Two-thirds of Millennials, who are 18 to 34, save the cash left over from their paychecks and 18% of them pay off debt, according to a study by market research firm Lab42, out Tuesday. Most of their debt is credit card and student loans. How will they manage debt as they take on mortgages and other major loans, asks Gauri Sharma, CEO of Lab42. It's also unclear how well they will invest for their future. Now 43% of them describe themselves as conservative investors, according to a study released in February by management consulting firm Accenture.
Pew Social Trends
During the first two years of the nation's economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau data. The data says from 2009 to 2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3,173,895 from an estimated $2,476,244, while the mean wealth of the 111 million households in the less affluent group fell …
San Francisco Chronicle
Amazon supports the Marketplace Fairness Act, which would give states the right to collect sales tax from "remote" (out-of-state) internet retailers. Amazon would rather the feds laid down the rules, instead of individual states (like California). EBay hated the idea when California began pushing for it. EBay CEO John Donahoe, on the other hand, did a mass e-mailed to the channel's members (and newspaper editorial writers) telling them to "tell Congress 'No!' to this."
The German division of Hyundai's Korean ad agency Innocean has -- apparently -- gone with some dark humor to tout the Euro and home market iX35 electric crossover. The ad shows a middle-aged man who gets into his car parked in a closed garage. The man shuts his eyes and starts inhaling deeply. Somber music plays. Pan to the exterior of the man's house some moments later; he's alive, out of the car and opening the garage. The tagline reads, "The new iX35 with 100% water emissions." No word on whether the company used it but Louis C.K. has my …
The bombs set off in Boston during the Marathon involved pressure cooker kitchen pots filled with gunpowder and shrapnel. They are easy to buy. But Williams-Sonoma stores in the Boston area have temporary pulled them from the shelves. "It's a temporary thing out of respect," the manager of one store told a Patch reporter. Other retailers in and around Boston have not done the same.
Procter & Gamble Co. is expected to report a $2.7 billion profit for the quarter that ended March 31. The maker of Tide detergent and Olay moisturizer reported a $2.4 billion profit in the same period a year ago. Analysts expect P&G's overall sales to climb 2.6% to $20.7 billion. P&G has promised organic sales growth of 3 to 4%.
Watch out Home Depot. The Wisconsin-based home improvement megastore chain Menard, which has only 4.8% of the mega store market share, versus Home Depot and Lowe's combined 73.4% of industry revenue, opened its first Metro Detroit store opened in February to record crowds. The company, with 23 stores in the state, is building more. "We recently opened two very successful stores in Clio and Davison, just 45 minutes north of the Metro Detroit area. Both stores have a good chunk of their business from Detroit-area ZIP codes," said company spokesman Jeff Abbott. "We wanted to provide more access and better …
Unilever has admitted it must do more to communicate the taste and health benefits of its spreads and margarine products in Europe, such as Flora and Bertolli as consumers look for healthier alternatives, as it reports a "weak" performance in its food division in the first quarter.CEO Paul Polman added a "tough promotional" environment meant volume sales of its spreads brands fell despite product innovations such as Flora Buttery and liquid margarines launching in Europe.
Martin Sorrell, the CEO of WPP said digital now accounts for 34% of WPP's media investment, amounting to some $72 billion, rising "from zero to over one-third in about ten years, the age of Google," he said. Google, he said, is the second-largest recipient of that digital spend at the moment, at around $2 billion for the quarter, but that it will soon overtake the single biggest beneficiary at the moment, News Corp.
Nation's Restaurant News
A&W Restaurants' 39-year-old mascot, Rooty the Great Root Bear has returned as a social media voice. The strategy is run by Liz Bazner, the 1,200-unit Lexington, Ky.-based chain's social and digital communications strategist. When the Rooty character was ejected from LinkedIn professional networking site for being fictional, the company started a Facebook and Twitter campaign with the hashtag #RootyIsReal. Rooty and A&W have more than 4,000 Twitter followers and more than 155,000 Facebook fans. Bazner said Rooty would soon be appearing in a series of six-second-long videos on the Twitter-linked Vine platform.