- Mark Levin Signs Multi-year Deal with ABC, Expands Show to 3 Hours
- Consumerist.com Adopted by Old-School Consumers Union, Stops Selling Ads
- For Auto Industry, 2009 Holds Even Tighter Ad Budgets
- User-Generated Magazine Publisher 8020 Media Shuts Doors
- Out-of-Home, Fueled by Digital, to Weather Recession Well
- Clear Channel Swaps Cincy Stations for Five in Green Bay
- Consumers Swarm to Discounters for Grocery Items, Don’t Switch Back
- Wikimedia Raises $6.2M to Keep Wikipedia Afloat
- Conde Nast’s Jan. Ad Pages Slip More than Most
- Aegis Faces Possible Sale or Spin-off of Non-core Businesses
- Top US Cities for Charitable Givers, by Category
- Online Fitness, Video Game Spending Outperforms Brick-And-Mortar
- RIM Must Fix Glitches, Boost Satisfaction To Hold Off iPhone
- LCD TV Revenue to Fall YoY for First Time Ever
- Top 10 Broadcast Media Websites - November 2008
- Top 10 Entertainment Online Advertisers by Image-Based Impressions - November 2008
- Top 10 Sports Websites - November 2008
- Eight in 10 Online Holiday Shoppers Read Web Reviews
- Top 40 Online Retail Satisfaction Index: Merry Outlook for Some, but Not Others
- Firefox Share Tops 20% in November
Wealthy
Long before Economic Crisis, Americans Grew Wary, Slowed Spending
Consumer confidence and spending began slowing as early as spring 2007, according to a recent analysis by Experian Marketing Services, based on data from Experian units Simmons and Hitwise.
From spring 2007 to summer 2008, the percentage of US adults who felt they would be financially better off in the next year dropped 11 percentage points, from 46% to 37%.
Moreover, the number of adults who...
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Neiman Marcus Q1 Profits Slump
Upscale retailer Neiman Marcus, Inc. reported total revenues of $986 million for the first quarter of fiscal year 2009 (ended Nov. 1, 2008), compared with $1.13 billion in the prior year. Comparable revenues decreased 14.5% in the first quarter, it said (pdf).
Quarterly profits were down 84% as shoppers cut back in a recessionary economy; net profit was $12.9 million in the quarter, down from...
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Over-the-top Luxury Loses Traction as Rich Get More Contrite
Typical activities of the ultra-wealthy, from shopping for luxury items to throwing fancy parties, are waning, as it suddenly seems vulgar to flaunt one’s luxurious lifestlye, writes Newsweek.
High-end retailers and brands that flourished during the dot-com and hedge-fund boom are having trouble staying profitable as the new “embarrassment of riches” cuts into sales.
The entire $175-billion...
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Consumer Survey: Personal Finance WOM Influencers Small Group with Big Clout
In word-of-mouth communications regarding personal finance, 11.5% of the US adult population are key influencers, online and offline, according to a new survey from Mediamark Research & Intelligence (MRI).
This segment of approximately 25.4 million adults mirrors the typical American adult in terms of age and income: Dubbed “Big Circle Influentials” because of their relatively large sphere of...
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Retailers Banking on Men to Spend This Holiday Season
Retailers are making their stores more man-centric by adding new guy-friendly products and gifts as well as remodeling and expanding their men’s departments, writes The Wall Street Journal.
They are making those efforts in order to encourage men to keep spending, even during a recession. Though the industry tends to think of the segment as unwilling shoppers who ignore trends and rarely spend on...
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Burberry 1H Net Rises, Admits 2H Will Be a Toughie
Strong sales of Burberry’s luxury handbags edged up sales in the first half of the year (to Sept. 30), the company said - but added that it too will be negatively affected by the tough economic environment, reports The Guardian.
The UK fashion house - known for its camel, red, and black checkered pattern - has had profit margins fall, particularly in the US, where a higher proportion of sales is...
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US Retail E-Commerce Growth Slows to 1% in Oct. - Least-Ever Growth
Online retail spending in October 2008 grew only 1% over October 2007, according to comScore’s monthly retail e-commerce sales estimates; that’s the lowest monthly growth rate since comScore began tracking e-commerce in 2001.
The overall softness in online retail spending was precipitated by curtailed spending across mid- to lower-income segments, with households earning less than $50,000...
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Affluents, Millionaires Lose Short-Term Investing Confidence
The current economic situation appears to have created a short-term crisis of confidence among some affluent and millionaire investors, but nearly two-thirds say they have done nothing to change their long-term investment strategy, according to research from Phoenix Marketing International, MarketingCharts writes.
The report, “Affluent & Millionaire Sentiment: A Crisis of Confidence,” states...
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CVS Opens New Concept Store, Announces Longs Layoffs
CVS Caremark - after reporting strong Q3 earnings and the successful completion of its takeover of Longs Drugs last week - opened its first upscale beauty store in Washington DC’s Dupont Circle.
The new concept, called Beauty 360, targets women shoppers who “will still treat themselves to little luxuries like a $15 lipstick,” despite the cutbacks that most consumers are making, even on beauty...
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‘Biggest-Ever Mall Opening’ in Dubai
In what it is calling “the world’s largest-ever mall opening in retail history,” Emaar Properties PJSC is opening the Dubai Mall in the United Arab Emirates.
Nearly 600 stores are operational, but the mall will have over 1200 stores, including two anchor department stores (Galeries Lafayette and Bloomingdale’s) when completed. There will be 220 gold and jewelry outlets, 160 food and beverage...
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