This Week’s 5 Must-Read Stories You May Have Missed
Beyond Meat partners with HelloFresh, customers face 10 digital banking shutdowns a month and JBC rolls out a new electric digger.
We caught up with our columnist, business transformation expert, author of The Interim Revolution and founder and CEO of Sullivan and Stanley, Pat Lynes, to discuss the biggest news stories you wouldn’t have wanted to miss last week.
1. Beyond Meat lands partnership with HelloFresh in the US
Plant-based protein company Beyond Meat, which produces vegan meat substitutes has announced a partnership with HelloFresh. Included as part of HelloFresh’s meal kit, the Beyond Burger will be available in the US from 14th September. This is Beyond Meat’s second partnership in the last couple of months, after announcing it would be working with Blue Apron, a competitor of HelloFresh.
As the appetite for vegetarian or vegan alternatives ramps up, more and more brands are creating or partnering with brands which are built on this trend. We only need to look at the likes of Doc Martin and Greggs who have seen their profits and share prices increase, following the introduction of vegan ranges. As it’s still a fairly new space, it will be interesting to watch its evolution.
2. Apple to spend more than $6 billion on original content
Apple joins the streaming war, expecting to spend $6 billion on original content including TV shows and films for its upcoming Apple TV+ service, according to a report by The Financial Times. The bold move will see Apple compete with the likes of Netflix, Amazon, Disney, HBO and Hulu.
Rumours suggest that Apple TV+ will launch in November and will be available for $9.99 a month. As the streaming landscape is becoming more crowded, Apple will need to continue innovating its offering to get a competitive foothold in this space.
3. Shareholder value is no longer the main focus
A Business Roundtable, made up of the heads of nearly 200 US companies, have outlined their commitment to change the business world’s mindset and change the purpose from maximising shareholder value. Instead, they want to focus on delivering value to customers and investing in employees beyond financial compensation, to promote learning, as well as “diversity and inclusion, dignity and respect.”
It’s great to see the leaders at the top starting to think about the bigger picture. The world is constantly changing, meaning customers and employees alike are evolving too.
4. Customers face 10 digital banking shutdowns a month
According to new figures, bank customers are facing on average 10 digital banking shutdowns a month. The BBC further revealed that major banks suffer more than 10 outages a month, with Barclays topping the poll in the past year and RBS/NatWest having the most issues in the last three months.
One of the biggest problems traditional banks face is their outdated legacy technology stacks. These systems, which are prone to meltdowns, take time and money to transform and as a result, the customer experience is impacted. This is why challenger banks are coming in and massively disrupting this unsteady market – it was really only a matter of time. For banks to survive, they need to start putting transformation and innovation into new technology-led solutions.
5. JCB rolls out a new electric version of its iconic yellow digger
JBC made an industry breakthrough in manufacturing as it uncovered its new electric yellow digger. This new model, which is produced in its Derbyshire factory, has already received orders across Europe and North America.
The machine remarkably only takes a maximum of two hours to full charge and is five times quieter than its original diesel version. As more people and businesses become more aware of their environmental mark, it’s positive to see JCB get on the front foot and lead the charge.