In 2018 the insurance sector spent nearly $79 million in New Zealand on advertising to reach potential insurance buyers. Whether it is car, contents, house, life, medical, travel or other insurance, 2,861,000 New Zealanders aged 20+ hold at least one insurance policy.
While the 2018 census data isn’t due for release until 2019, marketers should be prepared to answer two key questions - “are we adjusting to the changing needs of our target market? and how do we acquire new customers that are gaining relevance in NZ?”
Consumer trust is crucial for e-commerce growth. Trust includes many aspects for shoppers to feel comfortable in selecting the crucial “add to basket” button. For example, shoppers need to be sure they are purchasing genuine products, that what they purchased will arrive safely on time and in good condition, and that the payment is secure.
As companies look to break into new markets, they must understand that each market demands its own approach. In burgeoning sustainability markets, however, natural and organic are paving the way for more detailed and specific claims.
Seasonality has a huge impact on OTC sales performance, and although it varies by category, 60% of sales are subject to this. We, of course, associate summer with hay fever and allergies; however, lots of other categories also enjoy the seasonal uplifts that come with summer.
The news that Amazon is coming to Australian shores has the local retailing community set for something of a shake-up; and the pharmacy sector is not immune to the imminent disruption. In January 2017, 38% of Australians were aware of a potential Amazon launch, this increased to 47% by March 2017.
Winter and spring 2016 was one of the wettest periods Australia has seen for a number of years. The rainy weather also triggered a rise in allergy and hayfever remedies which increased by 3.3% on last year’s allergy season.
Over the past year, growth in the pharmacy channel has moderated substantially - to just below 1%. However, strong performance in other, smaller pockets of the store - including infant formula and cosmetics - signals positive future growth prospects in pharmacy.
Australians are willing to take to the seas with more than half (55%) considering going on a cruise. Strong growth in advertising spend from cruise operators is driving consumer enthusiasm, but questions have been raised as to whether Sydney’s infrastructure can support demand. If tour operators pull Australian ports from their routes, the current trend in advertising growth could face a sudden change in course.
China, with its huge population and increasing affluence, is a very lucrative market for companies and brands in the Pacific. The Demand Institute, projects that consumers in China will spend $56 trillion over the next decade, with a largely young, affluent, connected consumer base with disposable incomes leading the charge.
In recent years, Australian retailers have increased their efforts in maximising the opportunities particular events and holidays can bring. In pharmacy, however, much of the channel seasonality appears to be driven by factors such as weather.