Auditioning to be the Taco Bell Business School mascot [Patricia Marroquin/Moment via Getty Images] |
Yesterday’s Market Moves |
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Hey Snackers, Looking for a tomato-ey taste of what it’s like to be royal? Queen Elizabeth is said to be releasing a line of condiments, and a small bottle of Her Majesty’s ketchup could be yours for £7 ($9.50). Stocks closed higher yesterday after plunging last week. Bitcoin rose from its six-month low after falling below $33K at one point — half what it was worth at its November peak. On the Omicron front: Free N-95 masks have started landing at US pharmacies, and cases in New Jersey appear to have peaked. |
Insurance giants offer perks like Starbucks discounts and Prime subs for safe driving |
Going 50 in a 30… Forget the free cold brew. Safe drivers can now earn discounts at Starbucks through a data-sharing deal between life insurer John Hancock and car insurer Allstate. Hancock customers already earn discounts on life insurance, Starbucks lattes, and Amazon Prime subs for making healthy lifestyle choices. Think: getting 10K steps in or eating kale. Now they’ll also get perks for driving safely.
Surveillan-surance… is becoming more popular as data collection gets easier. In 2018, Hancock became one of the first major US life insurers to use personal health data to set all its prices. Today many insurers like United Healthcare, Oscar Health, and CVS-owned Aetna also use interactive systems to track and reward customers for risk-reducing behaviors. Like: jogging or getting a mammogram. |
THE TAKEAWAY |
There’s a trade-off between savings and privacy… Data-tracking programs let Hancock customers save money on insurance premiums and lattes. But those savings come at a cost — in some cases nearly constant surveillance. Critics of data-driven-pricing programs worry they could be problematic for other insurers too. Think: health insurers denying coverage to people with preexisting conditions. As connected devices increase, so will the prevalence of consumer data. |
Taco Bell opens a business school, because the most in-demand ingredient is retention |
Welcome to Taco B-school... where an MBA comes with a CGC (Cheesy Gordita Crunch). Taco Bell is launching a business school for aspiring franchisees in partnership with the University of Louisville. The six-week boot camp will train existing Taco Bell managers on financing, HR, marketing, and other topics related to running a business. TB employees who are accepted will receive scholarships to cover tuition, plus some enviable Taco B-school swag.
Taco baseball cap... T-Bell isn't the only chain to start a school for employees: McDonald's Hamburger University has been training managers and franchisees for 60 years, and California staple In-N-Out runs a university for new managers.
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THE TAKEAWAY |
There’s nothing tastier than retention… because internal marketing has never been more important. The Great Resignation is real: US job openings soared during the pandemic as workers quit for greener pastures, while employers dangled wage hikes and benefits like free college tuition to attract flighty labor. The restaurant industry still hasn’t recovered the 650K jobs lost early in the pandemic. Benefits like educational development could be the difference between shuttered chains and a thriving business. |
What else we're Snackin' |
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The Snacks Daily Podcast |
Tech stocks are down about 15% from their November peak. But we’ve been here before: The tech-heavy Nasdaq has now had 67 corrections since 1971. Tune in to hear why some say this one may be less like a bursting bubble and more like a deflating balloon. |
Tuesday |
Authors of this Snacks own: Bitcoin, and shares of Apple, Starbucks, CVS, Microsoft, and Google ID: 2005618 |
Robinhood Snacks newsletters and podcasts reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC (Member SIPC and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are for informational purposes only, and are not a recommendation of an investment strategy or to buy or sell any security, digital asset (cryptocurrency, etc) in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Robinhood Markets, Inc., Robinhood Financial LLC, or any of their subsidiaries or affiliates. All investments involve risk including the loss of principal and past performance does not guarantee future results. |