Alternative Data from NIQ
This month features insights on: Paramount+, Samsung, Cisco, Revolve Group, Hershey, Netflix, Etsy, Roborock and MediaTek
Paramount+ (PARA): NielsenIQ has monitored increased activity on Paramount+ due to their streaming of the NFL Postseason. CBS held the exclusive broadcasting rights to both the AFC Championship on January 28th and Super Bowl 58 on February 11th. Paramount+ therefore offered live coverage of both games to active subscribers, capitalizing on a consumer base that has moved away from cable TV. Sign-ups spiked prior to the start of the AFC Championship game and again before kick-off of Super Bowl 58. However, subscriber retention was underwhelming as cancellations spiked following the Kansas City Chiefs victory in Super Bowl 58.?
Samsung (005930.KS): While GfK data has shown a significant improvement for global entry-level demand in 1Q24, Samsung’s Galaxy A series demand remains weak y/y despite the earlier ramp of the latest generation models.?In large part this is because Xiaomi and Transsion have captured significant entry-level share in key emerging markets. These lackluster trends for Samsung’s low-end are anticipated to persist through the remainder of the first half of the year.
Cisco (CSCO): The GfK-tracked Networking market has hit four-year revenue lows through early APR, dragged largely by a slowdown for Enterprise Switches, a communication device segment which saw immense strength in 2023. Key companies such as CSCO are also facing further headwinds due to inventory digestion at their customers, exacerbating the negative impact of slowing demand.
Revolve Group (RVLV): Revolve referenced 2023 as a successful year in processing volumes via its East Coast fulfillment center as the company shifted to AI-assisted inventory rebalancing and improving logistics costs. Using NIQ’s comprehensive shipping data, we can follow this trend closely. Alongside its orders-based receipt data, NIQ also collects corresponding shipment emails from which it extracts numerous fields covering shipping/delivery times, location data, and shipping method where available. Revolve order fulfillment shifted from west coast operations to east coast for an increasing percentage of orders, beginning around June 2023.
The Hershey Company (HSY): Cadbury, one of the top brands from The Hershey Company, experienced annual spikes on its sales volume during Easter. According to NielsenIQ Retail Measurement Services (RMS), the brand carries a total of 42 items, with 35 of them relevant to Easter. Some of the items with the highest sales by week are Cadbury Crème Eggs with Soft Fondant Center 4pk 1.2oz, Cadbury Mini Eggs Milk Chocolate Easter Candy 9oz, etc.
This data set reflects only NIQ’s US RMS read, not our global RMS data where Cadbury is a Mondelez brand.
Netflix (NFLX): New Netflix (NFLX) subscriptions from partner programs (e.g. T-Mobile (TMUS) offering a complementary Netflix subscription to mobile plan holders) have reduced substantially in Q1 2024. From 2022 – 2023 partner subscriptions accounted for 8-10% of total Netflix subscriptions. By the end of Q1 2024, the share of partner subscriptions stood at only 2%.
领英推荐
The decline has largely been driven by T-Mobile’s January 2024 plan changes which reduced mobile plan holder’s Netflix benefit from an ad-free tier to an ad-supported tier. Despite a new partner offering from Verizon (VZ) launched in December 2024 which provided a temporary boost near the plans launch, overall Netflix subscriptions through partner programs remain at historically low levels.
Etsy, Inc. (ETSY): NielsenIQ has been tracking high discounts for ETSY. In February, Monthly US Average Discounts increased both MoM and YoY. There has been a lot of discussion lately by Etsy on discounting. In the last Morgan Stanley Technology, Media & Telecom Conference call, they mentioned that the popularity of Temu signifies a change in the “sign of the times” as being one focused on getting “deep discounts on essentials.” They argued that, on the contrary, orders made on Etsy are for “highly considered purchases” for special occasions. Pricing pressure does still seem to be prevalent for the merchant though, given the continuously high YoY growth of US Average Discounts (44.1% this past February). Despite discounting increasing, NIQ’s monthly Global Order Index growth rate in February 2024 (-5.2%) was the lowest YoY since April 22 (-6.4%).
Roborock (688169.SS): Roborock, alongside its private competitor Dreame, has been gaining significant Robotic Vacuum Cleaners (RVC) share across most global ex-NA regions. In particular, momentum for Roborock's premium S series benefitted the company’s revenue and its share within the premium segment in global ex-NA ex-China regions. Trends are likely to continue for Roborock, with share gains to potentially accelerate y/y as its new mid-range P10 series received great success in China.
MediaTek (2454.TW): GfK data indicates that MediaTek's channel inventory has continued to rise when comparing sell-in to sell-out. MediaTek is gaining share and benefitting from strength in emerging markets, including Transsion's rapid growth, though GfK does not expect demand to match sell-in. This should lead to a future correction.
Get Insights Delivered to Your Inbox ??
Consumer Intelligence for Financial Firms
NielsenIQ provides hedge funds, investment banks, asset managers, private equity investors and venture capitalists with a complete and actionable understanding of the evolving global, omnichannel consumer.
Whether through data feed, desktop or syndicated reports; NIQ’s connected insights, and predictive analytics help you understand what’s happening now, what’s happening next, and how to best act on this knowledge.