Social Labs Newsletter, OCTOBER 2023

Use Case: Consumption Tracking; Reflecting on Mexico’s Independence Day Celebrations; Audit Mission; Welcome Grupo Carvajal to the Social Advisors Family; Gentera Receives Silver Distinction; Grupo Bimbo Named One of the World’s Best Companies in 2023; Electrolit Launches New Products at NACS Show 2023.

|Five Minutes Well Spent

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Social Advisors Use Cases

Consumption Tracking

The goal of the Consumption Tracking mission is to provide companies with a detailed and accurate overview of their consumers' consumption habits. This tracking enables companies to better understand their consumers' needs, preferences, and behaviors, making it easier to make more customer-centric decisions related to products, services, and marketing strategies.

Consumption Tracking is widely used across various industry sectors, from consumer goods to service companies.

The Consumption Tracking mission can be applied to your business for:

• Market Segmentation: Consumption Tracking allows companies to identify different consumer segments based on their preferences and purchasing behaviors. This enables the customization of marketing messages and actions targeted to specific consumer groups.
• Product Development: By analyzing consumer habits, companies can identify opportunities to enhance and develop new products or services. This is achieved by identifying unmet consumer needs and determining which features are most valued by them.
• Pricing Strategy: Consumption Tracking helps companies understand the factors influencing consumers' pricing decisions and how they perceive product and service value. This enables more effective and profitable pricing strategies.
• Marketing Campaign Evaluation: Consumption tracking allows companies to assess the effectiveness of their marketing actions and determine which strategies are most successful in attracting and retaining customers. This enables ongoing marketing campaigns to be adjusted and optimized for better, more profitable results.

The key benefits of Consumption Tracking include:

• Gaining a deep and accurate understanding of consumer consumption habits.
• Identifying opportunities to enhance and develop new products or services.
• Improving the personalization of marketing strategies.
• Adjusting and optimizing ongoing marketing campaigns.
• Making more informed and strategic decisions across all areas of the business.

Did You Know...

Reflecting on Mexico's Independence Day Celebrations

In September '23, Social Advisors by Social Labs conducted the Independence Day Celebrations mission to gain a deeper understanding of the customs, habits, and preferences of Mexicans during this national holiday. The data gathered offers valuable insights into how this event is celebrated across Mexico. One of the most significant findings is that 40% of Mexicans view Independence Day as a show of national pride, highlighting the citizens’ strong connection to their roots and cultural identity.

Regarding celebration habits, 57% of Mexicans celebrate every year, while 40% do so occasionally, suggesting high participation, though not necessarily annual.

A surprising finding is that pozole is the most popular dish for the occasion, preferred by 87% of respondents. This emphasizes the importance of traditional cuisine as a central element in Mexico's Independence Day celebrations. Among the most consumed brands during this holiday, Coca-Cola leads with 95%, followed by Grupo Modelo at 80%, Grupo Cuauhtémoc at 49%, and Tequila Don Julio at 38%, revealing Mexicans' preference for well-known national products.

When analyzing factors influencing purchases of products or decorations for the holiday, 30% of respondents consider product quality a deciding factor. Additionally, 26% are attracted by special offers and discounts, while 20% seek affordable prices.

The typical budget Mexicans allocate to Independence Day festivities, including food, drinks, and decorations, varies. About 40% spend between $500 and $1,000 MXN, 34% between $1,000 and $2,000 MXN, 15% spend less than $500 MXN, and 11% spend over $2,000 MXN.

Finally, despite the wide range of available options, there is unmet demand for Independence Day-related products. About 71% of respondents expressed interest in finding ready-to-eat traditional foods and beverages, 17% seek high-quality themed decorations, 9% are interested in access to cultural and tourism-related attractions, and 3% look for patriotic clothing and accessories. These insights reveal the significance of Independence Day celebrations for Mexicans and how it influences their purchasing decisions. They also highlight the need for the industry to provide products and services that meet consumer expectations and desires during this celebration.

Independence Day is a special occasion when Mexicans feel pride in their country and celebrate their cultural identity. By understanding consumer habits and preferences during this holiday, companies can adapt their marketing strategies and offer products and services that meet market demands.

Platform updates

New Audit Mission

A new mission called "Audit" has been implemented to conduct field verifications and product inspections through designated auditors. Social Advisors allows specific tasks to be assigned to each auditor, including the stores to audit and the corresponding products with their respective SKUs.

During the audit process, each auditor will collect a wide range of data on each product. This data may include barcode scans, OCR, planogram positioning, prices, weights, measurements, packaging, expiration dates, comments, and additional evidence such as images, photos, audio, or video. This mission greatly increases auditor productivity compared to the previously manual process.

It has also completely eliminated the need for Excel spreadsheets to record audits, effectively reducing the possibility of errors to nearly zero and ensuring real-time data integration. Additionally, Social Advisors automatically generates a comprehensive set of fundamental analytics for optimal analysis and understanding of the audit mission results.

Client News

Welcome Grupo Carvajal to the Social Advisors Family!

We are incredibly proud to welcome Grupo Carvajal to our valued Social Advisors client family.

Grupo Carvajal is a multinational company specializing in the design, production, and distribution of sustainable, innovative, and customized packaging solutions for industrial, food service, and household markets.

At Social Advisors, we greatly appreciate the trust that Grupo Carvajal has placed in our Social Advisors Platform to generate high-value, customer-centric business insights. (Link)

Gentera Receives Silver Distinction

Gentera has earned the Silver Distinction under the Mexican Standard NMX025 Certification in Workplace Equality and Non-Discrimination. "We create safe and inclusive spaces to generate Total Value." (Linkedin)

Grupo Bimbo Named One of the World’s Best Companies in 2023

CONGRATULATIONS GRUPO BIMBO! Our client, Grupo Bimbo, has been recognized by TIME magazine and Statista as one of the World’s Best Companies in 2023. (Linkedin)

Electrolit Showcased New Products at NACS Show 2023

Electrolit unveiled new products at the 2023 NACS Show in Atlanta, GA, including Electrolit Powders and the Zero-format flavors Blue Raspberry and Strawberry Banana. (Link)

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