Really interesting article! Thanks for sharing! One piece of this that jumps out to me is the focus on marketing and customer engagement. I wonder, in a world where other apparel retailers offer similar omni experiences, does Burberry successfully differentiate itself through these digital initiatives, or are the digital efforts the new table stakes for competing in the space?
Additionally, where can Burberry go from here? Players like Amazon are entering full force in the space and developing their own private labels using many of the techniques described here with the backing of a strong tech foundation.
Will the brand image be able to prevail? How will the brick-and-mortar footprint adapt to adjust to the dynamic retail marketplace as the industry shifts to embrace digital over time? As a premium brand, how will Burberry balance the old-school, traditional history with the need to attract younger customer segments used to digital-first strategies?
Clearly, the company has navigated the transition well and is implementing unique and creative digital solutions. It will be interesting to see how these offerings continue to evolve as competitors catch up.
Great article! Thanks for sharing! I wonder how Coursera and similar platforms will change the nature of higher education. I know institutions such as MIT are already posting all lectures for some courses on public forums for individuals to have greater access to quality education.
While it may be difficult to have MOOCs fully replace universities on their own, there are significant implications for public education, the rise of flipped classrooms, and the need to fundamentally rethink what it means to have higher education. Will employers begin recruiting individuals with certifications that never attended class in a physical university? Will these certificates carry the same weight as a diploma?
Furthermore, this could have major implications for the issue of student debt in America. With so many young people accruing loans which take decades to pay off for their higher education, something like Coursera’s offering becomes increasingly attractive.
Of course, this also leads to tradeoffs related to the university experience. Are there ways to mirror or replicate the social experience of college which enables personal growth? Is there a difference between liberal arts and STEM degrees on these platforms? How does performance change the nature of recruiting for employers? These questions highlight the disruptive nature of Coursera’s offering which may change education worldwide in the years to come.
Thanks for a great article! Another wrinkle to consider here is how the privacy rights extend across geographies and regulatory environments. I imagine that each country of operation has varying levels of privacy requirements and restrictions. Compliance can be costly for a company with already high variable costs such as 23andMe.
Furthermore, the healthcare and genetic information nature of this offering subjects it to even more restrictive policies. While much of the value can come from unlocking the genetic information and data users provide, there may be direct tradeoffs and competing incentives for customer satisfaction with privacy standards, political regulation of similar products and companies, and VC or other investor incentives.
Working in the healthcare space, I know how cumbersome it can be to overcome legal regulations intended to protect consumers. Together, legal challenges, lawsuits, compliance monitoring, and even lobbying may increase the company’s risk profile significantly in the years to come, independent of customers’ reactions to privacy issues.