Scott Keogh, president and CEO of Volkswagen, America said today in the NYT “There’s never been a competitive consumer product that sits at 80% market share.”
Why is that? Well, if the pie is big enough, competitors will want a piece. Tesla has 80% of the electronic vehicle market right now but that is about to change. All the big girls and boys are launching EVs and want share. Which will be big fuel for the economy. From General Motors changing its logo to be more electric, to the people in charging station manufacturing, to real estate people thinking about what to do with gas stations — the EV will be one of the biggest sources of economic change we’re seen since the Model T.
I’m not a numbers nerd but I bet economists are salivating with all the models of growth to be considered over the next decade thanks to EVs.
I was at Starbucks this morning and while waiting for my grande non-fat latte, pondered the next Starbucks — the next consumable targeting a daypart behavior that will change the marketing world. The future of consumables is what brand planning and marketing planning are all about. It’s the sun in our morning.
I love the smell of consumer behavior in the morning.