LSN : News : Stat: Digital banking accelerates in the Gulf region

Porsche is localising automotive retail

Porsche Studio, Oslo

Norway, South Korea and Switzerland – Porsche, the luxury car manufacturer, has opened a range of new retail formats to elevate customer experiences. Operating under the umbrella concept of Destination Porsche, the spaces are designed to complement local surroundings; with an ocean view in Oslo and vegetation interiors on Jeju Island. To bolster the local focus of the destinations, tea and coffee are also supplied by regional businesses.

In a bid to entice Porsche enthusiasts, the spaces are designed to host small events, launches and exhibitions – in addition to offering delivery, collection and test drives like a traditional car showroom. Through these urban formats, the brand is responding to the desire for more engaging automotive retail experiences that attract consumers beyond purely functional needs.

By expanding its services beyond the transactional showroom, the brand encourages increased dwelling time while appealing to a wider range of audiences. Particularly in an age when luxury car brands face challenges to maintain in-person interaction, this anti-sales approach is likely to attract ongoing engagement.

Strategic Opportunity

Showrooms with a single-format display are no longer enough. Car brands should take inspiration from the wider retail sector and create experiential experiences specific to their local clientele.

This dual-purpose serum shields against travel pollutants

Catch Flights, Not Feelings Skin Shielding Serum by Goodhabit, US

US – As consumers regain a glimmer of hope of returning to travel experiences, skincare brand Goodhabit has introduced a protective serum to shield against environmental and pollutants. Its Catch Flights, Not Feelings Skin Shielding Serum provides a barrier for pollutants like dust, smoke, smog and dry air inside aeroplanes. Featuring circulation-boosting ingredients such as Evodia Fruit and Arnica Extract, the product protects against skin concerns such as dehydration, hyper-pigmentation and dullness.

Recognising the multiple skin stressors associated with on-the-go lifestyles, the serum taps into a future in which flying returns as a regular activity, while also protecting against urban aggressors. Through this innovation, the brand tunes into people’s daily environmental concerns and responds to the trend of Wanderlust Beauty.

While tourism has largely been put on pause during the pandemic, such products benefit both the travel and beauty sectors through hopeful marketing and forward-thinking products. But with travel remaining uncertain, Goodhabit's multi-faceted solution allows it to maintain relevance in the inter-Covid period.

Strategic Opportunity

Take cues from this brand and consider ways to merge your existing offer with elements of other sectors – particularly those that have temporarily had to cease operations during Covid-19.

TikTok’s pop-up educates on teen tech welfare

London – Providing learning and exploration for both young creators and parents, social media platform TikTok is hosting an immersive pop-up space in Westfield shopping centre. Its For You House features interactive spaces including The Living Room, The Kitchen, The Dressing Room and The Garden – each offering creator-led sessions on themes from beauty and dance to cooking and entertainment.

Celebrating the community and creativity of the platform, these sessions reflect TikTok's most popular trends, while a Trust & Safety educational element supports parents in keeping teenagers safe.

By simultaneously tapping into the interests of young users and minimising parental concerns, TikTok is taking responsibility for its services and ensuring it promotes positive online interactions.

As the video-sharing platform continues to grow in popularity, there is increasing need for brands to play a supportive role in providing Teen Tech Welfare.

TikTok For You House at Westfield London

Strategic Opportunity

Social networking sites must take responsibility by catering for the safety needs of users. Consider creating an offshoot platform or service that targets parents without burdening young audiences.

Stat: Digital banking accelerates in the Gulf region

Personal Digital Space, Tom Galle

Adoption of digital banking services is on the rise in countries of the Gulf Cooperation Council (GCC), driven by changing behaviours as a result of the pandemic, according to a survey by Backbase and YouGov.

The research found that 89% of consumers are now more likely to opt for digital banking services than make a physical visit to a bank branch. With lockdown restrictions and bank branch closures having forced consumers online, some 77% of respondents say they now use digital banking services at least once a week. Meanwhile, 30% say they use these services once a day or more.

This increased adoption of digital self-service banking requires brands to offer intuitive experiences with the same convenience that consumers are used to with popular e-commerce and entertainment platforms. In a similar vein, we’ve previously identified the ways in which insurance brands are elevating their products to suit digital-first consumers.

Strategic Opportunity

To cater for this growing audience, digital banking services could diversify their offer to include more complex services such as mortgage and loans advice, in a way that echoes the useability of familiar online platforms.