Insights from The Hottest Retail Churn Market in the World, & the Innovations Driving It.
by Nigel Broomhall
The New Zealand electricity market is the hottest retail electricity market in the world, And the innovations being developed and coming out of this market are relevant for all electricity markets in the world. NZ retail innovations have been deployed into the Australian market, and are being implemented into the UK. And it's not just the shiny new market entrants that are gaining market share - the second fastest growing retailer in 2016 was a large incumbent.
As baseload demand remains flat, and even declines in developed countries throughout the world, retail is a key area to generate future value. But it's no easy road. This 58 page paper examines 14 market innovations that were executed in the NZ market in 2016. We dive into each innovation/tactic, assess the key elements, and provide pragmatic strategies and tactics for incumbents and new entrants to either embrace or attack them. All written from the perspective of someone with deep hands-on experience from running retail teams, and working across the entire electricity industry.
INNOVATIONS EXAMINED:
Fast Moving Consumer Good | Wholesale+ | Adjacent Product Offers | Free Power | Bundling | Niche Market/White Labelling | Loyalty Points | Sustainability | Targeted Prompt Payment Discount | Friend Get Friend | Parochialism | Prize Draws | Cash Incentives | The Carpet Bomb
NZ RETAILERS PROFILED:
Contact Energy | Ecotricity | Electric Kiwi | Flick | Genesis Energy | King Country Energy | Mercury | Meridian Energy | Pulse Energy | Powershop | Trustpower
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