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NEHI names winners of 2014 Innovators in Health award

BY Michael Johnsen

BOSTON — The Network for Excellence in Health Innovation on Monday announced the recipients of its 2014 Innovators in Health award. The awards recognizes individuals whose work reflects the spirit of NEHI and embraces the mission of improving the quality of health care and reducing costs for patients and their families. 
 
This year’s honorees are:
 
  • Margaret Hamburg, commissioner of the Food and Drug Administration for her lifetime of achievements in meeting public health challenges and ensuring the health and safety of the American public;
  • Rebecca Onie, CEO Health Leads, for her pioneering work to incorporate social needs such as food and housing into the healthcare delivery system; and
  • James Park, CEO Fitbit, for making public health a priority in his entrepreneurship by marrying fitness to technology to reach millions of people through innovative products.
 
“NEHI is proud to honor these exceptional individuals who are dedicated to transforming the healthcare system through innovation,” said Wendy Everett, CEO of NEHI. “Their work reflects our own mission to identify and speed adoption of innovations that improve the quality and lower the costs of health care, and improve people’s lives.”
 
“CVS Health is pleased to join NEHI in honoring these three individuals who have truly embraced innovation to help advance health care,” said Troyen Brennan, EVP and chief medical officer of CVS Health, who is to present the award to James Park. “Our purpose is to help people on their path to better health, and we are honored to be an active member and supporter of NEHI as the organization continues its focus on enabling innovation to improve health care quality and reduce costs.”
 
The honors are to be awarded at a dinner ceremony on Oct. 8 in Boston.
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Tony West tapped for EVP role at PepsiCo

BY Ryan Chavis

PURCHASE, N.Y. — PepsiCo announced that Tony West has joined the company as EVP of government affairs, general counsel and corporate secretary, effective Nov. 24. He succeeds Larry Thompson, who is retiring. 
 
West joins the company from the U.S. Department of Justice where he was the associate attorney general of the United States. In his new position, West will be responsible for the company's legal function and government affairs organization, as well as its global compliance function. 
 
"Tony is a tremendous addition to the PepsiCo management team," said PepsiCo CEO Indra Nooyi. "He is a world-class leader who brings a strong set of skills, experiences and values to PepsiCo. We will benefit greatly from Tony's leadership and expertise."
 
Early in his career, West served as assistant United States attorney in the northern district of California. He also served as a state special assistant attorney general in California and was a litigation partner at Morrison & Foerster in San Francisco. 
 
West graduated with honors from Harvard College and received his law degree from Stanford Law School. 
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PwC: Cautious shoppers to spend an average of $684 this holiday season, down 7.5% from 2013

BY Michael Johnsen

NEW YORK — The 2014 holiday shopping season will be characterized by cautious spending, while economic realities create one of two American holiday shoppers — survivalists and selectionists — according to a new report released Tuesday from PricewaterhouseCoopers U.S. and Strategy&, titled "2014 Holiday Outlook: Top trends, consumer behaviors and implications for retailers."  The report was based on a survey of more than 2,000 shoppers nationwide.

“The upcoming holiday shopping season will look very similar to 2013 as shoppers remain cautious on the economy and are concerned about disposable income, the rising cost of living and insufficient salary, leading surveyed participants to project an average household spend of $684, down from $735 in 2013,” stated Steven Barr, PwC’s U.S. retail and consumer practice leader. “The spending divide among shoppers is widening, creating two distinct groups that we are tracking – survivalists and selectionists – and retailers must cater to both segments. And with shoppers coming to expect a seamless omnichannel experience, deals to woo them into stores and having no tolerance for another season of data privacy invasion, it’s a complex retail landscape that retailers need to master – or they risk losing loyal shoppers.”
 
PwC and Strategy& outlined 10 trends that are expected to drive the 2014 holiday shopping season:
 
  1. Shoppers express strong overall concerns about holiday shopping, as they remain cautious on the economy with 72% believing a same or worse environment when compared to the year before. And these shoppers are reluctant to increase spending, as 84% plan to spend the same or less than in 2013. The key economic drivers influencing their holiday shopping decisions include: limited disposable income (64%); the rising cost of living (61%); and insufficient salary (37%). As a result, household spend levels are projected to slightly decrease in 2014;
     
  2. The 2014 holiday shopper is segmenting into two distinct groups: survivalists and selectionists. Survivalists – those generally making under $50,000 per year – represent 67% of American shoppers (up from 65% in 2013 and 63% in 2012). They are constrained by daily cost of living and apply the lens of affordability to all purchases. The average household holiday spend for this group is $377. Selectionists – those generally making more than $50,000 per year – represent 33% of American shoppers (down from 35% in 2013 and 37% in 2012). They make careful decisions based on their disposable incomes. This group’s average household holiday spend in 2014 is $978;
     
  3. Spending drivers are clearer than ever this holiday season. As many as 84% of shoppers cite best prices as the main reason for choosing a place to purchase gifts (up from 74% in 2013). Deals rank second, with 43% of shoppers saying they will shop based on frequency and quality of seasonal deals. In addition, the share of online will continue to grow as shoppers seek convenience and value. Half of the spending is projected for physical stores (down from 55% in 2013), with 43% of spending done online (up from 42% in 2013). Almost 60% of spending will be on gift cards, the hottest category next to clothing this year;     
     
  4. Expect more channel fragmentation as shoppers budget for not only dollars, but their time. Giving consumers the right omnichannel experience is essential. That means allowing shoppers to move easily across channels, giving them many options to choose and buy, while providing retailers visibility into inventory and pricing. Omnichannel has come of age this holiday season and 2014 could be the turning point when consumers make online pre-planning an integral part of their holiday shopping tradition. As many as 41% of shoppers plan to increase online spend in 2014 over 2013. This season, three distinct omnichannel shopper profiles will emerge: tradeoff shoppers (39%) will shop around extensively and buy online if it’s cheaper; transitionalists (29%) will shop online a bit, but generally prefer traditional stores; and digitalists (32%) will make online the “go to” channel for most discretionary and planned shopping;     
     
  5. It will be important to understand the cash/credit position of shoppers during the entire season. Spending will be concentrated during four periods: pre-Thanksgiving, Black Friday, Mid-Holiday and Post-Holiday. The 2014 holiday shoppers are planning their holiday spending in four very distinct waves. Wave one includes the early holiday shoppers, where 21% of all holiday spend will occur from now through the Thanksgiving weekend. Survivalists plan to spend $86 in this wave, while selectionists plan to spend $202. Wave two encompasses the Black Friday period – 21% of spend will occur over the week of Black Friday. Survivalists plan to spend $84 in this wave, while selectionists plan to spend $205. Wave three includes the mid-season spending frenzy, where 50% of the holiday spend will happen between Thanksgiving and Christmas with a significant portion of that spend in the last ten days before Christmas. Survivalists plan to spend $184 during this period, compared to $489 for selectionists. Wave four is post-season deal seeking, with 8% of holiday spend projected to be after the holidays as shoppers continue their “affordability” journey. Survivalists plan to spend $23; selectionalists plan to spend $83. Getting promotions well-timed and relevant to shopper spend profiles is critical;
     
  6. The 3 S's of shopping — searching, showrooming and selection — have become permanent. A new Thanksgiving ritual of shoppers going online to prepare their “holiday shopping plan” has emerged and may be the most significant shopping pattern change this season. As affordability and disposable incomes become major considerations, there will be a lot of planning around where and what to buy and how much to spend over the Thanksgiving weekend. Almost half of shoppers plan to search, showroom and purchase on Thanksgiving morning. And 50% of all shoppers plan to shop during Thanksgiving/Black Friday to grab the best deals. The “early bird tradition” continues with 75% of Black Friday shoppers going to stores. The Black Friday channel choices of these shoppers include mass merchants (80%), department stores (68%) and major online retailers (70%);
     
  7. Shoppers are clear about what they will spend their holiday dollars on, making it critical for retailers to differentiate within those categories. These five categories are at the core of the holiday 2014 wish list for both survivalists and selectionists: everyday clothing (61%), gift cards (58%), traditional toys (39%), personal electronics (36%) and media and entertainment (31%);   
     
  8. Shoppers recognize that experiences are beginning to count just as much, or more, than gifts. Holiday family get-togethers and family occasions will continue to grow in importance. Thanksgiving dinner tops the list of 2014 holiday eating occasions with 76% of Americans planning some type of celebration (up from 68% in 2013). Christmas and Hanukkah celebrations are second, with 73% of America celebrating (up from 69% in 2013). Family and friends’ in-home parties rank third in holiday celebrations, with 53% of America celebrating (up from 46% in 2013). Out-of-home formal parties are projected to drop to 32%, down from 41% in 2013, as Americans return to entertaining in the home. Spontaneous get-togethers are projected to increase as Americans (especially millennials) celebrate the holidays. According to the report, millennials may well value experiences over gifts; 50% will celebrate the season with holiday events;
     
  9. Shoppers plan to shop at multiple stores as well as websites. Mass merchants, department stores and major online retailers are at the top of their planned destinations. The 2014 holiday shopper will “travel” to stretch every dollar. For survivalists, 53% plan to visit two to three stores/sites and 23% plan to visit three to four stores/sites. For selectionists, 47% plan to visit two to three stores, and 28% plan to visit three to four stores; and
     
  10. Retailers have significantly upped their game in planning for and investing in improved in-store and omnichannel experiences. In addition, extensive weather planning is part of ensuring holiday success. Unlike last year, if bad weather comes, retailers are more prepared to deal with wintery conditions by having beefed up their omnichannel capabilities.  Online transactions will replace in-store visits and retailers will be ready to manage the high volume of transactions, providing the customer service and convenience shoppers desire. In addition, in-store retailing is expected to turn holiday shopping into a much more memorable and entertaining experience for shoppers with the additions of cheerful décor, popular music, artisan foods and kid-friendly attractions. Further, efficiency and smart logistics will be key to ensuring a hassle-free experience for shoppers who do visit stores. Expect to see retailers roll out efforts such as traffic engineering, parking assistance, valet services and shuttles from transit stops.
“With consumers having ever higher demands for their shopping experience – no matter the channel – we conducted this survey to better understand how retailers can meet the needs of their shopping habits this holiday season," Barr said. "What we learned was that to compete effectively at retail this year, it demands a new level of organizational and operational excellence."
 
"2014 Holiday Outlook: Top trends, consumer behaviors and implications for retailers" was commissioned by PwC and Strategy& and conducted online by an independent research organization between July and August 2014. The survey polled more than 2,200 consumers nationwide, spanning all demographics and income levels.  This survey is projectable to the entire U.S. population.  
 

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