Dr. John Johnson is a PhD economist and the CEO of Edgeworth Analytics, a DC-based data consulting firm that empowers professionals to unlock data’s potential. In this episode, we discuss: Economic data on time and possible date on when the economy may start to recover and thoughts on the rehiring process for unemployed COVID-19 workers; Economic analysis on your business, demand for what you sell, remote working and extra costs potentially of reopening; Risk of infections of workers vs. running a remote business data points; Customer base analysis; and Process for you to dig deep into data for your department and business to help make business decisions in the pandemic.
Cliff Farrah is President and CEO The Beacon Group, Farrah has spent more than 25 years advising clients on organic and inorganic growth strategies and tactics in Healthcare, Technology, Industrial, Energy and Defense marketplaces. In this episode, we discuss: How the pandemic accelerates your comp set; How to choose which competitor to overtake; Near and long-term market disruption considerations; How to identify who in your market is still spending money; and How amid to right-size your organization.
Patti Temple Rocks is the author of the book called "I'm Not Done: It's Time to Talk About Ageism in the Workplace." She is also a senior partner at a marketing agency in Chicago. In this episode, we discuss: Why mature workers are the last ones you should consider cutting; Conversations to have with older workers in choosing furloughs, layoffs and payroll reductions; Signs a company doesn’t value older workers; and How late career workers can increase their value amid COVID-19.
Jonathan Slain is author of “Rock the Recession: How Successful Leaders Prepare For, Thrive During, and Create Wealth After Downturns.” In this episode, we discuss: What kind of recession we are currently in; How to measure your “Recession Readiness”; How to organize a tier system for furloughs or layoffs; and Opportunities that can occur in difficult economic times.
Looking into their crystal balls, a couple of ad industry analysts have come up with intriguing projections for what 2020 holds. Michael Nathanson, of MoffettNathanson believes TV media companies have great opportunity.
A key fact often ignored in the current debate on the lasting effects of the recession is the wide variation in the way American consumers have internalized the recession experience. A new study, entitled "Marketing to the Post-Recession Consumers," by the marketing strategy and research firm Decitica, addresses this gap by examining the differences in how consumers have responded to the recession. In the study, Decitica identifies four distinct consumer segments emerging from the recession: Steadfast Frugalists, Involuntary Penny-Pinchers, Pragmatic Spenders and Apathetic Materialists.
Approximately 69% of all American adults — fully 88% of internet users — have gone online to get help with personal economic issues that have arisen in the recession and to gather information about the origins and solutions to national economic problems.
The NPD Group, Inc. sees that for back-to-school 2009 consumers will continue to slow their spending but that the decrease won't be as big as the one seen in 2008. Overall, consumers tell NPD that they aren't in a hurry to shop. This year there was a 5% increase in the number of consumers saying they either 'haven't started' or 'don't plan to shop' for back-to-school as of July 2009.
The overall OTC market saw increases of 3.2% during non-recession years and only 1.2% during recessions according to the latest research Impact of Recessions on the U.S. OTC Market from worldwide consulting and research firm Kline & Company.
Fewer consumers expect to reduce their spending on back-to-school items compared to last year, although economic concerns will continue to weigh on their shopping plans, according to a new survey by Deloitte. The number of people on the look out for value is up, as 74% plan to buy more items on sale.
More than 48% of U.S. adults believe that a lack of advertising by a retail store, bank or auto dealership during a recession indicates the business must be struggling. Likewise, a vast majority perceives businesses that continue to advertise as being competitive or committed to doing business.
"…in a recession ‘value' takes on a different meaning in the eyes of the client," writes sales consultant Paul Collins in a recent article for Rain Today. Collins presents eight tips to boost your business's value during this rough economic time.