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The Protestant Work Ethic Effect on Consumer Choice

[Sponsored Article] Do Costly Options Lead to Better Outcomes: How the Protestant Work Ethic Influences the Cost-Benefit Heuristic in Goal Pursuit CHENG, Yimin | MUKHOPADHYAY, Anirban | SCHRIFT, Rom Y.  Journal of Marketing Research, 2016    The Protestant Work Ethic (PWE) is a belief system which includes the idea that hard work will breed success. According to the sociologist Max Weber, who introduced the idea, this belief system explains the development of Europe during the Industrial… Source link

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Alibaba, Tencent earnings to be watched for clues on consumer sentiment in China as trade war swirls

Alibaba Group Holding and Tencent Holdings will both report quarterly earnings on May 15, followed by Baidu on May 16, which will be closely scrutinised for any indication that growing trade tensions between the world’s two-biggest economies are impacting consumer sentiment in China. Alibaba China’s largest e-commerce operator blew past profit estimates in the previous quarter on growth in gross merchandise volume (GMV) and its cloud services business despite a slowing domestic economy. … Source link

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China 

China’s consumer spending surges over extended Labour Day holiday

Beijing’s decision to extend this year’s Labour Day holiday from 24 hours to 96 achieved the desired effect of increasing consumer spending, according to official figures.Between Wednesday and Saturday, revenue from tourism rose 16.1 per cent year on year to 117.7 billion yuan (US$17.5 billion), while the number of “tourists” rose 13.7 per cent to 195 million, the Ministry of Culture and Tourism said on its website.Also, cinema box office revenue over the period soared to more than 1.5 billion… Source link

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China 

China consumer spending ‘not fully recovered’ from US-China trade war despite improving sentiment

Chinese consumer spending “stabilised but has not fully recovered” in the first quarter of the year even though overall economic growth was stronger than expected due to Beijing’s stimulus measures, according to a China investment strategist and former US diplomat.The nominal growth rate of household consumption actually slowed further to 7.3 per cent, down from 8.0 per cent in the fourth quarter and 7.6 per cent in the first quarter a year ago.But gross domestic product, fixed asset investment… Source link

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Vietnam 

Moody’s backs Việt Nam’s strict proposal on unsecured consumer lending – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  VPBank Finance Co., Ltd (FE Credit) has the highest proportion of personal loans in its loan portfolio among the three largest finance companies in Vietnam by total loans. — Photo zing.vn HÀ NỘI  —  Việt Nam’s stricter regulations on unsecured consumer lending are credit positive for finance companies, according to a recent credit outlook report released by the credit ratings agency Moody’s Investors Service. The State Bank of Việt Nam has proposed changes to regulations on personal unsecured lending by consumer finance companies. The proposed changes include limiting unsecured personal…

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Vietnam 

Central bank sets to tighten unsecured consumer finance – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Regulations on personal unsecured lending by consumer finance companies will be tightened. — Photo VietTimes.vn HÀ NỘI — Regulations on personal unsecured lending by consumer finance companies will be tightened if a draft circular of the State Bank of Việt Nam (SBV) takes effect. Under the draft circular to amend the Circular No. 43/2016/TT-NHNN stipulating consumer lending by financial companies, the central bank proposes to limit unsecured personal loans – known in Vietnam as ‘cash loans’ – to existing customers with good credit history according to the internal regulations of…

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Huawei sales cross US$100 billion mark in 2018 as consumer business group becomes biggest contributor

Huawei’s consumer business group became the biggest contributor to a record revenue for the first time last year, reflecting the gains that Chinese smartphone brands have made both at home and abroad amid flat sales at its network equipment business.The world’s largest telecoms equipment supplier on Friday reported a 19.5 per cent jump in annual revenue to 721.2 billion yuan (US$107.1 billion) in 2018, capping a year in which it came under siege as the US government sought to block use of the… Source link

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China can excel in consumer robotics, says Credit Suisse Asset Management specialist

China can become a formidable player in the nascent consumer robotics market, where precision of movements is not as important as with industrial robotics.“The big opportunities are in the lower price segment, which I think is going to be a much bigger market than what we have today. And it is a good place [for Chinese manufacturers] to learn before making the move up [to the higher-end market],” Angus Muirhead, senior portfolio manager at Credit Suisse Asset Management, said in an interview on… Source link

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China’s stocks rebound as investors seek safety in consumer, drug shares

Chinese stocks rebounded after two days of losses on Wednesday, as investors took refuge in consumer and pharmaceutical companies after official data showed a slump in profits at industrial companies.The Shanghai Composite Index gained 0.9 per cent, or 25.62 points, to 3,022.71 at the close, with sub-gauges tracking consumer staples and health care stocks rising at least 2.7 per cent. Makers of lithium battery-related products for electric cars slumped after China said it will slash subsidies… Source link

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Tencent’s biggest investor Naspers to spin off 31pc stake to form Europe’s largest listed consumer internet group

Naspers, the biggest investor of Chinese technology giant Tencent Holding, is spinning off its main internet businesses in Amsterdam in a push to boost its value.The units that the South African company will list on Euronext Amsterdam include its 31 per cent stake in Hong Kong-traded Tencent, which runs the world’s biggest video games business by revenue and China’s largest social media operation, as well as holdings in Russian internet platform Mail. Ru, German food delivery business Delivery… Source link

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