Wednesday, August 26, 2015

Millennial BetaBlazers



Blink:
Marketing to Millennials continues to be the “Buzz du Jour.”  I have posted numerous articles about Millennials; marketers are categorizing this demographic group into buckets so they can better understand what motivates their buying behavior.  The latest bucket that piques my interest: Millennial BetaBlazers

Read On:
The Boston Consulting Group, back in 2012, released a study that revealed not all Millennials are the same – “slackers and entitled.”  They defined six buckets.  Recently, global media agency Carat released their survey findings based on 14 thousand Millennials age 15-to-34.  Their conclusion: Once you dig below the available digital cookie level data, the “hyper-connected, digital extroverts” bucket known as “Trend-Netters” only applies to 42 percent (36 million) of Millennials.  When they drilled down further and examined attitudinal/behavior data, they discovered some new buckets.

So who are the true Millennial trendsetters?  Meet the BetaBlazers!  They (16% of all Millennials) operate outside the box.  Very worldly thanks to travel and aggregating information from numerous resources.  Consequently they are more adventurous, risk takers compared to their peers.  They do not always subscribe to popular brands, but connect with those that tell a story and meet their needs.  Quality and exclusivity are important purchasing triggers.

Do you know any Millennial BetaBlazers?  Better yet, do you have to be a Millennial to be a BetaBlazer!   


Tuesday, August 18, 2015

Paucity



Blink:
Great word!  pau·ci·ty noun  The presence of something only in small or insufficient quantities or amounts; scarcity.

Read On:
My paucity list:

  • Family dinners, family vacations.
  • Enough overhead space, leg room and bags of peanuts on airlines. 
  • Customer service (now known as customer care).
  • Good drivers.
  • Sixty minute lunches.
  • Green urban public spaces.
  • Grammar.
  • Originality.
  • Leadership.
  • Common Sense!

Additional suggestions welcomed.


Thursday, August 13, 2015

(Self) Made In China



Blink:
“Ability takes you to the top.  Character keeps you there.”  – Anonymous 
China has more self-made female billionaires than any other country.  The most remarkable is Zhou Qunfei, the world’s richest self-made woman.                                                                                      

Read On:
Born in a farming community, rather than helping her family raise pigs and ducks for food and extra money, Ms. Zhou dropped out of school at 16, moved to live with her uncle’s family in order to get a higher paying job.  She landed a factory job in Shenzhen making watch lenses for roughly $1 a day.  The rest is history.

In short, Ms. Zhou honed her factory skills over the years thanks to hard work and dedication.  Today at the age of 44, she leads Lens Technology which is valued at approximately $7.2 billion.  Her company is one of the leading global suppliers of the glass covers used in laptops, tablets and smartphones.  Most of her company’s eggs are in two baskets; 75 percent of its revenue comes from Apple and Samsung.  Formidable customers!   

“Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius 

Zhou Qunfei: (Self) Made in China!


Thursday, August 6, 2015

Why Leave Home?



Blink:
A new study by the Pew Research Center revealed that Millennials (18-to-34-year-olds) are less likely to be living apart from family members than during the Great Recession.
  
Read On:
The reason young adults are living with their parents:

1.    Free* room and board including unlimited snacking ____
2.    Save money to payback student loans and eventually buy a home ____
3.    Wash, dry and fold laundry service ____
4.    A home base for exotic travel overseas ____
5.    No curfew and unlimited sleepovers ____
6.    All of the above ____

* Does not include mobile bills

Why leave home!


Tuesday, July 28, 2015

A Toy Story – The Final Chapter?



Blink:
Being a native New Yorker, I was disappointed to learn that F.A.O. Schwartz closed its doors earlier this month at its iconic Fifth Avenue location.  Is this the final chapter for F.A.O. Schwartz?
  
Read On:
Not according to Toys “R” Us that has owned the store since 2009.  A spokesperson for the toy chain indicated they made a decision to vacate the location due to the rising costs of operating a retail location on Fifth Avenue in New York City.  Translation: The landlord Boston Properties was scheduling a rent increase, but bottomline fewer giant stuffed animals were going out the door to make the store profitable, since people preferred playing with the apps and touch screens at the Apple Store located nearby.

Is this the final chapter for F.A.O. Schwartz?  Stay tuned – Toys “R” Us indicated they are looking at a new space close to Times Square.  For me it will not be the same as stopping to look at the classic window displays of Bergdorf Goodman, another historic Firth Avenue store during the holidays, then crossing the street to browse at F.A.O Schwartz.

Hopefully, this is not the final chapter and kids once again will be able to play the giant toy piano.