ICFE eNEWS #11-24 - June 3, 2011
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Take the ICFE's Interactive Spending and Over-spender's Quizzes
Advisory: Six retailer trends changing the way consumers spend in 2011.

"Are you a good spender? Or perhaps you may think you might be an over-spender. Spending is one key to a successful savings strategy and a sound financial future. Why? Because everyday spending decisions, especially credit based ones, will do far more harm to your financial future than any investment decision you are likely to ever make," says ICFE president, Paul S. Richard.

To find out your spending acumen, visit the ICFE's web site and take the two interactive spending quizzes.

Advisory: Six retailer trends changing the way consumers spend in 2011.

1. Daily Deals
With the explosion of limited-time daily deals via group-buying (more than 23 million in the last year) and flash-sale sites like Gilt Group & Jetsetter.com, it's no surprise other retailers have adopted this successful sales strategy. In fact, online retailers like Target & Overstock now offer Deal-of-the-Day sales that bode well for sales. Even Facebook and Amazon have added daily deal services.

2. Name Your Own Price
Gap has recently taken the daily deal concept a step further with the launch of its new Gap My Price program, which allows customers to bid for clothing and accessories. The process is the same as with Priceline, which targets cost-conscious travelers: You extend a sales offer for a particular item; Gap then makes a final offer you can either accept or reject.

3. Free Shipping
Originating in Australia, retailers are talking about charging shoppers for use of their changing rooms. The move is designed to prevent consumers from trying items in-store, then buying them online at a discount price. Fortunately, retailers have shifted marketing efforts to target online shoppers by creating a more accessible e-shopping experience and offering free shipping both ways as well as site to store free shipping. Online stores like Zappos & Piperlime now offer free shipping both ways and merchants like Walmart and REI offer site to store free shipping. Discover more merchants that offer free shipping both ways from this article on LearnVest
.

4. Body Scanners In Malls
We're not talking about security scanners here, but rather a system that helps you deal with manufacturer's increasingly different sizing charts. MyBestFit addresses this problem with mall kiosks offering free 20-second, full-body scans.
Here's how it works: You step fully dressed into a 380-degree booth and a wand rotates around you, emitting low-power radio waves that record roughly 200,000 body measurements to assess areas like bicep circumference. The system then matches these measurements to sizes in its database for roughly 50 stores, including Talbots, Old Navy and Eddie Bauer. It sure beats trying on five different sizes of jeans and (shudder) bathing suits.

5. Mobile Sales, Coupons and Instant Deals
The busier we become, the more we rely on our smartphones to shop, compare prices and look for deals while on-the-go. Retailers have cottoned onto this need as a new opportunity for capturing and engaging customers. For example, the CouponSherpa
iPhone app allows shoppers to research mobile coupons for specific items, then use those same coupons at checkout.
Foursquare has become increasingly popular as a way for retailers and restaurants to provide special offers when you "check in." For example, Ann Taylor in NYC may provide a 15-percent off deal on full-priced merchandise for a shopper who has used Foursquare to check in.
Amazon's iPhone App allows you to scan a bar code or take a photo of a product seen while window shopping and, at the your later convenience, purchase that item with just one click.

6. Social Media Sales
As Gen Xers move into their peak spending years and become entranced by social-media shopping, more retailers are jumping on the bandwagon to engage their customers via Twitter and Facebook. In fact, the Facebook store, referred to as "F-Commerce," is an increasingly popular outlet for retailers to target such social-media shoppers.
Also known as social shopping, the process allows consumers and retailers to aggregate and share information in real time about special offers, products, prices and purchases. The big advantage to consumers is they needn't leave a social-media site to shop and can immediately share their purchase with friends and other fans. This helps reduce the solitary feeling of online shopping. Via social media, merchants also provide information about special offers and, increasingly, coupon codes and downloadable coupons.

Are you a good spender or perhaps you may think you might be an over-spender. To find out which visit the ICFE's web site and take the two interactive spending quizzes. For more information on personal finance classes in your local area or to contact an ICFE Money Instruction Book Certified Instructor visit ICFE.info and click on Directories to find one nearby.


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Sent by:

Paul S. Richard
President - Executive Director
Institute of Consumer Financial Education (ICFE)

About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation).  The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. 
The ICFE is an award winning, nonprofit, consumer education organization that has helped millions of people through its education programs and Resources. It publishes the Do-It-Yourself Credit File correction Guide, which is updated annually. The ICFE has distributed over one million Credit/Debit Card Warning Labels and Credit/Debit Card Sleeves world wide.

The ICFE became an official partner with the Department of Defense/Financial Readiness Campaign in June of 2004.The ICFE was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org).  CASDRAP disbanded in 2010, shortly after the web site project was completed.  In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.

The ICFE is also an on-line help for consumers who spend too much.  ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org.  Both sites helps consumers and students with mending spending, learning about the proper use of credit, budget and expense guidelines, how to set up and implement a spending-plan and also how to access financial education courses and how to teach children about money. Other ICFE services include: Ask Mr. G,  a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.

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and the Institute of Consumer Financial Education, All Rights Reserved.
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PO Box 34070
San Diego, Ca 92163
Paul S. Richard, Executive Director
Phone 619-239-1401

FAX 619-923-3284

Questions for www.financial-education-icfe.org Click to go to Website Contact Us or 
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Home ] ICFE News Releases ] ICFE in the News ] Children and Money ] Financial Education ] Resource Center ] Credit Card Tips ][ Credit File Correction ] Mending Spending ] Links and Resources ]  [ Online Store ]

 

Copyright ©  1997 - by Paul S. Richard
and the Institute of Consumer Financial Education, All Rights Reserved.
View our
Privacy Policy Our Terms and Conditions

Institute of Consumer Financial Education
PO Box 34070
San Diego, Ca 92163
Paul S. Richard, Executive Director
Phone 619-239-1401

FAX 619-923-3284

Questions for www.financial-education-icfe.org Click to go to Website Contact Us or 
Website Design Donated by Desgn School Programs