Retail Holiday newsletter: special edition on social networking
by Darrell Rigby, Kris Miller and Josh Chernoff
The 2009 holiday season has officially begun. Early indicators are simultaneously raising hopes and anxieties. October's same-store sales grew 2.1% over 2008's soft numbers, marking the second straight month of gains and showing improvement among both lower-priced and higher-end retailers. But the unemployment rate also rose above 10% for the first time since 1983, and consumer confidence and sentiment were down. Bain believes that retailers can deliver positive growth this holiday season, but that's going to take innovation and action. One solution may well be social networking, a quick, flexible and effective way to connect to consumers.
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China private wealth study
by Bain & Company and China Merchants Bank
To better understand China's newly wealthy and their attitudes toward wealth management - as well as the needs of different customer segments - Bain & Company and China Merchants Bank (CMB) jointly conducted a research study on the emerging wealth market. The study, based on a large sample, is the first in-depth look at China's private banking sector and segmentation within the wealth market. It found that China's domestic banks must have clear strategic objectives and highly developed business and operational strategies when entering the private-banking marketplace. Foreign banks have different challenges. They must adapt their strategies to China's distinct culture, marketplace and regulatory system as well as Chinese customers' different attitudes about investments.
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