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Tag: Consumer

  • Identity Theft is Top Complaint of Consumers in 2013

    Each year, the Federal Trade Commission collects data on consumer complaints and analyzes said data in order to improve consumer experiences in the United States. And for the 14th consecutive year, identity theft tops the charts as the most reported consumer complaint in the US.

    The FTC defines identity theft as that which “happens when someone steals your personal information and uses it without your permission.” Considering the definition of identity theft is so broad, one could expect it to be more reported than other consumer-related complaints.

    However, the enormity of the issue of identity theft should not be understated. According to the FTC, consumers lost $1.6 billion in 2013 due to cases of identity theft. Of over 2 million complaints filed with the FTC, law enforcement, or consumer complaint agencies, 290,056, or 14 percent, were attributed to cases of identity theft.

    Taking a closer look at the numbers, one can get a picture of the most vulnerable ways for one to become a victim of identity theft. Of all identity theft cases, 43 percent were victimized through email, 21 percent through a telephone conversation, and another 20 percent through a website. The average reported loss due to fraud was $2,294 per consumer.

    Adam Levin, the Co-Founder and Chairman of Credit.com and IdentityTheft911, discussed the importance of protecting against identity theft: “Today’s Consumer Sentinel Report underscores something too many Americans already know first-hand: identity theft is a persistent, pernicious crime. In light of the recent, unrelenting string of data breaches in the retail and higher education sectors, the number of people victimized by identity thieves is only going to grow by leaps and bounds. Identity thieves are going to keep coming at us through every means at their disposal, be that through illicitly-acquired phone numbers or leaked emails, and they won’t stop because it continues to be extremely lucrative for them. ”

    The numbers support Levin’s statement. Due to the drastic surge in identity theft schemes, consumer information is now flooding the black market. According to a Dell SecureWorks report, scammers and identity thieves can now buy “fullz” – dossiers full of consumer information such as names, social security numbers, dates of birth, addresses, and phone numbers – for the low price of $25. This price is down a staggering 37 percent from the previous year, most likely due to an over-abundance of readily available information at thieves’ disposal.

    If one feels as if one has been a victim of identity theft, the FTC encourages a visit to its website where one can glean information on the steps to take immediately upon discovering that one has been a victim of identity theft.

  • Wendy Davis Says Official Should Resign for Lending Views

    On Monday, State Sen. Wendy Davis suggested to Gov. Rick Perry the resignation of William J. White, chairman of the Texas Finance Commission.

    White was appointed by Gov. Perry in 2011 to chair the Office of the Consumer Credit Commissioner, an agency built on the bases of protecting loan borrowers from the rapacious and faulty practices of lenders.

    Oddly enough, White is also vice president of Cash America, a major payday lender accused of making money off the poor.

    Davis’ proposal ironically stems from a statement by White she views to be insensitive towards consumers, revealing a complete contradiction to his leadership role in the Office of the Consumer Credit Commissioner.

    In a past report by El Paso Times, the official said that consumers are responsible for their own debt caused by loan entrapment.

    In response to city Rep. Susie Byrd who believes that Cash America purposely payout out loans to desperate borrowers unable to make consistent repayments, White implies that payday loan consumers are accountable for their own debt.

    “People make decisions. There’s nobody out there that forces anybody to take any kind of loan. People are responsible for their decisions, just like in my life and in your life. When I make a wrong decision, I pay the consequences,” he told El Paso Times.

    Cash America was fined $19 million by the Consumer Financial Protection Bureau last month for abusive practices.

    Davis deems that White’s role in both areas is simply a conflict of interest.

    “William White can’t protect Texas consumers while he represents a predatory lending company on the side,” Davis said.

    However, in a statement by Yolanda Walker, vice president of public relations and corporate communications, she defends her fellow Cash America colleague:

    “Bill White is an employee of Cash America and holds the title of vice president of Government Affairs. He came back to work for the company after retiring in 2004. Prior to retirement, Bill lobbied the Texas Legislature for many years, during which time he built a solid reputation in Austin and developed strong relationships with government officials…The Governor’s office recognized him as a good fit for one of the executive seats with the Texas Finance Commission. One of the requirements for that seat states that Bill must be affiliated with a consumer credit organization, which he is through Cash America. Bill does not work with specific lobby teams, but members of the Finance Commission are regularly contacted by bankers, mortgage bankers, savings and loan representatives and consumer credit organizations…Cash America does not see his appointment to the Commission as a conflict of interest.”

    A video recapping the scrutiny Cash America faced in November:

    Image via Facebook Fan Page

  • Black Friday 2013: The Shopping Frenzy Continues After Thanksgiving Day

    The spending spree continues after some of the top retailers opened their doors on Thanksgiving Day to pre-Black Friday shoppers.

    Over a dozen major retailers opened their doors on Thursday to kick off some of the Black Friday deals crazed by customers across the country.

    While over half a million of shoppers resorted to online shopping, some of the stores consumers took advantage of yesterday were: Kmart (the first one to open its doors), Target, Sears, BestBuy, Macy’s, Kohl’s, Toys R Us, and of course Wal-Mart.

    Within the past few years, retailers have “…pushed opening times into Thanksgiving night… and discounting in early November, instead of waiting until Black Friday.”

    The idea of Thanksgiving Day shopping received criticism from workers and consumers. Opponents have viewed it as an inconsiderate workday, especially on a holiday meant for spending quality time with family.

    Thus, the trend has now become an official start to Christmas shopping. However, Black Friday shopping still holds its title as the biggest shopping day of the year, turning many American consumers into shopping maniacs.

    The Consumer Electronics Association (CEA) prediction for this year’s Black Friday was that there would be an 18% increase in spending compared to 2012, in which deals on technology would be the reason.

    For instance, some of the big electronic savings that early shoppers can look forward to include: Staple’s new Kindle Fire 7 inch tablet for $79, BestBuy’s 55-inch LG flat screen television is marked as $499 and Wal-Mart is spoiling iPad mini purchasers with $100 gift cards.

    Most of the retailers already listed will keep their doors open until 11 p.m. tonight, so you may just be able to catch a deal OR you could just wait until Cyber Monday if you rather not deal with today’s shopping frenzy.

    Here is a humorous video about Black Friday.

     Image Credit: Youtube, BLaZeD8DBO2GAMEPLAY

  • Apps Can Help You Positively Connect With Customers

    People love their apps. Studies show that 70% of mobile users have over ten apps. Some peole have over 50.

    How can this benefit you as a business person? If you represent a company, over half of your customers are likely to have an app to do business with you. And if you don’t have an app for them, you’re going to be in the dark on this growing market segment.

    App service impacts your brand. 72% of customers have a more positive view of a company if they have an app. 45% have an app because it’s more convenient. And people won’t forget how your app helped them. 81% of people use social media and word of mouth to spread their positive app experience.

    And don’t think you can rest once you get your app out there. It can always be improved. Connectivity to a live agent is the number one way to get people to use your app more often.

  • Windows 8 Preview Released, Twitter Reacts

    Today Microsoft released a Consumer Preview of its new Windows 8 operating system at the Mobile World Congress in Barcelona, to much interest – the preview has already been downloaded over 3 million times, according to USA Today.

    Steven Sinofsky, president of the Windows and Windows Live Division at Microsoft states, “with Windows 8, we reimagined the different ways people interact with their PC and how to make everything feel like a natural extension of the device, whether using a Windows 8 tablet, laptop or all-in-one,” adding that Windows 8 is “a generational change for Windows.” The new tile-based user interface of the operating system is based on Microsoft’s Metro design language, and is thoroughly different in form, as compared to Windows version of the past – there’s no start button.

    Here are some Twitter posts regarding the preview:

    Okay, Windows 8 freaking rocks. I approve 110% 1 hour ago via web ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

    Installing windows 8. It better be good. 1 minute ago via Twitter for Android ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

    Danke Windows 8, dass du in meiner VB nicht funktionierst. 3 minutes ago via web ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

    Really not keen on @Windows 8 so far Metro and standard desktop clash to much, Just not right in desktop env. Mouse support is just rubbish. 1 minute ago via Twitterrific for Mac ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

    FREAKING OUT over how good this windows 8 is. I WANT TO LIVE IN MY COMPUTER #WaitIAlreadyDo 1 minute ago via web ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

    Windows 8 failt hard!!! 3 minutes ago via Twitter for Android ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

    I gotta say, Windows 8 looks pretty sweet. 5 hours ago via Twitterrific for Mac ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

  • Mobile Devices Influencing Consumer Purchases

    According to the Google Mobile Ads Blog, in a 2011 study conducted in tandem with Ipsos, consumers are using mobile devices more and more, to help command the points of purchase while shopping online or in-store.

    During the holiday shopping season, 41% of consumers made purchases directly on their smartphones, 46% noted that they picked out their item on their smartphone, and completed the purchase in-store, and 37% said they researched their item on their phone, and bought it online. Of the three modes of purchase, it was also noted that consumers with tablet devices were more prone to read product reviews and look up more product information, likely due to their larger screens and portability, according to Dai Pham, of Google Mobile Ads Marketing. It’s now easier to get detailed information about a product from the couch, kitchen or bed, with a tablet device.

    Naturally, most consumers are using their smartphones to contact the retailers directly, with click-to-call phone numbers on company websites making this convenient. With 80% of consumers saying that they’d used their smartphones while shopping this year, along with 70% of tablet users, it is essentially that retailers optimize their websites to engage customers on all three devices.

    For more information on consumer trends in regards to desktop, mobile and tablet devices, check out a report on Post Holiday Learnings for 2012.

  • Top Public Figures That Influence Purchases

    Top 10 People Who Influence What Americans Buy

    As the effects of the global recession linger, consumers are changing the way they shop, becoming more budget-conscious, eco-aware and cause-oriented, while paying greater attention to what, why and from who they are buying. Arnold Worldwide has named the top ten public figures, across entertainment, business and politics, who are helping to promote the era of “mindful spending.”

    Andrew Benett, Global CEO of Arnold Worldwide and Global Chief Strategy Officer of Havas Worldwide, describes the downfall of hyperconsumption and the rise of “the new consumer” in his forthcoming book, Consumed: Rethinking Business in an Era of Mindful Spending (Palgrave Macmillan, July 2010), co-authored by Ann O’Reilly, Content Director of the Euro RSCG Worldwide Knowledge Exchange.

    Despite the fact that glitz and abundance are alive and well in mainstream media (think: Bravo’s The Real Housewives and E!’s Keeping Up with the Kardashians), there is a fast-growing set of Americans who reject excess and artificiality in favor of authenticity, substance and interconnectedness. In fact, according to a groundbreaking survey of 5,700 adults in seven countries conducted for Consumed, nearly 80 percent of Americans feel society is becoming too shallow and believe most of us would be better off if we lived more simply.

    “For the last two decades, Americans believed bigger was better—from the size of our houses to our cars to the amount of food on our dinner plates. But the economic recession, coupled with other factors like the green movement, is fundamentally changing American attitudes,” said Benett. “Instead of super-sizing, we’re ‘right-sizing’ and re-evaluating what’s important in life. We’re saving more, wasting less, and giving back.”

    Benett further states: “Mindful consumers are taking a closer look at what we truly need and adjusting our shopping behaviors accordingly. As part of that, we are embracing brands that uphold these new ideals, brands that provide quality and value in their services and products, but are also environmentally friendly and socially responsible.”

    In recognition of the new book Consumed, here is a list of ten public figures who embrace qualities of the mindful consumer, such as a commitment to sustainability efforts, a focus on giving, and a more thoughtful approach to consumption:


    Ludacris
    Rappers are not always known for their humility, generosity and environmentally conscious attitudes; Ludacris isn’t your average rapper. Through The Ludacris Foundation, he has donated $1.5 million to support youth-oriented, grassroots organizations and devoted more than 5,000 hours of service, all while paying special attention to his hometown of Atlanta. Did we mention that Ludacris owns a hybrid and is installing solar panels on his home?


    Suze Orman
    While the financial market collapsed, Orman’s stock rose as she convinced people what NOT to buy during the economic recession. She is viewed as a trusted financial expert, helping Americans become fiscally responsible through her television show, eight consecutive New York Times bestsellers, and frequent guest spots on a range of programs from Oprah to The Biggest Loser.


    Indra K. Nooyi
    As the CEO of PepsiCo, Nooyi wants those of us who indulge in sugary beverages to feel a little better about it. She’s championing “performance with a purpose” within the organization, which is focused on creating more wholesome products and increasing sustainability practices. As part of this effort, the company has launched The Pepsi Refresh Project. The socially driven campaign allows individuals and organizations to post their philanthropic ideas on refresheverything.com, where the general public votes for their favorite initiatives to be funded. To help support the project, which will give away more than $20 million this year, the company passed on airing a Super Bowl ad.


    Ellen DeGeneres
    Comedienne, actress, author, CoverGirl spokesmodel, American Idol judge, talk-show host, and wife. . . Ellen DeGeneres does it all. Using her large media presence, she exposes audience members to different charities including Feeding America and the American Red Cross. DeGeneres conceals her wealth with ordinary clothes and a gracious attitude, influencing a legion of supporters through her television shows and brand sponsorships.


    Taylor Swift
    Unlike her flashy counterparts, such as Miley Cyrus and Lady Gaga, there’s something genuine and down-to-earth about Swift that makes her stand out among the tween, teenage and young adult set. With her poised demeanor, saccharine pop-country crossover songs, humanitarian efforts for numerous charities, and penchant for affordable clothing—including her line of Walmart-sold sundresses that start at $14—this young superstar personifies the mindset of a new generation who want to feel good, look good and do good with (age-appropriate) style.


    Warren Buffett
    The world’s third-wealthiest person, Buffet is famously known for both his mindful spending and philanthropy. America’s foremost investor still owns the modest home bought in 1958, receives a salary of approximately $100,000 and rarely makes extravagant purchases. Most recently, Buffet auctioned off a lunch with himself that sold for $2.63 million, which will support Glide Foundation, a homeless organization based in San Francisco.


    Oprah Winfrey
    As proven time and again, the mere mention of a product by Oprah will make it a bestseller. Her personal integrity, philanthropic efforts and ability to connect with the masses will help her stay one of America’s favorite trendsetters long after her talk show ends in 2011. Up next: Oprah will start the Oprah Winfrey Network (OWN), further exploring issues surrounding empowerment, spirit, human relationships and giving back.


    Stephen F. Quinn
    More than three-quarters of Americans shop at Walmart every year, so whether you’re a fan or not, the retailer has influence. As Walmart’s CMO, Quinn’s leadership on sustainability efforts has a huge impact. He helped initiate strict environmental standards including high efficiency store designs, reusable bags, recycling programs and the installation of solar panels. In addition, Walmart is helping shoppers go green by introducing more energy-efficient products; locally grown produce; and the Sustainability Index, an initiative that, in the company’s own words, is “helping to create a more transparent supply chain, driving product innovation and ultimately providing our customers with information they need to assess products’ sustainability.”


    Mark Zuckerberg
    Zuckerberg makes the list not because he is particularly mindful, but because the platform he created is making savvier shoppers out of all of us. With more than 400 million active users worldwide, Facebook has become an interactive consumer haven. With the simple update of a status feed, users can get product recommendations from the most trusted source: friends and family. Plus, the platform provides a voice to grassroots organizations that want to galvanize people around the world quickly and efficiently. Brands like Coca-Cola, Starbucks and Disney are realizing the platform’s potential by generating huge fan followings, making it a marketer’s paradise. And with Zuckerberg’s influence over Internet privacy policies, he is literally changing the way we shop.


    Michelle Obama
    With the grace of Jackie and the aspirations of Eleanor, Michelle has captivated Americans. When the First Lady donned J.Crew fashions at public appearances such as The Jay Leno Show, it spiked the retailer’s clothing sales, website traffic and brand awareness. However, it is Obama’s efforts to end childhood obesity with initiatives like “Let’s Move” and the White House vegetable garden that are inspiring a nation. She is influencing (and, in some cases, incentivizing) politicians, business leaders, nonprofits, parents and the rest of us to think about what we consume.

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  • Fifty Percent Of The US Population Have A Social Media Profile(s)

    A new study released today shows that consumer use of social networking web sites is not a youth phenomenon. Apparently now at least half of those living in the United States have social media profiles. While nearly eight in ten teens (78 percent) and 18 to 24s (77 percent) have personal profile pages, almost two-thirds of 25 to 34s (65 percent) and half of 35 to 44s (51 percent) also now have personal profile pages. This new national survey from Arbitron Inc. (NYSE:ARB) and Edison Research is called “The Infinite Dial 2010: Digital Platforms and the Future of Radio“.

    The Infinite Dial 2010: Digital Platforms and the Future of Radio from Tom Webster on Vimeo.

    The percentage of Americans age 12 and older who have a profile on one or more social networking Web sites has reached almost half (48 percent) of the population in 2010 – double the level from two years ago (24 percent in 2008).

    Nearly one in four Americans has listened to audio from an iPod or other MP3 player connected to a car stereo: Although consumers often have to deal with myriad adapters and other barriers to in-car listening, 54 percent of iPod/MP3 player owners have listened to their device in their car; this equates to 24 percent of all persons age 12 and older having listened to an iPod(TM), iPhone(TM) or other MP3 player while connected to a car stereo.

    Three in ten 12 to 24s are “very interested” in online radio in the car and on mobile devices: Among those age 12 to 24, 30 percent are “very interested” in listening to online radio in-car, while 28 percent are “very interested” in listening to online radio on mobile devices.

    Consumers say radio station Web sites are improved but TV and print sites are leading the local battle: Nearly half of people age 12 and older give credit to radio for improvements in their Web sites.

    Forty-eight percent say that radio station Web sites have gotten more interesting compared to 17 percent believing them to be worse or less interesting. However, monthly visitation to radio station Web sites (16 percent) among persons 12+ lags visitation to local TV and local newspaper Web sites.

    A total of 1,753 persons were interviewed to investigate Americans’ use of digital platforms and new media. From January 25 to February 22, 2010, telephone interviews were conducted with respondents age 12 and older chosen at random from a national sample of Arbitron’s Fall 2009 survey diarykeepers and through random digit dialing (RDD) sampling in certain geographic areas where Arbitron diarykeepers were not available for the survey. Diarykeepers represent 51% of the completed interviews and RDD sampled respondents represent 49% of the completed interviews. The study includes a total of 371 cell phone interviews.

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