Category: Purchase Decisions

Question of the Day: Do More Americans Prefer Spending or Saving?

|
Oct 16, 2017
|
Question of the Day, Savings, Purchase Decisions
Here's what Gallup found (and I was surprised by the results): 59% prefer to save money! Questions: Which do you prefer?  Why do you think more people prefer saving to spending?  Why does America have such a low savings rate despite the fact a majority of people prefer saving over spending? ----------------- Interested in more savings activities? Check out this page on the NGPF website!   ...

The Real Cost of Food Delivery

|
Sep 26, 2017
|
Article, Budgeting, Personal Finance, Purchase Decisions
Not all heroes wear capes...some don casual clothing, drive their cars to pick up food from the restaurant of your choice, and deliver it to your door at a minimal fee. Gone are the days of food delivery being limited to just Chinese food and pizza. With apps such as GrubHub, Caviar, and Postmates, many restaurant goers have the ability to simply kick back at home after a long day at work and have food delivered to their doorstep. But the big question at hand still remains: is the convenience of...

What Were The Top 20 Best Selling Toys on Amazon in May?

|
Sep 06, 2017
|
Current Events, Question of the Day, Purchase Decisions
Answer: Toys related to or similar in nature to fidget spinners.  From the Economist:  The fad started in America in February. By May, all 20 of the top-selling toys on Amazon, an online retailer, were either fidget spinners or fidget cubes, a close relation. There have been many such crazes—who can forget the great loom-band mania of 2014?—but none that spread as fast. Frédérique Tutt, an analyst of the global toy market for NPD, a data company, says that it...

Video: What Is the Future of Retailing?

|
Aug 24, 2017
|
Purchase Decisions, Budgeting, Behavioral Finance, Video Resource
Interesting video (duration of 8:48) from PBS NewsHour: "Is traditional retail dead? There have been more store closings this year than any since the Great Recession, with retailers filing for bankruptcy at a record pace. And yet online retailers like Amazon and Warby Parker are adding brick-and-mortar stores. What’s the secret to keeping afloat as shopping evolves? Economics correspondent Paul Solman reports." Questions: What is having the most dramatic impact on the demise of...

Three Planet Money Podcasts To Enjoy: Origin Story of Warehouse Clubs, Resurrecting the Hydrox Brand and the Starbury Sneaker

|
Aug 23, 2017
|
Purchase Decisions, Current Events, Podcasts, Budgeting
I have been on a bit of a podcast binge lately and here are three that I thought you would enjoy: "The Anti-Store" tells the story of a warehouse club pioneer and how he stumbled upon this niche and the mistakes he made along the way. What are the attributes of the business model that have led to the success of the warehouse clubs? Despite being a difficult store to shop, why do you think people continue to flock to Costco and Sam's Club? How is Jet seeking to disrupt the retailing space? Why...

Tempted to Play The Powerball Lottery? Try These NGPF Resources To Encourage Student Reflection.

|
Jun 27, 2017
|
Current Events, Activity, Behavioral Finance, Research, Purchase Decisions, Activities
I meant to post this earlier this month after the news of the $448 million Powerball Lottery winner from California: There is at least one winning ticket for Saturday’s $447.8 million Powerball jackpot, and California Lottery has confirmed that it was purchased in Southern California. The ticket was sold in Sun City in Riverside County, according to the lottery. It is unclear if there are winning tickets in other states. The numbers drawn were 32, 26, 20, 38, 58. The Powerball was 3....

Question: Will You Own A Car in the Future?

|
Jun 22, 2017
|
Article, Question of the Day, Research, New Products, Purchase Decisions, Current Events, Chart of the Week
Interesting WSJ article (subscription) highlights how dramatically the concept of car ownership is changing in light of current ride-sharing trends and the potential for autonomous vehicles in the future. Here’s a graph that shows how new car buying has slowed dramatically among younger Americans: Other key points from this article (about a 5 minute read): 1/4 of miles driven may be through shared, self-driving vehicles by 2030: “Car ownership, for a long time, has symbolized...

Chart: Have You Bought Any Amazon Batteries Lately?

|
Jun 21, 2017
|
Purchase Decisions, Question of the Day, Chart of the Week
This chart below is striking fear into the hearts of branded packaged goods providers (think Pampers, Duracell, Kleenex). Why? In a short period of time, Amazon has become a leading online “private-label” supplier of common products like batteries (#1) and baby wipes (#3). Since Amazon owns the final click to the customer, collects oodles of customer data and controls the shopping experience, it is easy for them to work with a manufacturer, slap their name on the product and provide...

The Retail Industry Changed Last Week...NGPF Has Resources Aligned To These Current Events

|
Jun 18, 2017
|
Current Events, Career, Index Funds, Investing, Financial Literacy, Stocks, Purchase Decisions, Economics
This has been a big week of news related to the Retail Industry in the U.S., with implications for the economy, jobs, shoppers, and investors. This post will explain the big events for the week, their implications for you and your students while also providing activities and lessons that are aligned to these current events. What’s Happening? US Retail Sales declined month-over-month in May, suffering its biggest decline in 16 months.  Coupled with lower inflation, this data suggests...

Shopping In The Amazon Era

|
Jun 08, 2017
|
Budgeting, Research, Purchase Decisions
A fella two rows back from me on my flight today was lamenting the fall of Sears. He hadn’t shopped there in a while and was surprised how far and how fast the retail experience at their stores had declined. As more and more shopping moves from “bricks and mortar” to online, we better start developing a new skill set for shoppers. You will see one example of what can go wrong with online shopping described below. But before we get to that, here are some stats showing the...

Article: How Online Shopping Makes Suckers of Us All

|
May 15, 2017
|
Article, Behavioral Finance, Research, Budgeting, Purchase Decisions, Current Events, Ethics
Rather long (about 15 minute read) but intriguing article from The Atlantic that provides great context for trends that I have blogged about the growth of online shopping (here and here). The article describes how in this era of “big data” retailers are harnessing consumer information to price discriminate and obliterate the concept of a fixed price. Here are a few excerpts: Death of fixed price: “This could be seen as the final stage of decay of the old one-price system....

Trends: What Do You Buy Online?

|
May 14, 2017
|
Chart of the Week, Question of the Day, Research, Purchase Decisions, Current Events
Ask your students which of the following items they tend to purchase online: Books? Toys? Electronics? Clothing? Food and Beverage? See how their answers line up with current and expected online sales trends are for each of these categories. Notice how online sales are expected to continue to gain on “bricks and mortar” sales:  More details from the Economist: The share of retail shopping done online jumped from 5.1% in 2011 to 8.3% last year. That figure disguises the damage...

Audio Resource: How Does Our Spending Reflect Our Values?

|
May 01, 2017
|
Behavioral Finance, Question of the Day, Research, Teaching Strategies, Purchase Decisions, Video Resource, Audio Resource, Podcasts
Just done listening to this 28 minute Hidden Brain podcast “Money Talks” which asks such provocative questions such as: Would you buy clothing from a department store if you knew the apparel was made in a sweatshop? If you have a choice between a local coffee shop and a national chain, which would you choose? Does how a company treats its employees (e.g, Uber) or customers (e.g., United) factor into your purchasing decision? I also learned a new term listening to this...

Chart of the Week: What Are Your Two Favorite Platforms for Watching "Television?"

|
Apr 19, 2017
|
Budgeting, Research, Payment Types, Purchase Decisions, Current Events, Chart of the Week
  The answer to this question has budgetary implications given how the cost differential between the platforms. If you are a millennial, your top four platforms, based on a recent survey, are: Netflix Cable TV Hulu Amazon Prime Hat tip to VisualCapitalist for this infographic:  Questions for your students: What are your two favorite platforms to watch television? How about your parents/guardians? What are top rated platforms for millennials? for non-millennials? How do they differ?...

Interactive: What Do Consumers Spend Their Money On?

|
Apr 04, 2017
|
Activity, Question of the Day, Research, Budgeting, Purchase Decisions, Current Events, Math, Activities, Excel Activities, Interactive
If you are a data geek, you will love this interactive tool/data visualization from Flowing Data (be sure to click on the link to take advantage of the interactive nature of the tool): Let me provide some context for what you are looking at. Here are the data sources: The Bureau of Labor Statistics (using data collected by the Census Bureau) estimates spending patterns over time and across demographics, through the Consumer Expenditure Survey. BLS released midyear estimates today. Spending on...

Search The Blog

Categories