Technology Innovation
P2P Toolkit
A roundup of technology-driven tools that drive consumer understanding, engagement and conversion on every step of the path to purchase. Assuming you’re ready to open your MetaMask wallet, pull out some Ethereum and pay the gwei, you could be on your way to purchasing something from Campbell’s art collection of authenticated Non-Fungible Tokens (“NFTs”). Titled “AmeriCANa,” the works are by Sophia Chang, a “streetstyle” artist who has collaborated with brands ranging from Samsung, Nike and Adidas to Apple, Footlocker and the NBA. Camden, New Jerseybased Campbell Soup Co. made these signed and limited-edition digital creations available in late July to celebrate its new label design. Explaining all the whys and wherefores of NFTs (and their value as an investment) is beyond our scope. The offering’s fine print, however, gives some guidance. • Pros: You can sell, trade, donate or otherwise transfer this digital asset. • Cons: Your “right to use the content is limited ... you cannot stop people from seeing or making a print screen of your property ... and [Campbell’s] owns all legal right, title and interest in and to” all of the actual artworks. While not as prestigious as owning a 1962 Andy Warhol soup can painting (one fetched $11.8 million at auction), the upside is that all the proceeds from these Campbell’s NFTs will benefit Feeding America.
In July, Chicory, a digital shopper marketing platform for CPG and grocery brands, and PureWow, a digital media brand that specializes in women’s lifestyle content, announced a “shoppable technology and contextual media” partnership. Chicory, which recently named former Quotient exec Jason Young as its president, places its “Get Ingredients” button on more than 1,500 recipe websites and thousands of influencer food blogs. It works with CPG brands like Perdue, Kraft Heinz, Mars, Mondelez and Campbell’s, and grocery retailers like Wakefern. PureWow serves a community of 90 million website visitors content ranging from fashion and beauty to food/ recipes, travel and technology. These “in-recipe ad units” will enable brands to target specific ingredients or recipe categories, own ingredients via in-line units, pair a brand’s products within related recipe content, or utilize standalone shoppable links that instantly place items into a consumer’s digital shopping cart.
Investing has always involved risk, but in recent months the combination of social media and various technologies have made it more volatile than ever. Countless inexperienced investors have been swayed by “meme stocks” (companies being hyped through Reddit and Twitter conversations), the relative ease of investing on mobile trading services like the Robinhood app, and the proliferation of cryptocurrencies that have an aura of “minting your own money.” Well, now if you want to “go for the gold,” there’s an app for that too. In August, Oklahoma Citybased APMEX, an online precious-metals retailer, launched what it claims is the first-ever shoppable mobile app in the gold and silver industry. The app gives on-the-go investors access to more than 20,000 products ranging from platinum and palladium to Krugerands, silver dollars and even ancient Roman coins. There’s also a portfolio tool, news alerts and the ability to check live spot prices. APMEX says that it has sold more than $11 billion worth of precious metals in more than 60 countries around the world.
Bill Schober is Editor Emeritus of Path to Purchase IQ. He’s been associated with the Institute since 1994, covering all aspects of consumer marketing with a special emphasis on the shopping experience. He welcomes any questions, comments, requests or pitches about P2P Toolkit, and can be reached at bschober@ensembleiq.com.
September 2021
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