Job Safe is a guarantee which ensures that a consumer who buys a particular product and subsequently loses his or her job is reimbursed with the full cost of the purchase. This applies regardless of whether the bill was settled immediately or a finance agreement was taken out with the retailer. Furthermore, the consumer is able to keep the item and will not be liable for any costs.

The basis for the launch of Job Safe is that there is widespread evidence that British workers lack confidence in their job security. Over four million working Britons are living in fear of being made redundant, according to a recent personal debt tracker survey by R3, the trade body for insolvency and turnaround professionals.

The figure has risen 50% over the last three months, with those aged between 25 and 34 the most worried about their employment prospects. A new You Gov survey reports backs this up saying that, when asking people about the extent to which they feel likely to be made redundant in the next 6 months, it is the younger age group of 18-34s who feel that they are most likely to be made redundant, with 19% saying that they are ‘very likely’ or ‘likely’ as do 8% of 35-54s.

As a consequence, many potential customers are deferring large purchases or viewing them with extreme caution. In response to this, Job Safe provides reassurance to consumers who wish to purchase a high priced product but are living in fear of the financial implications they would encounter through possible job loss.

The guarantee is designed to be offered by a retailer or brand as a value-added promotional extra within the existing retail price, not as an optional additional purchase in the way Payment Protection or Extended Warranties are offered. The Fotorama guarantee is underwritten by an FSA compliant organisation.

Philip Penlington, director of Fotorama, says: “There is so much research to explain why there may be a reluctance to make large financial commitments for goods such as home entertainment packages, white goods and other high end products. Even if their current appliances need replacing, many UK households are restraining from purchasing high price products and this hits the economy.

“Job Safe will provide consumers with peace of mind, an opportunity to buy and be worry free. At the same time this supports retailers and brands, giving them a new way to stimulate sales and improve cash flow in this uncertain economic time.”

http://today.yougov.co.uk/commentaries/adele-gritten/financial-confidence

Attr: YouGov.co.uk

The figure has risen 50% over the last three months, with those aged between 25 and 34 the most worried about their employment prospects.

R3 president, Steven Law, says the findings suggest that many people believe that the worst is yet to come in terms of UK job losses, with the 25 to 34-year-olds possibly believing that they are more dispensable, being less experienced than their older colleagues.

In addition, the number of people experiencing “signs of financial distress” increased dramatically in the three months to the end of October, with a 60% rise in those who admitted to falling behind with some of their bills and payments.

Mr Law comments: “These figures make grim reading. The number of people who have admitted to struggling has rocketed over the last three months, but this is just the tip of the iceberg.”

He adds: “There will be many more ‘below the waterline’ who are struggling and have not yet admitted it.”

At the same time, one in four respondents were saving less than usual (a 3% rise on the previous quarter) and the research suggests that around three million Britons have taken on more debt recently.

The study was undertaken by ComRes on behalf of R3 and surveyed 2,035 adults online between 29th and 31st October 2010.

Attr: financemarkets.co.uk

http://www.financemarkets.co.uk/2010/12/10/four-million-britons-living-in-fear-of-redundancy/

ASDA has warned of a “perfect storm” hitting the UK economy as consumers worry about losing their jobs at a time when petrol and food prices are rocketing and mortgage and utility bills are also on the increase.

The Leeds-based grocer warned of tougher times ahead, but said it is well placed to cope with the challenging market conditions.

“People are clearly worried about unemployment,” said Asda’s chief executive Andy Clarke.

“We will see a change in the public sector. Job security is right up there in customers’ minds. Confidence will change this year, it’s going to be even more challenging.”

He was speaking yesterday after Asda, which is owned by US retail giant Wal-Mart, reported a pick-up in sales growth in the final quarter of 2010.

Mr Clarke described 2010 as a year of two halves, negative in the first and positive in the second.

The pick-up is partly due to the £100m relaunch of the mid-tier Asda range as ‘Chosen By You’.

Some 2,000 products were introduced at the relaunch last September and this has been extended to 3,000 products.

A further 2,000 items will be launched this year in addition to some non-food lines.

“The ‘Chosen By You’ range has undoubtedly changed people’s perceptions,” said Mr Clarke. “Bakery sales are up six per cent, cakes are up 20 per cent and ready meals have risen 11 per cent.”

The upmarket Extra Special range was the fastest growing premium brand over Christmas, according to research by Kantar.

Asda reported a 1.6 per cent increase in like-for-like sales (excluding VAT) in the last quarter of 2010 and a 2.6 per cent increase if VAT is included.

This follows a 1.3 per cent increase in the third quarter (excluding VAT).

Asda said the performance had helped it outpace the wider British grocery market in the second half of the year.

It also grew its profits at a faster rate than its sales in 2010, enabling it to pay out a £2.9bn bonus to staff.

The company had lagged behind rivals for most of 2010, hit by a step up in promotions which it said clouded its low-price message.

It responded in April with a ‘price guarantee’ to be cheaper than rivals, which it extended last month into a pledge to be at least 10 per cent cheaper.

Mr Clarke said Asda’s price guarantee initiative had “ruffled” the feathers of rivals.

Since the switch last month to promise to sell groceries at least 10 per cent cheaper than its major rivals, the scheme has been used by 800,000 customers. “The renewed focus on everyday low pricing underpinned by the Asda Price Guarantee has got our rivals a little ruffled,” said Mr Clarke.

“We have enhanced the quality of our products at no extra cost to our customers.”

Asda was reprimanded for its original price guarantee adverts by the Advertising Standards Authority following complaints from rivals Bradford-based Morrisons and Tesco.

Morrisons and Tesco complained that the ads were misleading for suggesting that Asda was generally cheaper than themselves and Sainsbury’s argued that there were significant exclusions from the price comparison.

Mr Clarke said Asda should regain its position as the UK’s second biggest grocer behind Tesco, dismissing industry figures that showed its share of the grocery market was overtaken by Sainsbury’s in December as “a blip”.

“We are certainly back to being number two,” he said. “One challenge is we own less space than our rivals. We’ve outperformed the market and returned to growth.”

Asda said it will extend its drive into upmarket products with the launch of a premium homeware brand Elegant Living, which will be sourced with American parent company Wal-Mart and will be 30 per cent cheaper than its rivals.

Asda’s performance compares well with its ‘big four’ competitors over the Christmas season, with bigger rival Tesco reporting a sales rise of 0.6 per cent including VAT in its six-week festive period.

Sainsbury’s has been the fastest growing of the country’s top grocers in recent months.

It reported a 2.8 per cent rise in like-for-like sales, excluding fuel and adjusted for changes in VAT sales tax, in the 14 weeks to January 8.

British number four Morrisons delivered a one per cent rise in the six weeks to January 2.

Wal-Mart, the world’s biggest retailer, posted its seventh consecutive quarterly drop in sales at existing US stores.

Attrib: Yorkshire Post

http://www.yorkshirepost.co.uk/business/business-news/a_perfect_storm_to_hit_uk_forecasts_asda_1_3105272

In the public sector, that figure rises to nearly one in three workers, the Chartered Institute of Personnel and Development (CIPD) said. The organisation is calling on managers to demonstrate high-quality leadership in order to raise morale and engagement in the workplace.

More than half of the 2,000 workers surveyed also claimed that their employer had either frozen or cut pay.

Falling living standards

The CIPD said the quarterly survey illustrated the extent to which employees are concerned about their standard of living “as inflation continues to erode the real value of wages”.

Almost a third of those surveyed said their standard of living had got worse over the last six months. This compared with just 10% who said it had improved.

“If organisations don’t invest in developing high-performing managers, they may find better managed competitors racing past on the road to recovery,” said the CIPD’s Ben Willmott.

“Employers need to find cost-effective ways of equipping their line managers with the people management skills to support employee engagement and wellbeing.”

Attrib: bbc.co.uk

http://www.bbc.co.uk/news/business-12362171

Claim 2 FREE flights to New York with every contracted Fixed Fee!

Fotorama are giving away up to 2 FREE return flights to New York with every qualifying fixed fee contract awarded.

Why not give us the opportunity to match or better your current quote and you could potentially claim 2 FREE return flights to New York. If you haven’t worked with us before why not add us to your list of suppliers and if you place a promotion with us, you could claim 2 FREE flights to New York!

Click here for more information…

In the true spirit of sales promotion, Fotorama and the authors are offering purchasers a money back guarantee, entitling them to claim back the cost (RRP £15) if they don’t like the book and return it (subject to terms and conditions).

Colin Lloyd, co-author of Beyond Redemption, commented, “It is most apt that a book that highlights many of the industry’s triumphs and disasters, including examples of over redemption, should offer a money-back guarantee.”

Posted in Company News on Wed 08 September 2010

Forty per cent of the tenders received by Fotorama 2009 were for coupon promotions in contrast to 35% in 2008. Cash backs were even more popular in 2009 with 22% of brands opting for this promotional choice compared to 17% in 2008.

Brands and agencies also opted for other promotional mechanics such as Collector Packs, Free Mail Ins and Self- Liquidating Promotions, which amounted to 14%, compared to 9% in 2008.