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Peter Smith: Is Your Comp Plan a Hiring Hindrance?If you want to attract good salespeople and generate a stream of “sleeping money” for your jewelry store, then you are going to have to pay.
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Help, I got a ‘C’ in statistics
Elle, one of the few fashion mags I read from cover to cover, is releasing a survey tomorrow. And it's at the top of my must-read list. As the barely passing grade on my college transcript indicates, jonesing for statistics...
Elle, one of the few fashion mags I read from cover to cover, is releasing a survey tomorrow. And it's at the top of my must-read list.
As the barely passing grade on my college transcript indicates, jonesing for statistics is not a habit of mine. But when I read a summary of the researchers' results in a recent Brandweek article, I was perplexed.
How could a survey taken in fall 2007 label women with a median household income of $62,000 "affluent" or "recession-proof" shoppers?
I was really baffled when I read that only 65 percent of these women are in the workforce. If you're a housewife or stay-at-home mom splitting $62,000 more than two ways, "affluent" or "recession-proof" are definitely questionable labels for you. Maybe, the other 35 percent are kept women with hefty allowances.
Then I read that only 57 percent of the women identified as affluent or recession-proof spent $2,000 or more per year on clothes. I thought to myself either this article was written back in the dot-com era when salaries were high and prices were low, or I need to find a new place to shop and attend an SA (Shopper's Anonymous) meeting.
Aside from my concerns about the summary, there's good news for designers, retailers and others who profit from those with a penchant for fashion. Eighty-one percent of affluent or recession-proof women are more concerned about getting what they want than the cost of it. And 57 percent are willing to splurge on jewelry and watches.
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