Should Employee Compensation Be Transparent?

Posted on June 19, 2017 by bermanevansretail

This is certainly a controversial topic, with great differences of opinion. For example: Yes — This is part of a more open company communication style with its employees. No — This invades privacy and can cause dissension among employees. What do YOU think?

Recently, Creative Group (a staffing firm) conducted research on this topic:

“Should professionals’ pay be public knowledge? Employers in the advertising and marketing fields don’t think so, according to new research from staffing firm Creative Group. More than eight in 10 creative executives interviewed (82 percent) said their organization refrains from publicizing employees’ compensation. Of those respondents, 61 percent feel pay transparency would decrease staff morale.”

“Is there an upside to embracing an open salary policy? According to the survey, the top benefits of sharing compensation information openly are increasing productivity (18 percent) and boosting recruitment and retention (17 percent). However, more than one-quarter of executives (27 percent) believe the potential risks outweigh any rewards.”

 

Take a look at the following infographic that summarizes that research findings.


 

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Amazon: King of the Retail World

Posted on June 16, 2017 by bermanevansretail

Today, it was announced that Amazon would be acquiring Whole Foods — for $13.7 billion. This is further evidence that the retail juggernaut is becoming a true bricks-and-clicks retailer. Although Walmart is the world’s biggest retailer, Amazon is THE single biggest disruptive force in retailing!!

As Michael J. de la Merced reports for the New York Times:

“The deal comes as the high-end grocer has been trying to fend off pressure from activist shareholders frustrated by a sluggish stock price. Whole Foods last month unveiled a sweeping overhaul of its board, replacing five directors, naming a new chairwoman, and bringing in a new CFO. It also laid out plans to improve operations and cut costs.”

“Amazon has designs on expanding beyond online retail into physical stores. The company is slowly building a fleet of outlets, and much attention has been focused on its grocery store dreams. It has already made an initial push through Amazon Fresh, its grocery delivery service. The E-commerce giant has been testing a variety of other retail concepts. It has opened a convenience store that does not need cashiers, and has explored another grocery store concept that could serve walk-in customers and act as a hub for home deliveries.”

 

Click the image to read more.

Whole Foods shoppers in Manhattan. Credit: John Taggart for New York Times

 

Posted in Online Retailing, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing | Tagged , , , , | 3 Comments

Surprise? Dads Big on Coupon Use

Posted on June 15, 2017 by bermanevansretail

Coupons are still widely used in the United States, although their format (paper vs. electronic vs. online) has been evolving. Did you know that males (dad) are about as likely as females (moms) to use coupons?

Here are some of the conclusions and an infographic from a Valassis consumer study on current coupon use:

“Parents are more alike than dissimilar when it comes to shopping for traditional consumer packaged goods categories, according to the Valassis Coupon Intelligence Study. Dads and moms are more prone to use coupons while shopping, with 96 percent of dads and 98 percent of moms doing so, compared to 90 percent of all adults. But when it comes to planning, dads appear to be a little more ‘last minute,’ having a higher instance of planning what to buy on the way to the store. This doesn’t mean you shouldn’t reach dads at home – for many, planning still begins there and coupons are the driver of decisions.”

“98 percent of dads prepare a shopping list prior to visiting a store and 96 percent say coupons influence that list; 85 percent of dads plan to buy a product only if there is a coupon, compared to 71 percent of all adults; and 43 percent of dads increased their purchase of only products for which they have coupons vs. 23 percent of all adults.”

 

Click on the chart to access Valassis’s full 24-page report on coupon trends.


 

Posted in Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , | Leave a comment