Best US chain stores, in-store touchscreen shopping, and ‘the money talk’: Consumerazzi’s Weekly News Headlines

Posted on 07 Feb, 2012 by admin | Permalink 0

Touchscreen ShoppingEvery week Consumerazzi presents some of the past week’s news headlines that relate to consumers, businesses, and shopping. As there is plenty of dry statistical information out there, Consumerazzi tries to steer towards stories that have relevancy beyond the straight numbers of economics.

Savvy shoppers weigh in on the nation’s major chain stores: Consumer Reports recently surveyed its subscribers to better determine what major chain stores in the U.S. were favored most. According to more information released in a PR release, Consumer Reports found that “Costco was the only chain to earn an outstanding grade for the overall quality of its merchandise, whether in stores or online.”

What does that mean for consumers? Consumer Reports is technically a mouthpiece for the savvy U.S. shopper, and the people made their voices heard. Additional things consumers noted include:

• Kohl’s and Target ranked highly for their store layouts. Target’s website wasn’t rated as being all that friendly, however.
• Macy’s rated above average for its product quality and store layout.
• Sears’ online customer service is lacking.
• Kmart received low marks for value, selection, service, and checkout speed.

Sears and Kmart made headlines recently with news that Sears Holdings Corporation would be closing 100 to 120 stores to “reduce expenses.” Given the negative news from the Consumer Reports research, it doesn’t look like things are getting any better for the beleaguered chains.

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Touch-screens create online shopping experiences at stores: Hadley Malcolm of USA Today Money ran with an interesting story about how some brick and mortar stores are trying to “bring the convenience of online shopping to the offline world” by installing interactive touchscreens that allow shoppers the opportunity to browse the store’s inventory.

What does that mean for consumers? “It is particularly aimed at a customer who comes into a department store but really prefers to shop on their own, as opposed to coming up to a counter and getting assistance,” Macy’s spokesman Jim Sluzewski told USA Today.

Macy’s is testing several large interactive flatscreens in four of its stores, with the intent of determining if they increase departmental sales. Adidas is also getting into the act in one of its London stores. The Home Shopping Network is testing out the tech in public places as a way to draw more people on to the online seller’s website. In all, the tone of the article seems to indicate that retailers believe that offering online experiences in public locations like stores, airports, and malls will increase sales and interest, while also appealing to the self-serve shopper.

Oddly enough, the article makes it sound like this is a new revelation, but it’s really not. USA Today reported in 2007 on a similar premise by retailer Ralph Lauren, which implemented a 24-hour interactive touchscreen outside of its London store to allow people to purchase goods at any time of day.

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Money talks this Valentine’s Day: Australian columnist Rebecca Masters says that this Valentine’s Day, seriously involved couples should watch out for what she calls “Sexually Transmitted Debt,” the kind of debt some people inherit when they marry a partner. Masters recommends ensuring the topic gets discussed when the relationship starts getting serious, and she gives a few tips on what to discuss.

What does that mean for consumers? “When love is blooming, many people avoid discussing their personal finances for fear it will put a dampener on their romance,” Tweed Heads AMP financial planner Wendy Scarlett told Masters for her column. “But it can be a real shock if a person discovers later on that their partner has several maxed out credit cards and a high-interest personal loan.”

The same topic was also brought up recently by TD Canada Trust, which revealed (via a recent survey) that 77 percent of Canadians “claimed that they wouldn’t commit to someone who had excessive debt or a history of poor financial management.” Apparently some folks are just as serious about their partner’s finances as they are about their endearing personality traits. It makes me wonder, however, with so much doom and gloom about consumer debt, how many romantic relationships today don’t have debt involved in the mix.

If you were madly in love with someone, would you broach “the money talk” with you partner, and if so, what would you say? Tell us in a comment.

Photo via Steve Nagata, Flickr Creative Commons

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Payday loans, hospitals perks, and the best bargain shopping in the US : Consumerazzi’s Weekly News Headlines

Posted on 23 Jan, 2012 by admin | Permalink 0

Discount ShoppingEvery week Consumerazzi presents some of the past week’s news headlines that relate to consumers, businesses, and shopping. As there is plenty of dry statistical information out there, Consumerazzi tries to steer towards stories that have relevancy beyond the straight numbers of economics.

Consumer Bureau Targets Payday Loans: With Richard Cordray now heading the recently formed Consumer Financial Protection Bureau (CFPB), one of the first major goals was announced last week: to give the questionable tactics of payday lenders “much more attention.” Condray said that some payday lenders engage in “practices that present immediate risk to consumers” and once discovered, “immediate steps to eliminate them” will be taken.

What does that mean for consumers? The controversy surrounding payday loans has been going on for quite some time, at least in the United States. Some say that the practice itself (loaning an earnings-based sum of money for a short-term period) isn’t wrong, but rather it’s the dodgy terms that some lenders use as part of the service. Others state that the short-term nature of the payday loans themselves — combined with the propensity of low-income families to utilize them — inevitably yields profits for lenders and debts for those who utilize the system. Regardless, it sounds like Condray and the CFPB are set to give more scrutiny to the practice. It’s too early to know what the CFPB’s stronger enforcement will mean for consumers: will consumers eventually get longer terms attached to payday loans, or will there be fewer lenders after it’s all said and done? It depends on how the CFPB defines risky practices. For now it’s a “wait and see” approach for consumers.

Further reading: The History of Payday Loans – A Necessary Evil?

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Hospitals offer patients free parking, discount shopping, seminars and screenings: According to a recent story by Washington Post columnist Michelle Andrews, “[a] growing number of [U.S.] hospitals are seeking to attract new patients and keep existing ones by offering them an array of perks, from free parking and gift-shop discounts to wellness seminars and health screenings.”

What does that mean for consumers? With the 2010 overhaul of the U.S. health care system, hospitals are now facing stronger penalties for readmission rates of patients, potentially forcing a more long-term approach to patient healthcare. “Health-care providers are just starting to figure out that they need to develop patient relationships if they’re going to improve their health long term,” chief executive of Paquin Healthcare Tony Paquin told the Post.

Andrews’ article also mentions aggressive competition in the health care field leading some providers to the conclusion that developing closer relationships with patients will create greater customer loyalty. Does this mean more U.S. consumers in need of healthcare will be looking for non-health related perks when gauging which hospital, clinic, or practitioner to turn to? This strikes me as a marketing gimmick and not a true representation of health care providers genuinely being interested in the long-term health of patients. I’d personally rather that my doctor share his medical notes with me and discuss long-term strategies than receive discounts in the hospital gift shop. And yes, this compromise can be reached.

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The Best U.S. Cities For Bargain Shopping: Forbes has decided for the first time to compile a list of the 10 best U.S. cities for bargain shopping. Why? “Because despite increased consumer optimism in the U.S. economy, new research … underscores shoppers’ continued focus on maintaining the frugal shopping patterns made habit during the recession,” wrote Forbes’ Meghan Casserly. “Armed with this information, we looked to finding the best cities in the nation for scoring a retail deal.”

What does that mean for consumers? Forbes puts cities like Orlando, Florida on display, in this case for its prominence as a place for travelers to drop by a luggage outlet and buy an empty suitcase, sure to later fill it with shopping spoils. Philadelphia gets mentioned for its lack of taxation on clothing and shoes, and Cincinnati for its recent emphasis on luring numerous discount vendors to the city. While it doesn’t entirely make sense for your average U.S. consumer to buy a plane ticket to one of these cities for the sole purpose of finding shopping bargains, I suppose it’s possible that big-ticket items may present a big enough discount to provide savings even after the travel expenses. Rather, I imagine consumers already planning trips to these cities for business or pleasure may make a pit stop (or ten) while they’re there to take advantage of the shopping opportunities at discount outlets.

Would you fly or drive to a place more than 300 miles away for the sole purpose of going on a discount shopping spree? Leave a comment and let us know!

Photo via Mirko Tobias Schaefer, Flickr Creative Commons

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Consumer Electronics Show, consumer protection, and mobile shopping satisfaction: Consumerazzi’s Weekly News Headlines

Posted on 12 Jan, 2012 by admin | Permalink 0

CES 2012Every week Consumerazzi presents some of the past week’s news headlines that relate to consumers, businesses, and shopping. As there is plenty of dry statistical information out there, Consumerazzi tries to steer towards stories that have relevancy beyond the straight numbers of economics.

The best of CES 2012: The International Consumer Electronics Show (CES) is wrapping up, and again the editors of CNET have put together their Best of CES awards, highlighting the most impressive new cameras, computers, phones, and other electronic gadgets showcased during the convention. The awards give die-hard “must have it first” consumers a chance to consider some of the best upcoming technology in their respective classes.

What does that mean for consumers? The CES is always a big hit with consumers around the world as hundreds of vendors demonstrate the best tech their businesses have to offer. The journalism that comes out of the event (including the awards by CNET) allows potential tech buyers an inside peek at the latest, greatest gadgets. Even if you’re not one to feel obliged to always have the most cutting-edge technology, the press stands to give everyone a chance to see the direction technology is going these days. For example, I learned today that a sweet spot between “point and shoot” and digital SLR cameras exists: the mirrorless “interchangeable lens camera.” The Fujifilm X-Pro 1 is an example of this sort of technology, winning a Best of CES award. And are some of you just as excited as I am about the Asus Memo 370T tablet? All said, the CES at a minimum provides an interesting window for consumers to peer through and daydream.

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Obama visits consumer watchdog agency, introduces Cordray as new director: Last week President Obama used a “recess appointment” to unilaterally appoint former Ohio Attorney General Richard Cordray as head of the newly formed Consumer Financial Protection Bureau (CFPB).

What does that mean for consumers? Consumerazzi first reported on this situation in December after the U.S. Senate blocked Obama’s nomination. The CFPB — an agency intended to “promote fairness and transparency for mortgages, credit cards, and other consumer financial products and services” — has been running in a very limited fashion since its inception in late July. The lack of a director meant that no new rules could be implemented, and little in the way of compliance checking could be performed. Obama used his power to make a recess appointment in order to ensure the CFPB could run fully as intended and “to make sure everyone is playing by the same rules, that big banks on Wall Street play by the same rules as Main Street.” While the move is legal but contentious, the Senate isn’t fully without power: it may deny approval of the appointee after a calendar year has passed. Regardless, the consumer watchdog agency can at least for now be utilized to the fullest, hopefully in the long term justifying its use of tax dollars for U.S. consumers’ benefit.

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Apple tops U.S. retailers in mobile shopping customer satisfaction: Consumer pollster ForeSee Results found that U.S. consumers were happiest with Apple, Amazon, and Dell when it came to mobile shopping satisfaction during last year’s holidays. The company also found that of all online shoppers during the holidays, 38% of them used a phone or other mobile device to access a vendor’s website.

What does that mean for consumers? “As the adoption of smartphones increases, more consumers are using them to access retailer websites,” said CEO Larry Freed in a statement that accompanied the results. He went on to say that vendors would do well to consider how friendly their website is to potential shoppers using mobile technology. This may mean more than just optimizing a mobile version of the site, however. The Amazons and Apples of the world are also offering specific applications for users to better browse their wares. It’s apparent that consumers who engage in mobile shopping are looking for a quality experience, and they’re making it known. Granted, quality customer service can’t hurt, and it’s no surprise that both companies fared well in 2011. Perhaps more companies will take notice in 2012 and offer better mobile options to online shoppers.

What was your experience like with mobile shopping last year? Do you expect to do more shopping from your mobile phone or tablet in 2012? Let Consumerazzi know; we love comments!

Photo via LGE, Flickr Creative Commons

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Holiday bargain hunts, Verizon fees, and saving money in 2012 : Consumerazzi’s Weekly News Headlines

Posted on 04 Jan, 2012 by admin | Permalink 0

VerizonEvery week Consumerazzi presents some of the past week’s news headlines that relate to consumers, businesses, and shopping. As there is plenty of dry statistical information out there, Consumerazzi tries to steer towards stories that have relevancy beyond the straight numbers of economics.

Bargain hunters divided shopping season into two: A look back at the retail shopping period between Black Friday and Christmas reveals that “60 percent of [U.S.] shoppers polled were looking for discounts of more than 50 percent,” and many of those deeper discounts were to be had around Black Friday and directly before Christmas. The two-week period after Thanksgiving weekend “showed the biggest percentage sales decline since 2000,” as shoppers stayed firm to convictions of biting on only the deepest discounts. After-Christmas sales were also a hit.

What does that mean for consumers? With a tougher economy and less money to spend in general, consumers waited until the deepest discounts appeared on Black Friday and the period directly leading up to Christmas. And the discounts certainly arrived. Of course, this news doesn’t seem to take into account online sales. As online retailers often have lower overhead than bricks and mortars stores, online vendors can offer even deeper discounts and still make profit, even at a narrow margin. Oh, and another benefit to buying online? You can still buy when the bricks and mortars are closed. U.S. consumers even took advantage of online sales on Christmas Day, creating a 16.4 percent increase in online Christmas Day purchases from 2010. In all, it seems savvy shoppers are willing to take advantage of deep discounts, even if it means doing a little shopping at home on a holiday.

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Verizon backs off plan to charge $2 convenience fee amid consumer backlash: On the Friday before New Years, Verizon caved to pressure from consumer advocacy groups and the U.S. Federal Communications Commission and rescinded its previously announced $2.00 convenience fee for online and mobile bill payers.

What does that mean for consumers? Verizon customers originally faced having the additional fee charged to them if they paid their bill over the phone or on the company’s websites. But Verizon quickly pulled the proposed fee after customers, the FCC, and users of online consumer advocacy platforms like Change.org complained. When taking into account Bank of America’s recent retreat on new debit card fees and Netflix’s backpedal on separating its streaming service — both driven by strong customer feedback — it seems consumers are beginning to become more vocal about changes to the services they use. While it remains to be seen if consumer awareness is growing in general, for now messing with people’s money and entertainment seems like a big no-no.

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101 ways to save money in the new year: “Common sense tells you to do some homework before opening your wallet,” say the business staff of The Seattle Times, who put together a list of 101 ways we all can save a little extra money in 2012.

What does that mean for consumers? Who doesn’t like lists, especially when it means saving money for something else you need or want? I wish this list were a bit more detailed, but such is life in the busy newsroom these days I suppose. Relevant examples would have given the list a bit more life. For example, they suggested “freeze, can, and store what you can’t use immediately.” If this were my article, I’d relate how one of the local grocery stores was recently selling 6 oz. containers of quality blackberries for $1.00 and how I bought many packages of them, tossing them in the freezer for future use.

Take a look at the Times’ list and let me know how you’d put their recommendations to practice. I’ll be sure to approve appropriate comments. Until later…

Photo via Robert Scoble, Flickr Creative Commons

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Unexpected shopping finds, after Christmas deals, and business news: Consumerazzi’s Odds and Ends

Posted on 27 Dec, 2011 by admin | Permalink 0

Shopping adventuresConsumerazzi takes a break this week with the holidays and all, and instead introduces Odds and Ends, a collection of random tidbits related to shopping. Here’s to hoping everyone’s holiday was bright, and may the New Year bring better things.

Unexpected shopping finds

This past week I stumbled across a few interesting shopping websites. I wanted to share them with you:

1. http://www.perpetualkid.com/ – I actually ran across this site a good while back when someone pointed out that you could buy the world’s largest gummy bear there. I had since forgotten about it until a friend mentioned it recently through social networking channels. Perpetual Kid is “home to the largest selection of fun and functional gifts for any occasion.” Browsing their wares is surprisingly addictive.

2. http://www.shopgoodwill.com/ – I was surprised to discover that Goodwill has an online auction site to support their goal of providing job training, educational tools, and services to people from many walks of life. Apparently stores from across the U.S. are involved, pooling their resources and inventories to expand their offerings globally. While some of the rarer items certainly receive just attention, the site still has a feel of being a lesser-known online auction site, with some good deals to be had. And the money goes to a good cause!

3. http://topazon.com/?s=99 – I’m not sure how I feel about this site. On one hand, the idea is a worthy one: present some of the most top-rated products of varying types that Amazon sells (based on certain subjective criteria) in one place. Browsing the list, I certainly found a few items of interest. On the other hand, I’m still on the fence when it comes to affiliate marketing. Yes, you’ll notice that every “Buy on Amazon” link has “?tag=toppppp99-20″, an affiliate marketing tag, added to the URL. The idea is clever, and the information seems useful enough. Just know that someone’s making a buck when you buy through those links.

After-Christmas deals

1. Adam at Lower the Bills posted a collection of links to after-Christmas deals. Check his post out. Sites like DealNews and Slickdeals also make for good places to check for post-Christmas sales.

Business news

1. Sears, Kmart to shut 100-120 stores: Apparently Sears and Kmart didn’t do to well this holiday season. While online shopping seems to have treated many businesses well this holiday, Kmart saw a 4.4 percent drop in sales and Sears a 6 percent drop in sales at domestic stores. Is this another tale of bricks and mortar stores that didn’t transition to the Web well enough, or is it something else?

Photo via Kristina D.C. Hoeppner, Flickr Creative Commons

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Mobile payments, budget shopping, and online shopping’s popularity: Consumerazzi’s Weekly News Headlines

Posted on 19 Dec, 2011 by admin | Permalink 2

Mobile shoppingEvery week Consumerazzi presents some of the past week’s news headlines that relate to consumers, businesses, and shopping. As there is plenty of dry statistical information out there, Consumerazzi tries to steer towards stories that have relevancy beyond the straight numbers of economics.

Consumer protections lagging for mobile payments, report says: Investigators for Consumers Union last week reported “consumer rights can vary widely between wireless carriers, and the protections carriers claim to provide are often nowhere to be found in consumer contracts.”

What does that mean for consumers? According to a July 2011 poll by The Pew Internet & American Life Project, 46 percent of U.S. consumers downloaded a mobile application to help them shop or buy something online. As more people turn to their mobile device to shop and make purchases, increasing awareness of the need for enhanced consumer protection on mobile devices is needed. This Consumer Union report is one step in furthering that awareness, specifically concerning carrier-based billing programs that allow mobile shoppers to apply digital purchases to their personal mobile account. “If wireless carriers want consumers to have confidence in direct carrier billing programs, they should strengthen their contracts with the protections consumers need,” Michelle Jun, senior attorney for Consumers Union, told the L.A. Times.

Consumers should carefully consider what their mobile carrier’s policy is and follow the tips Consumers Union lays out in this mobile payments tip sheet.

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Brain strain: Christmas shopping when money’s tight: With some scientists saying that we are (at least to some extent) wired to shop, how does our brain react to the need for shopping on a budget? There are at least a few things we can apparently do to spend less when faced with a strict shopping budget.

What does that mean for consumers? It’s easy to cave to the heady rush of holiday and bargain shopping, even when we’re limited by a budget. With all of its glitter and distraction, shopping at the mall may make it difficult to stay on budget. Shoppers may have better luck finding deals and removing distractions by shopping online. From the article, additional tips include:

* Go shopping by yourself.
* Create a list of things you need to buy and follow it closely “so you don’t get drained psychologically by having to make a lot of choices in stores.”
* Be willing to reduce other personal demands for self-control, allowing you to focus solely on the goal of staying on budget.
* Limit your shopping time to short bursts, as longer binges often result in a weakening of willpower.
* Make decisions on expensive purchases before or early on in the shopping trip.

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Online shopping moves into mainstream: “Long regarded as a mere curiosity to bricks-and-mortar shopping, online retailing has exploded during this year’s holiday shopping season, surprising even the most optimistic of retail observers,” says Thomas Lee of The Star Tribune.

What does that mean for consumers? Avoiding lines, taking advantage of free or relatively cheap shipping, and using useful shopping resources like Google Shopping and SlickDeals.net are all moving folks to the world of online shopping. With the Washington Post also reporting that online shopping for the holidays is up 15 percent over last year, it seems consumers are increasingly turning to online retailers for their holiday shopping needs. And they should be, though not without taking some extra precautions.

For a few additional search tools, don’t forget to use Consumerazzi’s vendor ratings tools, located at the top of the right-hand side bar, and visit some of the highlighted shopping-related blogs listed here. Happy shopping!

Photo via barcoo, Flickr Creative Commons

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Consumer protection attempts, customer satisfaction with wireless service, and credit card payments: Consumerazzi’s Weekly News Headlines

Posted on 12 Dec, 2011 by admin | Permalink 0

Credit CardsEvery week Consumerazzi presents some of the past week’s news headlines that relate to consumers, businesses, and shopping. As there is plenty of dry statistical information out there, Consumerazzi tries to steer towards stories that have relevancy beyond the straight numbers of economics.

Senate Stops Consumer Nominee: Last Thursday the U.S. Senate blocked the nomination of Richard Cordray to the recently-formed Consumer Financial Protection Bureau (CFPB).

What does that mean to consumers? Started in full on July 21, 2011, the CFPB intends to “promote fairness and transparency for mortgages, credit cards, and other consumer financial products and services.” Originally bureau founder Elizabeth Warren seemed the primary candidate to head the agency, but Obama selected Cordray instead. Fierce political opposition to both Cordray and the agency itself by many Republicans has long been problematic. As the intent of the agency itself is to help consumers and promote ethics within consumer structures, it’s important to note that the CFPB can only ensure banks are complying with existing laws. “It cannot write new rules or supervise other financial companies without a director,” states the New York Times.

Essentially tax dollars that go to the agency won’t be utilized to their fullest until a director is appointed. Once appointed, the watchdog agency can be more productive and do what it is intended to do: help the U.S. consumer.

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AT&T Ranks Last in Consumer Reports Customer Survey — Again: Consumer Reports recently surveyed U.S. wireless customers, determining for the second year in a row that AT&T ranked at the bottom in customer satisfaction in areas like voice, data and texting services; customer support; and overall value.

What does that mean to consumers? Consumer Reports polls U.S. customers every year on their satisfaction with wireless carriers, including more granular statistics in metro areas of the country. According to the responses from customers, Verizon ranked highest for having knowledgeable staff and competitive texting and data service. Sprint took second, making progress after finishing last in the rankings in 2009. With only four major carriers in the U.S., a sort of monopoly has made it more difficult for small carriers (praised in Consumer Reports’ research) to be competitive, though some governmental steps are being taken to help small carriers like Leap Wireless’ Cricket.

Unhappy AT&T customers are likely hoping that the company is listening to the negative feedback. A representative for the company told Wired.com “[a]s customer demand continues to skyrocket, our proposed T-Mobile merger will enable AT&T to improve our customers’ experience even more.” A wait-and-see approach is warranted.

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More consumers choosing to pay credit cards over mortgages: According to U.S. credit bureau TransUnion, consumers are paying off their credit card debt more efficiently than ever, bringing credit card delinquency to its lowest level in 17 years.

What does that mean to consumers? U.S. homeowners have traditionally went to greater efforts to protect their mortgage, while at the same time giving a bit more leeway to how promptly they pay their credit card payments. But the housing and financial crises in the country have created a reversal of that trend the last few years.

“The shift in consumer attitude is not surprising,” Georgia Tech professor Dan Immergluck recently told The Atlanta Journal-Constitution. “More people under foreclosure realize and accept they are losing their homes and so choose to protect their remaining financial tools.”

With all the talk of toxic loans, banking swindles, and foreclosures, it seems folks are putting more emphasis on (typically) smaller debts found in credit cards. Or maybe the new pet theory should be that more U.S. households are choosing to rent rather than buy their home, giving them more money to put down on their credit cards. What do you all think?

Photo via Andres Rueda, Flickr Creative Commons

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Welcome to Consumerazzi.net!

Posted on 08 Dec, 2011 by admin | Permalink 0

Consumerazzi.netHello, Internet traveler. However you may have stumbled across this little piece of cyber real estate, welcome. The purpose of this site is to eventually be a sort of hub for folks who do online shopping. Eventually you, online shopper, will be able to find seller ratings and vendor information to help you make a more informed decision about your online purchases.

While things look a little bare around here (this all came together in a whirlwind of about 24 hours), the site will definitely see more content. The only available tools at this moment are found to the right, in the sidebar. Enter the short name of an online vendor (amazon.com for example) and press the “Search” button to the right of the text box. Note the instructions at top, indicating not to use “www.” or “http://www.” in front of the address. With time, these search boxes will get better. Note that you’ll have to have JavaScript enabled in your browser to use them.

Once you’ve entered the online vendor into the text box and pressed “Search”, a new window will open up, containing search ratings for the vendor from the associated site.

More will eventually be added to the site, so stay tuned. This is definitely a work in progress. In the meantime, happy shopping!

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