What Taylor Swift and Oasis can teach us about the economy

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Business Thinker

Deep dives on business and leadership

By Josh Dornbrack

?? What Taylor Swift and Oasis can teach us about the economy

As Taylor Swift’s Eras tour and the upcoming Oasis reunion tour dominate headlines, their contrasting economic impacts reveal shifting dynamics in the music industry. Andy Haldane, the former chief economist at the Bank of England, explores how these tours reflect broader trends in the global economy including inequality, sentiment-driven spending and the power of narrative economics.

?? Why loyalty programmes fail

Successful loyalty programmes prompt desirable customer behaviours, keep people engaged and generate a high ROI. Underperforming programmes suffer from issues such as poor economics, lack of customer insights and low engagement. Six techniques can help retool an underperforming programme, including drawing an accurate profile of customers, devising a compelling hook, building community and partnering with others.

?? Why companies should consolidate tech roles in the C-Suite

Recently, some organisations have begun to recognise the downside of C-level proliferation and decided to consolidate senior technology and data roles. These individuals – referred to as “SuperTech” leaders – are most likely to be known as chief information officers, but they also have broad responsibility for data and technology functions, and many also have operational responsibilities within the business. Leaders of speciality tech and data functions (data, analytics, AI, cybersecurity) report to them. Establishing SuperTech leadership roles will bring clarity and accountability to organisations’ digital transformation initiatives.

Business Agenda

A summary of the most important business news

By Graham Ruddick

1. The asking price for new houses being put up for sale has risen by 0.8 per cent month on month, according to a new survey by Rightmove. This survey is the latest data to indicate that activity in the housing market is picking up. More here.

2. Plans to scrap inheritance tax relief on companies listed on Aim could slow the progress of fast-growing businesses, according to a story in The Times here.

3. A group of economists has warned the Labour government that the “foundations of the economy” could be hit by plans to cut public investment. Financial Times story here.

4. From the weekend papers, an interesting look inside the success of clothing retailer TK Maxx by The Sunday Times. “TJX, the American giant behind TK Maxx, has exploited gaping inefficiencies in the fashion industry’s buying operations to build one of the world’s most successful retailers,” it says. You can read the piece here.

5. Lastly, check out this interview with Ted Sarandos, the co-chief executive of Netflix. “You are trading off constantly, all the time. So, this mission to find the perfect work-life balance, I think, is a fool’s errand,” he told The Sunday Times. You can read more here.

Business Question

According to analysis from BANC, Google searches for "sustainable brands" have risen by what percentage between 2013 and 2023?

A. 588 per cent
B. 846 per cent
C. 1,010 per cent
D. 1,469 per cent

The answer can be found at the bottom of the page.

Business Quote

Inspiration from leaders

“When you start to improve yourself, loneliness is the price you pay.”

– Anonymous

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