‘Black Friday’ becoming a shadow of its former self in US

The U.S. holiday shopping season officially opened with a deluge of “Black Friday” promotions but the frenzied crowds of the past have thinned out with the rise of e-commerce.

Companies in the retail, entertainment and tourism industries once again tried to entice shoppers after Thanksgiving with a bevy of offers on a day synonymous with American consumer culture and notorious “doorbuster” sales that start at the crack of dawn.


But U.S. consumers aren’t buying Black Friday the way they once did.

Only 36% of U.S. consumers plan to shop this year on Black Friday, down one percent from last year and a decline of 23% from 2015, according to a PricewaterhouseCoopers survey.

“Just a few years ago, Black Friday had the aura of a FOMO (fear of missing out) event,” PWC said. “Now it seems more symbolic than significant in the pantheon of retail holidays.”

Black Friday will be followed in three days by “Cyber Monday,” a second highpoint of spending early in the season.

Friday’s sales have prompted copycat versions throughout Europe, an effort that has generated no small amount of friction.

This year’s events prompted protest in parts of France, Germany and the Netherlands that included environmentalist rallies outside Amazon distribution centers and human chains blocking malls.

There has been little sign of that sort of subversiveness in the United States. Rather, the bigger emerging challenge for Black Friday has been shifting consumer patterns.

The PWC survey said that for the first time in 2019 more consumers (54%) said they’ll do more of their shopping online than in stores.


Higher sales expected

Economists and retail industry insiders are broadly confident about the outlook for the 2019 season, owing to a strong labor market.

Consumer spending accounts for about 70% of US economic growth and has stayed strong throughout 2019 even as manufacturing has stagnated and business investment has been lackluster.

“Consumers are in good financial shape and willing to spend a little more on gifts for the special people in their lives this holiday season,” said Matthew Shay, Chief Executive of the National Retail Federation.

The NRF has projected that US consumers will spend an average of $1,048 this year, up about 4% they said they would spend last year.

But increasingly more of those sales are migrating online.

This trend includes Amazon of course, but also traditional brick-and-mortar chains like Walmart and Macy’s that have evolved into “multichannel” retailers, as well as companies and organizations hawking everything from pet food to hotel stays to political merchandise.

President Donald Trump’s “Make America Great Again” merchandise was being once again discounted on the U.S. president’s political website at 35% off.

Democratic presidential candidate Elizabeth Warren of Massachusetts was offering 25% off merchandise orders of $75 or more.

Due to the lateness of Thanksgiving, this year’s holiday shopping season is about six days shorter than last year, prompting more retailers to push up promotions even earlier in the season than usual, according to analysts.

Online consumer spending on Thanksgiving day came in this year at $4.2 billion, up 14.5% from a year ago and the first time above $4 billion, according to Adobe Analytics.


Jason Woosley, a vice president with Adobe, said preliminary data showed Black Friday was also on track to top its performance from last year by almost 19%, with promotions for sporting goods and appliances especially popular.

The data suggested the Thanksgiving day shopping spree hasn’t “stolen any traffic from Black Friday,” he said, adding that about 20% of the overall online sales for the season are expected between Thanksgiving and Cyber Monday. NVG

source: business.inquirer.net

In escalating trade war, US consumers may see higher prices

WASHINGTON  — The United States and China on Sunday put in place their latest tariff increases on each other’s goods, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer items before the holiday shopping season.

President Donald Trump said U.S.-China trade talks were still on for September. “We’ll see what happens,” he told reporters as he returned to the White House from the Camp David presidential retreat. “But we can’t allow China to rip us off anymore as a country.”

The 15% U.S. taxes apply to about $112 billion of Chinese imports. All told, more than two-thirds of the consumer goods the United States imports from China now face higher taxes. The administration had largely avoided hitting consumer items in its earlier rounds of tariff increases.

But with prices of many retail goods now likely to rise, the Trump administration’s move threatens the U.S. economy’s main driver: consumer spending. As businesses pull back on investment spending and exports slow in the face of weak global growth, American shoppers have been a key bright spot for the economy.

“We have got a great economy,” said Sen. Pat Toomey, R-Pa. “But I do think that the uncertainty caused by volatile tariff situation and this developing trade war could jeopardize that strength, and that growth, and that is, I think, that’s a legitimate concern,” he told ABC’s “This Week.”


As a result of Trump’s higher tariffs, many U.S. companies have warned that they will be forced to pass on to their customers the higher prices they will pay on Chinese imports. Some businesses, though, may decide in the end to absorb the higher costs rather than raise prices for their customers.

In China, authorities began charging higher duties on American imports at midday Sunday, according to employees who answered the phone at customs offices in Beijing and the southern port of Guangzhou. They declined to give their names.

Tariffs of 10% and 5% apply to items ranging from frozen sweet corn and pork liver to marble and bicycle tires, the government announced earlier.

After Sunday’s move, 87% of textiles and clothing the United States buys from China and 52% of shoes will be subject to import taxes.

On Dec. 15, the Trump administration is scheduled to impose a second round of 15% tariffs — this time on roughly $160 billion of imports. If those duties take effect, virtually all goods imported from China will be covered.

The Chinese government has released a list of American imports targeted for penalties on Dec. 15 if the U.S. tariff hikes take effect. In total, Beijing says Sunday’s penalties and the planned December increases will apply to $75 billion of American goods.

Washington and Beijing are locked in a war over U.S. complaints that China steals U.S. trade secrets and unfairly subsidizes its own companies in its drive to develop global competitors in such high-tech industries as artificial intelligence and electric cars.

“I give the president credit for challenging China on some of its really egregious behavior” on intellectual property and technology transfers, for example, Toomey said. He said he hopes that’s what Trump’s focus is, “not just the fact that Chinese clothing and shoes are popular among consumers. That’s not the problem.”

If China changes its behavior “in a meaningful way in that area … then we will have ended up in a better place. That’s what I’m hoping for. But let’s be honest. In the meantime, we’re doing damage. It’s a double-edged sword,” he said.

To try to force Beijing to reform its trade practices, the Trump administration has imposed import taxes on billions of dollars’ worth of Chinese imports, and China has retaliated with tariffs on U.S. exports.

“It’s a good thing taking on China. Unfortunately, he’s done it the wrong way,” said AFL-CIO President Richard Trumka said on “Fox News Sunday.”

“To take on China there has to be a multilateral approach. One country can’t take on China to try to dry up its overcapacity because they just send it through to you in other ways,” he said.

Trump has insisted that China itself pays the tariffs. But in fact, economic research has concluded that the costs of the duties fall on U.S. businesses and consumers. Trump had indirectly acknowledged the tariffs’ impact by delaying some of the duties until Dec. 15, after holiday goods are already on store shelves.

A study by J.P. Morgan found that Trump’s tariffs will cost the average U.S. household $1,000 a year. That study was done before Trump raised the Sept. 1 and Dec. 15 tariffs to 15% from 10%.

The president has also announced that existing 25% tariffs on a separate group of $250 billion of Chinese imports will increase to 30% on Oct. 1.


That cost could weaken an already slowing U.S. economy. Though consumer spending grew last quarter at its fastest pace in five years, the overall economy expanded at just a modest 2% annual rate, down from a 3.1% rate in the first three months of the year.

The economy is widely expected to slow further in the months ahead as income growth slows, businesses delay expansions and higher prices from tariffs depress consumer spending. Companies have already reduced investment spending, and exports have dropped against a backdrop of slower global growth.

Americans have already turned more pessimistic. The University of Michigan’s consumer sentiment index, released Friday, fell by the most since December 2012.

“The data indicate that the erosion of consumer confidence due to tariff policies is now well underway,” said Richard Curtin, who oversees the index.

Some retailers may eat the cost of the tariffs. Target confirmed to The Associated Press that it warned suppliers that it won’t accept cost increases arising from the China tariffs. But many smaller retailers won’t have the bargaining power to make such demands and will pass the costs to customers.

Philip Levy, chief economist at the San Francisco freight company Flexport who was an adviser in President George W. Bush administration, said it’s hard to say for sure when the latest tariffs may hit U.S. customers in the form of higher prices.

But, he added, “If you had to pick a time to do it, this is the worst possible time” because it’s when the bulk of holiday goods are brought into the country.

source: business.inquirer.net

In China, yellow robots deliver snacks to your home

BEIJING, China – Along a quiet residential street on the outer edges of Beijing, a yellow and black cube about the size of a small washing machine trundles leisurely to its destination.

This “little yellow horse” is an autonomous delivery robot, ferrying daily essentials like drinks, fruit and snacks from the local store to the residents of the “Kafka” compound in the Chinese capital.

Equipped with a GPS system, cameras and radar, the robots are seen by their creator as the future of logistics in China, where he says one billion packages will eventually be delivered every day.

Travelling at a less than overwhelming three kilometres (two miles) per hour — a slow human walk — the robot has room for improvement, said one customer as she removed a packet of nuts from its bowels.

“The weak point is that it cannot deliver directly to the door like a human,” said the customer, who does not live on the ground floor.

“But it’s still quite practical. The robot delivers relatively quickly,” she said.

The robot takes advantage of Chinese consumers’ love of cashless payments and smartphone shopping.

China is the world’s biggest online shopping market with more than half of its population making at least one smartphone purchase per month, according to professional services firm PricewaterhouseCoopers. This compares to 14 percent in the rest of the world.

Whether buying electronics or toilet paper, avocados or clothes, Chinese are used to simply tapping a button on their smartphone and getting a home delivery — sometimes several per day.

To get a delivery via the “little yellow horse,” the customer selects the desired products, taps in the address and pays via their phone.

The supermarket staff place the items in the robot, and the robot bustles off.



One billion packages

Liu Zhiyong, founder and CEO of Zhen Robotics, which manufactures the robot, sees a bright future for his yellow creation.

“At the moment, there are 100 million packages delivered every day in China. It will be one billion in the future,” Liu told AFP.

“There will not be enough humans to make the deliveries. We need more and more robots to fill this gap in manpower. And to reduce costs,” added the CEO.

These costs are especially high in the last kilometre of a delivery, where precision is key and a customised service is required to get the product to the front door.

At the moment, the yellow robots in the Kafka compound have little to trouble them, moving along a wide pavement with no obstacles — and no cars.

Weighing 30 kilograms (around 65 pounds) and with a theoretical top speed of 12 kilometres per hour on their six wheels, the robots have four cameras constantly scanning the world around them and a laser tele-detection system allowing them to avoid obstacles.

Liu’s firm has already signed up Suning, a large electronics firm that also runs a network of small supermarkets.

But not everyone is convinced the robots are a long-term logistics solution.

Shao Zhonglin, former deputy secretary-general of the China Express Association, noted they were useful “over a short range.”

“It’s not certain however that they can be a broad solution for the final kilometre of delivery. Because the client still has to come down to get his package,” added Shao.

“Plus the costs remain quite high: buying and maintaining the robots, operating costs, etc.”

‘Not resellable’

But Zhen Robotics is convinced the costs will come down over time.

CEO Liu also says the robot will soon be equipped with the necessary technology to operate a lift, meaning it will no longer be confined to ground-floor deliveries.

In the meantime, deliveries in China are increasingly being made by autonomous means. In recent months, several firms have received the green light to operate drones, either to deliver directly to the customer or to ferry goods between hubs.

And Liu has a warning for anyone trying to vandalise or steal the yellow robot.

“With GPS, we are constantly tracking them, cameras are filming and it can sound an alarm,” he said.

“Anyway, what would a thief do with it? It’s not exactly resellable.”

source: technology.inquirer.net

Change or die: American malls confront Amazon era

As the retail industry churns in the Amazon era, American shopping malls are turning to a new generation of stores, food and entertainment offerings to make up for an exodus of department stores.

Prime mall real estate is increasingly going to players who began online and are graduating to brick-and-mortar, such as plus-size clothing label Eloquii, or stores selling niche items like candy and conflict-free diamonds.

In some cases, these retailers are taking space, literally, from exiting chains like Macy’s.

Other additions include the trendy burger restaurant Shake Shack, and Dave & Buster’s, whose video game and pro-sports viewing restaurants are emblematic of the “experiences, not stuff” mantra now resonant among consumers.

The changes to malls — climate-controlled beacons to American consumerism that grew rapidly in the latter part of the 20th century — are part of a fundamental industry rethink as e-commerce, led by gargantuan purveyors like Amazon, takes market share and alters consumer expectations.

“This isn’t the same culture as 30 years ago,” said retail industry analyst Dana Telsey, who sees today’s moves as the “early innings” of a multi-year evolution.

Malls will endure because they offer “the excitement of being able to see what’s new,” she told AFP. “It’s a meeting place. It’s an entertainment center.”

“You’re always going to have shopping centers that engage,” said Telsey, chief executive of Telsey Advisory Group.

The changing times are a period of reckoning for hundreds of second-tier shopping centers in a country that experts say has long been “overmalled.”

A January review of 1,070 malls in the US by Green Street Advisors, a real estate research and advisory firm, classified more than 330 malls as “at risk to close” due to declining occupancy, low sales, weak socioeconomic demographics and anchor store vacancies.

“These malls only account for roughly five percent of mall value in the US,” the report said. “Most won’t be missed.”

Survival of the fittest

Many of the most vulnerable malls were built in the 1960s and 1970s with department stores as anchors that attracted enough customers to also support secondary stores.

But stores in malls were often pricier than free-standing shops because of the heavy rents for common costs such as heating, maintenance and security, said Fred Hurvitz, professor in retail studies at Penn State University’s Smeal College of Business.

The arrival of e-commerce and greater price transparency means malls must compete not only with Amazon for more cost-conscious customers, but with discount chains.

“You’re seeing a whole movement towards any way you can save the customer money, that’s going to make you more viable with the customer,” Hurvitz said. “Without high traffic levels, the malls die.”

The exodus of retailers means shopping centers that were once hives of activity are hollowed-out shells with a few well-stocked shops surrounded by empty storefronts. Parking lots that were jammed with cars a few decades ago are now mostly empty seas of asphalt.

“It’s a very depressing place,” Nakul Kumar, an economics professor at Bloomsburg University, said of the Columbia Mall in Bloomsburg, Pennsylvania, which just lost its J.C. Penney store.

Kumar joined a Planet Fitness gym that opened earlier this year at Columbia Mall in a space formerly occupied by Sears, and he says he hopes that increased traffic from gym members will spur more activity.

But it was not, perhaps, a good sign when Columbia Mall was profiled earlier this year by filmmaker Dan Bell as part of his YouTube “Dead Mall Series.” The Baltimore documentarian has also featured visits to seen-better-days malls in North Carolina, Tennessee and Maryland.

Bell’s portfolio was spotlighted in a July New York Times Style story that rued the passing of an era.

New investments

Yet mall developers dismiss talk of their demise despite today’s retail industry travails.

“I will tell you, it’s not a very fun environment,” David Simon, chief executive of the real estate investment trust Simon Property Group, said recently about finding new takers for vacated real estate.

“We’re pounding the pavement more than ever,” he said in a conference call.

Simon said he has been encouraged, however, by a trend of e-commerce chains like apparel maker Eloquii or eyeglasses seller Warby Parker raising capital to open brick-and-mortar stores. Some of these newer brands could ultimately have as many as 400 stores, he said.

“In this cluttered world of trying to get people focused, we are seeing more and more brands that want to gravitate to where the traffic is,” Simon said. “By and large, in communities throughout the country, that’s the mall. And that has not changed.”

GGP, another real estate investment trust, plans $1.5 billion in mall investment, including a greenfield mall in Norwalk, Connecticut and a major expansion to the Staten Island Mall in New York City that it bills as a “shopping center of the future.”

Staten Island will add the German supermarket chain Lidl, as well as Dave & Buster’s, a new AMC movie theater and a few new apparel stores.

GGP has also budgeted “refresh capital” for existing malls — sometimes stretching into the millions of dollars. The company recently removed an old fountain and spiffed up the dining area at its Wayne, New Jersey mall.

“You’ve turned your old, very tired looking food area into something very modern,” Kevin Berry, a vice president at GGP, said of the Wayne upgrade.

source: business.inquirer.net

Advertisers to get a glimpse of Apple Watch promise, challenge

LAS VEGAS - Apple’s forthcoming smartwatch poses a conundrum for advertisers: How to tap the enticing possibilities of the tiny gadget without overwhelming consumers with messages.

At this week's Consumer Electronics Show in Las Vegas, mobile-marketing firm TapSense plans to release an Apple Watch ad-buying service. The service will provide a first glimpse of how businesses can serve up ads on the watch, even though the gadget will not be available until later this year.

At issue: the same qualities that render the watch exciting to Madison Avenue, such as the ability to detect customers approaching a store and to zap an ad directly to their wrists, also risk alienating those customers.

Apple declined to comment on the use of its watch by advertisers, and will not attend CES officially. But many companies that make devices and services based around Apple products will be there, including several that are working with WatchKit, a software-development tool Apple released in November that allows developers to build watch-tailored applications.

Using that tool, developers are devising Apple Watch ad formats including interactive wallpapers on the watch dial with brand logos and personalized clock faces, said TapSense's chief executive Ash Kumar. His product helps developers insert ads, bought and sold instantaneously, in those apps.

The watch’s main screen allows the display of several tiny icons, including for email, weather, time, and potentially a few favorite service and retail apps.

Businesses could use those apps to notify customers of special deals, but only within already-opened apps, Kumar said. Otherwise, the vendor risks annoying consumers by introducing an ad that is out of sync with whatever they are doing.

If a consumer is using a transit app on the watch to monitor delays, for example, an advertiser could insert a marketing offer that would light up on the watch face for a ride-sharing service or a deal at a coffee shop nearby, Kumar said.

SMARTWATCH SPAM BOX?

But moderation is key. Push notifications and banner ads on smartphones can be turn-offs. Some marketers advise avoiding showing ads to users who typically click out of them or delivering the same ad too many times to any one user.

"If it feels like your smartwatch is turning into a spam box, you will take it off," said Padden Guy Murphy, who heads business development and public policy at car-sharing service Getaround.

The startup is exploring using Apple Watch's location-based features to target new customers. Apple has not added global positioning on the Apple Watch, but apps can track location as the device is tethered to a smartphone.

If a consumer shows interest in an ad, such as raising the wrist for a better look, WatchKit allows for notifications that expand and take up more room on the screen. Conversely, a disinterested consumer could tap an "X" mark to exit the ad, TapSense's Kumar said.

Communicating through buzzing or vibrations is currently only available on Apple's own apps on its wearable device.
              
FORCE PUSH

Whether Apple scores a hit with its upcoming Apple Watch and creates a new mass-market category remains unclear. Venture capitalist Fred Wilson caused a stir last week by predicting the watch “will not be the home run product that iPod, iPhone, and iPad have been.”

But advertisers see potential. They particularly like a watch feature that Apple calls "Force Push" that activates when a user taps the screen with extra pressure, opening up a menu with up to four actions. They envision coupons that when tapped can show directions to a store, for example.

Ad executives hope that the watch can overcome challenges that have prevented location-based ads from succeeding on mobile phones. Unlike on phones, says Jeff Malmad, North American mobile director at media agency Mindshare, users will not need to dig into a bag or pocket to see the ad. They will be right on a user’s wrist, in sight at all times.

But to keep them effective, he says, consumers will need to opt for them, much as many consumers opt to receive email messages from various retailers.  — Reuters

Black Friday shopping crowds thin after Thanksgiving rush

WEST HARTFORD, Conn./CHICAGO - Mall crowds were relatively thin on Black Friday in a sign of what has become the new normal in US holiday shopping: the mad rush is happening the night of Thanksgiving and more consumers are picking up deals online.

Most major retailers now open Thursday evening and are extending holiday deals rather than limiting them to one day. The result is a quieter experience on what has traditionally been one of the busiest, and sometimes most chaotic, shopping days of the year.

"It just looks like any other weekend," said Angela Olivera, a 32-year-old housewife shopping for children's clothing at the Westfarms Mall near Hartford, Connecticut. "The kind of crowds we usually see are missing and this is one of the biggest malls here. I think people are just not spending a lot."

The crowds normally reserved for Black Friday morning appeared on Thursday night. For instance, more than 15,000 people lined up for the opening of the flagship store of Macy's Inc in New York on Thursday. Retailers also said they were capturing more of the holiday budget online.

Shares of Macy's, Wal-Mart Stores Inc and Target Corp were all up from 2.2 percent to 3 percent on Friday afternoon as investors saw encouraging signs in the long lines on Thursday night and with executives making bullish comments about demand. Lower gasoline prices were also giving the shares a boost, analysts said.

"It's off to a good start," said Charlie O'Shea, a retail analyst at Moody's Investors Service, about the shopping season after visiting nearly two dozen stores in northern New Jersey over the past two days.

Police arrested 11 people associated with the OUR Walmart group for blocking traffic in front of a downtown Chicago Wal-Mart store. The protest was one of 1,600 planned across the United States by the group, which is pushing for higher wages and benefits for the retailer's employees.

"Wal-Mart, Wal-Mart you're no good. Treat your workers like you should," a crowd of several dozen shouted outside the store.

Wal-Mart spokeswoman Brooke Buchanan said: "The crowds are mostly made up of paid union demonstrators, and they do not represent the views of the 1.3 million associates" who work for the company, the largest private employer in the United States.

Buchanan also said one of the demonstrators hit a customer at the Chicago store, prompting a complaint to the police.

Overall Black Friday online sales as of 1200 EST (1700 GMT) were up 6.4 percent from a year earlier, according to IBM Digital Analytics Benchmark. Online sales were up 14.3 percent on Thanksgiving Day.

Wal-Mart said Thursday was its second-highest online sales day ever after last year's Cyber Monday, which is the Monday after Thanksgiving, when online retailers promote bargains.

Target CEO Brian Cornell said his company rang up a record day of online sales on Thursday, and was seeing brisk demand in its stores. He said the company was selling 1,800 televisions a minute between 6 p.m. and 8 p.m. on Thursday night.

Heavy traffic caused the Best Buy Co Inc website to crash for a little over an hour earlier on Friday, but as of afternoon it was back up and running, a company spokesman said.

The National Retail Federation is projecting that sales for November and December will rise 4.1 percent to $616.9 billion, which would mark the most bountiful holiday season in three years. Holiday sales grew 3.1 percent in 2013.

Some shoppers said the price of gasoline - expected to go even lower after the price of crude oil fell to a multiyear low - could make them more inclined to spend.

"My budget is pretty tight this year and gas is a tremendous expense because I have to drive my daughter around a lot," Kristen Akeley, 46, who works at an elementary school, said while shopping for clothes at a Target in Connecticut.

"My gas expense has fallen from $150 a week to $80 a week and that is big savings at this time of the year." — Reuters

7 Black Friday Credit Card Tips You Can’t Afford to Miss

Admit it: You can’t wait to get started on your holiday gift shopping. But if you’re planning to lean heavily on your credit card for Black Friday sales, the Nerds have a few important tips you can’t afford to miss.

Check out the details below for everything you need to know to swipe smart this holiday season (and beyond):

1. Shop with a rewards credit card to rack up serious points

 

The most important thing you can do to make the most of this holiday shopping season is select a card that provides a steady return on your spending in the form of points, miles, or cash back. Then, use it consistently. After all, you’re going to be shelling out big bucks anyway – you might as well get rewarded for it!

2. Use bonus malls to score even more rewards when you shop online

 

 A lot of people forget about the online shopping portals (often known as “bonus malls”) operated by their credit card issuers. If you choose to make your online purchases through these platforms, you stand to earn even more rewards on your credit card spending.

 

One of the best bonus malls out there is the one operated by Discover, known as Discover Deals. If you use your Discover it® and shop through Discover Deals, you could score extra cash back, a statement credit, or instant savings at checkout. This is a great way to help your dollars go the extra mile this holiday season.

3. Use your Chase Freedom® - $200 Bonus for department store shopping

 

If you’re planning to buy a lot of gifts at department stores this Black Friday, be sure to use your Chase Freedom® - $200 Bonus. With it, you’ll earn 5% cash back until December 31, 2014 at select department stores, aw well as Amazon.com and Zappos.com (up to $1,500 spent). Plus, you’ll earn unlimited 1% cash back on all other purchases.

 

And don’t forget: If you also have the Chase Sapphire Preferred® Card, you can transfer all the Ultimate Rewards points you’re racking up with the Chase Freedom® - $200 Bonus over to it and cash them in for travel. Talk about a win-win!

4. Look into your credit card issuer’s extended warranty policy, pronto

 

Lots of people buy electronics on Black Friday, and many retailers try to hock extended warranty coverage at unsuspecting consumers. But it’s highly likely that your credit card already has your back. Every major network (Visa, MasterCard, American Express and Discover) offers some kind of extended warranty on most purchases made with the card.

However, exclusions apply and every card provides slightly different benefits. Consequently, placing a quick call to your card’s customer service line to see what it covers before you hit the mall is a smart idea.

5. Keep a watch on your balance

 

Holiday cheer can be a powerful force, but don’t let it cause you to overspend on your plastic. Using more than 30% of the available credit on any of your cards at any time during the month could do damage to your credit score. If you’re starting to get close to that threshold, make a payment as soon as you can.

6. Use a card that offers price protection to be sure you’re getting the best deal

 

According to a 2014 NerdWallet analysis, Black Friday “deals” aren’t always the absolute lowest prices of the season. To ensure that you’re getting the best price on every gift you buy, shop with a card that offers price protection. MasterCard, Discover, and Citi all provide the opportunity to get some a refund if an item you’ve bought with your card drops in price within a certain window of time.

Again, this functions slightly differently from card to card and there are restrictions to keep in mind. Be sure to read your plastic’s terms and conditions carefully for the ins and outs of its price protection program.

7. Be sure to pay your bills on time

 

If you’re juggling several credit cards to maximize rewards on your holiday shopping, take steps to stay organized. Missing a payment on one of them could cause your credit score to take a serious hit, so set calendar alerts for your billing due dates. This way, you’ll be getting the best deals with your cards and keeping your credit in good shape.

source: nerdwallet.com

Xbox One original programming pushes through, starting with 'Humans'

Since the Xbox One's was unveiled at a press event at Microsoft's campus in Redmond, Washington, the company has teased consumers with the prospect of original programming to be made exclusively available on their Xbox Live service. Such programming was going to be just one slice of content in the company's desire to make the Xbox One a do-it-all entertainment device for the entire family.



Microsoft has announced that they are moving forward with original programming. Bloomberg reports that production at Xbox Entertainment Studios will commence this June, under the leadership of Nancy Tellem. Tellem was hired by Microsoft in 2012. Previously, Tellem was president of CBS Entertainment, where she supervised the network's programming lineup. Shows like CSI, Everybody Loves Raymond and Survivor all aired under her watch.

Xbox Entertainment Studios was founded in L.A. last year to create 'true interactive content' for the Xbox brand, not long before the unveiling of the Xbox One. Back then, Microsoft already began talking about a Steven Spielberg produced series based on the megahit franchise Halo. While details have yet to materialize regarding that project, the renewed commitment to original programming comes with the reveal of their first series, entitled 'Humans.'

'Humans' is based on a Swedish series, Äkta människor or 'Real Humans.' A collaboration between Xbox Entertainment Studios (XES) and the UK's Channel 4, the series will be set in an alternate present where robotic servants have become a household accessory. Drama unfolds when a busy father purchases a second-hand model that conceals its own secrets. An eight episode order has been given, and will air on Channel 4 with XES holding exclusive broadcast rights in North America.






"Humans not only questions personal relationships, we loved how this sci-fi show toys with reality and our connection to technology," said Tellem. "This deal with Channel 4 and Kudos underscores Xbox Entertainment Studios' commitment to programming premium TV series with global partners and creating engaging interactive experiences." Other programs on the slate at XES include "Every Street United," a street football reality show and a sketch comedy show from Sarah Silverman and Michael Cera.

Tellem later told Bloomberg that Microsoft is open to creating programs based on the "rich amount" of intellectual property the company already owns ."Whether it's from a game like Fable or Age of Empires or Gears of War or Forza, which is an amazing car racing game, or Halo. These are the things that frankly if we weren't attached to Microsoft everyone would yearn to have."

Microsoft is just one of a handful of tech companies diversifying into original video content. Netflix has already seen success with their Netflix Originals, which includes shows like Orange is the New Black and House of Cards. The online retailer Amazon has already begun greenlighting shows for the first season of its Amazon Originals. Sony is also developing its own programming for the Playstation service, but so far has only one show in its stable, the high concept procedural Powers. — TJD, GMA News

source: gmanetwork.com

Microsoft to offer Windows for free on phones, tablets

SAN FRANCISCO - Microsoft Corp is to give away its Windows operating system to makers of smartphones and small tablets for consumers as it seeks to make more of an impact on those fast-growing markets and counter the massive success of Google Inc's free Android platform.

Microsoft's move, announced at its annual developers conference in San Francisco, is an attempt to broaden the small user base of mobile versions of Windows, in the hope that more customers will end up using Microsoft's money-making, cloud-based services such as Skype and Office.

Up to now, Microsoft has charged phone and tablet makers between $5 and $15 per device to use its Windows system, as it has done successfully at higher prices for many years with Windows on personal computers. Hardware makers factor the cost of that into the sale price of each device.

That model has been obliterated in the past few years by the fast adoption of Google's Android system for phones and tablets, which hardware makers quickly embraced and now accounts for more than 75 percent of all smartphones sold last year. Apple Inc's iPhone and iPad account for most of the rest of the mobile computing market.

By contrast, Windows-powered phones held only 3 percent of the global smartphone market last year. Windows tablets have only about 2 percent of the tablet market, according to tech research firm Gartner.

Free money

Microsoft's move to make Windows free for some consumer devices bucks a central tenet of Bill Gates' original philosophy, that software should be paid for, which led to Microsoft's massive financial success over the last four decades. But analysts said it is a realistic reaction to the runaway success of free Android.

"Microsoft is facing challenges on the mobile and tablet fronts and need to change their strategy to move the growth needle, this is a good and logical first step," said Daniel Ives, an analyst at FBR Capital Markets.

Windows will be free for companies making phones and tablets with screen sizes under nine inches (23 cm) for the consumer market. A license fee will still apply for business devices.

It comes a week after new Microsoft Chief Executive Satya Nadella unveiled new versions of Word, PowerPoint and Excel applications for Apple Inc's iPad. A year's free subscription to Microsoft's cloud-based Office 365 service will be offered on the new devices running the free Windows, Microsoft said.

Both moves show that Microsoft is now more interested in gaining market share for its cloud-based services such as Office on any platform or device, rather than its traditional approach of putting Windows at the center of everything it does and extending its influence from there.

In the new era of mobile computing, Nadella acknowledged Microsoft's underdog status.

"We are going to innovate with a challenger mindset," said Nadella in a question and answer session at the developer conference. "We are not coming at this as some incumbent trying to do the next version of Windows, we are going to come at this by innovating in every dimension."

Nadella did not have a snappy answer to the question of what Microsoft's overarching mission now was, after it had achieved its original goal of putting a computer on every desk and in every home. Instead he elaborated on remarks he made last week about the importance of mobile devices as everything we do becomes digitized and connected to the internet.

"Our vision, simply put, is to thrive in this world of mobile first, cloud first," said Nadella. "Our goal is to really build platforms, create the best end-user experiences, the best developer opportunities and IT infrastructure for this ubiquitous computing world."

Siri rival

Also at the gathering, Microsoft formally announced it has developed a voice activated phone assistant feature called Cortana, a direct rival to Apple's Siri.

The feature has been rumored for some months and a test version was demonstrated at the event by Joe Belfiore, a Windows Phone executive.

The Cortana service, which can take verbal instructions to search the Web, set alarms, make calls and a host of other actions, is still in beta testing but will soon be a standard feature on Windows phones, said Belfiore.

He announced that the latest version of Microsoft's smartphone software, called Windows Phone 8.1, will be rolled out to consumers as a downloadable upgrade in the next few months, and new phones running the software will be in stores by late April or early May. — Reuters

source: gmanetwork.com

HP to flesh out 3D-printing entry in June

SAN FRANCISCO - Hewlett-Packard Co will outline plans to enter the commercial 3D-printing market in June, saying it has solved a number of technical problems that have hindered broader adoption of the high-tech manufacturing process.

Chief Executive Meg Whitman told shareholders on Tuesday the company will make a "big technology announcement" that month around how it will approach a market that has excited the imagination of investors and consumers.

Critics have accused the sci-fi-like technology of being over-hyped and still too immature for widespread consumer adoption.

Industry observers have long expected HP, the largest of several printer-making companies from Canon to Xerox, to eventually get into the business. Whitman said HP's inhouse researchers have resolved limitations involved with the quality of substrates used in the process, which affects the durability of finished products.

"We actually think we've solved these problems," Whitman told an annual shareholders meeting. "The bigger market is going to be in the enterprise space," manufacturing parts and prototypes in ways that were not possible before.

"We're on the case," she said without elaborating.

HP executives have estimated that worldwide sales of 3D printers and related software and services will grow to almost $11 billion by 2021 from a mere $2.2 billion in 2012.

The nascent 3D-printing market is now dominated by a number of smaller players like MakerBot, a unit of Stratasys that is concentrating on selling more affordable devices to consumers.

Contract manufacturers like Flextronics however already use the technology to help craft prototype parts or devices for corporate clients.

"HP is currently exploring the many possibilities of 3D printing and the company will play an important role in its development," CTO and HP Labs director Martin Fink said in a February blogpost on HP's website.

"The fact is that 3D printing is really still an immature technology, but it has a magical aura. The sci-fi movie idea that you can magically create things on command makes the idea of 3D printing really compelling for people." — Reuters

source: gmanetwork.com

Apps aid fashionistas in tracking down desired clothing, shoes

TORONTO - Fashionistas envious of clothing, shoes and accessories worn by strangers or seen on websites can turn to new apps for hassle-free shopping to find, and buy or rent, similar items.

Like the music app Shazam, which identifies songs based on sound clips, new fashion apps use photos and image recognition technology to find similar clothing.

"People see items they like on the street but can't really go up to the person wearing them and ask where they got them," said Daniela Cecilio, the chief executive of London-based startup Asap54.

"Or they might see items they like on Instagram, Tumblr, Facebook or Twitter, but can't really click through to buy them," she added, referring to the social media websites.

With the Asap54 app for iPhone, which was launched last month, users take a photo of an item, or upload an existing one, and describe what it is to help the app identify it. The app recommends something similar from more than 150 retail partners across the United State, Europe and other countries.

The Style Eyes app for iPhone and Android also uses a photo to find the desired or a similar item, which can be purchased from its catalog of 600 retailers in Britain and 300 in the United States.

Mark Elfenbein, chief digital officer of Toronto-based start-up company Slyce, said its image recognition technology integrates with retail brands so shoppers can find things by taking a photo with their iPhone or scanning an image from their desktop.

"The way brands are trying to communicate with customers is changing. Historically, they would lure customers to their stores or websites, but now we're seeing that brands want to create transactions in other places too," Elfenbein said.

The technology recognizes information such as how far apart buttons are, and fabric and stitching to help power visual searches.

But image recognition is still inexact and depends on the quality of the photo and other factors, such as lighting. To overcome the drawbacks Elfenbein said, Slyce uses a mix of technology and crowdsourcing to improve its search results.

Other apps making shopping easier include Pounce for Ios, created by Tel Aviv-based company BuyCode Inc. It allows consumers to buy items directly from retail advertisements from stores such as Lord & Taylor and office supply company Staples, Inc by hovering their smartphone camera over an image.

With the eBay Fashion iPhone app users in the United States and Britain can upload an image to find similar items available for sale on eBay.

For consumers more interested in renting than buying, Rent the Runway's iPhone app uses a photo of an item seen in a store to find something similar that customers can rent instead. — Reuters

source: gmanetwork.com

Wacker Neuson Radiant Heater

The new Wacker Neuson HDR 155 Direct-Fired Radiant Heater, introduced at World of Concrete in Las Vegas, NV, features a heating design unaffected by the elements, so the heat is easily directed exactly to where it's needed. Delivering best-in-class, 155,000 BTU/hour (45 kW) heat input, the HDR 155 easily heats workspaces, workers and objects such as equipment, concrete form work and other structures from approximately 15 feet (5 m) away. Since infrared heat radiates directly from the heater’s disc, the HDR 155 does not rely on warming the surrounding air like convection heating, so it produces quick, intense heat.

The direct-fired HDR 155 heater uses an oil flame to heat its stainless steel disc to approximately 1700°F (926.7°C). The shield emits electromagnetic (infrared) waves that travel in straight lines away from the heater, unaffected by wind or weather, to warm objects they hit. Exhaust gases are directed upward, so the heat is clean, dry and healthy. The heater’s 300-series stainless steel front panel delivers exceptional performance and extreme reliability and longevity.

The unique design of the HDR 155 boasts three concentric cones: the inner cone containing the flame; center cone that protects the outermost surface from heat; and external cone constructed of high-temperature-painted carbon steel. The air stream is split between the inner cone to support the flame and center core to provide cooling air for the heater’s surface. This "refractory free" cooling system results in a significantly cooler heater surface that does not require the expense or maintenance of molded heat refractory panels.

"Molded refractory is used to slow the movement of heat, but the rear surface of a heater using molded refractory still gets extremely hot after less than one hour of operation," says David Mencel, Climate Technology product manager for Wacker Neuson. "Conversely, the Wacker Neuson air-cooled design keeps the rear of the HDR 155 significantly cooler than other radiant heaters on the market. In addition, ours is a low-maintenance cooling system, whereas molded refractory eventually cracks and must be replaced, which costs the owner hundreds of dollars in maintenance."

The new construction-grade Wacker Neuson HDR 155 Direct-Fired Radiant Heater boasts many rental- and user-friendly features that lower operating costs and provide many years of reliable service. Large pneumatic tires, single point lift bail and tie-downs provide easy loading and transport. Its retractable floor guard eliminates the need for floor mats or other protection, while a two-position, 10-degree adjustable housing offers precise control over heat direction. The heater’s rugged, roto-moldedplastic fuel tank provides enough capacity for a 15-hour continuous run time, and an optional remote thermostat gives operators control over the temperature at the jobsite.

The HDR 155 provides the best solution for outdoor heating applications or heating equipment or personnel in open areas. Because of its rugged design, the versatile HDR 155 can be used in a variety of heating applications, including construction sites, warehouses, dairy, sports arenas, aircraft/hangar heating and thawing, mining and oil services, highway maintenance, and concrete curing.

source: forconstructionpros.com

Mobile Devices & Proof of Car Insurance

Today, the government, at both the federal and state level, seems to be promoting an Eco-friendly and paperless environment. As such, states like Alaska now authorized the use of the “E-card” a term coined for the demonstration of proof of auto insurance on a digital device such as a Smartphone or tablet.

Alaska, the most recent state to join the “E-card” authorization regulation puts the law into effect on July 1st. According to the legislative sponsors, the purpose in this law is to push for a paperless environment, simplify routine traffic stops and create an easier insurance verification processes.





Traditional Car Insurance Validation Takes Too Long

Traditionally, validating insurance takes several hours at the courthouse, whereas the use of “E–cards” takes just a few minutes to validate. The use of the digital cards is also legal in other states like, North Dakota, Alabama, Arkansas, Arizona, California, Colorado, Georgia, Indiana, Idaho, Iowa, Kentucky, Louisiana, Minnesota and a few others. In total, about half the nation now accepts this form of proof of car insurance, a real milestone as of its inception just two years ago.

Because this is a more efficient way of showing verifiable insurance, there are proposals to pass the “E–card” verification process in other states as well. These proposals are almost guaranteed to pass and to be confirmed by state governors.

Consumers looking for car insurance quotes should make sure that any insurance carrier they consider carries this new feature, as it is much more convenient than carrying a little piece of paper in the glove apartment.

Indications of Modernization

This new adoption is more than just a convenient method of proving that you have auto insurance. It is a sign that government laws are changing and modernizing. It means legislators are making room for consumer electronics, and businesses that conduct transactions over the Internet.

Other New Laws

Besides proof of insurance over mobile devices, there are other laws that will make buying car insurance online more practical. These will allow providers to send insurance quotes and other insurance related information, such as renewal forms, over the Internet to customers. These laws are now active in Kansas, Idaho, Kentucky, and Minnesota. Legislators from other states are also reviewing this future possibility in Florida, Missouri, California, Pennsylvania and Texas.

What Does This Mean for You?

Of course, this means more convenience for insurance providers, customers and government agencies; it saves time for everyone. However, the electronic delivery of insurance documents also means you have more choices and more flexibility when it comes to car insurance quotes or policies. Policyholders and auto insurance directives believe that these laws are a step in the right direction; a foot forward towards 21st-century modernization. These regulations will make car insurance comparison shopping easier, and help consumers find cheap car insurance rates that fully cover their needs.

Other laws are also soon to go into effect; these will allow for car insurance providers to place policy information online so policyholders can easily access it over the Internet. Such laws already exist in Arizona, Minnesota, Oklahoma, Kansas, Texas and Alaska. Governors in other states are also considering such legislation. The benefit in doing this is to allow auto insurance companies to be more competitive, but also for consumers to look for these types of features in their new online insurance policy options.

source: insurancequotesfast.com

PayPal Says Study Shows Support For Mobile Wallets

PayPal says a study it commissioned last month refutes those who say mobile wallet adoption is lagging.

In a survey of consumers in the U.S., Britain, Canada, Germany and Australia, 83% of respondents said they wished they didn't have to carry physical wallets.

Anuj Nayar, PayPal's senior director of communications, says the point of the study is not about replacing cash or credit cards with a "mobile wallet" payment method.


"It's about eliminating (payment) friction points that stop you from getting what you want," Nayar said. "Consumers aren't looking for new ways to pay in stores. But they are looking to have technology solve real world problems such as standing in line to order, tracking receipts and managing things like loyalty and gift cards."

The study from eBay -owned PayPal found 29% of U.S. respondents said they'd elect to carry a payments-enabled smartphone, or mobile wallet, over a physical wallet if they had to choose just one.

Nayar points to many pluses with a mobile wallet. For one, "you can pre-order your lunch from a meeting and not have to wait in line."

Many Stores Not Ready
But some obstacles to mobile wallet adoption surfaced in the PayPal study. Two-thirds of U.S. consumers said they had been unable to pay for a purchase at a store at least once because they forgot their wallets, with 30% saying this has happened to them often. PayPal says this shows many businesses still don't offer customers a mobile wallet payment alternative.

But the study found mobile wallets becoming more attractive because of changing lifestyles, such as greater use of smartphones.

Gyms and health clubs were at the top of the list of places that respondents wished were wallet-free. Canadians were most interested in going wallet-less at bars. Germans and Americans were most keen on attending concerts and sports events sans wallets.

Laundromats, grocery stores and restaurants also were high on mobile-wallet-option wish lists.

Mobile-wallet technology has a ways to go, however.

Mobile wallets, for now, can't do in an "easily accessible way" all the things that regular wallets do for consumers, says Ginger Schmeltzer, senior vice president of emerging payments for financial services and tech provider Fiserv.

Besides carrying credit cards, debit cards and cash, physical wallets also hold important personal identification and other items that digital wallets generally don't.

Schmeltzer says the day may come when most personal items can be loaded on smartphones and people don't carry any physical wallet, just their phone.

"People are ready to try something that will dematerialize the size of their physical wallet," said Sylvain Maquet, a partner in the New York office of Greenwich Consulting, who follows this field.

PayPal's Nayar notes that mobile wallet use tends to be identified with smartphones, but he stresses that any Internet-enabled device can serve as a digital wallet. This could include smartwatches and other wearable computers, or even cars that can pay for gas by passing through a gas station reader.

PayPal is pushing hard for mobile wallet payment services, as a way to boost its revenue.

Many PayPal Programs

The company launched Cash for Registers in May. The program, which it will phase in gradually, gives merchants an electronic point-of-sale service option, which lets them accept credit, debit cards, checks and PayPal payments.

Participating retailers can use PayPal Here or another checkout payment system offered by one of PayPal's partners such as Leaf, ShopKeep and VeriFone.

PayPal Here uses a dongle or swipe reader that lets merchants accept credit cards, checks and PayPal payments on the merchant's iPhone, iPad or Android device, so merchants can process payments anywhere, not just at the checkout counter.

PayPal says it will waive fees for merchants for the remainder of 2013 as an inducement to joining Cash for Registers.

PayPal also offers a cashless alternative called Check In, in which consumers can pay with just a few clicks and a picture of their face rather than a wallet.

Launched in May 2012, Check In is available at some stores. When users walk into a participating store, a mobile app on their smartphone alerts the store's PayPal Check In system that they're there. You buy what you want and when you go to the checkout register, the store's Check In system shows the register clerk a photo of your face that's been called up by the system. Once the clerk sees your face matches the photo, the funds to pay for your purchases are automatically deducted from your PayPal account and you take your goods home, never having to take out your wallet.

Consumers also will be able to use PayPal's Order Ahead service with their PayPal app in certain areas of the U.S. to pre-order and have their item waiting for them at a store, already paid for. Launched in January, Order Ahead is being tested at some Jamba Juice outlets. For quick service, users can touch an app on their smartphones to order ahead and say when they'll pick up the order, then have the transaction processed via PayPal before they get to the Jamba Juice outlet.

source: news.investors.com

Good Customer Service Makes Banking Consumers Feel Financially Confident

According to a survey by TD Bank, 60% of consumers who are happy with their bank say they they have low- or no financial stress, and more than half are optimistic about their financial future. Moreover, consumers who define themselves as happy with their bank spend 72 minutes less (7.3 hours vs. 8.5 hours) each week worrying about their financial situation compared to those who say they are not happy with their bank.

“All banks are not the same when it comes to the service they provide. Research shows those who feel valued by their bank are more likely to be happy with their financial state,” said Ryan Bailey, EVP/Head of Deposit Products at TD Bank.

TD Bank surveyed more than 1,500 consumers all along the east coast — from Maine to Florida — to better understand consumers’ banking experiences, their financial stress, as well as their financial outlook.

Other key findings from the survey include:

• Three-out-of-four respondents aged 18-34 noted friendly service as a key characteristic to an ideal banking relationship compared to 82% of ages 35-54 and 89% of those 55+.
• When examining the nature of banking interactions, the majority of consumers are using bank branches (73%) followed by phone (30%) and online (13%)
• Not surprisingly, those 18-34 are most likely to go online, however 65% still use bank branches.
• Top financial goals among those polled included saving (56%) followed by paying off debt (38%) and planning for retirement (36%).
• Among those aged 35-54, saving and investing more (63%) and planning for retirement (49%) were top priorities.

Based on the survey, Bailey concluded that “fast and simple” customer service is the key to influencing customer feelings of satisfaction. For customers to feel valued by their financial institution, the most critical components most often cited include friendly service (82%), knowledgeable advice (62%) and being a reliable financial resource (60%).

Bailey says banks have an opportunity to improve customers’ financial lives beyond the functional aspects of transactions. He says consumers will have positive brand associations with their primary financial provider if banks and credit unions would help them make banking easier.

Financial marketers should seek to establish a positive connection with consumers and foster trust, because people’s feelings of satisfaction towards their bank can give them a solid foundation to build a more confident and secure financial future, Baily explains.

The study was conducted from January 23-28, 2013. The sample size of 1,520 has a margin of error of +/- 2.5%. The survey was hosted by global research company Angus Reid Public Opinion.

 source: thefinancialbrand.com

5 Tips to Save on Baby Clothes

Research shows that it takes around $200,000 to bring up an 18 year old from birth. When resources are limited and the necessities such as education, health, etc, cost a lot, you have to cut down on avoidable expenses. Smartly clothing your baby can help you cut costs significantly. Try following some of the tips below. [Also See: What It Really Costs to Raise a Child]

Size Smartly

Shorter clothes might look cute and even chic on little toddlers but they don’t last long. Try buying sizes that you think will last longer. Also prefer clothes with elastics at the waist instead of belts. Add buttons or hooks in a horizontal row to belts if possible. As your baby puts on weight, the consecutive buttons or hooks can be hooked.

Color with Care

Needless to mention, select colors for tops and bottoms in a way that maximizes the number of combinations you could create. This is especially relevant for those who go frequently for outings with friends and family. Go for basic colors such as red, blue, yellow and green more often than other uncommon colors which might not fare well with other uncommon colors.

Be Cautious about Quality

There are times when you forget all the lessons learned from purchasing cheap clothing earlier. And then you re-learn those lessons when a disaster happens after you put those cheap clothes in the washing machine. Also, always look carefully for instructions at the back that explain how that clothing may be washed and ironed.

Material Matters

Choose materials that are more stretchable. They would be able to take care of your baby’s growth spurts. Also, choose materials that can be worn more even when seasons change. For example, instead of buying very warm sleeping suits buy a relatively less warm collection of suits. As the coldest of days approach, slip in warmer vests. This way the suits will be able to be in use for a longer while.

Style Slyly

Certain styles such as frocks, dresses and skirts for girls and overalls for boys last longer. Prefer such smart styles that your baby can wear for a longer period. Buy socks without heels so that they can be used for a longer time. And remember you can alter clothes creatively too. When sleeping suits start becoming a bit tight, cut off the portion covering the feet. That should make it last a couple of months more because your baby grows more vertically than horizontally.

source: financialhighway.com