It’s no secret that emerging markets are producing an increasing number of millionaires each year.
The Financialist, Credit Suisse’s digital magazine about business and economies, recently released a Global Wealth Report which looked at personal wealth around the globe. The report found that in the next five years more and more millionaires will come from countries in the developing world, such as Brazil and China.
By 2017, China, which currently has 964,000 millionaires, will have 1,901,000 millionaires—a growth of 97 percent, according to The Financialist. And Brazil, which currently has 227,000 millionaires, will have 497,000 millionaires by 2017—a growth of 119 percent. Russia and Malaysia will also see their numbers of millionaires grow over the next five years with a growth of 109 percent and 108 percent respectively.
See the full infographic below.
Many retailers are terrified of turning into a showroom. They fear consumers will come only to test out the products they’ll later buy online.
Many stores, including Restoration Hardware’s rival Pottery Barn, fought showrooming by “rushing to lower prices,” Solsman writes.
But Restoration Hardware decreased its number of physical stores and used the remaining ones as showrooms. Sofas, tables, rugs and other decor were meticulously arranged with an emphasis on the aesthetic. Customers could find even more merchandise online or in catalogues while shopping in the stores.
The tactic is working. Direct-to-consumer now makes up half of Restoration Hardware’s business, and the retailer has reported double-digit sales growth for 10 quarters, according to Solsman.
“Furniture and decor, unlike consumer electronics and other items, aren’t easily searchable by specifications,” Solsman writes. “A highly fragmented market, home furnishings sellers benefit from many players having proprietary merchandise, which stunts online competitive threats.”
Groupon’s stock was up 23% today.
Two years ago, Google wanted to buy Groupon for $6 billion, but was rejected. Today, the company is worth $3 billion. While growth has slowed, its core business is bigger. Google might think that it could buy Groupon, shutter the underperforming businesses and fix the flaws.
Or, this could just be chatter. Bloomberg doesn’t really source where the speculation is coming from.
We still don’t know exactly how many in the Newsweek/Daily Beast newsroom will be losing their jobs, but an anonymous source tells The New York Observer that it’s a “bloodbath” that could annihilate half the jobs in editorial.
The Observer acquired the somber memo editor-in-chief Tina Brown and CEO Baba Shetty sent out to the staff.
Here it is:
To: All Staff
From: Tina Brown / Baba Shetty
The sad moment has arrived when we must go forth with the editorial staff reductions that we discussed in person with all of you several weeks ago. Employees in the affected positions will be notified today. Much of this has already happened on the business side, and today we will be letting staff on the editorial side know where we will be eliminating positions. This is a very difficult day, and one that we approach with enormous regret.
Anyone whose job (or job category) is affected will meet today with a senior member of the editorial team. No one will be asked to leave before December 31st (and many will stay at least into mid-January). Managers will be getting in touch later this afternoon with groups of affected employees to let them know when and where their particular meeting will take place. After the meetings with management, you should feel free to speak with Holly Antiuk or Lauren Strada for more specifics on all aspects of this transition. We are working to ensure that the process is handled as sensitively as possible.
Tina & Baba
Mobile continues to drive Pandora’s ad business.
Mobile ad revenues for its fiscal third quarter were $66 million, up from an estimated $53 million a quarter prior. Mobile accounted for 62 percent of total ad revenues, compared to 59 percent in the second quarter.
Overall mobile revenues, including subscriptions, increased $15 million in the quarter to $74 million.
Pandora is a prime example of how mobile is transforming what were once Web-based companies. With 77 percent of usage now coming from mobile— not to mention a majority of revenues— Pandora is essentially a mobile company.
But home entertainment has proved a hard business to crack, and consumers remain tied to their TVs and panoply of set-top devices.
In a new report from BI Intelligence, we examine the distinct scenarios via which mobile devices will wage their battle for the living room, analyze what happens when screens collide and how the new multi-screen living room will actually function, and detail the opportunities being presented to mobile developers, advertisers, and device manufacturers.
Here’s an outline of how mobile devices are waging the battle for the living room:
Substi tution: In a recent in-depth report, we found that mobile video is mostly complementary to traditional TV viewing. Mobile video is additive, creating more opportunities for watching video — whether it’s watching a sitcom on your smartphone during a train commute, or viewing a Netflix movie at home in bed.
- Source: The ability to relay high-quality video (including online video and games) wirelessly places mobile in competition with a whole galaxy of devices. Wireless TV connections are becoming increasingly common, and with them, the ability to bring smartphones and tablets more easily into the mix.
- Selection: When hand-held mini-tablets and smartphones are able to send signals to audiovisual equipment and home theaters, consumers gain more flexibility with a remote control based on a smartphone or tablet. Many apps, with attractive displays and intuitive touch-screen interfaces, are being developed for TV. As Time Warner CEO Jeff Bewkes recently said, competition in the TV int! erface s pace is heating up, and we’re going to see “as many interfaces as you can get.”
- Synchronization: In the US, 85% of U.S. tablet owners use their tablet while watching TV. In order to leverage the second screen as a companion to what’s happening on the TV, media companies must successfully migrate consumers from self-initiated use of the second screen to a programmed experience.
In full, the special report:
- Analyzes what happens when screens collide and how the new multi-screen living room will actually function
- Examines the distinct scenarios via which mobile devices will wage their battle for the living room
- Explores the opportunities for mobile developers, advertisers, and device manufacturers.
- Is full of illustrative charts and data
1. the overall advertising “pie” will shrink because the new efficiencies enabled by “digital” will allow advertisers to spend less (e.g. media placement dollars) and still drive the same or greater business impact
2. there will be a continued shift to digital, especially for companies that have products that benefit from more consumers coming online to do more research — e.g. bigger ticket items or items that require more consideration and research
3. because of the massive reach of Facebook, it will siphon branding dollars that used to be allocated to traditional one-way mass media such as TV; but in the short term magazines and newspapers will “hurt” the most, since they can’t even offer competitive mass reach any more – relative to Facebook.
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
Collaborators – Digital Profs
- Try On New Glasses in Warby Parker's Virtual Booth
- Netflix vs Blockbuster - Perfect example of an industry replaced by a more efficient version of itself
- Coke vs Pepsi vs Dr Pepper
- The Grand Unified Theory of Marketing(tm) - Digital String Theory
- Facebook advertising metrics and benchmarks
- Marketing Costs Normalized to CPM Basis for Comparison
- The JKWeddingDance video was real; the viral effect was MANUFACTURED - Post 1 of 2
- social media benchmarks
- Samsung 52 inch HDTV $9.99 at BestBuy - purchase receipt below (6:21a eastern time August 12, 2009)
- Brand Advertisers: Escaping an Ecosystem of Digital Advertising Fraud
- #SESNY: Toward a Performance Mindset for All Advertising
- Tips for Marketers Selecting a Digital Agency
- Context Is Not King or Queen; It's Just Necessary
- 2013 New Year's Digital Marketing Resolutions
- The Good, Bad, and Ugly of Online Campaign Ratings and eGRPs
- Why You Should Banish the Net Promoter Score Immediately
- Digital Strategy To-MAY-to vs. To-MAH-to
- The Agency-Client Relationship is Forever Changed
- Targeting vs. Privacy - Who Will Win?
- July 2015 (2)
- June 2015 (5)
- May 2015 (4)
- April 2015 (32)
- March 2015 (57)
- February 2015 (79)
- January 2015 (86)
- December 2014 (69)
- November 2014 (98)
- October 2014 (150)
- September 2014 (109)
- August 2014 (44)
- July 2014 (92)
- June 2014 (118)
- May 2014 (173)
- April 2014 (130)
- March 2014 (247)
- February 2014 (167)
- January 2014 (222)
- December 2013 (167)
- November 2013 (111)
- October 2013 (116)
- September 2013 (214)
- August 2013 (210)
- July 2013 (200)
- June 2013 (87)
- May 2013 (87)
- April 2013 (70)
- March 2013 (114)
- February 2013 (89)
- January 2013 (136)
- December 2012 (96)
- November 2012 (130)
- October 2012 (147)
- September 2012 (93)
- August 2012 (93)
- July 2012 (112)
- June 2012 (71)
- May 2012 (82)
- April 2012 (80)
- March 2012 (122)
- February 2012 (114)
- January 2012 (129)
- December 2011 (60)
- November 2011 (54)
- October 2011 (29)
- September 2011 (17)
- August 2011 (30)
- July 2011 (18)
- June 2011 (19)
- May 2011 (23)
- April 2011 (23)
- March 2011 (52)
- February 2011 (69)
- January 2011 (108)
- December 2010 (82)
- November 2010 (67)
- October 2010 (68)
- September 2010 (44)
- August 2010 (101)
- July 2010 (61)
- June 2010 (28)
- May 2010 (28)
- April 2010 (26)
- March 2010 (33)
- February 2010 (21)
- January 2010 (13)
- December 2009 (4)
- November 2009 (2)
- October 2009 (14)
- September 2009 (6)
- August 2009 (19)
- July 2009 (34)
- June 2009 (11)
- May 2009 (4)
- April 2009 (6)
- March 2009 (13)
- February 2009 (32)
- January 2009 (25)
- December 2008 (1)
- October 2008 (1)
- June 2008 (1)
- November 2007 (1)