When Lemon is in the company name, like ourselves.
3 innovation and digital news in 1 minute. Every Monday. Episode 342
Lemon8 app, the TikTok sister
ByteDance is in the meantime a well-known company, the parent of TikTok and Chinese Douyin. They have pushed Lemon8 in the West, a mix of Instagram and Pinterest. In fact, it is a “copy” of succesful Chinese app Xiaohonshu — indeed a mix of IG and Pinterest with a webshop attached. Opinion: ByteDance is spreading its interest over a larger portfolio of apps. Lemon8 (based in Singapore) is one of them. Very much pushed on one media… TikTok. Returns are not that good though.
But we as Space and lemon Innovations love anything called Lemon.
The insurance app and AI behind, Lemonade. And an astonishing 2023 start!
Lemonade has pioneered direct insurance with an app and a bot. Key in the business model is both, conversational AI and a bet on insurance cases with more customer commitment (hence less fraud). Launched in the US in 2015, also available in Europe. Today an established company on the NYSE, and good Q1 results: rise in all metrics, but still a loss. Opinion: There has been doubt about the Lemonade business model, but the earning publication of Q1 2023 show very good results: 1,85 million customers (+23%), more premium per customer and a slowdown of loss ($51m). Better metrics, but still a doubt on how profitable Lemonade will be.
Lemonade, a typical pioneer with a good idea…that takes time to turn profitable.
#lululemondupe — the new duplicate wave.
They invaded the American market (then the world) for sportswear, targeted first at yoga. Today in many disciplines with “sweaty pursuit” (quote). An iconic brand and a full concept including membership, studios, training rewards. And premium price (a simple men’s short at $68). A candidate for a dupe (a duplicate). #lululemondupe is a growing hashtag and trend. Opinion: Dupes are a low price replica of a piece of fashion, a lipstick, even a perfume. It trends on Instagram, TikTok and Amazon. The trend is going wild and shops like Amazon or Temu are gaining from it. Lululemon is not a victim here, it is in a way a confirmation of their success. And they are good at retention (they call their customers “guests”).
The “original” always win. Doesn’t it?
