Study: Black Friday promotional spend down 15% as retailers shift to mobile, social media outlets
SOLON, Ohio — Overall, promotional trade spend for Black Friday was down 15% for 2012 compared to 2011, according to an ECRM report released last week.
Many retailers are strategically shifting their focus to social and mobile. However, the substantial growth in mobile applications from both retailers and third parties may have given way to inaccurate data and tedious functionality that has frustrated the consumer and resulted in lost opportunities. The same is true with social media, the company noted. "With social media, the conversation can easily lose focus, and the intended message becomes unclear."
And Black Friday deals might not be the bargains you thought they were, according to the study, which examined Black Friday and Cyber Monday promotions. Some products featuring blowout prices could have been bought for less money earlier in the year. For example, Kmart promoted a 32-in. LED television for $229.99 over Black Friday, but had been selling the identical product for $198.88 in October. And 87% of products advertised on both Cyber Monday and Black Friday were more expensive on Cyber Monday, ECRM reported.
For the complete report, click here.
Cerberus Capital Management in negotiations for Supervalu business
MINNEAPOLIS — Supervalu on Friday confirmed that a previously announced review of strategic alternatives is proceeding, sparking a slight run on the company’s stock. As of early Monday afternoon, Supervalu was trading at $2.53 per share, up 6.3%.
"The company continues to be in active discussion with several parties," Supervalu stated.
The Wall Street Journal on Sunday reported that Cerberus Capital Management and Supervalu had been negotiating a potential acquisition deal through the weekend.
However, Bloomberg News had reported earlier those talks may have stalled because Cerberus is having difficulty raising the capital for a leveraged buyout.
Johnson & Johnson CEO Alex Gorsky to assume chairman title
NEW BRUNSWICK, N.J. — Johnson & Johnson has announced that Alex Gorsky will assume, effective Dec. 28, the chairman title and additional leadership responsibilities for the global health care company.
Gorsky was appointed CEO of Johnson & Johnson in April 2012. Current chairman Bill Weldon will step down on Dec. 28 and plans to retire in the first quarter of 2013, after a brief transitional period.
“I am truly honored to succeed Bill Weldon as chairman of Johnson & Johnson,” stated Gorsky. “Bill’s leadership and contributions to Johnson & Johnson over a 41-year career leave us well-positioned to continue addressing the world’s most prevalent diseases and unmet needs in health care. Our financial strength, global reach, and innovations that help people live longer, healthier lives are a proud legacy for Bill and a strong foundation for the future of Johnson & Johnson.”
“Serving as chairman and CEO of Johnson & Johnson has been a privilege, and I am confident in Alex’s ability to lead the people of Johnson & Johnson to even greater achievements,” stated Weldon. “I would like to thank the people of Johnson & Johnson for all their commitment and dedication to the patients and customers they serve. They bring to life the hope and promise of better treatments, cures, health and wellbeing for those who use our products. It has been an honor to work with them.”
The company’s board also indicated that it will enhance its governance structure by expanding the duties and responsibilities of the independent presiding director to include more involvement in stakeholder communications, board and executive performance evaluations, agenda-setting and succession planning. The duties and responsibilities of this position, which will carry the title of lead director, will be discussed in detail in the company’s 2013 Proxy Statement.