It's not all bad news out there, particularly if you're selling something for a buck. During a month when many retailers reported dismal results, McDonald's same-store sales in November jumped 4.5% in the U.S. and nearly 8% globally.
Nielsen recently released a new report that officially documents what many of us already know, just never substantiated through data. According to a study published at the end of January 2010, Nielsen observed the online social activity of consumers around the world and discovered an 82% increase in time spent on social networking sites in December 2009. On average, users spent more than five and a half hours on popular networks such as Facebook and Twitter. In December 2008, users clocked just over three hours on social networking sites.
Kraft Foods expects to realize annual pre-tax cost savings of at least $675 million by the end of 2012, some of which will be used to further increase advertising and consumer spending as a percentage of revenue, chairman/CEO Irene Rosenfeld reported during the company's Q4/year-end fiscal 2009 earnings call on Tuesday. The global food giant increased advertising and consumer spending to 7.2% of net revenues in 2009, versus 6.7% in 2008, she pointed out. The increased advertising support for key brands, including the Philadelphia Cream Cheese "Spread a Little Love" and Miracle Whip "We Will Not Tone It Down" television campaigns, have been "extremely well received" and effective at building the brands' franchises, Rosenfeld said.
China's economy has positively purred over the past year compared to the rest of the world, with its gross domestic product growth hovering around 8%. But retail stores, airlines and hotels got an extra bump during the first week of October, when the entire country took an eight-day holiday to celebrate the 60th anniversary of the People's Republic of China.