Tag Archives: economics

Are Catalogs Still Useful?

catalogs

In the age of social media and digital shopping, is there still a place for paper catalogs? The short answer is “yes” as retailers continue to use direct mail to supplement both brick-and-mortar and online shopping. However, catalogs are not without problems and costs, including rising postage, production, and shipping expenses.

In a research study conducted by the American Catalog Mailers Association, findings included that consumers who receive and use catalogs consider them far more useful than other types of direct mail. Recipients stated that they open and look at two-thirds of the catalogs they receive each week. Almost all consumers who receive catalogs have made a purchase, and half do so within 30 days of receiving a catalog. On average, shoppers aged 55 and over receive more catalogs than younger shoppers, and women look at a higher percentage of catalogs than do men.

But do shoppers send in order forms or call 800 numbers to place orders? No. The most used method is to look at a catalog, and then purchase through the company’s Web site. Among other findings from the study was that consumers who receive catalogs spend an average of $850/year on catalog purchases. Catalogs remain a viable channel for consumers to promote goods and sell products.

Group Activities and Discussion Questions:

  1. Bring printed catalogs to class for students to examine.
  2. Poll students: How many receive catalogs? How many purchase from catalogs?
  3. Research paper from American Catalog Mailers Association:

https://www.memberize.net/clubportal/clubdocs/2129/ACMA%20Consumer%20Survey%20Final%20release.pdf

  1. For fun, show the IKEA video about its new catalog:

http://youtu.be/MOXQo7nURs0

  1. Discuss the five components of an environmental analysis (external forces on a market): social trends, technology, competition, regulatory issues, economic trends.
  2. Divide students into teams and have each team fill out a grid for the five forces.
  3. Debrief the exercise by compiling information on the white board. Does this give a good picture of the situation faced by catalogs?

Source: New York Times

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Global Statistics Can Be Fun!

Let’s face it, unless someone is an economist or a statistician, statistics are tough to get excited about. Anyone who has ever struggled to present global statistics has experienced dread at seeing the audience’s eyes glaze over in boredom. Even the most interesting global facts about health and economics leave some people snoring. But one man, statistics guru Dr. Hans Rosling of Sweden, has a way of presenting global statistics in such a manner as to make history and statistics come to vivid life.

Using a unique statistical presentation and mapping program, Dr. Rosling presents global statistics in a manner that illustrates not only the differences between the Western World and the Third World, but also the ways in which countries are similar.

Group Activities and Discussion Questions:

1. Before showing the video, have students determine what they think are some of the important global factors that drive growth. What do they think are the factors which are most critical to growth?

2. Ask students to answer the first question posed by Dr. Rosling – before they see the video: Which country has the highest mortality rate of these five pairs?

  • Sri Lanka or Turkey (Answer: Turkey)
  • Poland or South Korea (Answer: Poland)
  • Malaysia or Russia (Answer: Russia)
  • Pakistan or Vietnam (Answer: Pakistan)
  • Thailand or South Africa (Answer: So. Africa)

3. Ask students: What do they think of when they think of the Western World vs. Third World nations?

4. Show the video at TED Talks

5. Note to instructors: Rosling has several other fascinating TED Talks videos that might be useful for future classes. Also check out his software program available for free use at www.gapminder.org.

Source:  http://www.ted.com/talks/lang/en/hans_rosling_shows_the_best_stats_you_ve_ever_seen.html

 

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