The past year has been a whirlwind for many brands as they readjusted their marketing efforts to keep up with the changing landscape. One such brand, direct-to-consumer (D2C) company Peace Out Skincare, learned to be more nimble as it navigated a then-emerging platform TikTok and the Gen Z customers it caters to.
Over a third of US adults don’t use mobile payment systems
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In the US,
37% of adults don’t use mobile payment systems, but among those who do, one has a commanding lead:
39% of US adults use
PayPal, while only
The Weekly Listen: Augmented reality and the future of marketing, buy now, pay later evolves, and decision fatigue
May 14, 2021
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The Weekly Listen: Augmented reality and the future of marketing, buy now, pay later evolves, and decision fatigue
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On today s episode, we discuss whether augmented reality is the future of marketing, how Clubhouse launching on Android can help the social audio platform grow its user base, how much the pandemic changed boomers online behavior, whether buy now, pay later can move beyond retail, how to help people find something to watch on Netflix, how to swim up in the sky, and more. Tune in to the discussion with eMarketer analysts Nina Goetzen and Daniel Keyes, and principal analyst at Insider Intelligence Jeremy Goldman.
Chime to stop calling itself a ‘bank’ to settle legal action
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US-based neobank Chime will no longer refer to itself as a bank after it agreed to a
settlement with the California Department of Financial Protection and Innovation. The regulator took action against the US neobank in 2020 because it doesn’t have a state banking license. The settlement calls for Chime to add clarifications about its operations to its website and advertising by May 15. Moving forward, Chime will state that it is a fintech and that it partners with outside banks to provide its offerings.
Some of the neobank’s licensed competitors argue that their licensing helps bolster their reputations, which would also come with the ability to offer deposit products without needing to partner or share revenues with a sponsor bank. Green Dot CEO Dan Henry
U.S. Bank tests branches geared for a digital-first era
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U.S. Bank has made a series of overhauls to branches in the Twin Cities region of Minnesota to reposition physical banking as digital channels eat away at its usage,
per the Minneapolis/St. Paul Business Journal. The latest example, a renovated concept branch in Eden Prairie, features self-service stations with digital devices instead of tellers. Branch employees will instead help customers with services including technology assistance, lines of credit, and wealth management. U.S. Bank began rolling out these concepts last fall.
The concept branches let U.S. Bank test ways to pair physical banking with the digital-only channels that are displacing it.