Well, this is not like winning a $100 million lottery. However, it is a good sum of money for [most of] us to have to spend. As marketers, we’d like to know if answers to this question differ by age group.
According to recent research by Harris Interactive, as reported by eMarketer:
“2014 polling by Harris Interactive asked US internet users what they would do if they won the lottery or received an inheritance of $100,000 and found that 18-to-36-year-old respondents were most likely to pay off any existing debt or loans if they were to get so lucky. Millennials were also relatively likely to save the money for a rainy day fund or unexpected expenses, cited by 43% of respondents from that age group. However, they weren’t so hot on planning for retirement, with around one-quarter saying they would do that with the money. This was on par with 18- to 36-year-olds using the $100,000 for big purchases: 27% said they would buy a house, while 25% would get a car.”
Click the chart to read more.
As we have reported before (click here, for example), online retailing remains strong both in the United States and around the world.
Here is an infographic from SnapParcel, an Ireland-based courier service, that looks at the evolution of E-commerce in the United States and around world. As Multichannel Merchant reports, global online retail sales have increased by 17% annually since 2007.
Procter & Gamble, the long-time world leader in consumer products and the leading global advertiser, is ready to embark on another new strategy. It has tried many tactics in recent years to try to stimulate company growth and profits.
P&G’s latest approach may seem counter-intuitive — to grow by shrinking its brand portfolio. However, this idea does seem on target and reflects the essence of the Pareto 80/20 Principle that relatively few products account for a disproportionate amount of sales and profits.
As reported by Rachel Abrams for the New York Times:
“After years of expansion into areas like pet food and beauty products, Procter & Gamble announced that it would cut as many as 100 brands from its arsenal to focus on others, like Tide, that made the company a powerhouse over the decades. The move is part of a strategy to improve the company’s financial performance by doubling down on about 80 brands that generate 95 percent of the profits and 90 percent of sales, according to A. G. Lafley, the firm’s chief executive. The company, and the industry at large, have faced pressure as consumers continue to spend less than they did before the financial crisis.”
[According to Lafley,] “‘This new streamlined P&G should continue to grow faster and more sustainably, and reliably create more value. Importantly, this will be a much simpler, much less complex company of leading brands that’s easier to manage and operate.'”
Click the image to read more of Abrams’ story.
Photo by Mario Anzuoni/Reuters