business

Source: http://www.businessinsider.com/developing-countries-with-most-millionaires-2012-12

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.

Millionaires Infographic

SEE ALSO: The 10 Best US Cities To Become A Millionaire

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Monday, December 17th, 2012 Uncategorized No Comments

How Restoration Hardware Made ‘Showrooming’ An Asset Instead Of An Enemy

Source: http://www.businessinsider.com/restoration-hardware-uses-showrooms-2012-12

restoration hardware furniture

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. 

Furniture store Restoration Hardware decided to approach “showrooming” differently by accepting and encouraging it, reports Joan Solsman at The Wall Street Journal

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.

Restoration Hardware’s model probably wouldn’t work for Best Buy, the most prolific victim of “showrooming,” Solsman cautions. 

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.”

DON’T MISS: The Fabulous Life Of The Mysterious Billionaire Behind Zara >

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Wednesday, December 12th, 2012 news No Comments

Social Media Is Changing How Supply And Demand Works For Big Brands

Source: http://www.businessinsider.com/social-media-manufacturing-2012-12

Burberry Milan Fashion Week Menswear Fall Winter 2012 2013 Collection Runway

Many companies see social media as just another marketing and communications tool. A particularly effective one maybe, but just another of many.

According to Erich Joachimsthaler, founder and CEO of Vivaldi Partners, they’re missing out on the biggest source of value from these platforms. In a recent report, he outlines how brands can use social media to change their entire business, not just their marketing.

“Where I see the biggest opportunity is to think about your entire business model. There’s so much of this social information that is unstructured information, and consumers make 75 percent of it,” Joachimsthaler says. “If you want to think about your business, if you want to create value and competitive advantage, it’s about thinking about that information and penetrating it at every step of your value chain.”

One of the best examples of this, which Joachimsthaler has studied in depth, is Burberry.

The first thing that’s allowed them to change their business is the sheer size of their social reach. “Burberry has about 15 million — and that’s growing rapidly — Facebook likes. This is an astounding figure,” Joachimsthaler says. “This is astounding because even Nike is not as strong, and Nike is a $15-18 billion dollar company. Burberry is at about $3 billion. So it’s a massive difference, the two companies don’t compare.”

They built that following by offering something useful. People on Facebo! ok can s ee Burberry fashion shows before the celebrities who actually sit in front of the catwalk.

But what’s truly innovative is what they do with those likes.

“What Burberry does is, it has made those videos shoppable. You can click on the particular garment and you can basically make an order on the spot. So Burberry can collate the orders from 15 million people. They haven’t manufactured the product yet in China, but they have taken the orders, they know exactly how many people have ordered what,” Joachimsthaler says. “They already have my money in the bank. 15 million times $200; that’s a lot of money in the bank. When they have the orders, they can then send the order to China, manufacture it, and within two weeks they can either deliver it to your home, or you can have it delivered to a store and you can buy additional garments.”

For a taste-driven and occasionally fickle industry, this saves a tremendous amount of money. “This changes the entire value chain,” Joachimsthaler says. “The fashion business is fraught with forecasting. You forecast what will be bought in the next year, you need to produce them, manufacture them in China, there are inventory problems, there are logistics problems, then you put it in the store, the thing doesn’t sell, if it doesn’t sell you have to send it to the outlet store and mark it down.

Burberry avoids a great deal of that.

There’s huge potential here that’s yet to be realized, and it could be a game-changer for the industry. We’ve only seen the beginning, Joachimsthaler argues. Someday, companies like Burberry could operate with a fraction of their inventory, and never have to mark anything down.

It’s a tremendous innovation in operations, and one that will have a large impact going forward, possibly even beyond the fashion industry.

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Monday, December 10th, 2012 news No Comments

Groupon Soars Thanks To A Rumor Google Might Buy It (GRPN, GOOG)

Source: http://www.businessinsider.com/groupon-stock-2012-12

Groupon’s stock was up 23% today.

Bloomberg is reporting there’s speculation that Google might take over Groupon.

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.

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Friday, December 7th, 2012 news No Comments

Google Apps discontinues basic package, asks new customers to pony up $50 per user for premium

Source: http://www.engadget.com/2012/12/07/google-apps-discontinues-basic-package/

Google Apps discontinues basic package, asks all new customers to pony up $50 per user for premium

Looking towards Mountain View to provide a suite of digital tools for your new business? Make sure to pen per-user costs into your ledger — Google Apps isn’t free anymore. According to Google’s enterprise blog, the basic Google Apps package is being abandoned to streamline the service, offering businesses a single, $50 per user option that promises 24/7 phone support, 25GB inboxes and a 99.9% uptime guarantee. Pre-existing free customers can still hum along unmolested, of course, and the standard pricing doesn’t apply to schools or universities, either. Personal Google accounts are still free too, doling out gratis Gmail and Drive access to anyone with a unique user name. The team hopes that streamlining the Apps will allow it to provide better service, possibly offering enterprise users new features on a faster timetable.

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Friday, December 7th, 2012 news No Comments

‘The Sad Moment Has Arrived’

Source: http://www.businessinsider.com/tina-brown-daily-beast-firings-2012-12

Tina Brown

Newsweek is cutting a chunk of its editorial staff.

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

S EE ALSO: The Most Iconic And Controversial Newsweek Covers Ever >

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Friday, December 7th, 2012 news No Comments

Mobile Accounts For Over 60 Percent Of Pandora’s Ad Revenues

Source: https://intelligence.businessinsider.com/welcome

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.  

pandora ad revenues 

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Thursday, December 6th, 2012 news No Comments

How Mobile Is Waging Battle For The Multi-Screen Living Room

Source: http://www.businessinsider.com/bii-report-how-mobile-is-waging-battle-for-multi-screen-living-room-2012-12

fFor over a decade, big tech companies, including IBM, Apple, and Microsoft, have been promising to take over the living room.

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. 

Access the Full Report By Signing Up For A Free Trial Today >>>

Here’s an outline of how mobile devices are waging the battle for the living room:

In full, the special report:

For full access to the report on How Mobile Is Waging A Battle On The Living Room sign up for a free trial subscription today.



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Tuesday, December 4th, 2012 news No Comments

3 Myths About Facebook The Company Wishes Would Go Away (FB)

Source: http://www.businessinsider.com/myths-about-facebook-2012-12

carolyn everson facebook

Ever since Facebook went public earlier this year — and was finally liberated from the SEC-required “quiet period” that all companies must go through when offering stock — Facebook has been trying to chase down several untrue rumors about how its business works.

As the old saying goes, a lie will go round the world while truth is pulling its boots on.

We sat down recently with Carolyn Everson, Facebook’s vp/global marketing solutions, and asked her what the most common misconceptions were among advertisers about the way Facebook works.

She told us that these are the three of the biggest:

1. “Facebook ads don’t work.”

Everson says: “I see it in the press sometimes. I will hear a marketer say, ‘Prove it to me, show me how Facebook marketing works.’ To me that’s code for ‘I haven’t believed it yet, or I haven’t seen enough data.’ And my team now is equipped globally with literally hundreds of examples and proof points of how Facebook advertising works [for] everything from Samsung launching a product down to your small/medium business trying to drive people into their stores.”

2. “Mobile is bad for Facebook.”

To be fair, this myth was started by Facebook itself, when it warned in its IPO papers that had not yet properly monetized mobile. It warned again in Q2that mobile may “negatively affect” revenue. Since then, however, mobile has turned out to be huge for Facebook.

Ev erson says: “Mobile is fantastic for monetization. Fourteen percent of our revenue from the third quarter was from mobile. The CPMs are higher in mobile across the board. The performance in the news feed on mobile are 8 to 10X. Let me give you some interesting stats. Rosetta Stone, language provider, did an offers product. They got 560,000 claims, 98 percent of them via mobile. Lawson’s is a Japanese convenient store, kind of like 7-11, they got 598,000 claims, 93 percent from mobile. It is a very powerful way for our marketers to reach our users and I will tell you that when I sit with the client council members, Keith Weed at Unilever or Marc Pritchard at P&G, any of the top CMOs, they are entirely focused on how Facebook can help them in emerging markets … Clearly more people are joining Facebook on mobile, so mobile’s been very positive from a user growth standpoint.”

3. “Facebook only works for brand awareness.”

Everson says too many advertisers think Facebook is only good at generating vague brand image impressions, and it’s not for driving direct sales. But she believes Facebook has uses throughout marketing’s customer “funnel”:

“The third myth, Facebook only works for top-of-the-funnel objectives, for brand awareness, for people having conversations or earned media. What we have now demonstrated consistently is we deliver throughout the entire funnel. ”

Disclosure: The author owns Facebook stock.

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Tuesday, December 4th, 2012 news No Comments

Advertising Outlook 2012 – 2016

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.

Trends in Advertising by Augustine Fou Chief Digital Strategist from Dr Augustine Fou

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Thursday, November 29th, 2012 digital No Comments

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.

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