Economy Articles

eCommerce Sales Down From Last Year
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comScore has released its Q2 retail eComerce sales estimates, which indicate that US online retail spending totaled $30.2 billion, which is 1% less than the same period last year. This is only the 2nd time eCommerce spending has been lower for the same quarter than the previous year.

Online Back-to-School Shopping Not Too Popular
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It doesn’t look like too many people plan to do their back-to-school shopping online. eMarketer looks at a combination of studies from BIGresearch and the National Retail Federation, Deloitte, and OfficeMax. These studies paint similar pictures, and they just don’t show too many intentions from parents to turn to the web as the school year draws near.

Apple Bucking The Current Economical Trend

While it should come as no surprise, Apple is doing very well, thank you. Amidst all of the gloom and doom, the hand wringing and the concern over the future, Apple is simply rolling along as if to say “What recession?” In what will likely be a classic case study in business schools for the future, Apple has taken an approach to the market that is so revolutionary that it has to be examined. You see, they are providing high quality products that fill needs for their customers.

Google and the Economy
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Google releases their Q2 earnings today.  It will be interesting to see how their results will be received on Wall St. for a number of reasons. Google is one of those companies that people measure the economy as a whole against to some extent. As such, today has sort of a groundhog day kind of feel to me.  I don’t typically spend a lot of time watching economic news – even in good times, but i’ll be paying a little more attention to it today.

Google and Egypt Ink $10 Million Deal
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Google and the Egyptian Ministry of Communications and Information Technology have signed a $10 million contract regarding business and workforce development in Egypt. Egyptian Minister of CIT, Dr. Tarek Kamel came to Washington D.C. this week with the goal of reinforcing bilateral relations between Egypt and the US, a representative for the Information Technology Industry Development Agency (ITIDA) tells WebProNews.

Within A Year, Facebook Triples Its Advertiser Base

I know you’re tired of hearing the same old “the economy is going down the tubes” sob story, so I brought you something different today—a company that’s actually increasing its advertiser base. And not just any company—a social media company (and you know how tough it is to really make money there—you know, other thank from VCs).

IT Innovation Limited By Economy
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More than half (55%) of IT professionals say the economy has changed the role of IT and 51 percent say that budget limitations are the biggest barrier to their innovation, according to a new study released by Microsoft and conducted by Harris Interactive.

Google Shares 6 Ways to Maximize Your AdWords Investment
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Google says AdWords’ real-time targeting and reporting are ideal for finding an efficient way to reach customers in the economic downturn. The company has detailed six tactics for maximizing your AdWords investment.

1. Focus your ads on low prices and savings.

Microsoft Announces Another Round of Job Cuts
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Update: VentureBeat reports: "We’ve learned that Massive, the company’s in-game advertising business, suffered something like 75 percent layoffs."

Meaningful Marketing In A Down Economy
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The nightly news paints a dreary picture. Whether it’s due to a freeze in the credit markets, rising unemployment rates, or just plain nerves, consumers are keeping their wallets closer than ever. At the same time, marketing and advertising budgets are being slashed and executives are demanding measurable, meaningful media from their campaigns. Each marketing dollar must go further. Sales are more valuable than ever. So, what are marketing managers to do to meet such demands?

Economy Shapes Online Search Behavior

Searches for a number of terms related to the economic downturn have shown significant gains in the past year, according to comScore.

The most notable increases were searches relating to the declining job market, including searches using the term "unemployment" (up 206 percent to 8.2 million searches) and "unemployment benefits" (up 247 percent to 748,000 searches).

Revenue Decline at TheStreet.com
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Between the decline in newspaper performance and the dominance of financial reporting in the news, you would think that online financial publications would be one area that is flourishing in this economic downturn.

eBay, eTrade, Priceline Bottom Of Customer Satisfaction Heap
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For the first time in three years, overall customer satisfaction with e-commerce has fallen, ending steady growth over the same period, according ForeSee Results’ annual American Customer Satisfaction Index. At the bottom of the customer satisfaction barrel: eTrade, eBay, and Priceline.

Is Google Quietly Laying Off Engineers?
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It’s tough to keep things quiet these days, especially with all that Twittering. Unnamed engineers drowning their overhead redundancy woes over the weekend passed on the news—with documentation—to a Berkeley grad student Bay Area executive that Google was trying to keep engineer layoffs out of the press.

Microsoft Cuts Construction, Yahoo Cuts Jobs
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It looks like Microsoft will be halting construction of new buildings around its Redmond headquarters. According to SeattlePI.com, an internal powerpoint presentation outlines plans. Joseph Tartakoff reports:

When Stock Market Fails, Try The Lottery

Wealthier households are visiting lottery websites with more frequency than their lower income counterparts, Hitwise reports. Heather Hopkins’ investigation was prompted by AP report about rising sales of state scratch-off lottery tickets.

Yahoo Tracks Stimulus Searches

Yahoo has provided a look at how Americans have been searching for economic data in recent times. One query they specifically look at is "Obama stimulus package," which has quadrupled the number of searches over the last week, when compared to the week before.

As Dow Sinks, Charity Traffic Goes Up
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There’s probably more than one way to interpret Bill Tancer’s chart comparing visits to the Dow Jones Industrial Average (DJIA) website and visits to charitable sites. At first glance, if you’re an optimist, it’s a shred of evidence to support faith in our better natures.

Small Businesses Name Economy As Job No. 1 For Obama
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With the inauguration of President-Elect Obama just days away, small business owners affected by recession see restoration of the country’s economy as his top priority, but many lack faith in him to improve matters, according to a poll of 50,000 small business clients by email and direct mail marketing company VerticalResponse.

Employees Overwhelmingly Confident About Layoffs
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Employees in the U.S. seem to overwhelmingly share a "it won’t happen to me" attitude when it comes to losing jobs. Glassdoor.com has released results from a survey, which found that 4 out of 5 employees have no concerns about being laid off in the next six months.

GlassDoor breaks it down into two categories – companies that have reported upcoming layoffs, and companies that have not:

Rumors Of Microsoft’s 15,000 Person Staff Cuts

MS logoAre the rumors true? Reports have emerged that Redmond based tech giant Microsoft is set to slash its global workforce, as the pressure of the current financial crisis takes hold.

Last month, speculation started that Microsoft was looking to cut its staff early in the New Year, with unconfirmed reports suggesting several thousands of employees would start 2009 looking for new jobs.