s Chocoloney, credits the brand’s growth to clever placement: in 2020 Ocado wanted to send a free gift to loyal customers during the pandemic and bought 400,000 bars of Tony’s Chocolonely to give out with orders. Before that “no one had heard of the company, and now 58 per cent of the UK population recognises our milk chocolate bars. That’s pretty incredible.”
Uber could have easily resorted to defining themselves as a taxi service. But they never wanted to limit themselves to moving people around in cars: Uber exists to “reimagine the way the world moves for the better.” This has given Uber a credible platform to provide services as varied as food delivery (Uber Eats), healthcare (Uber Health) and, more recently, travel services.