Roughly eight years ago, my brother and I would count the numbers of Louis Vuitton, Gucci, and Coach, on the streets in Hong Kong. We would get to approximately 20 Louis Vuitton in an hour. We played this game again a year ago, but we could only got less than 20 in a day. The demand for this luxury has declined a lot in China ever since social media has bloomed.

A secretary walking out of Louis Vuitton after purchasing a bag. Photo: businessinsider

According to many customers, Louis Vuitton is too typical and can be seen everywhere. Everyone has it and it doesn’t seem like a luxury anymore. Louis Vuitton is now referred to the “brand for secretaries”, and many customers moved onto more expensive brands to leave this ordinary brand.

Louis Vuitton is now trying to expand worldwide to protect its “exclusive image”, according to the chief executive. They will start diversifying its business and immerse in restaurants and catering to attract young customers. Personally, I don’t understand why they would expand to restaurants and catering, as I don’t see how a brand that sells high quality bags can correlate to a restaurant. I believe they should reconsider their business plan and marketing strategies to keep up with the ever-changing world of technology. Instead of letting social media decline the demand of this luxury, they should use social media as an advantage and help them increase demand for this luxury.

Work Cited

“As China Luxury Sales Drop, LVMH Turns To New Target Demographic To Boost Business.” International Business Times. N.p., 06 July 2015. Web. 15 Oct. 2015.

Cox, John Woodrow. “Louis Vuitton and Gucci’s Nightmares Come True: Wealthy Shoppers Don’t Want Flashy Logos Anymore.” Washington Post. The Washington Post, n.d. Web. 15 Oct. 2015.

“LVMH Sales Slow in Hong Kong as Chinese Demand Drops Globally.” South China Morning Post. N.p., n.d. Web. 15 Oct. 2015.

“Louis Vuitton Slows Expansion to Protect Image.” The Globe and Mail. N.p., n.d. Web. 15 Oct. 2015.

Less than a year ago, I read an article by the Global News  about raising the minimum wage to $15 an hour. Among with many others, I wanted this raise. As a Vancouverite, the costs of living in Vancouver are incredibly high, which makes it difficult for many of the minimum wage workers to make a living.

A campaign for the BC Federation of Labour. Photo: fightfor15bc

On the other hand, thinking from a company’s point of view, I disagree with the increase of the minimum wage. Although many companies think that their employees deserve more than minimum wage, they can’t afford it financially. Companies would have to fire workers or reduce their hours as outlined in Isabella Yuan’s blog. This raise would hurt teenagers the most, since they would be laid off first. As a teenager, I would rather work $10.45 than to not have a job. Also to make up for the increased wages, companies would have to increase their price of their products. With every 10% increase on wages, there is a 25% decrease in sales of the products. Overall, I believe that raising the minimum wage to $15 will not only better match the cost of living, but it could also hurt job creation; therefore I would rather minimum wage stay the same.

Employees wanting the minimum wage to increase to $15/hour, but after taxes, the wage still barely matches the cost of living. Photo: Columbia University

Work Cited

Edition, The Early. “Minimum Wage Increases Are ‘supercharging’ Economy, Says U.S. Multimillionaire – British Columbia – CBC News.” CBCnews. CBC/Radio Canada, 23 June 2015. Web. 03 Oct. 2015.

Gollom, Mark. “Why the Minimum Wage ‘Fight for $15’ May Be the Wrong Battle.” CBCnews. CBC/Radio Canada, 03 Aug. 2015. Web. 03 Oct. 2015.

“Minimum Wage Rises in 5 Provinces Today.” CBCnews. N.p., 01 Oct. 2015. Web. 03 Oct. 2015.

“Raise Minimum Wage in B.C. to $15 an Hour: B.C. Labour.” Global News Raise Minimum Wage in BC to 15 an Hour BC Labour. N.p., 25 Nov. 2014. Web. 03 Oct. 2015.

“The Day After $15: New Minimum Wage Would Bring Nightmare Scenario to Canada, Critics Say.” Financial Post The Day After 15 New Minimum Wage Would Bring Nightmare Scenario to Canada Criticssay Comments. N.p., n.d. Web. 03 Oct. 2015.

Wal-Mart recently cut 450 jobs at its headquarters in Arkansas, hoping to reorganize their management structure. According to the Chief Executive Doug McMillion, they want a “more nimble organization” and they are “pulling back in some areas and investing in others”.

An email sent to the employees of Wal-Mart by the CEO regarding the layoff. Photo: fortune

My analysis shows that Wal-Mart lost a quarter of its value in stock. Wal-Mart wants to shift their plan to adapt to customer demand, so they laid people off for the extra funds instead of having to pay the legacy cost and their wages. I agree with Wal-Mart’s decision because the world is changing everyday, and they need to constantly update their strategic plan to keep up with the constant changing behaviour of customers. They need to invest in appropriate funds that will benefit their company and keep up with their competition. I also agree with Rita McGrath‘s belief that Wal-Mart should build and exploit many transient competitive advantages at once, in order to stay ahead. Although I think what Wal-Mart did will benefit their company, I don’t think it is good for the workers, since they are leaving so many people unemployed. Any layoffs will disturb the consumer-goods companies, especially a layoff this big. Overall, Wal-Mart is trying to have more funds and constantly change their strategic plan to keep up with the ever-changing world, and I see nothing wrong with their plan to change.

Work Cited

“Walmart CEO Tells Staff 450 Job Cuts Aim to Make Are to Become More.” Fortune Walmart CEO Tells Staff 450 Job Cuts Aim to Make Are to Become More Nimble Retailer Comments. N.p., 02 Oct. 2015. Web. 02 Oct. 2015.

“Wal-Mart Preparing to Cut Hundreds of Headquarters Jobs This Week.” WSJ. N.p., n.d. Web. 02 Oct. 2015.

“Wal-Mart to Cut Hundreds of Jobs at Headquarters: Sources.” The Globe and Mail. N.p., n.d. Web. 02 Oct. 2015.

“Wal-Mart Stores, Inc.” : NYSE:WMT Quotes & News – Google Finance. N.p., n.d. Web. 02 Oct. 2015.

“Wal-Mart to Cut 450 Jobs at Headquarters.” CNBC. N.p., 02 Oct. 2015. Web. 02 Oct. 2015.