Online spending trends outperform brick-and-mortar

February 22, 2009 by Admin · Leave a Comment 

comScore (NASDAQ : SCOR), a leader in measuring the digital world, have released online spending data by category for the online holiday shopping season, which showed that trends in online spending outperformed offline in several key product categories. The study compared comScore e-commerce data to overall (online and offline) consumer spending data published by MasterCard Advisors’ SpendingPulse Unit for the period of Nov. 1 – Dec. 24 vs. year ago.


SpendingPulse is an information service provided by MasterCard Advisors, a subsidiary of MasterCard Worldwide. A macro-economic indicator, SpendingPulse reports on national retail and service sales and is based on aggregate sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check.

According to comScore, the top growing online product category for the season was Sport & Fitness, which grew 18 percent versus year ago. The category continues to benefit from consumers’ focus on health and fitness and consumers feeling more comfortable purchasing higher-priced fitness equipment, such as treadmills and elliptical machines, online. The second fastest-growing category was Video Games, Consoles & Accessories, which grew 14 percent on continued demand for popular consoles, such as the Nintendo Wii, Microsoft Xbox 360 and PlayStation 3. Apparel & Accessories, the only other product category with positive online growth, generated higher sales as a result of retailers’ aggressive discounting and promotions, and helped by unfavorable weather across much of the country.

Top Online Product Categories for 2008 Holiday Season Excludes Auctions and Large Corporate Purchases Dec. 1-24, 2008 vs. Nov. 26 – Dec. 19, 2007

Product Category Y/Y change
Sport & Fitness 18%
Video Games & Accessories 14%
Apparel & Accessories 4%
Books & Magazines -1%
Consumer Electronics -5%

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Job Vacancies in Record Fall

February 20, 2009 by Admin · Leave a Comment 

Job centre queue

Job centre queue

The Recruitment and Employment Confederation (REC) said there had been a continued weakness in the labour market in recent weeks, with job vacancies falling at record levels.

Increasing numbers of workers being made redundant was coinciding with fewer new job opportunities becoming available.

There were sharp increases in the number of people looking for permanent and temporary work, a study found.

The report also noted a shift in bargaining power towards employers, with average salaries for successful candidates placed in permanent jobs falling for a fourth successive month in January.

The rate of decline in pay was the fastest since data collection started in 1997, while hourly pay rates for temporary staff was also down sharply.

Kevin Green, chief executive of the REC, said: “These figures continue to cause real concern and confirm that the labour market is continuing to contract, although the decline in permanent placements is less marked than in the previous month.

“The Government needs to breathe life into the jobs market, for example by harnessing the contribution of temporary work as a valuable mechanism for keeping people in employment.

“This means extending the employer incentives announced at last month’s jobs summit to take on and train temporary staff. It is also important that any steps to boost the jobs market are not undermined by potentially damaging legislation. In particular, the Government’s plans to introduce a tax on some temporary work from April must be delayed if we are to avoid even more jobs being lost at this critical time.”

Mike Stevens, of KPMG, which helped with the research, added: “Yet another month of desperate news on the UK employment front although there is a perceptible slowing in the rate of decline in permanent placements.

“Most employers are now looking at ways to cut cost to mitigate falling sales revenues. High on the list of costs, for what has largely become a service economy, is wages.”

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Woolworths Relaunches as Online Business

February 17, 2009 by Admin · Leave a Comment 

WOOLWORTHS is to be re-launched as a web only business.

Sir David and Sir Patrick Barclay have bought the much-loved chain along with Ladybird, the childrens brand it owned, for a price of “more than £1″, according to Mark Newton Jones, CEO of the Shop Direct group, the Barclays’ shell company used for the acquisition.

However, it is unlikely any staff who were based at the Weston-super-Mare store will retain their jobs, as only a fraction of the 30,000 workforce are expected to be kept on.

The High Street store closed and 65 people were laid off on December 27 after company bosses announced debts of £300million.

The twins, who also own the Daily Telegraph, will add the Woolworths brand aloongside Great Universal and Marshall Ward in their Shop Direct group.

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High-earning professionals lead dole queue

February 9, 2009 by Admin · Leave a Comment 

High-earning professionals such as architects, quantity surveyors and lawyers are joing the dole queue at a faster rate than any other type of worker, new figures have revealed.

The number of tax advisers, commercial pilots and underwriters out of work and claiming benefits has also more than doubled in a year, according to the Office of National Statistics. Economists believe top earners who escaped the full brunt of previous recessions are among those hardest hit now.

“In the 1980s it was blue-collar unemployment; in the 1990s it was white collar unemployment,” said Graeme Leach, chief economist at the Institute of Directors. “In this recession we’re seeing something new: high-income unemployment.

“These are individuals with nice houses and two children in private schools who are suddenly seeing their standard of living plummet. This will be one of the hallmarks of this recession”.

More than 1.1m people were out of work and claiming benefits by the start of December – up from 787,000 a year earlier.

Middle-aged workers are among the biggest victims.  There has been a 30% rise in unemployment among the over-fifties in the last quarter of 2008, while joblessness between 25 to 49-year-olds rose by 5%.

Following is the full list of occupations affected by the recession

Applicants by profession applying for dole.

Profession Dec 07 Dec 08   %age increase
Quantity surveyors 100 590   490
Architects 150 810   440
Architectural technologists and town planning technicians 130 680   423.1
Managers in construction 785 4010   410.8
Chartered surveyors (not quantity surveyors) 230 850   269.6
Solicitors and lawyers, judges and coroners 345 1165   237.7
Heavy goods vehicle drivers 2645 8880   235.7
Water and sewerage plant operatives 70 225   221.4
Civil engineers 390 1205   209
Mobile machine drivers and operatives n.e.c. 1015 3110   206.4
Legal secretaries 420 1275   203.6
Taxation experts 25 75   200
Bricklayers, masons 4325 12600   191.3
Crane drivers 215 595   176.7
Town planners 55 150   172.7
Aircraft pilots and flight engineers 105 285   171.4
Insurance underwriters 120 325   170.8
Building and civil engineering technicians 195 525   169.2
Garage managers and proprietors 140 375   167.9
Carpenters and joiners 6685 17625   163.6
Scaffolders, stagers, riggers 1420 3715   161.6
Personnel and industrial relations officers 800 1940   142.5
Estimators, valuers and assessors 215 520   141.9
Property, housing and land managers 430 1010   134.9
Legal associate professionals 465 1085   133.3
Steel erectors 450 1050   133.3
Brokers 255 580   127.5
Plasterers 3425 7780   127.2
Buyers and purchasing officers 490 1070   118.4
Marketing and sales managers 3950 8585   117.3
Purchasing managers 215 465   116.3
Occupation unknown 2045 4405   115.4
Personal assistants and other secretaries 1590 3415   114.8
Financial institution managers 450 965   114.4
Transport and distribution managers 555 1190   114.4
Financial and accounting technicians 310 660   112.9
Quality assurance managers 235 500   112.8
Company secretaries 165 350   112.1
Construction operatives n.e.c. 3245 6785   109.1
Quarry workers and related operatives 125 260   108
Electricians, electrical fitters 3585 7445   107.7
Plumbers, heating and ventilating engineers 3625 7520   107.4
Conference and exhibition managers 275 570   107.3
Construction trades n.e.c. 2145 4445   107.2
Draughtspersons 520 1075   106.7
Plant and machine operatives n.e.c. 1260 2595   106
Finance and investment analysts/advisers 1025 2110   105.9
Financial managers and chartered secretaries 675 1375   103.7
Roofers, roof tilers and slaters 2080 4235   103.6
Legal professionals n.e.c. 180 365   102.8
Road construction operatives 1340 2710   102.2
Marketing associate professionals 955 1930   102.1
Customer care managers 595 1200   101.7
Merchandisers and window dressers 300 605   101.7
Floorers and wall tilers 1645 3310   101.2
Police officers (inspectors and above) 10 20   100
Public relations officers 265 530   100
Transport and distribution clerks 260 520   100
Air transport operatives 175 350   100
Assemblers (vehicles and metal goods) 565 1110   96.5
Glaziers, window fabricators and fitters 2020 3950   95.5
Credit controllers 340 660   94.1
Management accountants 385 745   93.5
Sales representatives 3135 6035   92.5
Welding trades 3010 5780   92
Advertising and public relations managers 490 940   91.8
Business and related associate professionals n.e.c. 540 1020   88.9
Air travel assistants 360 680   88.9
Office managers 1440 2710   88.2
Pipe fitters 570 1070   87.7
Chemical and related process operatives 280 525   87.5
Personnel, training and industrial relations managers 865 1615   86.7
Recycling and refuse disposal managers 75 140   86.7
Estate agents, auctioneers 555 1035   86.5
Production, works and maintenance managers 1605 2990   86.3
Public service associate professionals 65 120   84.6
Metal plate workers, shipwrights, riveters 340 625   83.8
Managers in mining and energy 60 110   83.3
Protective service associate professionals n.e.c. 30 55   83.3
Medical secretaries 145 265   82.8
Security managers 170 310   82.4
Lines repairers and cable jointers 225 410   82.2
Public service administrative professionals 565 1015   79.6
Management consultants, actuaries, economists and statisticians 635 1135   78.7
Quality assurance technicians 275 490   78.2
Metal machining setters and setter-operators 985 1755   78.2
Sales related occupations n.e.c. 1400 2490   77.9
Archivists and curators 200 355   77.5
Storage and warehouse managers 1340 2370   76.9
Information and communication technology managers 1665 2925   75.7
Chartered and certified accountants 590 1035   75.4
Leather and related trades 80 140   75
Production and process engineers 380 660   73.7
Accounts and wages clerks, book-keepers, other financial clerks 3775 6555   73.6
IT strategy and planning professionals 860 1490   73.3
Plastics process operatives 560 970   73.2
Paper and wood machine operatives 675 1165   72.6
Bookbinders and print finishers 265 455   71.7
Mechanical engineers 1285 2205   71.6
Dispensing opticians 35 60   71.4
Moulders, core makers, die casters 175 300   71.4
Vehicle spray painters 755 1290   70.9
Hotel and accommodation managers 420 715   70.2
Travel agency managers 50 85   70
Engineering technicians 605 1025   69.4
Telecommunications engineers 815 1380   69.3
Careers advisers and vocational guidance specialists 225 380   68.9
Design and development engineers 415 700   68.7
Metal working production and maintenance fitters 2030 3390   67
Printers 785 1310   66.9
Science and engineering technicians n.e.c. 135 225   66.7
Sheet metal workers 500 830   66
Customer care occupations 10045 16660   65.9
Process operatives n.e.c. 2475 4075   64.6
Rail construction and maintenance operatives 615 1010   64.2
Vehicle body builders and repairers 865 1420   64.2
Furniture makers, other craft woodworkers 555 910   64
Product, clothing and related designers 940 1540   63.8
Electrical engineers 510 825   61.8
Planning and quality control engineers 230 370   60.9
Upholsterers 300 480   60
Hand craft occupations n.e.c. 175 280   60
Van drivers 29975 47825   59.5
Journalists, newspaper and periodical editors 835 1330   59.3
Engineering professionals n.e.c. 605 960   58.7
Importers, exporters 120 190   58.3
Elementary sales occupations n.e.c. 180 285   58.3
Retail and wholesale managers 3005 4750   58.1
Call centre agents/operators 4550 7190   58
Stock control clerks 950 1500   57.9
Civil Service administrative officers and assistants 2465 3880   57.4
Rail transport operatives 175 275   57.1
Bus and coach drivers 1315 2065   57
Research and development managers 290 455   56.9
Refuse and salvage occupations 1385 2170   56.7
Telephone salespersons 1670 2615   56.6
Fork-lift truck drivers 12040 18795   56.1
NCOs and other ranks 225 350   55.6
Transport operatives n.e.c. 135 210   55.6
Occupational hygienists and safety officers (health and safety) 235 365   55.3
Social science researchers 300 465   55
Auto electricians 200 310   55
Prison service officers (below principal officer) 155 240   54.8
Electroplaters 175 270   54.3
Pharmaceutical dispensers 120 185   54.2
Tool makers, tool fitters and markers-out 250 385   54
Receptionists 6075 9330   53.6
Electrical/electronics engineers n.e.c. 925 1420   53.5
Agricultural and fishing trades n.e.c. 490 750   53.1
Roundsmen/women and van salespersons 85 130   52.9
Managers and proprietors in other services n.e.c. 695 1060   52.5
Pensions and insurance clerks 250 380   52
Hairdressing and beauty salon managers and proprietors 175 265   51.4
Assemblers and routine operatives n.e.c. 9255 13950   50.7
Directors and chief executives of major organisations 640 960   50
Officers in armed forces 80 120   50
Air traffic controllers 30 45   50
Train drivers 60 90   50
Vocational and industrial trainers and instructors 730 1095   50
Statutory examiners 30 45   50
Environmental health officers 70 105   50
Pest control officers 90 135   50
Agricultural machinery drivers 180 270   50
Metal working machine operatives 2075 3110   49.9
Debt, rent and other cash collectors 195 290   48.7
Bar staff 12465 18530   48.7
IT user support technicians 3245 4815   48.4
Graphic designers 3260 4835   48.3
Routine inspectors and testers 480 710   47.9
Undertakers and mortuary assistants 115 170   47.8
Painters and decorators 11165 16490   47.7
Registrars and senior administrators of educational establishments 85 125   47.1
Local government clerical officers and assistants 1195 1755   46.9
Electronics engineers 545 800   46.8
Police officers (sergeant and below) 280 410   46.4
Restaurant and catering managers 1135 1660   46.3
Building inspectors 65 95   46.2
Conservation and environmental protection officers 555 810   45.9
Ambulance staff (excluding paramedics) 120 175   45.8
Industrial cleaning process occupations 1355 1975   45.8
Rubber process operatives 55 80   45.5
Tyre, exhaust and windscreen fitters 1125 1635   45.3
Retail cashiers and check-out operators 6000 8705   45.1
Other goods handling and storage occupations n.e.c. 68475 99060   44.7
Managers in animal husbandry, forestry and fishing n.e.c. 45 65   44.4
Elementary office occupations n.e.c. 790 1135   43.7
Typists 195 280   43.6
Senior officials of special interest organisations 115 165   43.5
Filing and other records assistants/clerks 865 1240   43.4
Housekeepers and related occupations 660 945   43.2
General office assistants/clerks 52340 74895   43.1
Researchers n.e.c. 455 650   42.9
Paramedics 35 50   42.9
Fire service officers (leading fire officer and below) 175 250   42.9
Broadcasting associate professionals 665 950   42.9
School secretaries 70 100   42.9
Civil Service executive officers 620 885   42.7
TV, video and audio engineers 480 685   42.7
Travel agents 610 870   42.6
Sports and fitness occupations n.e.c. 400 570   42.5

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Over 80% of workers interested in entrepreneurship: survey

February 6, 2009 by Admin · Leave a Comment 

With more and more workers seeing their livelihoods threatened by rising unemployment, entrepreneurship is being seen as a new way out, according to the results of arecent survey released Friday by the online employment broker 104 Job Bank.

The survey found that 81.6 percent of workers are interested in starting a business, 7.6 percent of whom are determined to do so.

Of these potential entrepreneurs, 15.2 percent said they are thinking of making a change because their employment situation is not good. However, the two reasons the respondents mentioned most frequently for wanting to start a business were a desire to live the life they want and to realize their dreams.

The results showed that older workers, especially those in their 50s, are most likely to turn to entrepreneurship because of unemployment, with 26.6 percent of workers in this age group saying that losing their jobs was what gave them the urge to start a business.

Some 23.3 percent of respondents interested in entrepreneurship plan to move in that direction within one year, 22.5 percent intend to do so in one to two years, 19.9 percent in two to three years, and 34.4 percent in three years or more, according to the survey.

The survey also revealed that older workers tend to be more proactive in trying to put the idea into practice.

More than 53 percent of respondents in their 40s and 40 percent of those in their 50s are planning to start a business within one year, compared to 24.6 percent of those in their 30s and 15.1 percent of those in their 20s.

On average, the potential entrepreneurs would require £11,500 in startup funds, the survey found.

As to the kinds of business they what to run, 39.4 percent expressed interest in coffee shops, restaurants or snack bars, and 39.1 percent indicated a preference for operating an online business.

Nearly 40 percent of the potential entrepreneurs are optimistic that they can make a profit in six to 12 months after start-up, and 23.7 percent expect a gain within six months.

Meanwhile, among the respondents who have no desire to go into business, 61.5 percent think starting a venture in times of economic recession is a risky undertaking.

Other reasons mentioned by this group of respondents included a lack of capital, lack of personal qualities to run a business, and lack of any special expertise.

The survey was conducted Jan. 19-23 among 7,632 members of the job bank. It had a margin of error of 1.12 percent.

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250% jump in bust companies

February 6, 2009 by Admin · Leave a Comment 

The number of large companies going bust leapt by 250% in the last three months of 2008 as the economic downturn took its toll.

Consumers also felt the pain asa the number of bankruptcies last year soared to the highest level since records began nearly 50 years ago.

The total number of businesses going bust, which covers administrations and liquidations, rose by more than 50 per cent as increasing numbers of firms struggled to access finance or secure insurance. But experts warned that the figures were set to rise higher in the coming year.

Malcolm Shierson, Partner at Grant Thornton’s Recovery and Reorganisation practice,aid “These numbers are bad, but they are going to get progressively worse as business and consumer confidence continues to fall.”
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“Companies across all sectors will struggle when they need to refinance their debt as lenders rein back on corporate lending. On top of this, the arteries of business are being clogged up as credit insurers cut back on the provision of cover for suppliers and contractors.”

Some 2,018 businesses entered into administration — the insolvency scheme usually used by larger companies — between October and December last year, up from 575 in the final quarter of 2007, figures from the Insolvency Service show.

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