General Data Protection Regulation (GDPR) will require more consumer control and creative digital marketing. To clear up some of the confusion, Venky Shankar, Professor & Coleman Chair in Marketing and Director of Research at the Center for Retailing Studies, answers some questions about it.

What is GDPR?

GDPR stands for General Data Protection Regulation and is a sweeping set of new rules developed by the EU to protect consumers in Europe.

Why is it important?

GDPR comes at the right time as we all are still recovering from the Facebook-Cambridge Analytica breach of consumer trust. The new set of rules will go into effect starting May 25. Non-compliant companies can face fines up to 4 percent of company revenues or Euro 20 million, whichever is greater. Although the jurisdiction is limited to EU, it will represent a test case for other countries to develop their own data protection regulations.

Unfortunately, only about one-third of marketers have heard about it and about one-fifth of the companies haven’t made any meaningful changes to their data collection and use to the point of non-compliance.

How will it affect consumers? …Read more

Categories: Center for Retailing Studies, Faculty, Featured Stories, Marketing, Mays Business, News, Research, Texas A&M

Lauren Osborne has been named Advisor of the Year. The university-level recognition from the Division of Student Affairs recognizes advisors who distinguish themselves by providing exemplary guidance, support, and dedication to the advisement of a recognized student organization at Texas A&M University.

Awards are presented annually to one advisor from each of the three categories: registered, affiliated, and sponsored. Osborne advises the Student Retailing Association, which is a registered organization.

Osborne is the program manager for the Center for Retailing Studies (CRS) in Mays Business School’s Department of Marketing.

Osborne encourages officers to step up as leaders, said CRS Director Kelli Hollinger. “SRA runs incredibly smoothly and provides extraordinary professional development opportunities for its 65 members.”

Hollinger said she sees Osborne’s passion for her work exhibited every day. “Students admire her so much for genuinely caring about their academic success, career ambitions, and personal stories,” she said.

Osborne graduated from Texas A&M in 2005 with a degree in Recreation, Park and Tourism Sciences with an emphasis in Tourism Marketing. She will celebrate her five-year anniversary with Mays on July 1. She started with CRS as program coordinator, and was promoted to program manager in 2016.

She previously worked as the director of development for the Children’s Museum of the Brazos Valley. Before that, she worked as an executive meeting manager in the hotel industry for 6 ½ years at properties in Texas and Mississippi.

Categories: Center for Retailing Studies, Centers, Featured Stories, Marketing, Mays Business, News, Selfless service, Spotlights, Staff, Texas A&M

Janet Parish Headshot

Janet Parish has been honored with a University Professorship for Undergraduate Teaching Excellence (UPUTE) and was recognized as part of the Transformational Teaching and Learning Conference on April 18. She is a clinical professor and associate department head in the Department of Marketing in Mays. In addition, she is the director of the department’s Professional Selling Initiative.

The award is conferred only upon the university’s most distinguished teachers of undergraduates. The faculty members selected to receive past awards have exhibited uncommon excellence and devotion to the education of undergraduate students of Texas A&M University, according to university officials.

“I am very honored by this recognition,” said Parish. “The administrative and service roles in which I serve have given me a great platform to influence undergraduate education outside of my own classrooms.” 

These professors are not only exceptional classroom teachers, but are also innovators in pedagogy, exploring new teaching methods and seeking engagement with other educators in pursuit of excellence.

“Texas A&M University strives to meet our unique mission for Texas by supporting and recognizing our faculty’s outstanding efforts in teaching, research, and service,” said Carol A. Fierke, provost and executive vice president of Texas A&M. “These University Professorships acknowledge the particular expertise these faculty hold in working with our undergraduate students, as they become the future productive citizens of Texas and beyond.”

Yadav Manjit, interim department head of the Department of Marketing, said he is pleased Parish was selected for the award. “Over the years, Dr. Parish has shown considerable leadership in developing initiatives that have significantly impacted undergraduate education in Mays Business School,” he said.

The professorships are made possible through endowments by George and Irma Eppright, and Arthur J. and Wilhelmina Doré Thaman.

About Parish:

Janet Parish is a Clinical Professor and Associate Department Head in the Department of Marketing in Mays Business School at Texas A&M University. In addition, she is the director of the department’s Professional Selling Initiative, which is aimed at creating new opportunities for students in sales-related careers. Parish is a Mays Teaching Fellow and a recipient of the Association of Former Students College-Level Distinguished Achievement Award for Teaching and the Mays Business School Faculty Service Excellence Award.

Categories: Alumni, Departments, Faculty, Featured Stories, Marketing, Mays Business, News, Staff, Texas A&M, Uncategorized

Marketing Professor Venkatesh Shankar was an invited guest of the U.S. State Department in  Cairo, Egypt last week, where he delivered multiple presentations on marketing. He said online promotion can make a quantum leap in the trade between Egypt and the United States.

At the International Conference on Business Sciences on April 15-16, Shankar delivered presentations on “Innovations in Emerging Economies” and “Digital Marketing: Trends and the Future.” He spoke at the American Chamber of Commerce, Cairo University, Nile University, Ain Shams University, American University in Cairo, and American Embassy.

During a meeting with a number of journalists at the American Embassy in Cairo, he said electronic marketing helps to provide information about the products available in Egypt, and is a competitive advantage in the U.S. market. “Electronic marketing can make a difference in the movement of trade in the sectors of cars and technology among countries in the next five years,” he said.

Shankar said the advantages of electronic marketing will not stop at exports and imports between Egypt and the U.S., but could also introduce American consumers to some Egyptian products and services, enabling Egyptian entrepreneurs to market their products electronically and exchange experiences with their counterparts in the U.S.

“The challenge here is that some communication technologies are not as powerful in rural areas,” Shankar said. “They will have to focus on covering those regions.”

Shankar called on all companies to increase their investments in the development of the technology sectors infrastructure, which helps to expand the establishment of electronic stores and facilitates the transport of electronic goods. “Large companies rely on electronic marketing because they consider it a powerful tool to promote their products,” he said.

About Shankar:

Venkatesh (Venky) Shankar is the Coleman Chair Professor of Marketing and Director of Research at the Center for Retailing Studies, Mays Business School. His areas of specialization include digital business, marketing strategy, innovation, retailing, international marketing, and pricing. He has been recognized as one among the World’s Most Influential Scientific Minds by Thomson Reuters and as a Top 10 scholar worldwide on innovation.

 

Categories: Center for Retailing Studies, Centers, Faculty, Featured Stories, Marketing, Mays Business, News, Research, Texas A&M

The Aggie Advertising Club recently received a donation of $3,200 from the Association of Former Students to help its advertising competition team attend the American Advertising Federation’s National Student Advertising Competition.

The advertising team operates each year as part of Lisa Troy’s MKTG 447 course. Functioning much like an advertising agency, students in the class spend two semesters conducting research, building a multi-million-dollar budgeted, fully integrated marketing campaign for the client brand, developing a professional 22-page campaign plan book, and presenting the campaign to industry judges.

This year’s team will present their campaign for Ocean Spray at the AAF District 10 Convention in Corpus Christi next week. Winners at the district level will advance to nationals in Chicago in June.

AFS Donation Check

Categories: Donors Corner, Featured Stories, Marketing, Mays Business, News, Students, Texas A&M

Venky Shankar at Research Camp

Mays Business School hosted the 2018 Mays Marketing Research Camp on April 6, hosted by the Center of Retailing Studies Research Director and Coleman Professor of Marketing Venkatesh “Venky” Shankar. The event presents faculty and Ph.D. students the opportunity to share, hear, and collaborate with some of the top scholars in marketing on the latest empirical, analytical, and behavioral research. …Read more

Categories: Faculty, Featured Stories, Marketing, Mays Business, News, Ph.D., Staff, Students, Texas A&M

As the highest honor a Mays Business School graduate can receive, recipients of the Mays Outstanding Alumni Award are recognized for leading lives of distinction and embodying the Aggie core values of loyalty, integrity, excellence, leadership, selfless service and respect.

Coming from different backgrounds and walks of life, these recipients are chosen for their activity in their communities and continued involvement within the Mays community. Mays recognized the three 2018 Outstanding Alumni inductees at the 26th Year Outstanding Alumni Awards Dinner on April 5.

The honorees are Mike Shaw ’68, Fred Heldenfels IV ’79, and Fred Caldwell ’82.

So far, Mays has honored 83 former students who have reached outstanding achievements and have made significant contributions within their respected fields, as well as within Mays and their surrounding communities.

2018 Honorees

Mike Shaw ’68 is chairman and CEO of Mike Shaw Automotive, a family owned and operated company with two generations working side by side. Shaw was named Time Magazine’s Dealer of the Year in 2012.

Shaw graduated with a bachelor’s degree in management.

After graduation, Shaw became an officer in the United States Army and spent one year in Vietnam. After serving his country, he returned home to refocus his career in the automotive industry.

At the dinner, Shaw said he is proud of his Aggie heritage and credits it with getting him to where he is today. He walked across the stage of G. Rollie White Coliseum as part of the first graduating class of the business school almost 50 years ago to the date. His brother also graduated at the same time.

“At times like this, we realize how important it is to have families and friends who got us where we are,” he said. “The head honcho always gets the award, but it’s the people who make things what they are.” He said he took into his business career the formal education he received from Texas A&M, as well as the core values that are instilled here. For instance, he said, excellence allows everyone to be successful, while selfless service is the term for giving back to communities.


Fred Heldenfels IV ’79 is president and CEO of Heldenfels Enterprises, which specializes in the manufacture and installation of precast/prestressed concrete structures.

Heldenfels received the Aggie 100 Award in 2005, 2006, and 2008, as well as the Association of Former Students Distinguished Alumnus Award in 2015.

He graduated with a bachelor’s degree in marketing.

He said at the Outstanding Alumni Dinner that one has to “wake up every morning and re-earn that kind of recognition.” He said the three questions that often come up in his life are “What do you work for?” “Who do you work for?” and “Why do we work?” For him, the answers are all based on stewardship and serving others. “I like the phrase ‘lead servant’ rather than ‘servant leadership,’ because every day I want to be the first one to step out and lead with conviction.”

Fred Caldwell ’82 is president and CEO of Caldwell Companies in Houston. He was the founding partner of Caldwell Nyberg Interests in 1990, later renamed Caldwell Companies. Mr. Caldwell received the Aggie 100 Award in 2005.

Caldwell serves on the board of directors of the Cy-Fair Educational Foundation; is a former member of the 12th Man Foundation Executive Board; is a member of the Dean’s Advisory Board at Mays; is a member of the Aggie Real Estate Network; and is on the board of directors and was past chairman for the Lone Star College System District Foundation. He also was a three-year letterman on the football team at Texas A&M.

Caldwell graduated with a bachelor’s degree in accounting and a master’s degree in finance.

Caldwell said at the dinner that his company’s mission statement and purpose –  “to honor God, by stewarding resources, cultivating positive, lasting relationships and building extraordinary communities that enrich lives.” – reflect his values. He said in his speech he and his wife Susan started the company with $10,000 in the bank.

Categories: Alumni, Donors Corner, Featured Stories, Management, Marketing, Mays Business, News, Selfless service, Spotlights, Texas A&M

Positive economic trends – including lower interest rates, high consumer confidence, and low unemployment at 4.1 percent – continue the encouraging pace as we enter the spring shopping season.

Chocolate bunnies and baskets are just around the corner
According to a survey by the National Retail Federation and Prosperity Insights & Analytics, Americans spent a record $18.4 billion on Easter in 2017, an average of $152 per person, with estimates expected to nearly match those numbers this year. Of all planned Easter purchases, 89 percent involve candy. Traditional treats like chocolate bunnies, cream-filled eggs, jellybeans, and marshmallow chicks will continue to top shopping lists.

Toys and crafts are still a hit
There are plenty of basket stuffers for the little ones, and you don’t have to spend much. Discount stores like Dollar General offer a wide variety of Easter gifts. In fact, consumers will look to discount stores more than online or traditional department stores this year. For special surprises, Personal Creations offers customized toys and accessories for your child’s Easter basket. For convenience, Amazon features an assortment of toy-filled plastic eggs in bulk, delivered to your doorstep in two days or less.

Dining
Easter Sunday is a time for gathering with family over a special meal. Shared experiences are highly valued. This year, 60 percent of Americans will visit family and friends, and 58 percent will cook at home. Southern Living and Tablespoon offer a wide variety of recipes, along with special treats for the kids. If you don’t feel like spending time in the kitchen, there are thousands of restaurants with special Easter brunch hours for April 1st.

Passover
The Jewish holiday of Passover will be celebrated from March 30 through April 7. Consumers seeking kosher-friendly items is a major focus this time of year. Not only are kosher foods more easily available today, but they have become increasingly popular because of the high demand for gluten-free and all-natural products. Since 2012, the number of Passover food products has more than doubled to over 53,000. Special culinary creativity is important, since the absence of leavening is a central practice of this tradition. There are numerous Passover recipes and a variety of products ranging from the primary food of matzah to special meats and kosher wines.

Time for home repairs?
Spring is the time of year for consumers to spend more on home improvements and new appliances. The Home Depot and Lowe’s recently announced they would hire around 130,000 temporary workers for the peak season of spring. In addition, Lowe’s also announced that the company will pay employees up to $1,000 in bonuses and expand benefits in 2018 as a result of the recent tax reform.

Goodbye to another historical brand
While the macro-trends for 2018 are positive, Toys “R” Us recently announced the company will close or sell all of its U.S. stores. Liquidation sales have already started. The retailing giant known for the jingle “I don’t want to grow up, I’m a Toys ‘R’ Us kid” filed for bankruptcy in late 2017. Declining sales, burdensome debt, and heavy competition from both digital players and big-box stores proved to be too much for the once iconic brand.

“Retailers are still adjusting to changed consumer habits. There will be more store closing this year from retailers who haven’t evolved their business models enough,” says Kelli Hollinger, director of the Center for Retailing Studies at Mays Business School. “But, 2017 predictions of the ‘death of retail’ or the click-bait phrase of ‘retail-apocalypse’ are wrong. Retail is very much alive.”

Categories: Center for Retailing Studies, Marketing, Mays Business, News, Texas A&M, Uncategorized

The Center for Retailing Studies (CRS) proudly announces its partnership with the (R)Tech Center for Innovation. Texas A&M becomes one of 10 inaugural affiliate universities to align with the (R)Tech Center, organized by the Retail Industry Leaders Association (RILA), and create a retail-tech talent pipeline.

RILA is the trade association for America’s largest and most respected retailers, representing more than 200 members. The partnership between Texas A&M and RILA strengthens corporate relationships with current CRS partners like H-E-B and Dollar General, while connecting CRS with other top retailers such as Best Buy, The Home Depot, and Apple.

The (R)Tech Center for Innovation, launched by RILA in 2017, focuses on helping retailers navigate the industry’s transformation through research, innovative technologies, and creating a culture of innovation – exposing retailers to the technologies and innovations driving change in retail.

“For 35 years, Texas A&M University’s Mays Business School has promoted retailing as an aspirational career choice. Our graduates possess the business acumen to drive sales at America’s largest companies. The partnership with RILA enhances our ability to train students to develop an entrepreneurial mindset and build essential technical skills so they can become transformational leaders in retailing,” said Kelli Hollinger, director of the Center for Retailing Studies at Texas A&M.

The (R)Tech Talent Pipeline will attract and expose young graduates with tech backgrounds to opportunities in the industry, helping shape a 21st-century retail workforce as retailers continue to innovate.

“We are excited to bring innovation to the forefront of retail and provide a test bed for new concepts, technologies, and user experiences. Supported by strong research in the area of design, augmented reality and consumer behavior, we expect this will lead to significant new insights into today’s consumer, and what retail of the future will hold,” said Amy Hillman, dean of the W. P. Carey School of Business at Arizona State University. Hillman was among the Outstanding Doctoral Alumni from Mays Business School in 2008.

Beginning this year, RILA and the (R)Tech Center for Innovation will address the need for recruiting employees with technical skills in three phases. Phase one will focus on four strategies that initiate the talent pipeline: hosting hackathons that expose students to retail challenges, facilitating a global case competition for creative student ideas, creating multi-use experimental stores with physical locations on select campuses, and launching an online certification specifically for mid-to-senior-level retail executives to educate them on innovative trends. Phases two and three will involve a program to recruit new talent into the industry and help retailers build tech skills in-house.

For more on this announcement, visit www.rila.org.

Categories: Center for Retailing Studies, Centers, Marketing, Mays Business, News, Texas A&M, Uncategorized

Valentine’s spending looks to enjoy a similar boost seen with the 2017 holiday season, the most since the Great Recession of 2009. Strong indicators include a roaring stock market, low unemployment, and high consumer confidence.

Kelli Hollinger, Director of the Center for Retailing Studies, says, “Shoppers opened their wallets more than analysts expected this past Christmas, with many retailers exceeding sales projections. Both retailers and consumers are beginning 2018 with more optimism. For Valentine’s Day romantics looking to spend on their sweethearts, retailers will offer promotions for top-gifting items, like candy, flowers, and jewelry that fit any budget.”

Create something memorable
Experiences remain popular, even when the sweetheart in your life is a furry friend. PetSmart is hosting pup playtime 9-5 on Valentine’s Day in select markets. Doggie desserts include a free ice cream treat, plus a free digital keepsake for pet parents.

If day trips are more appealing than diamonds, shoppers seeking experiences can book special romance packages like some of the options from Groupon, Travelzoo, or Renaissance Hotels.

Personalized gifts such as one-of-a-kind socks emblazoned with couple’s names or even faces, like sockprints.com add a little humor to gifting.

For a special night out, online sources like OpenTable are helpful for finding local restaurants with special menu items and promotions for February 14th.

Online and mobile shopping continue trending up
More consumers will shop with their thumbs, browsing, and buying more than ever from their mobile devices. Trendsetter Magnolia Market is featuring special selections for Valentine’s Day.

Online purchasing offers added convenience this season. Texas grocer H-E-B offers in-store pickup or delivery with floral orders.

Tech gifts are in
Besides traditional Valentine’s Day surprises, tech, and mobile accessories have become a popular item for both men and women. Online retailing giant Amazon is featuring deals on hundreds of tech selections, from headphones and smart watches to romantic-themed movies.

Don’t forget the favorites!
Classic Valentine gifts including cards, candy, dining out, and flowers will still top many lovers’ shopping lists.

Categories: Center for Retailing Studies, Centers, Marketing, Mays Business, News, Texas A&M