Morning Advantage: The Curious Case of the Emerging Middle Class

There's a scene in the Jack Abramoff biopic Casino Jack in which one character observes that a newly wealthy associate was still buying the same cheap brands of clothes he bought before he had money — that he hadn't adapted to his new status. While the scene was meant to help round out the character, anyone familiar with the work of Alon Eizenberg and Alberta Salvo would have simply shrugged it off as typical. Research by the two academics has demonstrated "a persistence of buying behavior" among emerging middle classes in developing nations, according to Kellogg Insight. They found that when price-sensitive new consumers start out by purchasing inexpensive local brands, they continue to favor them over the premium brands preferred by traditional middle-class consumers, even as their wealth increases. "Premium brands have to act quickly in the wake of an emerging middle class," the authors note. "If they wait too long, a substantial mass of the 'new middle class' might be captivated by the generic habit." Marketers take note.

LIES, DAMN LIES, AND JOBS DATA

Tepid Yes, but US Job Market May Not Be as Weak as You Think (Oxford Analytica)

While payroll job creation data over the past three months have shown weakness, and the economy slowed somewhat at the end of the second quarter, seasonal factors may have exaggerated this apparent shift, says Oxford Analytica. Job creation is likely stronger than indicated in the payroll data. Indeed, the report caused some analyst head scratching, as the payroll data again deviated from other measures of job creation: the ADP report indicated the creation of 176,000 new private sector jobs, while the payroll survey implies growth of approximately 125,000.

YOU THINK TOO MUCH

The Unconscious Executive (HBS Working Knowledge)

When should you think a decision through systematically and when is it best to wait for the answer to just come to you in the shower or after a good night’s rest? A host of Harvard researchers are investigating this question, and preliminary findings are in: Decisions that require you to apply simple, straightforward rules (find me an apartment that is not on the ground floor) should be thought out consciously. But for decisions that require you to integrate a lot of information (find me the best apartment with most number of rooms in a good neighborhood), you’d do better to think less, and give your unconscious a chance to kick in. — from Andrea Ovans.

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Look What You've Done to this Rock 'n' Roll Clown

Def Leppard Recording "Forgeries" of Old Hits To Spite Label (Billboard) Perk Wars: Facebook, Zynga, Google Jockey for Top Talent (USA Today) Think Your Bank Is Different? You're Wrong. (Gallup Business Journal)