LSN : News : Harrods is opening a multi-sensory virtual reality cinema

Uncommon’s latest ad showcases the ease of collecting Avios loyalty points

Everyday by IAG Loyalty. Created by Uncommon, UK

Global – In advertising agency Uncommon's latest campaign for IAG Loyalty, Avios loyalty points take centre stage as the solution to financing your holiday dreams. Avios, the loyalty program linked with British Airways and numerous partner brands, offers a straightforward way for individuals to accumulate points for flights, accommodation, car rentals and experiences.

Directed by Sam Walker, the Everyday ad features 35 individuals gracefully gliding over water on electric water boards, known as efoils. Each person carries items symbolising the diverse methods of earning Avios points, from grabbing coffees to hailing taxis. Notably, the scenes were captured entirely in-camera showcasing the team's expertise, including the stunt coordinator from the latest James Bond film, No Time to Die.

This campaign echoes Avios' past conceptual advertising and reinforces the brand's commitment to making loyalty points collection as effortless as a leisurely glide over water. Further exploration of the importance of running a successful loyalty programme can be found in NRF 2024 Retail’s Big Show: Community, Luxury and Loyalty.

Strategic opportunity

If your clients trust you enough to enrol in your loyalty scheme and consent to collect points through day-to-day spending, consider how to digest the large amounts of data on their preferences and habits to personalise your offer even further and make the right recommendations to them seamlessly

Kibu launches sustainable headphones designed for children

Kibu by Batch.Works and Morrama, UK

UK – London technology start-up Kibu has announced the presale launch of its sustainable children's headphones. The innovative Kibu Headphones, created in collaboration with manufacturing specialist Batch.Works and product design consultancy Morrama, offer more than just audio – they symbolise a shift towards responsible consumption in the digital age.

Crafted from post-consumer waste through 3D printing, Kibu Headphones are designed for durability and easy repair. 'The Kibu Headphones allow kids, for the first time, to build, repair and recycle their own electronics,' said Sam Beaney, CEO at Kibu, in a press release. The headphones are priced at £49 ($61, €57) and the presale began in April 2024, with shipments commencing in July 2024.

What sets Kibu apart is its commitment to sustainability and safety. The Kibu Safety Engine ensures sound is capped at 85 dB, safeguarding children's hearing and free replacement parts are available in the case of accidental damage, promoting repair over replacement.

Daisy chaining capabilities enable shared listening experiences, promoting inclusivity and reducing the need for individual devices. 'Kibu proves to the new generation of responsible consumers that electronics don’t have to be disposable,' said Milo McLoughlin-Greening, co-founder of Batch.Works. 'We’re not asking kids to change how they interact with products – they love to pull, twist and take apart,' added Jo Barnard, founder and creative director of Morrama.

As explored in Alphas Now and Next: From the Sandbox to Roblox, sustainability is a must-have to reach this generation of kids who are climate change literate consumers. Kibu aims to continue to educate younger generations about sustainability without sacrificing product quality.

Strategic opportunity

Consider incorporating easy repair features into products, even in the consumer electronics market, to encourage users to repair rather than replace items, thus fostering a culture of sustainability

Harrods is opening a multi-sensory virtual reality cinema

UK - Harrods has teamed up with VR cinema company xydrobe to launch a multi-sensory virtual reality cinema experience in the Knightsbridge department store.

Scheduled to debut in June 2024 on the fifth floor, the VR cinema promises visitors an unparalleled 4D immersive journey, along with a calendar of monthly branded events.

Designed to accommodate a maximum of 20 guests, the space will feature immersive experiences from leading luxury labels, providing a new medium of branded storytelling. Leveraging cutting-edge technology, VR headsets will deliver top-class visuals while sensory elements such as wind, temperature, surround sound and scents will further enhance the experience.

In our 2022 macrotrend report Hyperphysical Stores we explored how retailers were beginning to rethink bricks-and-mortar stores to be more engaging, sensorial and memorable. Harrods’ venture into VR marks the next chapter for retail, embracing phygital experiences to attract next-gen luxury consumers.

Beta Cinema by Module K, Vietnam

Strategic opportunity

How can you use phygital experiences to transform your bricks-and-mortar store into a cultural hub that provides consumers with new and interesting ways to interact with their favourite brands?

Stat: Young Americans are working a second job to reach home ownership

Nude, UK

US – Amid soaring housing costs, a Redfin-commissioned survey released in March 2024 reveals a significant shift among young Americans towards either working a second job or seeking financial aid from family for down payments. The survey, conducted by Qualtrics and encompassing 3,000 US homeowners and renters, underscores the challenges Millennials and Gen Z face in today’s housing market.

More than a third (36%) of young prospective homebuyers anticipate receiving cash gifts from family to assist with down payments, while 16% plan to utilise inheritances and 13% intend to live with relatives. Notably, two in five Millennials and Gen Zers are working second jobs to accumulate funds.

Redfin chief economist Daryl Fairweather noted the growing advantage of ‘nepo-homebuyers’. He said: ‘Because housing costs have soared so much, many young adults with family money get help from mom and dad, even when they have jobs and earn a perfectly respectable income. The bigger problem is that young Americans who don’t have family money are often shut out of homeownership. Many of them earn a perfectly good income, too, but they aren’t able to afford a home because they’re at a generational disadvantage; they don’t have a pot of family money to dip into.’

For more insights on wealth ownership, distribution and the politics that influence cross-generational spending, see The Great Wealth Transfer macrotrend report.

Strategic opportunity

Recognising the prevalence of second jobs among Millennials and Gen Z to save for down payments, businesses could offer flexible Work States Futures, such as more hybrid working, freelance opportunities and gig economy partnerships to accommodate their workforce’s financial aspirations