The purpose of the 5 Killer Stats Assignment is to have you get into the rhythm of assessing “data” on a continuous basis as it comes into your inbox. Of course, you need a “unit of analysis” in which to assess this incoming data.
Therefore, please review the most recent 5 Killer Stats (according to Marketing Week; note: you can go back 2 weeks if you like, to open up the number of Killer Stats you review, but this will only work for this week; I’ll explain in class) and assess which of these stats in your view has the most relevance and could potentially impact (either positively or negatively):
- Your Industry Project; and/or (Our Industry Project is High Tech)
- Your career interests and your industry of career choice. (My career interests is I want to open a restaurant and convert it into a chain of restaurants. Basically in Food industry)
Of course in your written short and sweet write-up (1 page is fine and not to exceed 2 pages) be sure to identify your “units of analysis” (Your industry focus and your career interests) so the reader understands where you are coming from as you write out your ideas.
This is always a “thought assignment” for which there are no right or wrong answers. Your own assessment and opinion here is what matters given your “units of analysis” (again, be sure to identify these units of analysis in each 5 Killer Stats Assignment).
Remember, the goal here is to get you into the mindset and rhythm of always using the D.I.D. Framework as data flows into your inbox. And as a manager in today’s world, it will be an avalanche in your inbox and workflow.
Newest 5 Killer Stats:
ANSWER
Newest Killer Stats
Student’s Name
Institution Affiliation
Date
5 killer Stats:
This week’s killer stat that is most likely to have an effect on the fast food industry is stat number 4, “Footfall stumbles into late summer.”
This stat talks about the change in foot traffic in various retail areas compared to the previous month, quarter and year.
The article overview:
- Retail footfall fell in august
- Retail footfall is down 1.3% over the last year
- Retail footfall in august is down 1.6% from last august
- Retail footfall is down 2.1% over the last quarter
- High street footfall is down by 1.9%
- Shopping center footfall is down by 2.2%
- Retail park footfall increased by 1%
How it effects fast food:
- Fast food locations are typically in conjunction with shopping areas and retail stores being in the same parking lots
- Lower footfall in retail areas means lower footfall for fast food in those areas
- There are a lot of fast food locations inside retail stores
- Declining footfall from over a year ago means that more people are shopping online meaning less spurious consumption
- Lower retail foot traffic means fast food needs to bring in more organic foot traffic and not rely on spillover from retail shoppers
- If retail footfall is dropping, malls and other shopping centers are more likely to shut down causing the fast food inside those locations to close
- If retail footfall is dropping, individual retail stores are more likely to shut down causing the fast food inside those locations to close
This week’s killer stat that is most likely to have an effect on the luxury retail industry is stat number 4, “Footfall stumbles into late summer.”
This stat talks about the change in foot traffic in various retail areas compared to the previous month, quarter and year.
The article overview:
- Retail footfall fell in august
- Retail footfall is down 1.3% over the last year
- Retail footfall in august is down 1.6% from last august
- Retail footfall is down 2.1% over the last quarter
- High street footfall is down by 1.9%
- Shopping center footfall is down by 2.2%
- Retail park footfall increased by 1%
How it effects luxury retail:
- Declining footfall compared to the previous year implies that more people are shopping online
- More online shopping means that luxury retail needs to provide better product and pricing information
- Luxury pop up shops are becoming increasingly popular to increase brand awareness, lower footfall would mean these are harder to make successful
- Physical retail locations are important for maintaining brand image for luxury retail companies
- Physical retail locations are important for reaching new customers and creating brand image
- Lower footfall means that maintaining retail locations are more expensive than they were previously
- Luxury retail brands are going to have to invest more in marketing to make up for the loss in brand awareness gained through footfall in shopping centers
Reference
Kroenke, D., & Boyle, R. Experiencing MIS (7th ed.). Upper Saddle River: Pearson Education,
Inc.
