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Cyber Monday Spurs Up U.S. Holiday Retail Market

Cyber Monday is a marketing term for the Monday immediately following Black Friday, the Friday following Thanksgiving Day in the United States, created by companies to persuade people to shop online.cyber-monday-2010

Cyber Monday made its debut on November 28, 2005 in a Shop.org press release entitled “‘Cyber Monday’ Quickly Becoming One of the Biggest Online Shopping Days of the Year”. According to the Shop.org/BizRate Research 2005 eHoliday Mood Study, “77 percent of online retailers said that their sales increased substantially last year on the Monday after Thanksgiving, a trend that is driving serious online discounts and promotions on Cyber Monday this year (2005)”. In 2006, Shop.org announced that it launched the CyberMonday.com portal, a one-stop shop for Cyber Monday deals. In 2009, comScore reported that consumers spent $887M online on Cyber Monday (excluding travel), the second highest spending day of 2009.

Cyber Monday is also used as a marketing term in Canada, the United Kingdom, Portugal and Germany. In these countries, with the exception of Canada, Cyber Monday sales last for eight days, typically from the last Monday in November to the first Monday in December. In Canada, the sales period mirrors that of the U.S.

According to the Associated Press Nearly 90 percent of retailers offered “Cyber Monday” deals for the Monday after Thanksgiving, dubbed Cyber Monday. Sales might top $1 billion this year. This year shoppers seem to be in the mood to spend. On Thanksgiving Day, usually quiet for online shopping, Americans spent $407 million online, 28 percent more than last year. They spent nearly $650 million online the following day, up 9 percent, according to online research firm comScore. The bulk of the holiday season remains ahead. Online shopping makes up about 8 to 10 percent of total holiday sales.

Posted in Online Marketing. Tagged with , , , .

By stella
December 3, 2010

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Coremetrics Benchmark Report: 2010 Black Friday Online Spending Delivers Double Digit Growth

The U.Black FridayS. online retail sector delivered double digit growth on Black Friday 2010 compared to the same period last year, according to analytics-based findings by IBM (NYSE: IBM). These findings expand on IBM’s earlier forecast that in-store sales of consumer electronics and appliances in U.S. retail stores would get an early start this year, with consumers spending a larger-than-usual share in November.

Delivered as part of Coremetrics, an IBM Company’s third annual Black Friday Benchmark Report, the analysis of the online retail sector reveals the following trends as of 12:00 am PST compared to Black Friday 2009 (year/year):

  • Consumer Spending Increases: Online sales were up a healthy 15.9 percent, with consumers pushing the average order value (AOV) up from $170.19 to $190.80  for an increase of 12.1 percent.
  • Luxury Goods Make a Comeback: Jewelry retailers reported a 17.6 percent increase in sales. These affluent shoppers appear very willing to open their wallets.
  • Surgical Shopping: Consumers know what they want and where to get it. People are viewing 18.0 percent fewer products on sites than they did last year, suggesting that they are shopping with a specific item in mind and quickly moving on.
  • Social Shopping: Consumers appear increasingly savvy about their favorite brands’ social presence, and are turning to their networks on social sites for information about deals and inventory levels. While the percentage of visitors arriving from social network sites is fairly small relative to all online visitors—nearly 1 percent—it is gaining momentum, with Facebook dominating the space.
  • Mobile Shopping: Consumers are also embracing mobile as a shopping tool. On Black Friday, 5.6 percent of people logged onto a retailer’s site using a mobile device, a jump of 26.7 percent compared to the prior Friday.

Retail Categories:

  • Department stores have become the research engine of choice for consumers looking for Black Friday deals and product promotions. As a consequence, shoppers are spending 17.7 percent more time year over year on department store sites.
  • Health and Beauty also reported a rise of 73.1 percent in the number of new consumers completing their first purchase on their sites and a 53.4 percent jump in the number of visits in which consumers completed an order.
  • In-Store Sales in the Consumer Electronics and Appliances Sector are expected to increase 3.5 percent this year compared to last, with consumers spending a larger-than-usual share in November, according to an analytics-based forecast from IBM’s Global Business Services division. U.S. consumers have been increasing their savings relative to disposable income, from 2 percent in 2007 to nearly 6 percent today, leading to strong pent-up demand this holiday season for consumer electronics and appliances, both of which are typically seen as necessities in the present-day economy.

Posted in Business management. Tagged with , , , .

By admin
November 29, 2010

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Secrets For Your Career Promotion-Part 1

No matter where you fall on the corporate totem pole, a salary increase is something cherished by all. Most, dare I say all, companies have a systematic way of assessing an employee’s overall performance. Sometimes it’s objective, sometimes it’s corporate politics, and sometimes it’s frankly about who brown-nosed the best. While you can somewhat determine your fate in all of these areas, the one area you are in clear control of is your performance. Performance is a lot more than coming to an office everyday and doing ‘stuff’. In today’s ultra-competitive and global economy, people that skate by are expendable and easily replaced. So how do we take that and turn it around? How do we create a unique value that our bosses are willing to pay for? No, the answer is not to play sycophant and brown-nose. While that may get you a free lunch, it won’t be the long term approach you’ll want to base a career on. Instead, consider the six ways I am about to mention.

By the way, I have received two successful promotions in the past using these methods and I think these could work for you too. And yes, contrary to the tempting title, these may not be secrets but these are things that tend to be forgotten in the daily minutia you face. If you already know about them, consider this post as a reminder to follow them in your job.

1 Perform

That’s the bottom line and blatant truth. If you don’t perform, sooner or later you’ll be fired. Until that happens, you will wallow in mediocrity. It’s not that performance is the only thing securing your job or that good performers can’t be fired but it is certainly the most important thing when it comes to retaining your and advancing in the company.

Understand your job well and learn to perform. Hard work and smart work, both are needed for the purpose. Decide the right direction and work in that direction to achieve your goal. You can easily become one of the best performers out there if you’ve got the willingness to do it.

2 Innovate

As I mentioned initially, performance is important but it’s not just about that. Every company looks for the unique value in their employees. This could range from those that invent new methods to work, find errors before customers, etc. The workers with these skills and the ability to ‘market’ them internally are the apple in the eyes of the firm. Such employees are always entrusted with important work and hence they have better chances to move ahead.

Think laterally and try to find new ways to get the work done and be productive at the same time. Once you find it and you think that it’s good fit for the firm, tell your bosses about it. Market your innovation…spread it. You’ll see the good results soon.

To be continued…

Posted in Career. Tagged with , , .

By stella
November 24, 2010

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2010 Top Ten Promising Jobs

Starting salaries in the accounting and finance, information technology (IT), and administrative fields are expected to remain relatively flat or see modest declines next year, but some positions will buck this trend, according to the 2010 Salary Guides from Robert Half International. Research for the guides provides insight into compensation and hiring trends within each field, and identifies 10 positions where national average salaries are holding strong or seeing slight gains.

Starting salaries for accounting and finance positions are expected to increase by an average of 0.5 percent in 2010. Businesses seek financial professionals who can help manage costs and enhance profitability. Companies also value personnel who possess deep technical expertise, are excellent communicators and collaborate effectively with colleagues across multiple departments.

Positions with the best prospects include:

1. Tax accountant: Companies seek tax accountants who can help their organizations achieve bottom-line savings through effective tax management strategies. Businesses also need their guidance to maintain compliance with tax regulations, such as FAS 109 and FIN 48. Tax accountants with one to three years of experience at large companies (more than $250 million in sales) are expected to see an average national starting salary in the range of $46,500 to $61,500.

2. Compliance director: Firms need professionals who can help them comply with U.S. Securities and Exchange Commission mandates and prepare for the potential transition to International Financial Reporting Standards. New regulations that are issued as a result of the financial crisis may generate further demand for professionals with the requisite compliance expertise. The starting salary range for a compliance director at a small company (up to $25 million in sales) is forecast to be $83,750 to $108,500.

3. Credit manager/supervisor: Companies need professionals who can contribute to the bottom line by reducing inefficiencies and enhancing profitability. As a result, credit and collections specialists who can evaluate credit risk, manage delinquent payments and help improve cash flow are in demand. Base compensation for credit managers/supervisors working in small companies is projected to range between $42,500 to $57,500.

4. Senior financial analyst: Businesses need professionals who are able to evaluate financial plans, forecasts and budgets, and identify ways to improve profitability. A senior financial analyst at a midsize company ($25 million to $250 million in sales) is anticipated to earn $57,750 to $74,000 in starting salary in 2010.

National starting salaries for IT roles are forecast to decrease by an average of 1.3 percent in 2010. Professionals who are most in demand are able to tie IT initiatives to larger business objectives, helping their firms become more efficient and reduce costs. In addition, managers seek candidates with strong communication skills for projects that involve collaborating with peers in other areas of the company.

Positions with the best prospects include:

5. Network administrator: Cloud computing, Voice over Internet Protocol (VoIP) and Software as a Service (SaaS) have significantly increased the complexity of and requirements placed on networks. Further, chief information officers interviewed for the fourth-quarter Robert Half Technology IT Hiring Index and Skills Report cited network administration as the most in-demand skill set. Network administrators can expect to see starting salaries in the range of $54,500 to $80,250 in the coming year.

6. Information systems security manager: Protecting the confidentiality, integrity and availability of information from internal and external breaches is a must-have for companies of all sizes, making security professionals integral to the IT department. The salary range for an information systems security manager is expected to be $96,500 to $130,750.

7. Systems engineer: As companies implement new technologies, technical services roles remain critical to the organization. Systems engineers are in demand to help companies develop and maintain technical infrastructure, hardware and system software components in support of a variety of IT projects. Base compensation for these professionals is projected to range from $64,250 to $93,250.

Starting salaries for administra­tive professionals are projected to decrease by an average of 2.2 percent in 2010. However, demand is steady for administrative candidates with broad expertise and the ability to multitask, especially within teams that have been stretched thin and have redistributed work among fewer employees. In addition, firms want support staff who are confident as they approach unexpected situations, quick to learn new skills and able to help others adapt to change.

Positions with the best prospects include:

8. Medical records clerk: As more hospitals and healthcare organizations transition from paper to electronic medical records, facilities will seek medical records clerks who can help supervise the scanning and processing of patient data. These individuals can expect to earn a starting salary of $23,750 to $31,500 in 2010.

9. Customer service representative: In the current economy, hiring managers consider customer service the function most critical to their organizations’ success, according to the 2009 Employment Dynamics and Growth Expectations (EDGE) Report from Robert Half and Career Builder. The salary range for a customer service representative is projected to be $22,750 to $30,750.

10. Executive assistant: Companies with leaner teams are looking for employees to take on a wider range of duties. Executive assistants who can wear many hats, support multiple managers and adapt readily to change are in particular demand. These individuals are likely to see starting salaries in the range of $35,000 to $47,000.

Messmer noted that many firms continue to report challenges finding highly skilled candidates, despite current unemployment figures. “Recruiting difficulties are the result of a number of factors, including continued competition for the best workers, the unwillingness of professionals to leave secure positions and employers themselves being more selective to avoid costly hiring mistakes. To keep up with business demands and reduce the need for additional layoffs, many firms have increased their reliance on interim professionals and temporary-to-full-time arrangements.”

Posted in Career. Tagged with , , .

By stella
November 11, 2010

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China’s Influence in Africa

Amid growing concerns about the People’s Republic of China’s burgeoning influence around the globe, Beijing has now set its sights on Africa. China’s interest in Africa is not new. In the 1960s and 1970s, Beijing’s interest was centered on building ideological solidarity with other underdeveloped nations to advance Chinese-style communism and on repelling Western “imperialism.” Following the Cold War, Chinese interests evolved into more pragmatic pursuits such as trade, investment, and energy.

china_africaIn recent years, Beijing has identified the African continent as an area of significant economic and strategic interest. America and its allies and friends are finding that their vision of a prosperous Africa governed by democracies that respect human rights and the rule of law and that embrace free markets is being challenged by the escalating Chinese influence in Africa.

The People’s Republic of China (PRC) aids and abets oppressive and destitute African dictatorships by legitimizing their misguided policies and praising their development models as suited to individual national conditions. Beijing holds out China’s unique development model-significant economic growth overseen by a disciplined, one-party totalitarian state with full authority, if not control, over all aspects of economic activity-as an example for others to emulate.

Moreover, China rewards its African friends with diplomatic attention and financial and military assistance, exacerbating existing forced dislocations of populations and abetting massive human rights abuses in troubled countries such as Sudan and Zimbabwe. As a consequence, Chinese support for political and economic repression in Africa counters the liberalizing influences of Africa’s traditional European and American partners. China’s vigorous campaign to develop close ties with individual African nations also reflects Beijing’s global quest to isolate Taiwan diplomatically (seven of the 26 countries that have full diplomatic relations with Taiwan are African).

The most pernicious effect of the renewed Chinese interest in Africa is that China is legitimizing and encouraging Africa’s most repressive regimes, thereby increasing the likelihood of weak and failed states. The United States must also be alert to the potential long-term disruption of American access to important raw materials and energy sources as these resources are “locked up” by Chinese firms for the PRC’s domestic market to maintain China’s economic growth.

U.S. national interests lie in effectively countering these developments in Africa by deftly encouraging democratic processes, economic freedom, and respect for human rights across the African continent.

Posted in China Business Development. Tagged with , .

By admin
November 3, 2010

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Farewell, Shanghai Expo

Shanghai is bidding farewell to the world expo—a six-month event showcasing China’s rise in the world.

Shanghai expoPrime Minister Wen Jiabao described the fair as “splendid”, saying it “truly brought together people around the globe”.

Officials say a record 72m people—most of them from across China—visited pavilions staged by more than 240 countries and organizations.

China has reportedly spent some $60bn preparing for the fair.

The figure—mentioned in Chinese state media is more than that was spent on the Beijing Olympics in 2008.

However, the Shanghai government only confirms that its budget for the fair was $4.2 bn..

Chinese officials said at the opening of the World Expo on 1 May that it was an opportunity to promote the country’s “soft power”- to show off its growing influence in the world.

Highlights of the events included Denmark’s famous Little Mermaid sculpture, impressionist paintings from the Louvre at France’s pavilion, entertainment by Canada’s Cirque du soleil and many others.

The majority of the visitors have been ordinary Chinese from around the country, who often had to queue for hours to see some of the most popular pavilions.

“Thanks to the Expo, people like me who never would have a chance to go abroad can experience the whole world,” said Zhou Aiguo, an ordinary worker in Jiangsu province.

“The Shanghai Expo will close soon but it will not be forgotten,” UN Secretary General Ban Ki-moon said. “Let us keep the Shanghai vision alive in our discussions and our lifestyles.”

Posted in China Business Development. Tagged with , .

By admin
November 2, 2010

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What is BPO?

Business process outsourcing (BPO) is the practice of using a third party, contracted to perform specific, specialized processes on a company’s behalf. Although “outsourcing” in its most basic form has been used for decades, such as when a business uses an outside accountant to balance the books, it has become a practice used by the majority of businesses and large companies, on a much larger scale. By outsourcing certain aspects of “doing business,” the company can focus on its primary purpose, whatever that may be.business process outsourcing

There are two primary types of BPO: back office and front office outsourcing. Typical back office processes that may be outsourced include payroll, billing, logistics and human resources. Some companies offer their services in collections, credit analysis and job recruitment. More than ever, processes that one would never think would be outsourced, such as claims processing at an insurance company, are being outsourced to separate companies. Examples of front office outsourcing include technical support, customer service, marketing and advertising.

The foreign call center has become one of the most reviled aspects of BPO, with many located in different parts of the world. Where most companies once touted their customer service as something they took pride in, many customers find themselves having to explain their problems to someone has little vested interest in the company. Outsourcing or “offshoring” customer service to countries such as India saves the company a lot of money and improves their bottom line. Some of the biggest complaints customers have with foreign call centers are heavy accents and obvious scripting.

A company may utilize BPO due to cost considerations, or simply because they do not have the expertise to deal with certain aspects of business. Many companies have come under criticism for using BPO to cut costs, especially in regards to call centers. Companies in western countries, particularly the United States, are finding that countries like India offer the services they need at an excellent price. This is due to the fact that many of these countries have a well educated labor pool, high unemployment rates and a low cost of living. In India, which had approximately 63% of the offshore BPO market in 2006, labor is cheap, and employees are sometimes better educated than higher-paid workers in the US.

Posted in China sourcing. Tagged with , , , .

By admin
November 1, 2010

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How to Impress Others at a Job Fair

Job fairs are high-pressure environments where every participant is hoping to impress potential employers. The competition can be fierce at a job fair, especially when unemployment is high in an area. At the same time, employers are trying to impress candidates with their companies and employment opportunities so they can attract the best workers.

  • Step1

Dress in your best suit or casual working attire to make a good first impression. While you may carry a great résumé and have solid credentials, employers often make an assumption about your abilities based on their fiJob Fairrst impression. Instructors at Portland Community College advise job seekers to dress conservatively and avoid low-cut or tight-fitting tops and short skirts. While you want to stand out, you don’t want to be remembered for being garish or inappropriately dressed.

  • Step2

Research the companies that will be exhibiting at the job fair so you can impress employers with your knowledge of the company. Study the history of your top companies and learn the names of their CEOs and top managers and what kinds of products and services they provide. Knowing where the companies stand in relation to the competition also can provide fodder for intelligent conversation while giving you an idea of possible opportunities.

  • Step3

Prepare a one-minute introduction speech about yourself and your qualifications. Include a sentence or two about your goals and the kind of job you are seeking. By being prepared with what is often referred to as an elevator speech, you won’t have to spoil your first impression by mumbling and faltering.

  • Step4

Carry yourself with confidence. Look recruiters in the eye and shake hands firmly. Stand erect with your shoulders back and smile. Think of something that makes you happy as you move from booth to booth to maintain the gleam in your eye. Employers see a smile as a sign of a positive attitude and self-confident demeanor.

  • Step5

Talk to recruiters by yourself even if you attend the job fair with friends. Southwest Minnesota State University career services advise students who are job-hunting at fairs to approach recruiters solo and with enthusiasm. Give the recruiter your complete attention and make sure your cellphone is turned off.

Tips & Warnings

  • Be prepared with a résumé, even though many recruiters at job fairs request that candidates go to the company website to fill out an application and prefer not to accept hard-copy résumés anymore. Carry a leather portfolio to hold your résumés and store informational pamphlets and literature you might receive from recruiters.
  • Never disparage another employer to a recruiter. Avoid talking about the bad economy or the lack of jobs in your area. Negativity is seen as a bad trait and can diminish your standing with a potential employer.

Posted in Career. Tagged with , , .

By admin
October 22, 2010

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Boss: A stronger bond to employees when in recession

The US recession has driven bosses and their employees closer together and only 30 percent of employees want their boss’s stressful job, recruitment firm Adecco Staffing US found in a poll tied to National Boss Day in mid-October.

But the survey found that some people are willing to go to greater lengths to keep their jobs in a tough market.

Almost one in five said they would have a fling with their boss if it would help their career and a similar number share connections with their boss through social networking sites like Facebook or LinkedIn.

Striving for the boss’s job is not a top priority, though.

Employees with children aged 18 or under at home are more likely (39 percent vs. 23 percent) to want their boss’s job to help pay for education and other costs.

With unemployment brushing up against 10 percent, those still working “feel like they were the chosen ones, like they got a vote of confidence from their boss that they’re good enough to be retained,” said David Adams, Adecco Group North America vice president of learning and development in Seattle.

“Recession tested people’s values and many realize that it’s not all about work,” said Adams, adding that workers saw peers climb the corporate ladder only to be laid off.

More than three-quarters of bosses said they felt stronger bonds to their employees than three years ago, and 61 percent of the employees agreed.

This may not change any time soon, even though the private-sector National Bureau of Economic Research last month called the recession over as of June 2009.

Analyst Colin Gillis of BGC Partners, said: “Clearly their earnings look good. Top line is healthy, expense controls are good.”

“Although it’s technically over, nobody feels that it is over,” said Adams.

Boss and employee relationship

Posted in Business management. Tagged with , , .

By admin
October 21, 2010

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Three Effective Management Styles

Being an effective manager means knowing when to use the right management style. Some styles, for instance, are more people-oriented, while others tend to focus on a project or product. The management style you select will depend on your people’s skills and knowledge, available resources (like time and money), desired results, and, of course, the task before you.

Your job is to select the management style that works best for any given situation. Managing without a specific style geared to a specific set of circumstances can slow you down and even lead to costly mistakes.

Get your people to do their best work by using one or more of the following effective management styles:

1. Participatory Style

Here, it is critical to give each employee an entire task to complete. If that’s not possible, make sure the individual knows and understands his or her part as it relates to the project or task. When people on your team know where they fit in the big picture, they’re more likely to be motivated to complete the task.management style

Take the time to explain the details and why their role is important. Get their input on the task and its significance. This will give them a sense of value, and hopefully, encourage them to take ownership of their piece of the project. Do your best to make sure your employees understand the tasks. Ask questions that might seem obvious; the asking alone will reinforce an employee’s understanding of the work.

If your tasks are divided among groups, coordinate each group’s contribution so that everyone knows where and how they fit in. Make a concerted effort to minimize obstacles and difficulties that arise. Let people know that you’re happy to clear their paths so when a problem does arise, you are informed in a timely manner.

Reward not only jobs well done, but motivation as well. This will maintain the momentum and let people know that you have faith in their efforts.

2. Directing Style

Sometimes a situation will call for a direct style of management. Perhaps a tight deadline looms, or the project involves numerous employees and requires a top-down management approach. Here, a manager answers five questions for the employees: What? Where? How? Why? and When? Let them know what they need to do, how they’re going to do it, and when they must be finished.

This style may seem cold and impersonal, but you still have an opportunity to be a motivating and accessible manager. For example, when you assign roles and responsibilities, provide helpful tips or share experiences you encountered with a similar project.

With this style, don’t be afraid to set specific standards and expectations. Your communication, therefore, must be detail-oriented, unambiguous, and free of buzzwords and jargon. You also need to set clear, short-term goals like, “Your goal is to complete three reports a day.”

In addition, be willing and able to make decisions quickly. Midway through a task, for example, you may direct someone to switch from doing one thing to another. Let your people know from the outset that this may occur; it will help them transition more smoothly. Make sure, as well, to reward and recognize jobs well done.

3. Teamwork Style

If you want to expedite a project and optimize a process for completing that project, managing by teamwork is the way to go. When you motivate people to pool their knowledge, the results may exceed your expectations. Often, teams can tackle problems more quickly than what you can accomplish on your own. The give-and-take can create a process that you can replicate in other projects.

Remember that successful teamwork depends on coordinated efforts among the staff, as well as solid communication skills. Reports must be clear and concise. Presentations must convey information that leaves nothing unanswered. Understanding logistics is critical, too. Probably most important, however, is your willingness to credit the team for its success and independence, rather than your savvy management skills.

Indeed, when you get around to employee evaluations, remember to recognize those who were able to collaborate and maintain a team spirit, especially under pressure.

Posted in China Business Development. Tagged with , , .

By stella
October 20, 2010

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