80 Marketing Trends found for Consumer Trends / Demographic

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Scientists Warn of Future World Sustainability Threats

Bottom Line: Over-consumption in rich countries and rapid population growth in the poorest need to be tackled to put society on a sustainable path, according to a report commissioned by the UK's Royal Society

The science academies of fifteen nations - including the UK's Royal Society - issued joint statements today [11-May-12] calling on world leaders assembling at the G8 Summit on 18-19 May to give greater consideration to the vital role of science and technology in addressing some of the planet's most pressing challenges. Warns the report's chairman, Nobel Prize laureate ... 

[Estimated timeframe: Q2 2012 -2100]

... Sir John Sulston: "This is an absolutely critical period for people and the planet, with profound changes for human health and wellbeing and the natural environment.

"Where we go is down to human volition - it's not pre-ordained, it's not the act of anything outside humanity, it's in our hands."

The report's recommendations include giving all women access to family planning, moving beyond GDP as the yardstick of economic health, and reducing food waste.

Although the size of the Earth's human population used to be a main ingredient of environmental debate, it has fallen off the table in recent years.

In part that was because the Earth appeared able to support more people than predictions had suggested, and partly because developing countries came to view the population issue as a smokescreen to hide Western over-consumption.

However it is now back on the table, largely because of research showing that women in the poorest nations generally want access to family planning and that people benefit from it.

The United Nations "medium" projection indicates the population peaking at just over 10 billion before the end of the century, and then starting to fall, from a current level of seven billion.

"Of the three billion extra people we expect to have, most will come from the least developed countries, and the population of Africa alone will increase by two billion," said Eliya Zulu, executive director of the African Institute for Development Policy based in Nairobi.

"We have to invest in family planning in these countries - we empower women, increase child and maternal health and provide a greater opportunity for the poorest countries to invest in education."

The report recommends that developed nations support universal access to family planning, which it estimates would cost $6bn per year.

If the fertility rate in the least developed countries does not come down to levels seen in the rest of the world, the report warns, year 2100 could see a global population of 22bn of whom 17bn would be Africans.

The report will feed into preparations for the Rio+20 summit in June.  

Read the original unabridged article here.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: BBC.co.uk
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5835

UK Male Life Expectancy Set to Match Women by 2030

Bottom Line: Much significance will be placed by marketers - as well as life assurance companies - on data that predicts the gap between male and female life expectancy is closing. Men could catch up with women by 2030, according to a UK government adviser.

"There are three kinds of lies: lies, damned lies, and statistics," allegedly quoth the 19th-century British Prime Minister Benjamin Disraeli. He was not, of course, referring to the latest report from the UK National Office of Statistics which predicts that male life expectancy is gradually catching up with that of women. According to statistician Professor Les Mayhew this trend is probably driven by ...

[Estimated timeframe: Q2 2012 - 2030]

... plummeting smoking rates in men.

Prof Mayhew, a professor of statistics at Cass Business School, analysed life expectancy data in England and Wales in order to calculate how long 30-year-olds could be expected to live. 

His data is likely to be of considerable interest to marketers - not only in the UK but in all developed nations.

The Professor's findings show men languishing far behind women for decades past, but now starting to catch up. If current trends continue, he predicts, both sexes could, on average, be living to the age of 87 by 2030.

According to Prof Mayhew: "What's interesting at the moment is that in the last twenty years or so, male life expectancy at 30 has jumped by about six years and if it jumps by the same amount in the next 20 years it will converge with female life expectancy." 

The reason could be down to men living a healthier lifestyle.

"One of the main reasons, I think, is the trend in the prevalence of smoking. Smoking took off after 1920 in the male population and at its high about 80% of males smoked.

"This was reflected in more divergence in the life expectancy, so by the time you get to about 1970 it was at its peak - the difference in life expectancy was about 5.7 years."

Other factors are thought to be safer, more office-based, jobs. Thousands of men used to work in hazardous occupations such as coal mining. Healthcare has meant more men live longer as well. People with heart disease, which is more common in men, can expect to live much longer than they did a few decades ago.

By contrast, women started smoking later than men. Rates of lung cancer are still increasing in women, but are falling fast in men.

The trend also has global implications. Professor David Leon, from the London School of Hygiene and Tropical Medicine, said: "In virtually all countries in the world, women do have a slight advantage."

However, he said the gap was definitely closing in some countries.

Countries with lower levels of life expectancy, such as in sub-Saharan Africa, showed very little difference between the genders. This was due to the prevalence of infectious diseases which "are not picky about men and women", he said.

In countries that had defeated most infectious diseases, such as in Eastern Europe, "there is a much bigger difference, mostly dominated by lifestyle factors".

At one point in the 1990s, the gap between life expectancies in Russia reached 13 years. Prof Leon said it was an "absolutely massive" difference in a "very gendered society".

In his third class of countries, such as the UK, the gap in life expectancies is starting to narrow: "Men are getting a bit better behaved and women are adopting male life expectancies."

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: BBC.co.uk
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5826

Smartphone Payments Forecast to Rule Retail by 2020

Bottom Line:  Within the next decade, smart-device swiping will have gained mainstream acceptance as a payment method, largely replacing cash and credit cards for most online and in-store purchases.

In a survey conducted by Elon University’s Imagining the Internet Center and the Pew Research Center’s Internet & American Life Project, it emerges that Americans - and [by extension] the rest of the developed world - will by 2020 have adopted smart-device swiping as a method of payment, largely replacing cash and credit cards for online and in-store purchases. However, others, including some who are generally positive about the future of mobile payments  ...

[Estimated timeframe: Q2 2012 - 2020]

... expect this process to unfold relatively slowly due to a combination of privacy fears, a desire for anonymous payments, demographic inertia, a lack of infrastructure to support widespread adoption, and resistance from those with a financial stake in the existing payment structure. 

The survey results are based on a non-random, opt-in, online sample of 1,021 internet and technology experts, along with other internet users, recruited via email invitation, Twitter and Facebook.

Since the data are based on a non-random sample, a margin of error cannot be computed, and the results are not projectable to any population other than the experts in this sample.

The survey results and commentary can be accessed here.

And also here.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: PewInternet.org
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5819

US Young Adults Unfazed by Recession, Upbeat About Future

Bottom Line: Although hard hit by the effects of the US recession, young American adults (aged 18-34) are relatively sanguine about their lot, reports a recent survey by the Pew Research Center.

The survey, released today, paints a curiously relaxed portrait of young Americans in the face of what is arguably the nation's worst recession since the 1930s. Reports the non-partisan Washington DC-based 'fact tank: "A plurality of the public (41%) believes young adults, rather than middle-aged or older adults, are having the toughest time in today’s economy. In a summary of the report's key findings Pew reveals that ... 

[Estimated timeframe:Q1 2012- onward]

  • An analysis of government economic data suggests that this perception is correct. The recent indicators on the nation’s labor market show a decline in the unemployment rate. Nonetheless, since 2010, the share of young adults ages 18 to 24 currently employed (54%) has been its lowest since the government began collecting these data in 1948. And the gap in employment between the young and all working-age adults—roughly 15 percentage points—is the widest in recorded history.1 In addition, young adults employed full time have experienced a greater drop in weekly earnings (down 6%) than any other age group over the past five years.
  • Public says today’s young adults have it harder than their parents did. Large majorities of the public say it’s harder for young adults to reach many of the basic financial goals their parents may have taken for granted. More than eight-in-ten (82%) say finding a job is harder for young adults today than it was for their parents’ generation. And at least seven-in-ten say it’s harder now to save for the future (75%), pay for college (71%) or buy a home (69%).
  • Tough economic times altering young adults’ daily lives, long-term plans. While negative trends in the labor market have been felt most acutely by the youngest workers, many adults in their late 20s and early 30s have also felt the impact of the weak economy. Among all 18- to 34-year-olds, fully half (49%) say they have taken a job they didn’t want just to pay the bills, with 24% saying they have taken an unpaid job to gain work experience. And more than one-third (35%) say that, as a result of the poor economy, they have gone back to school. Their personal lives have also been affected: 31% have postponed either getting married or having a baby (22% say they have postponed having a baby and 20% have put off getting married). One-in-four (24%) say they have moved back in with their parents after living on their own.
  • Adulthood begins later than it used to. In a 1993 Newsweek poll, 80% of parents with young children said children should be financially independent from their parents by the age of 22. Today, only 67% of parents hold that view. Three-in-ten (31%) of today’s parents say children shouldn’t have to be on their own financially until age 25 or later.
  • For young adults, bad times don’t trump optimism. Among those ages 18 to 34, nearly nine-in-ten (88%) say they either have or earn enough money now or expect they will in the future. Only 9% say they don’t think they will ever have enough to live the life they want. Adults ages 35 and older are much less optimistic—28% say they don’t anticipate making enough money in the future.2 While young people are less likely now than they were before the recession to say they currently have enough income, their level of optimism is undiminished from where it was in 2004.
  • Older adults have maintained their standard of living. If any age group has weathered the economic storm better than others, it has been adults ages 65 and older. In a 2004 Pew Research survey, similar shares of young adults (50%), middle-aged adults (52%) and older adults (50%) rated their personal financial situation “excellent” or “good.” By 2011, a large gap had opened up between older adults and everyone else: 54% of older adults gave their personal financial situation a high rating, compared with roughly one-third of younger and middle-aged adults.
  • Among the employed, job satisfaction has remained steady… For those young adults who are employed, most are relatively satisfied with their job. Job satisfaction among young workers is roughly the same as it was before the recession and remains somewhat lower than the satisfaction rate among workers ages 35 and older.
  • But young workers feel more vulnerable than they used to. In a 1998 survey, 65% of 18- to 34-year-olds working full time or part time said they were extremely or very confident that they could find another job if they lost or left their current job.3 The share highly confident fell dramatically to 25% in 2009. It has rebounded somewhat since then (to 43% in the current survey) but is still nowhere near the 1998 level.
  • Few young workers see their current job as a “career.” Among all 18- to 34-year-olds, only 30% consider their current job a career. This compares with 52% among workers ages 35 and older. However, the survey suggests that young adults quickly begin to transition from job to career. Among the youngest workers, those ages 18 to 24, only 11% say their job is a career. Among workers ages 25 to 29, the share is three times that (34%). And among those ages 30 to 34, fully half (49%) say they view their job as a career.
  • Most young workers say they don’t have the education and training to get ahead. Among 18- to 34-year-olds who are employed, less than half (46%) say they have the education and training necessary to get ahead in their job or career. Among those who are not working, only 27% say they are adequately prepared for the kind of job they want. Having a college degree makes a big difference on this question: 69% of young college graduates who are working say they have the education and training they need to get ahead. This compares with only 39% of those who do not have a degree and are not enrolled in college.
  • College enrollment rates are tied to employment declines among the young. A greater share of young adults are enrolled in high school or college today than at any time in recorded history. This increase in enrollment is one reason that fewer young adults are on the job today, but it doesn’t account for all the job losses experienced by this age group in recent years. The Great Recession broadly reduced the employment rate of young adults regardless of whether they were in school. Among those enrolled in school, the employment rate fell from 47.6% in 2007 to 40.7% in 2011. And among those not enrolled in school, it fell from 73.2% to 65.0% over that same period.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: Pew.org
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5767

US Digital Video Adspend Will Soar to $5bn by 2016

Bottom Line: Digital video home viewing -still in its relative infancy stateside - is on course to explode by 2016, according to a new forecast by Forrester Research. A trend likely to be replicated in other advanced economies worldwide

Domestic digital video ad spending will grow by over 250% over the next five years, estimates the researcher, rising from $2 billion in 2011 to $5.4 billion in 2016. The surge is primarily due to a proliferation in video-friendly devices, a renaissance in quality video content, and the maturing of younger online-savvy consumers. Forrester analyst Tracy Stokes predicts that ...

[Estimated timeframe: Q1 2012 - 2016]

... TV is next in line for a dramatic digital makeover.

“Linear TV is unrivaled in its audience reach, but various forms of digital video are emerging as efficient advertising channels that enable marketers to target and engage consumers on a deeper level,” according to Stokes. “Forward-looking marketers will shift their approach away from planning silos and form a holistic video strategy that integrates TV and digital video into one team.”

The near-exponential growth in video content is attributed to concerted efforts by top web companies. Along with Yahoo and Hulu, Google recently unveiled a YouTube network of over one hundred professionally produced content channels.

Forrester estimateds that 37 million US households currently own a connected device that enables them to watch digital video on their TV screen, compared with less than 25 million in 2010.

Among these connected households, younger consumers lead the way in gizmo-adoption, outpacing  the overall population by nearly twenty percentage points.

Forrester forecasts that connected device penetration will reach 50% in 2016, further opening the fragmentation floodgates of video consumption options.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: MediaPost.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5745

MobileTexting on Course to Generate US$ Billions Worldwide

Bottom Line: Text messaging has become a ubiquitous mobile activity both in properous nations and across the developing world, with a usage median of 75% of cellphone owners, impacting to an unknown but significant extent on social-networking sites. 

According to a new report on global technology usage by the Pew Research Center, although social networking is at its most active in wealthier nations, people planetwide are increasingly using cellphones for texting as much as talking. The practice is at its most popular in poorer nations such as Kenya and Indonesia, although ...

[Estimated timeframe: Q4 2011 onward]

... 80% of China's mobile are active texters, compared with a western European average of around 70% and 67% in the US.

Text messaging in its current form, however, is now viewed as under threat in more mature markets, usurped by the emergence of web-based messaging alternatives from the likes of Facebook, Apple and BlackBerry

Indeed, Juniper Research has forecast that global revenue from text messaging will plateau this year before trending southbound in coming years.

But as 2012 lurches inexorably nearer, texting remains a massive business, generating an estimated $23 billion in revenues this year in the US alone.

Among other relevant data from the reports:

  • In addition to texting, many users are also using their phones to take photos or record video. Half of cell owners in the twenty-one countries polled did so, with Japanese users the most avid at 72%. Fewer people access the internet on mobile devices, although more than four in ten mobile phone owners use their device to go online in Israel (47%), Japan (47%) and the United States (43%).
  • With Facebook boasting some 800 million active users worldwide, it’s no surprise that social networking has spread. At least a quarter of people surveyed in 15 of 21 countries go on social networks. Leading the way are Israel (53%) and the US (50%), followed by countries such as Russia, Britain and Spain, where more than 40% are social networking.
  • At the other extreme are poorer countries such as Indonesia (12%,) India (5%), and Pakistan (2%), where lack of internet access is the main reason for low participation in social networks. In Egypt, where social tools like Facebook and Twitter played a role in the country’s popular uprising earlier this year, 28% are on social networks.
  • That figure is up from 18% last year. Only Russia -- also affected by political upheaval this year -- had a similar gain, rising from 33% to 43% involvement in social media. For most other countries, however, there was only minimal change in social networking adoption from 2010 -- suggesting that emerging markets will be the source of future growth for social media providers.
  • Young people worldwide are eagerly embracing online and mobile technologies. In nearly all countries, people ages 18 to 29 are more likely than those 50 or older to access the Internet on their mobile phone. They are also consistently more likely to use their cell phones for texting and taking pictures or video.
  • When it comes to social networking, most adults under age 30 use social sites in 13 of 21 countries. The U.S. is the only country where even a quarter of people 50 or older engage in social media. Even among Internet users, older people are consistently much less likely to be found on Facebook or other social properties than those under 30.

The survey, by the Pew Research Center’s Global Attitudes Project, was conducted via telephone and in-person interviews from March 21 to May 15.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: MediaPost.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5739

Global Public Wi-Fi Zones Predicted to Soar 400% by 2015

Bottom Line: Consumers' insatiable appetite for more and more electronic gizmos - laptops, tablets, smartphones - is fuelling an exponential demand for more and more Wi-Fi connections in public places worldwide.

Multinational trade body The Wireless Broadband Alliance [WBA] plans to meet this explosive demand by delivering near-universal and seamless wi-fi availability in urban areas worldwide. The number of public internet hotspots globally will grow more than fourfold to 5.8 million by 2015, according to a forecast prepared for the WBA by Californian firm Informa Research Service. The anticipated demand is also confirmed   by ... 

[Estimated timeframe: Q4 2011 - Q4 2015]

... IT giant Cisco Systems, which sees internet hotspots as crucial for offloading wireless data traffic - a paradigm expected by the company to grow 26-fold over the next five years - an astonishing surge which Cisco attributes to viewings of video on mobile devices.

Says WBA chairman Chris Bruce (also ceo of BT's Openzone): "The findings show we are about to enter the golden age of public wi-fi with hotspot deployments set to soar. Fixed operators are extending broadband services beyond the home and office, and wi-fi is supporting busy mobile broadband networks."

China Mobile, the world's largest mobile carrier by subscribers, intends to deploy a million hotspots while Japan's second biggest mobile carrier KDDI plans to extend  its 10,000 wi-fi hotspots to 100,000 within six months.

Other key members of the WBA include AT&T, NTT Docomo, Orange, Comcast, T-Mobile, Verizon and Skype

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: Reuters.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5707

India's Luxury Brand Sales Predicted to Grow 20% Annually Thru' 2015

Bottom Line: In the wake of decade-long sluggish attempts by Western luxury goods manufacturers to exploit India's mushrooming economy, their strategy is at last predicted to reach orbital velocity over the next five years.

India's sales of imported luxury goods are expected to expand by a searing 20% annually until 2015, according to the Indian Luxury Review, a newly published report. Aspirational consumers are, it seems, eager to snap-up prestige brands in order to flaunt their wealth. The latest trend is sparked by increasing prosperity [for a favoured few] to whom social status is a key factor. Now, however ...

[Estimated timeframe: Q4 2011 - 2015]

...  global luxury labels are jostling to make their mark in India which boasts 153,000 dollar millionaires - plus many thousands just a notch below.

Explains the report's author, Neelesh Hundekari, head of Indian luxury retail at Chicago-headquartered management consultancy AT Kearney: "India's luxury sales grew by 20% to reach $5.75 billion in 2010, despite high tariff barriers, a lack of retail infrastructure and costly rents."

That figure is expected to rise at a similar pace annually to reach $14.72 billion by 2015 - around half of the forecast $27-28 billion for the sector in neighbouring China by the same date.

"We expect this strong Indian upward trajectory to continue," Mr Hundekari told Agence France-Presse, with the market propelled by increasingly affluent and "brand conscious" shoppers.

At the mid-to-upper end of India's class and caste systems, consumers are buying everything from high-end handbags, jewellery, electronics and cars to expensive wines and spirits, with all the big names present in the market from Gucci and Chanel to Porsche and Ferrari.

Hermes has just launched a limited-edition sari range, while international high-end brands are spreading from niches in the lobbies of five-star hotels to branches in new shopping malls.

The vast DLF Emporio mall, which opened in 2008, was built on the outskirts of Delhi with a mission to sell only luxury goods - it now houses names including Giorgio Armani, Louis Vuitton, Cartier and Dior.

"This is just a beginning where the big boom is waiting to happen," said Sanjay Kapoor, managing director at Genesis Luxury, according to whom: "For many Indians, who are casting off the mantra of frugality espoused by independence hero Mahatma Gandhi, wealth is a novelty that they like to flaunt.

"If they spend money, they want to get social recognition. They are not buying for intrinsic satisfaction - their primary motivation is to show off."

The internet and social media are also making it possible for luxury firms to connect with once hard-to-reach consumers in smaller cities and rural areas.

Angela Ahrendts, chief executive of iconic British brand Burberry, told an industry conference in Delhi last month that some 500,000 Indians are among its 8.5 million Facebook fans.

Also fuelling the lavish spending is the large amount of so-called "black money" on which people have paid no taxes. "They need to do something to do with it," said one analyst who did not wish to be named.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: HindustanTimes.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5705

Japan's Baby Boomers - a Global Marketing Template?

Bottom Line: Four years ago Japan's 'baby-boom' generation began to retire - a significant lifestyle change that prompted market researchers to focus on this potentially free-spending age group. The results were emphatically not what the pollsters expected!

The boomers - a generation that had grown-up on rock "n' roll  - was healthier and more active than any previous group of retirees. Moreover, they enjoyed a  significantly higher disposable income than their predecessors. The ageing boomers wanted to pick up exactly where they left off before entering the daily drudge of paid employment. So, on what did they spend their bundles of yen? Books? Cruise tourism? Gardening tools? Nosirree! It was ...

[Estimated timeframe: Q4 2010 onward]

... electric guitars! 

Japan's boomer generation, weaned on rock "n' roll, is apparently determined to pick up right where it left off when they entered the world of work.

Opines Dave McCaughan, Tokyo-based regional strategic planning director for McCann Worldgroup Asia Pacific: "When they retired they basically reformed the bands they were in at 22.

"If you take a typical 60-year-old retiree, what has he been doing the last 35 years? Basically he's been going to work-related events three nights a week that often end up at karaoke. He's just been rehearsing for performing in the band."

It's a trend that underscores an important lesson for marketers: don't underestimate the 50-plus set, a group that will have increasing importance as developed economies age.

In Asia, home to large populations of older consumers - in places such as Japan, South Korea, Taiwan, Singapore and Hong Kong - marketers have found unique ways of tweaking their products or marketing to appeal to golden lifestyles.

Several years ago, electronics maker LG released its Wine phone, specifically tailored for older consumers with large buttons, easy-to-read text, a simple design and marketed with middle-aged models.

Wine became one of LG's top-selling handsets, but the company found that consumers started turning away from older feature phones once smartphones entered the Korean market.

"What we've found is that in Korea, older customers don't want to look old. So they would rather use a young, trendy phone that their kids and grandchildren are using," said Ken Hong, LG's director-global communications.

Conversely, however, Japan's NTT Docomo has had good success with its Raku-Raku ("easy"—phone) selling its 20 millionth unit this summer.

Comments Hong: "I think the bigger trend is that instead of only marketing to the silver segment, companies like LG are widening their target by promoting convenience and safety, which appeal strongly to an older population without closing the door on a younger segment who might be turned off by anything that is designed for only senior citizens."

Japan, Korea and Hong Kong are being used as global test markets for aging strategies, says McCann's McCaughan, stressing that many innovations can translate across markets.

"A lot of the big Western companies have known about the aging thing for a long time and sort of peripherally talked about it, but now they're becoming more active. The flow will be from North Asia to Europe and then to the US because that's where the demographic shift is."

According to Jordan Price, senior-strategic planning partner at JWT1 Tokyo, although nearly one-fourth of the population is over age 65, the demographic has become the breeding ground of innovation. Beyond the size of the market, there's spending power to back up the numbers: the 50-plus segment in Japan represents roughly 80% of purchasing power.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: AdAge.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5691

Managerial Gender Pay in UK Will Not Reach Parity Until 2109

Bottom Line: The UK's Chartered Management Institute posits that it will take another ninety-eight years for the pay of female business managers to reach parity with that of their male counterparts.

Britain's Chartered Management Institute [CMI] claims it can accurately forecast the gender pay scenario through to 2109. In a recent survey of 34,158 managers across the UK, it emerged that female managers are paid an average £31,895 per year, compared with men earning £42,441 in a mirror role. For women managers as a whole, the pay gap is wider in 2011 than 2010, rising from £10,000 to £10,546. As a result, the number of years that will elapse before women managers achieve pay parity has risen from ...

[Estimated timeframe: Q4 2011 - 2109]

... fifty-seven to ninety-eight. 

Says CMI director of policy and research Petra Wilton: "While CMI is delighted that junior female executives have caught up with males at the same level, this year's salary survey demonstrates, yet again, that businesses are contributing to the persistent gender pay gap, alienating top female employees by continuing to pay men and women unequally. This kind of bad management is damaging UK businesses and must be addressed."

To help close the gap, Ms Wilton said the CMI wants the government "to scrutinise organisational pay, demand more transparency from companies on pay bandings and publicly expose organisations found guilty of fuelling the gender pay gap".

However, the CMI insists it is not calling for the imposition of quotas or for organisations to be forced to reveal staff salaries.

The report's author, former government minister Lord Davies of Abersoch, urged FTSE 350 companies to boost the percentage of women at the board table to 25% by 2015.

But he stopped short of imposing quotas, unless voluntary measures fail.

The CIM, which numbers over than 90,000 members, claims to be the only chartered body in the UK that awards management and leadership qualifications.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: BBC.co.uk
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=5661

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