Professions Perceived as Most Ethical – and Most Unethical

Posted on January 10, 2018 by bermanevansretail

Today, we discuss the professions perceived as most ethical – and most unethical. And this builds on our coverage of ethical firms and marketing practices: World’s Leading Ethical Retail Firms and Do Company Ethics Affect Consumer Behavior?

For most of us, the leading study of ethics in the professions is from Gallup. Let’s look at its December 2017 U.S. poll results.
 

U.S. Professions Perceived as Most Ethical – and Most Unethical

For several years, Gallup has polled the American public to learn how the ethics of 22 different professions are perceived.

Before reading further: Which professions do YOU view as the most ethical? And as the most unethical? In alphabetical order, here are the 22 professions:

(1) Advertising practitioners. (2) Auto mechanics. (3) Bankers. (4) Business executives. (5) Car salespeople. (6) Clergy. (7) Day care providers. (8) Grade school teachers. (9) Judges. (10) Lawyers. (11) Lobbyists. (12) Local officeholders. (13) Medical doctors. (14) Members of Congress. (15) Military officers. (16) Newspaper reporters. (17) Nurses. (18) Nursing home operators. (19) Pharmacists. (20) Police officers. (21) State officeholders. (22) TV reporters.

After doing your ranking, review Gallup’s December 2017 findings. And study this chart.

Professions Perceived as Most Ethical - and Most Unethical

As Gallup reports:

“For the 16th consecutive year, Americans’ ratings of the honesty and ethics of 22 occupations finds nurses at the top. And more than eight in 10 (82%) Americans describe nurses’ ethics as ‘very high’ or ‘high.’ In contrast, about six in 10 Americans rate members of Congress (60%) and lobbyists (58%) as ‘very low’ or ‘low’.”

“In sum, a majority of Americans rate six groups as ‘high’ or ‘very high’ for honesty and ethics. Besides nurses, that list includes military officers, grade school teachers, medical doctors, police officers, and pharmacists. Although the rating of pharmacists remains high, it fell 5 points from 2016. And this may reflect the opioid crisis.”

In 2017, “only members of Congress and lobbyists get majority negative ratings. Yet, the other 14 occupations rate ‘average’. Lawyers, local officeholders, bankers, and auto mechanics have majority ‘average’ marks. Also, the public is divided between positive and average rankings for both judges and clergy. And these two groups require honesty and ethical standards.”

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 7: Communicating with the Customer | Tagged , , , , , | 1 Comment

Influencer Marketing Keeps Evolving

Posted on January 9, 2018 by bermanevansretail

At the beginning of 2018, we offer another post on influencer marketing. With the growth of social media, influencer marketing is vital. Today, we examine how influencer marketing keeps evolving.

To recap, these are two of our posts on this topic: Whom Do Internet Users Trust Most? and NRF’s Top 25 People Impacting Retail.
 

Influencer Marketing Keeps Evolving

Within a short period, influencer marketing has made its mark. And the variety and number of influencers are both growing. In addition, social media stars may outdo big-name celebrities.

Consider these observations from Tom Hopkins. He is the Managing Director of One Productions. It is a video production firm based in Dublin, Ireland:

“Did you know that 94% of marketers find influencer marketing effective? Research shows it can generate 11 times the ROI of traditional ads. Micro influencers (non-celebrities) have great power. It may exceed macro influencers (celebrities). People seem to trust non-celebrity bloggers. And 60% consult blogs, vlogs, and social media posts prior to purchases. Thus, I have devised this infographic. And it looks at the impact of influencer marketing.”

The infographic reviews:

  • Influencer marketing stats.
  • Choosing influencers.
  • Influencer-generated engagement.
  • Trust in influence marketing.
  • Reach of influencers.
  • Impact of influencers.
  • Costs of influencer marketing.
  • Influencer marketing pricing models.

Influencer Marketing Keeps Evolving -- Join the Revolution

As A.T. Kearney reports. And as we have noted before:

First. The shift from affluence to influence rises from these factors. Demographic shifts. Changing values. Hyper-connectivity. That rewrites rules of global consumer purchases. Second. As a result, the future mass market will thrive on this. Influence. Customizing. Trust. Third. Last, brands will appeal to consumers. Why? Because they use technology to influence and sell. And the ability to engage people will be key.”

To conclude: Please, grasp your ability to influence. And your ability to be influenced.

Posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Social Media and Retailing | Tagged , , , , | Leave a comment

2017 American Personal Consumption Spending

Posted on January 8, 2018 by bermanevansretail

Due to a strong economy, 2017 saw an uptick in consumer spending. So how good a shopping year was it? Let’s look at 2017 American personal consumption spending.

 

Good Times: 2017 American Personal Consumption Spending

Before noting total-year spending, consider these posts:

Now, on to some interesting 2017 U.S. spending data.

According to 24/7 Wall St.:

“American consumers spent $130.6 trillion through November 2017. That was a 2.7% increase over 2016. And personal spending by U.S. consumers accounts for two-thirds of all spending in the United States. Thus, it is the primary driver of economic growth. Spending on luxury goods such as yachts and private planes has risen. So has spending on necessary expenses such as housing, food, and health care. Additionally, due to better technology more Americans are able to afford televisions, internet access, and other consumer electronics. Changes in technology have also led some Americans to abandon certain outdated products and services altogether.”

“To determine what Americans spent in 2017, we analyzed real personal consumption expenditures from January to November 2017 from the Bureau of Economic Analysis [BEA]. We chose 50 consumer categories that best represent what Americans spent in 2017. Money continues to circulate over the course of the year once it is spent. Thus, while personal consumption is a good reflection of how Americans spend their money, it far outweighs the total value of goods and services in the economy.”

Click the 24/7 Wall St. logo to read its fully story. Then, check out the top five spending categories below the logo.

2017 American Personal Consumption Spending -- Top 50 Categories
 

Top Five Categories: 2017 American Personal Consumption Spending

Here are 24/7 Wall St.’s top five spending categories based on BEA data.

  1. Occupied housing payments. 2017 spending: $19.39 trillion. Share of total expenditure: 14.85%. 1-year change: +1.24%. 10-year change: +14.01%.
  2. Groceries. 2017 spending: $7.89 trillion. Share of total expenditure: 6.04%. 1-year change: +2.49%. 10-year change: +5.14%.
  3. Physician and dental visits. 2017 spending: $6.68 trillion. Share of total expenditure: 5.12%. 1-year change: +4.40%. 10-year change: +25.80%.
  4. Restaurants and bars. 2017 spending: $5.61 trillion. Share of total expenditure: 4.30%. 1-year change: +0.84%. 10-year change: +15.65%.
  5. Clothing and footwear. 2017 spending: $4.24 trillion. Share of total expenditure: 3.25%. 1-year change: +2.01%. 10-year change: +19.08%.

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information | Tagged , , , | Leave a comment