LSN : News : Need to Know 17 : 01 : 18

1. Fine dining restaurant Bob Bob Ricard serves off-peak pricing

Bob Bob Ricard, London

London – Known for its champagne call button on every table, high-end eatery Bob Bob Ricard is trialling a dynamic pricing system that offers the same dishes for less during off-peak hours. Meals served during Monday lunchtimes, for example, will be discounted by 25%, while mid-peak periods such as dinner on Tuesdays and Sundays will be priced at a 15% discount.

Owner and founder Leonid Shutov explains that the initiative takes its lead from the travel industry. ‘Airlines wouldn't be able to exist, the business model wouldn’t work unless you could balance supply and demand,’ he told Bloomberg.

Restaurants are increasingly facing competition from the home delivery sector, as consumers prioritise convenience above all else. There is still an appetite for eating out, however, as explored in our Eating In and Dining Out Market – provided restaurants can learn to adapt to the evolving needs of their customers.

2. Alibaba extends its sphere of influence into the real world

Alibaba

China – Following the opening of Alibaba’s technology-enabled chain of supermarkets in 2017, the Chinese mega-system is further infiltrating bricks-and-mortar retail through partnerships with the country's local convenience stores.

The conglomerate has launched Ling Shou Tong, a new retail-management platform that it is offering to all mom-and-pop stores as a means of optimising product procurement and boosting sales.

The app makes recommendations about what to stock and how to display the items most effectively based on data analytics. In addition, store owners can use the app to place orders for items, which will then be shipped directly from Alibaba’s warehouses. Despite the popularity of e-commerce in China, 85% of the country’s retail sales are made offline, according to Reuters. By expanding its reach into physical retail, Alibaba hopes to bring the convenience of online retail offline and build a fuller picture of what consumers want.

Find out more about the seismic changes occurring in retail worldwide here.

3. Photography brand Kodak launches its own cryptocurrency

US – The new token, KodakCoin, is designed to operate within the new rights-management platform KodakOne, which promises to ensure photographers are instantly remunerated every time their work is used.

The platform will act as a digital ledger through which creatives can license their images. ‘For many in the technology industry, blockchain and cryptocurrency are hot buzzwords, but for photographers who have long struggled to assert control over their work and how it is used, these buzzwords are the keys to solving what felt like an unsolvable problem,’ says Kodak CEO Jeff Clarke.

Such is the hype surrounding cryptocurrencies at the moment that Kodak’s share price doubled a day after the announcement.

KodakOne platform and KodakCoin cryptocurrency

4. Gucci works with Dapper Dan for Harlem atelier

Dapper Dan Harlem Atelier by Gucci, New York

New York – Following accusations of intellectual property infringements against Dapper Dan’s Boutique, Italian fashion house Gucci has announced that it will officially work with its founder Daniel Day, aka Dapper Dan, on the brand’s new Harlem atelier.

An homage to the boutique, which no longer exists but gained prominence during the 1980s, the retail space will offer customers bespoke Dapper Dan of Harlem garments made using Gucci fabrics, prints and embroidered patches.

‘Everyone paid homage to Dapper Dan, but no one ever paid him,’ said Day in a statement. ‘The people have spoken and Gucci has listened. Nothing has been more significant in the Harlem cultural scene than Alessandro and Gucci coming to Harlem and partnering with Dapper Dan.’

Through collaborations with influencers such as Dapper Dan and its recent holiday campaign with Spanish artist Ignasi Monreal, Gucci demonstrates how luxury brands can remain relevant for young affluent consumers.

5. Adverts during tv streaming linked to unhealthy eating

New research from Cancer UK and YouGov illustrates the correlation between tv ads and unhealthy eating. The study, which surveyed more than 3,000 11–19-year-olds, found that those watching ad-funded streaming platforms were 65% more likely to eat more ready meals than those who streamed less tv. As consumer concern over obesity grows, brands need to consider their sense of civic responsibility in tackling this widespread problem.

6. Thought-starter: Does CES still showcase innovation?

With a power outage at this year's CES, Foresight editor Daniela Walker questions whether there is still innovation to be found at the show.

For two hours last Wednesday part of the Las Vegas Conference Centre was in lockdown. Why? Because the world's largest technology show had experienced a power cut.

The irony is clear. At a show that has laundry-folding robots and pneumatic breathing pillows to help you sleep, where were the innovations to prevent such outages?

My number one comment to exhibitors throughout CES was: that's neat, but what need does this fulfil? And yet, amid the oddities there were some ideas that did show real innovation. There was the partnership between Philips and America Well which will help anxious parents diagnose sick babies at home. And the computer vision company Poly, which is trying to turn all convenience stores into seamless, Amazon-like experiences.

And so, with that in mind, we have compiled the best of the best – the ideas and products on show at CES 2018 that we feel accurately respond to consumer needs.

Read the list here.