Published on: 24 Sep 2017
Did you have anything for breakfast this morning before you headed to work?
If I’d asked that question a few years ago the chances are that the reply would have been positive and brought back nice memories of what had been eaten earlier at home.
Things are changing though and according to a recent study for the Grocer magazine, nearly half of those surveyed who were between 16 and 34 skipped breakfast altogether. Even those who had breakfast were only likely to grab a croissant from a coffee shop on the way to the office or eat a breakfast biscuit.
The report said that “Millennials may be more clued up to food and health trends than older generations, but in terms of traditional breakfast there are empty seats at the table”.
Whilst skipping breakfast isn’t necessarily that good for your health, there are also financial health consequences for companies who produce breakfast cereals. In the UK, sales of cereal over the last 12 months are down by £40 million.
A number of companies are trying to regain some of these lost sales though.
Weetabix Limited, the company that produces yes, you guessed it… Weetabix, are now producing biscuits, bars and breakfast drinks that can be consumed on the go or taken to work to be eaten.
Weetabix has been made in the UK since 1932 but in 2012 was sold to Shanghai-based Bright Food.
Bright Food had hoped that as part of the general trend to more western eating habits in China, eating cereals would become more popular. Whilst sales of Weetabix have increased in China, the market share was disappointing as the traditional rice and steamed bread maintained their popularity for the first meal of the day.
Weetabix has now changed hands and was purchased by the US company Post Holdings for $1.7bn (£1.3bn).
Post Holdings already own the Shredded Wheat and Bran Flakes brands so the acquisition of Weetabix seems a good fit.
Back to breakfast on the go though and if you’re one of those people who struggle to get out of bed in the morning and miss breakfast then look on the bright side, if you’re getting into the office late then at least you’re closer to lunchtime.
Published on: 03 Feb 2017
Does your weight affect the amount of money you earn?
That’s an interesting question and researchers from the universities of Strathclyde in Glasgow and Potsdam in Germany have come up with a potential answer.
They analysed data from nearly 15,000 working men and found that men within that the recommended Body Mass Index (BMI) health range earnt more than those who were outside of the range.
Individuals who were underweight on the body mass index were found to earn 8% less than those who were in the top end of the healthy bracket. They found that the effect was more prominent in manual jobs where no doubt the extra strength of the guys in the healthy weight bracket helped increase their earnings.
What was perhaps surprising though was that there was also a difference in earnings in white-collar office jobs. They found that in the more middle-class occupations the rewards peaked at a BMI of around 21.
It wasn’t just men who were impacted though. The study also looked at the weight and earnings of 15,000 German women and found that the slimmest earnt the most and the obese the least.
Jonny Gifford, of the Chartered Institute of Personnel and Development was quoted in the press as saying “it is depressing that, in this day and age, looks are in any way a factor in how much people are paid”.
I have to agree with him as organisations should employ people on the basis of their abilities as opposed to how heavy they weigh.
Anyway, best dash as I’ve got a packet of biscuits to finish…
Published on: 08 Oct 2016
How much do the Louis Vuitton handbags cost?
A lot is the simple answer but some recent research by Deloitte’s has shown that the price of luxury items varies significantly around the world and foreign exchange movements play a big part in that valuation.
According to Deloitte, in US dollar terms London is now the “cheapest” city to buy designer and luxury goods.
Since the Brexit vote in June, at the time of writing the pound has fallen by more than 17% against the dollar (i.e. you need 17% more pounds now to buy the same amount of dollars you would have received back in June).
According to the research, on 7 October a Speedy 30 handbag from Louis Vuitton costs £645 ($802) in London, €760 ($850) in Paris and $970 in New York. China was the most expensive place to buy it with the handbag costing 7,450 Yuan ($1,115).
Nick Pope, fashion and luxury lead at Deloitte, told the BBC that “the trend in luxury pricing in the UK is being driven mainly by the depression on the sterling – thus making the same item more affordable in the UK than in any other luxury market”.
Of course, if your income is in British pounds then the cost to buy the handbag in London remains the same. If however your income is in another currency such as US dollars then it is $313 cheaper to buy in London than in China for example. If you are stocking up on your luxury handbags should you be planning a trip to the UK?
It’s not just the ladies from outside the UK who are buying luxury handbags who could be benefiting from the exchange rate movement.
Any male readers may be interested to know that a Brunello Cucinelli cashmere V-neck sweater now “only” costs £650 ($843) in the UK compared with $942 in France and $995 in the US.
$843 for a sweater?
Please form an orderly queue as you rush to the shops to buy one. Or maybe two…
Published on: 26 Mar 2016
Creativity and innovation in any organisation should always be welcome and whilst technology is often at the forefront of innovation it is sometimes the really simple ideas that can create benefits.
Unfortunately, in this particular situation it didn’t quite go according to plan.
The initial idea was good. Officials in charge of the 1,200 acre Minto-Brown Island Park in Oregon in America were concerned that several invasive plants were taking over the park and killing off a number of the native flora including maple and hazelnut trees.
The solution put forward was to create a crack team of 75 goats who would eat the invasive plants such as the Armenian blackberry and the English Ivy which would then mean that the native flora would thrive.
75 goats were duly obtained from a company called Yoder Goat Rentals (as an interesting aside I wonder how many of you were aware that you could rent a team of goats. I certainly wasn’t.)
The goats got down to work but 6 weeks later the project was cancelled.
There were a number of issues.
Firstly, the goats were fairly relaxed about what they ate. In terms of the invasive Armenian blackberry for example they decided to eat the tasty blackberry leaves but left the prickly bramble. This resulted in the plant carrying on growing.
Secondly, they didn’t show any distinction between the (tasty) maple and hazelnut trees which they were supposed to be helping and the invasive plants.
Thirdly, the total cost of the 6-week pilot programme was $20,719 which was nearly 5 times the $4,245 cost for a normal parks maintenance man supported by a prison inmate work crew.
Finally, according to a report to the city council the goats “had a barnyard aroma”.
In summary, a nice try but it didn’t quite work. Still, as any successful business person will surely agree, you don’t progress unless you try. Better luck next time and at least the goats had a nice 6-week holiday in a lovely park…
Published on: 10 Mar 2016
The Indian car manufacturer Tata Motors, part of the Tata Group, one of India’s largest conglomerates recently skilfully averted what could have been a major international marketing mistake.
Tata motors, who also own the Land Rover and Jaguar brands, are about to launch a new small hatchback car. They debuted it at the recent 2016 Auto Expo as the Zica (short for Zippy Car) but following the rapidly spreading Zika virus which has infected over a million people in Latin America and which was declared an international health emergency, they decided to change the name to avoid any unwanted links between the two names.
The car will now be launched as the Tiago and the change was impressively dealt with by the company. They reacted quickly to the similarity and ran a competition via social media for the public to choose the new name. Over 30,000 names were put forward in the competition but Tiago was selected by the public as the winner.
However, if you look up the definition of Tiago in the Urban Dictionary the top two definitions are firstly, “Tiago is a great Portuguese king” and secondly “Tiago is a sex God who is…”.
I’m not sure the Tata marketing guys looked at the Urban Dictionary before agreeing to Tiago but in any case, if you see a man driving a Tiago then surely he’s either the Portuguese king or a sex God…
Published on: 05 Feb 2016
Picture the scene. You set up a company with two of your university friends. Things are going well but as is often the case with start-ups the work is hard, the hours are long and there is no initial salary.
Chris Hill-Scott was one such entrepreneur who founded a tech start-up business back in 2008 together with fellow Cambridge University graduates Jon Reynolds and Ben Medlock.
After setting up the company and getting it off of the ground, Mr Hill-Scott decided that being an entrepreneur was not for him. He resigned as a director, left the business and transferred his shares in the company to Mr Reynolds and Mr Medlock in exchange for a bicycle.
We’ve all done things that we have regretted but in hindsight Mr Hill-Scott should have stayed in the company. He now works for the Government Digital Service creating websites and it has been reported that the average salary for that type of job is in the region of £55,000.
The two gentlemen he left behind in the company though have faced a different journey. The name of the company the guys set up is SwiftKey and although you may not have heard of the company, you have almost certainly used their technology.
SwiftKey developed the predictive text technology which suggests the next word a user is about to type on their smartphone or tablet. It has been incredibly successful and their software is used on more than 300 million smartphones and tablets around the world.
The company estimates that the software it developed has saved over 10 trillion keystrokes for its users. Let’s just think about that figure for a moment. 10 trillion keystrokes – that amounts to more than 100,000 years of typing time and represents an awful lot of thumb pain which has been avoided.
SwiftKey is an incredibly successful company and yesterday Microsoft purchased the business for £174 million (or in dollar terms, just over one quarter of a billion dollars).
Mr Reynolds and Mr Medlock will both make more than £25 million each whilst Mr Hill Scott will receive nothing from the sale as he transferred his shares in the business in exchange for a bicycle.
It’s not clear how much the bicycle is worth but I don’t think you have to be a technology expert to predict what words that Mr Hill-Scott was probably thinking when he heard the news the business he helped set up had been sold for £174 million and he had received nothing….
Published on: 12 Jan 2016
Most of us have been there. Sat in a meeting when somebody decides to use “management speak” or “corporate jargon” to make something sound more impressive than it is.
You’ve probably heard of the phrase “think outside the box” but what about “let’s not boil the ocean”?
Michael Sugden, chief executive of the advertising agency VCCP, recently put together a list of the most irritating metaphors used in the corporate world.
He wrote in Marketing Magazine that the increased use of corporate jargon in recent years has resulted in meetings degenerating “into a quagmire of nonsensical verbal piffle”.
He put together his top 10 of the most annoying phrases and in reverse order the results are shown below.
Oh and in case you’re “not singing off the same hymn sheet” I’ve translated the “management speak” into English in the italics below the phrase.
10. Think outside the box
– come up with new ideas…
9. I may have a window for you
– I can see you on…
8. Content is king
– first used by Bill Gates in 1996 to indicate that content would drive the success of the internet. It now appears to be used for random purposes in meetings…
7. Let’s not boil the ocean
– let’s not make this too complicated…
6. Level playing field
– keep things equal…
5. Let’s workshop this
– let’s spend far too long talking about this in a meeting…
4. Shift the dial
– to be honest I’m not 100% sure but possibly means talk about something else. Either way it sounds very dramatic in a meeting…
3. Let’s socialise this
– let’s talk about this…
2. Fail forward
– when something doesn’t work but we try to learn from it (if we still have a job after the error of course…)
1. Growth hacking
– again, I don’t think anyone is 100% sure what it means but it does sound very impressive…
So, there you go. A list of 10 phrases to [impress / annoy – delete according to how you feel about the phrases] your colleagues at meetings.
Published on: 07 Dec 2015
It’s never a good feeling when you receive a parking ticket. You may only be a few minutes late back to your car but if you’ve been issued with a penalty notice then there’s not a lot you can do apart from pay the fine. Similarly if you park in an illegal place and are issued with a penalty notice then again you’ll have to pay the fine.
So is this fair? Well I guess it is as you can argue that public authorities have an obligation to maintain parking order on the streets and police officers and traffic wardens in most countries have the power to issue fines for inappropriate parking.
But it’s December and the festive season is nearly upon us. Surely therefore there should be some festive spirit and there should be some leeway given on parking fines??
“Letting people off of a parking fine because it’s Christmas!” – well, that’s certainly a debatable point and I can’t see that happening in a lot of places.
Over in America though one Authority is offering a middle ground when it comes to parking tickets.
The City of Lexington Parking Authority in Kentucky has launched a “Food for Fines” scheme.
From 16 November to 18 December, anyone who receives a parking ticket issued by the Lexington Police Department or parking authority will be able to pay for it using cans of food instead of cash.
The food donated will be passed to the local food bank where it will then be donated to people in need (there are 4 food banks in Lexington and they provide over 120,000 meals a day to people across Kentucky).
For every 10 cans of food donated, $15 will be taken off of the parking fine.
This is the second year the scheme has been in operation and Gary Means, Executive Director of LexPark said “Last year, citizens brought in over 6,200 cans of food as payment for over 600 meter citations”.
That’s an impressive figure and I wonder whether the local shops will be stocking up on very small cans of food in anticipation of a similar number of parking violations…
Published on: 23 Jul 2015
She’s an interesting lady.
Her full name is Barbara Millicent Roberts. She’s 56 years old and has had over 150 different careers including being a lifeguard, a doctor and a Spanish language teacher. Perhaps most impressively of all she travelled into space in 1965, four years before Neil Armstrong walked on the moon.
She’s managed to do all of this despite being only 29 cm tall.
The Barbie doll is the centrepiece of many a child’s toy cupboard and it’s been estimated that over a billion of them have been sold in more than 150 countries since they were first introduced in 1959.
There have been a number of business issues faced by Barbie recently. Even though there’s an Accountant Barbie, I should in fact clarify that and say that there have been a number of business issues faced by Mattel, the owner of the Barbie brand.
Some of you may have heard of Bratz dolls.
Bratz dolls were a competitor to Barbie dolls back in the early 2000s and they were pretty successful. They were so successful that by 2004 they had taken more than 40% of the UK toy doll market and had in fact also taken the top spot for sales of dolls which had been held by Barbie since records began 10 years earlier.
In 2006 Mattel sued MGA Entertainment, the owners of the Bratz brand as they claimed that the Bratz doll creator Carter Bryant was working for Mattel when he developed the idea behind Bratz.
In essence Mattel argued that as they were paying Mr Bryant to work on Mattel matters and not those of another venture the Bratz doll idea was Mattel’s and not MGAs.
Back in 2008 a Californian judge agreed with Mattel’s claim and told MGA to stop making and selling Bratz dolls and also ordered MGA Entertainment to pay Mattel $100 million in damages.
However, MGA weren’t happy with this decision and the case went back to court in 2011 where a federal jury delivered a verdict supporting MGA.
Now whilst the court cases between Mattel and MGA are all very interesting, if you’re a parent of a young daughter what is probably of more relevance is that the Bratz dolls are being relaunched onto the market this coming weekend.
So, if you’re queuing up with your daughter to buy a Bratz doll this weekend you can impress her with your background knowledge of who owns the brand as well as let her know that the UK doll market is the second largest and second fastest growing segment of the UK toy market and has grown 11% over the last year to reach £288m.
I’m sure she’ll be very impressed with your discussion and won’t at all be interested in the doll she’s about to get….
Published on: 27 May 2015
It wasn’t long ago that you only saw almonds in health food shops but things are changing quickly.
The health benefits of almonds are extensive. They are a rich source of vitamin E, calcium, iron and zinc to name just a few items. They can be eaten raw, made into almond oil or almond milk. They are one of nature’s super foods.
If almonds have been around for a long time, why is there suddenly such an interest in them?
If you link it to the environmental analysis model PESTEL you could argue that one of the areas within the “Social” element of PESTEL that has changed recently is that people are more health aware (if you are tucking into your burger and chips whilst reading this I should stress that health awareness doesn’t necessarily mean everyone undertakes healthy eating!)
However, it does seem that people around the world are eating significantly more almonds. So much so that there is a rush to plant almond trees.
The world’s almond crop is estimated to be worth nearly $5 billion per year and the centre of almond production is California where 80% of the world’s almond crop is produced. During the last three years alone 150,000 acres of almond trees have been planted in California.
Whilst the ever increasing number of almond eaters around the world are no doubt happy about this, there are a number of people who are far from happy.
California farmers have been removing tomato, melons and other crops to replace them with almond crops. There is a problem though as the almond tree require significantly more water than the other crops.
To produce a single almond requires about 4.5 litres of water. Multiply that by the millions of almonds that will be produced on the land and you can see what an impact it will have on the local water supply.
California has been suffering droughts for a number of years and there are certain water restrictions in place for individuals. So far, the almond growers have escaped these water restrictions but a number of activist groups have been set up and this situation could soon change.
Will we see a lot of thirsty almond trees in California in the near future….