Category: Purchase Decisions

QoD: What percent of product searches on the Amazon website do consumers include a brand name in the search?

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Sep 17, 2019
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Question of the Day, Budgeting, Purchase Decisions
Answer: 22% Questions: If you just looked at the searches that teens did on Amazon, what percentage do you think would include a brand name?  What product searches do you think consumers would look for a specific brand rather than just a generic search like "running shoes?" Do you ever buy store brand products (e.g., Kirkland, CVS, Sam's Club, Amazon)? Why or why not? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom Behind the numbers...

QoD: Which country has the most retail store space per capita: Australia, U.S. or Spain?

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Aug 20, 2019
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Question of the Day, Budgeting, Purchase Decisions
Answer: Questions: What do you expect these numbers in the U.S. to be in 10 years? Explain.  Do people shop more in the U.S. because of the large number of retail stores OR are there so many retail stores in the U.S. because people shop more here?  Of your last five purchases, how many were made at a physical store vs. online?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from Irrelevant Investor): In...

Throwback Tuesday QoD: Groceries or Restaurants: Where are Americans spending more money?

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Aug 19, 2019
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Question of the Day, Budgeting, Purchase Decisions
Answer: Restaurants Questions: What do you think accounts for the trend you see in the chart? What percentage of meals do you/your family eat at a restaurant per week? From a cost perspective, how much do you think you can save (on a percentage basis) eating at home vs. going to a restaurant? For example, do you think it costs 10% less to eat at home? 40%? 50%? What might be other advantages to buying groceries compared to dining at restaurants? Click here for the ready-to-go slides for this...

NGPF Podcast: Andrei Smith discusses the car industry

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Aug 09, 2019
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Purchase Decisions, Podcasts, Budgeting, Behavioral Finance
I had Andrei Smith back on the podcast recently where we talked about what's ailing the car industry, the promise of autonomous and electric vehicles and the owning vs. leasing debate. He also shares his observations on the current zeitgeist in Silicon Valley when it comes to status symbols and car buying behaviors. Enjoy! Details: 0:00~1:14 Introduction 1:14~2:04 Current state of car dealerships 2:04~11:14 The slowdown in car sales  11:14~19:08 Introduction of electric car sales...

QoD: In percentage terms, how many more items of clothing do people buy today compared to 15 years ago?

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May 28, 2019
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Question of the Day, Budgeting, Purchase Decisions
Answer: 60% Questions: Why do you think that young people are purchasing more clothing but keeping it for only half as long?  What impact do you think that social media has had on this trend?  How would you describe how your shopping habits when it comes to clothing?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Business of Fashion) This trend is partly driven by the young generation’s hunger for...

QoD: What is the top restaurant choice among teens?

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May 27, 2019
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Budgeting, Question of the Day, Purchase Decisions
Answer: Chick-fil-A Questions: What do you think makes a restaurant popular among teens? Name at least three factors.  What is your favorite restaurant?  Food is considered the number one spending priority for males and #2 for females. How much do you think YOU spend on food (snacks, drinks, meals) every month? How much of your monthly food spend would you call a "need" vs. a "want?" Here's the ready-to-go slides for this Question of the Day that you can use in your classroom....

Question of the Day: What is the most popular online service: purchasing used goods, using ride-hailing apps (e.g., Uber) or hiring someone for a task?

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Jan 08, 2019
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Question of the Day, Purchase Decisions, Budgeting, Career
Answer: Purchasing used goods Questions: Which of these online services are you familiar with?  Have you used them or know anyone who has?  Can you imagine having a "side hustle" involving any of these online services? Explain. What do you think will be the most popular online service in 5 years?  Here's the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Pew Research): Some of these services...

Question of the Day: What is the #1 way that shoppers use their cell phones to help with in-store purchases?

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Jan 07, 2019
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Question of the Day, Purchase Decisions, Behavioral Finance
Answer: Call or text someone to discuss a purchase Questions: Have you ever used a cellphone to help with a purchase decision while inside a store?  If so, which of the four actions above have you done and how did it affect your purchase?  Do you often reach out to friends before making an online purchase?  How do you use online reviews before purchasing a product? How do you judge whether or not a review is credible and should be believed?  Here's the ready-to-go...

Is Your Car Buying Decision Hijacking Your Retirement Savings Plans?

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Jul 22, 2018
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Purchase Decisions, Budgeting
We know that your students love talking/thinking/dreaming about cars (even if data suggests it's less than previous generations). In fact, our Buying a Used Car activity in our Bonus Unit is a  student favorite. This activity can be used to pivot into a conversation about retirement savings also. How? The Wealth of Common Sense blog makes that connection between car buying and retirement savings. From a Ben Carlson tweet: Looking at prices for new SUVs and came to the realization this...

Interactive: Do you have a designer's eye? OR Can you tell which item costs a $1,000 more?

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Jul 08, 2018
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Interactive, Budgeting, Behavioral Finance, Purchase Decisions
Ok, I have never been accused of having a designer's eye and answering the five questions in this Marketplace quiz provided further proof of that. I thought this short interactive might lead to interesting conversations about why we buy the things we do and all the psychological factors that play into purchasing decisions (e.g., status vs. function) From Marketplace:  Questions: Did you do better or worse than you expected picking out the higher-end furniture?  What surprised...

Question of the Day: What's the average monthly payment for a new car purchased in 2018?

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Jun 05, 2018
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Question of the Day, Budgeting, Purchase Decisions, Current Events, Research
Answer: $523 Questions: When do you expect to buy your first car? Will you buy new or used? Explain your answer.  What are other costs that you can expect to pay for a car beyond the car payment?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (from CNBC): In the first quarter of this year, the average monthly loan payment for a new vehicle climbed $15 compared with last year, hitting an...

Question: What percent of the time do people click the first item on Google search results page?

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May 30, 2018
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Research, Question of the Day, Advertising, Behavioral Finance, Purchase Decisions
Answer: 24% (mobile) - 32% (desktop) Legend: CTR = Click through rate  Questions: Describe your search habits when looking for info for a school project and how many links you typically click on.  What are your search habits when looking to purchase an item? Do you search on a specific website or search from a general search engine (e.g., Google or Bing)?  What are advantages/disadvantages of limiting your search to the first 4-5 items from a Google search?  Click here for...

Finance Explained by Danielle: The Price of Convenience is Only a Subscription Away

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May 14, 2018
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Budgeting, Purchase Decisions, Current Events
From service subscriptions like Amazon, Netflix, and Spotify to monthly box deliveries like Dollar Shave Club and Birchbox, we live in a world where convenience and instant gratification are becoming more intertwined in our daily routine. Consumers increasingly don't need to shop at brick and mortar stores anymore since most chain stores now have online platforms to sell their products—not to mention expand their audience reach by offering FREE nationwide shipping (often within 2 days)....

What percent of 15-19 year olds value experiences more than possessions?

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May 09, 2018
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Question of the Day, Behavioral Finance, Budgeting, Purchase Decisions
Answer: 46% Questions: How would you answer the question: "What do you value more: experiences or possessions?" Explain your answer. Do you think your answer to the question will change over time? Why? Research seems to indicate that greater joy comes from purchasing experiences rather than "things." Why do you think this is the case? What can you get from experiences that you can't get from things?  Click here for the ready-to-go slides for this Question of the...

Question of the Day: Who has the most subscribers: 1) Netflix, 2) Amazon Prime or 3) HBO?

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Apr 23, 2018
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Budgeting, Purchase Decisions, Research, Question of the Day
Answer: HBO Questions: What makes subscription businesses so valuable compared to non-subscription businesses?  In five years, which of these three companies do you think will have the largest subscription counts? Explain.  Which of these three companies do you think is most indispensable? Explain your answer.  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (recode):  After years...