It makes sense to sell financial services to people with money just as it does to sell kennel services to people with dogs. The problem is that financial institutions are chasing the affluent at the same time their numbers are in decline. A smarter approach would be to figure out how to profitably serve all
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You don’t have to answer in the form of a question. Who wrote to F.A. Hayek on the publication of The Road to Serfdom, “Morally and philosophically I find myself in agreement with virtually the whole of it: and not only in agreement with it, but in deeply moved agreement”? J.M. Keynes, of course—supposedly Professor
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David Brooks’s October 18th New York Times column (subscription may be required) underlines something Global Insights has been saying for some time now: the shift to thrift is real, quantifiable, and irrevocable. Consumer behavior evinces today stark contrasts to pre-crisis norms all over the place. At first your agent was going to go all snarky
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U.S. merchants, still reeling from domestic consumers’ shift to thrift, are finding a fallback position in the form of international tourists. By attracting global tourism, American retailers are encountering eager shoppers, pockets flush with foreign currencies. The Washington Post highlighted this trend recently by pointing out some of the overlooked opportunities for retailers that are
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This past week walking into the local supermarket in my old neighborhood I noticed the check cashing operation inside. There was a line of people, some with cash in hand others with bills to be paid. But I noticed one person walking up to the counter handing the representative some cash and walking away with
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I had the opportunity to present this week at the IAB MIXX conference and expo in Manhattan, specifically to share and get feedback on new media solutions from MasterCard Advisors, the professional services arm of MasterCard. Some of the world’s best advertising minds attended the forum, which spotlighted the latest in digital media solutions. The WSJ
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The banking business has always been competitive with one bank emulating the practices of another to “keep up with the Joneses” (think free checking and ATM fees). But banks may no longer have the luxury of simply meeting the competition. New competitors, who see the opportunity to revolutionize financial services, are encroaching on banks’ domains.
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